Centrifugal Pump Market Analysis, Comprehensive Research Study, Future and Regional Forecast to 2023 | MRFR
The global centrifugal pump market is estimated to expand at ~4.01% CAGR during the forecast period.
Centrifugal pump device which is required to move fluids by means of the transfer of rotational energy through impellers. These types of pumps are mainly used for pumping water in the industrial and residential properties. They are also majorly used in agriculture sector, municipal water and wastewater plants, power generation plants, petroleum, and chemical industries, among others.
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The growing demand for centrifugal pump market is attributed to the growing infrastructure development across the globe and rising demand for water conservation and investment in water & wastewater industry. Countries such as US, China, Germany, India, and others are focusing on desalination and investment in water treatment plants to improve the efficiency of water intensive industries such as power, paper & pulp, chemical, oil & gas, and others. One of the major restraints for the global centrifugal pump market is the cavitation effect in centrifugal pumps.
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Prominent Players:
The key players of global centrifugal pump market are Xylem (US), Grundfos (Denmark), Flowserve (US), KSB (Germany), Circor International (US), Sulzer (Switzerland), ITT Corporation (US), Wilo (Germany), Ebara Corporation (Japan), Pentair (US), Someflu (France), Baker Hughes, A GE Company (US), and Weir (UK).
Segmental Analysis:
Global centrifugal pump market has been segmented based on type, stage, end-user, and region. Based on type, the market is classified into overhung impeller, vertically suspended, and between-bearing. Vertically suspended is expected to be one of the leading markets during the forecast period due to advantages such as it used 75% less floor space compared to horizontal pumps with electric motor drives. Therefore, an increase in the demand for multistage pumps in commercial buildings, petroleum, oil & gas, and industrial process services are the major factors driving the market for vertically suspended centrifugal pumps. The global centrifugal pump market is further segmented based on end-user, including water & wastewater, oil & gas, chemical, power, and others. Water and wastewater segment of the global centrifugal pump market is estimated to register the highest growth rate during the forecast period.
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