Centrifugal Pump Market 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.

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Market Dynamics

Introduction

Centrifugal pumps majorly find use in moving water or any other fluid, 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, chemicals, 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.

Market Drivers

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

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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).

Note: The above list does not necessarily include all the top players in the market.

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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.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s centrifugal pump market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• 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 15 detailed primary interviews with market players across the value chain in all four regions and 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 market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

The centrifugal pump 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)

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.

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