Stratview Research has recently published a report on Centrifugal Pump Market segmented by Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2028. The objective of the market experts at Stratview Research is to conduct a thorough analysis of ‘Centrifugal Pump’ and put a detailed knowledge about the industry and business attractiveness, revenue, market size, segmentation, growth and restraining factors so that the user gets in-depth information about the industry and the business from a past, current and a future perspective and can potentially invest capital for further growth.
Market Insights
The centrifugal pump market size was valued at USD 35.77 billion in 2021 and is likely to grow at a CAGR of 5.84% during 2022-2028 to reach USD 53.32 billion in 2028.
Additionally, the report covers a variety of established and emerging start-ups and organisations operating in the industry. As organization’s report provides a comparative analysis by presenting the user with various aspects of the markets discussed in the report.
What is a centrifugal pump?
Centrifugal Pumps majorly find use in moving water or any other fluid by means of 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.
Covid-19 Analysis -
Nationwide lockdowns have impacted, and halted production, supply of raw materials sourcing production has affected the balance in the supply of finished products. This report aims to cover all the aspects of how the pandemic has affected the business in the Centrifugal Pump Market and how has the subsequent lockdowns inflamed the industry scenario and what are the areas that needs urgent action and re-planning.
Market Drivers
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.
Segment-wise analysis
The report encompasses in-depth segmentations like regional segmentation, segmentation by product types, application-wise segmentation, geographical segmentation and thereby gives the user an overview of the effectiveness of the segmentation by various classes.
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.
Key Players in the Centrifugal Pump Market
Xylem Inc.
The Flowserve Corporation,
Grundfos,
Sulzer Ltd.,
ITT Corporation,
WILO SE,
Circor International Inc.,
Ebara Corporation,
Baker Hughes (A GE Company).
Looking for 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 at sales@stratviewresearch.com.
What we do-
Stratview Research is a global market research and consulting company. We provide unmatched quality of offerings to our clients existing globally. We at Stratview Research are obliged to serve our diverse customer base present across the industries of Aerospace, Oil and Gas, Automotive, and Chemicals, etc. among various other industries present around the world. We strive to provide our customers with updated information on ground-breaking technologies, high growing markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities.