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Pune, India, August 24, 2021 (GLOBE NEWSWIRE) – The world centrifugal pump market the size is expected to reach $ 50.32 billion by 2026 due to the rapid development of commercial and centrifugal infrastructure around the world. A centrifugal pump is a mechanical device that uses a simple mechanism to suck liquid from a high or low level. This is possible by converting the rotational energy of a motor into energy in the moving liquid. According to a recently released report by Fortune Business Insights ™ titled, Centrifugal Pump Market Size, Share and Industry Analysis, By Type (Axial Flow, Radial Flow, Mixed Flow), By Stage (Single Stage, Multi Stage), By End User (Residential, commercial, industrial, agricultural), and regional forecasts, 2019-2026 ”, The market value was USD 36.05 billion in 2018. It will increase at a CAGR of 4.3% during the forecast period set from 2019 to 2026.
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The list of manufacturers of the centrifugal pump market is as follows:
- Kirloskar Brothers Limited (India)
- ITT Inc. (United States)
- The Weir Group PLC (Scotland)
- Sulzer (Switzerland)
- Wilo Group (Germany)
- GRUNDFOS (Denmark)
- Xylem (United States)
- Flowrox (Finland)
- Company KSB (Germany)
- Flowserve Corporation (United States)
- Ebara Corporation (Japan)
- Dover Corporation (United States)
- Tsurumi pump (Japan)
SCOPE AND SEGMENTATION OF THE REPORT:
| Cover of the report | Details |
| Forecast period | 2019 to 2026 |
| Forecast period 2019 to 2026 CAGR | 4.3% |
| 2026 value projection | $ 50.32 billion |
| Year of reference | 2018 |
| Market size in 2018 | $ 36.05 billion |
| Historical data for | 2015 to 2017 |
| Number of pages | 140 |
| Tables, charts and figures | 119 |
| Covered segments | Type; To organise; Final user; and region |
| Growth drivers | Extensive application in a wide range of industries is likely to increase the size of the industry |
| Increase in residential and commercial space construction activities will increase market growth | |
| Multistage centrifugal pumps are likely to hold the dominant share during the forecast period | |
| Pitfalls and challenges | The regular priming requirements along with the formation of cavitation conditions may hamper the growth of the market |
What is the scope of the report?
The report offers a detailed overview of the market and its growth parameters such as repelling, stimulating, stimulating factors and creating opportunities for the market. It also emphasizes the market competitive landscape, key industry information and other trends in the Centrifugal Pumps market. In addition to this, the report talks about the market segmentation based on factors such as stage, type, end user, and regions. Further, the report highlights the list of players operating in the market and the significant strategies adopted by them to gain competitive advantage in the market. These include mergers and acquisitions, contracts and agreements, investments in research and development and other business collaborations. The report is available for sale on the company’s website.
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Market factors
Increased construction activity will propel growth
The growing number of industries such as marine, chemical, pharmaceuticals, food and beverage, metal fabrication, pharmaceuticals and others is the major growth driver of the centrifugal pump market. In addition, the construction of industrial, commercial and residential structures has also contributed a significant share of the market, thus contributing to the expansion of the market in the years to come.
However, the formation of cavity conditions in pumps can significantly hamper the overall market during the forecast period. This, along with the regular need for pump priming, can also hamper the size of its global market.
Regional segmentation:
Asia-Pacific to Dominate the Market with Growing Demand for Industrial Applications
At present, Asia-Pacific holds the largest market share of centrifugal pumps due to the increasing demand for energy, coupled with the increase in processing and manufacturing industries. Significant nations that contribute significant income to this region include India, China, Australia, Japan, and countries in Southeast Asia. On the other hand, the North American market will experience significant growth due to increased spending in construction activities, coupled with the rapid development of industrial establishments. In addition to this, increasing oil and gas production targets, coupled with significant hydrocarbon reserves, is likely to contribute to the expansion of the regional market.
Competitive landscape:
Joint ventures between companies bode well for gamers
Currently, the market is dominated by players such as Grundfos, Xylem, Sulzer and KSB Company, as they are more concerned with maintaining their international presence. This is done by increasing overall product efficiency and introducing innovative product lines through collaborative efforts and substantial investments in testing and research facilities. Other players are focusing on contracts and agreements, mergers and acquisitions, and joint ventures to attract more revenue to the centrifugal pump market in the coming years
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Significant developments in the The centrifugal pump market includes:
September 2019 – Flowrox has introduced a new heavy-duty CF-S horizontal pump for sensible and highly abrasive slurries such as mineral processing, sugar processing, hydrocyclone feed, residues and discharge from the crusher.
March 2019 – The Rheinhutte Pumpen group was acquired by ITT Inc., for industrial and renewable use. The main objective of this collaboration is to include a new spectrum from ITT’s industrial process division in Europe and to provide a new range of pump technologies for high temperature, corrosive and abrasive applications.
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Main Table of Contents for Centrifugal Pump Market:
- introduction
- Scope of research
- Market segmentation
- Research methodology
- Definitions and assumptions
- Abstract
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- Key ideas
- Main emerging trends – for the main countries
- Latest technological advances
- Regulatory landscape
- SWOT Analysis of the Industry
- Porters Five Forces Analysis
- Global Centrifugal Pump Market Analysis (USD Billion), Information and Forecast, 2015-2026
- Main conclusions / Summary
- Market Analysis, Information & Forecast – By Type
- Axial flow
- Radial flux
- Mixed flow
- Market analysis, information and forecasts – by step
- Market analysis, information and forecasts – by end user
- Residential
- Commercial
- Industrial
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-
-
- Water and wastewater
- Petroleum gas
- Energy production
- Mining
- Chemical products
- food and drinks
- Others
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-
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- Market analysis, information and forecasts – by region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Table of contents (continued)…
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