Centrifugal Pump Market Growth & Forecast Analysis | 2023-2028

Market Insights

The centrifugal pump market was estimated at USD 37.91 billion in 2022 and is likely to grow at a CAGR of 5.81% during 2023-2028 to reach USD 53.32 billion in 2028.

Want to have a closer look at this report, Download a free sample here

What is a centrifugal pump?

Centrifugal Pumps majorly find use in moving water or any other fluid using inducing the flow by building up the pressure of the fluid. The pumps are of different types such as overhung impellers, vertically suspended, and between bearings.

Centrifugal pumps are generally employed in power industries, oil & gas, water & wastewater, chemical, and others. The prominent advantages of the preference for a centrifugal pump entail its ease of operation, compactness in size, and foremost, it suitably aids to lift highly viscous liquid, such as sugar molasses, paper pulp, muddy and sewage water, and oil.

Key Players

Some of the centrifugal pump manufacturers are-

• Xylem Inc.
• The Flowserve Corporation,
• Grundfos,
• Sulzer Ltd.,
• ITT Corporation,
• WILO SE,
• Circor International Inc.,
• Ebara Corporation,
• Baker Hughes (A GE Company).

Market Dynamics

Investments in wastewater treatment plants in emerging economies majorly in the Middle East and Asia-Pacific are the key influencers that are driving the centrifugal pump market globally.

Want to have a closer look at this market report? Register Here

Segments Analysis

By Type

Based on the type, the market is segmented as an overhung impeller, vertically suspended, and between bearings. The overhung impeller segment dominated the market in 2021, and the segment is likely to maintain its dominance during the forecast period. The growth of the segment is owing to the extensive use of overhung impellers in commercial, residential, and industrial applications. In addition, they are also used in different end-use industries for power generation owing to their low cost as compared to bearing pumps.

By Stage Type

Based on the stage type, the market is segmented as single-stage and multistage. The multistage segment is estimated to have substantial growth in the coming five years. Multistage pumps offer several advantages as they are suitable for operating in a host of flow/head situations.

By End-User Type

Based on the end-user type, the market is segmented as industrial and commercial & residential. The industrial segment is expected to register higher growth during the forecast period. The market is driven by the increasing demand from the water and wastewater and agricultural sectors majorly in the countries such as India, Thailand, Saudi Arabia, Malaysia, Vietnam, and Nigeria.

Regional Insights

In terms of regions, Asia-Pacific is expected to dominate the market in the coming five years. China and India are the growth engines of the region. The market is driven by the growing investments in the water and wastewater set-up in India and other South-Eastern countries.  North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

Want to know which region offers the best growth opportunities then, Register Here

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories.

By Type

• Overhung Impeller
• Vertically Suspended
• Between Bearing

By Stage Type

• Single Stage
• Multistage

By End-User Type

• Industrial
• Commercial & Residential

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Know more about various segments of this report. Click Here

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the types by end-user type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.