According to a research report by Stratview Research, 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.

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.

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.

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. 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, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Segments' Analysis

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.

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.

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.

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.

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.

Leading Players Covered in the Centrifugal Pump Market Report:

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

To develop better customer understanding, the team at Stratview Research employ a range of quantitative and qualitative market research approaches. This report aims to help the users make use of the available data in a way, that profits the business and leads to growth.

Stratview Research is interested in learning what additional information, if included, would be beneficial to the users’ business. We also customise reports based on your preferred countries/regions, segmentations, companies, and so on. You can share any specific requirements related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

About Us:

Stratview Research is a global market research firm that delivers precise data and ground-breaking business study, helping organizations of all sizes make suitable decisions. We gather information for our clients, assisting them to address various challenges, and trends related to their market.