Efforts by regional governments to develop sustainable water treatment and distribution systems in rural and urban areas, growing wastewater treatment initiatives, and climbing demand from agriculture sector are anticipated to drive the global demand for centrifugal pumps.
A new market research report on global centrifugal pumps market published by Future Market Insights (FMI) projects the market to reach a value of US$ 53 Bn by the end of 2027.
“China is likely to play a bigger role in shaping the growth of the centrifugal pumps market, driving the demand on the regional front and dictating the pricing trend through its large number of market players with below industrial average price offerings,” says an FMI analyst.
Key Takeaways of Centrifugal Pumps Market Study
For More Detailed Insights on Centrifugal Pumps Market
- Decreasing groundwater levels, coupled with growing efforts for water conservation have been driving water recycling projects all across the globe, in turn boosting the demand for centrifugal pumps.
- Demand for energy-efficient centrifugal pumps has been on a rise, as energy consumption of centrifugal pumps accounts for around 90% of total lifecycle cost.
- Asia Pacific excluding Japan region is estimated to dominate the global demand for centrifugal pumps, owing to large number of end-use industries and elevated levels of growth in water and wastewater treatment facilities in countries such as India and China.
- Submersible pumps are anticipated to remain the most sought out centrifugal pump type due to their ability to function even when completely immersed in fluid to be transmitted.
- Owing to the presence of a large number of industries like oil & gas, chemicals, food & beverage and pharmaceuticals, industrial segment is projected to continue dominating volume demand for centrifugal pumps, during the forecast period.
Centrifugal Pumps Market: Participant Insights
Key manufacturers involved in the manufacturing of centrifugal pumps such as Xylem Inc., Dover Corporation, Flowserve Corporation, Sulzer Ltd, and Ebara Corporation, are focusing on mergers & acquisitions to expand their sales and distribution networks globally.
What’s the Future Outlook?
Centrifugal pumps are expected to continue witnessing heavy demand as they form an indispensable part of a large number of industries like oil & gas, power, agriculture, water & wastewater treatment, and chemicals, among others due to their capability of handling fluids of varying viscosities and possess a greater life expectancy.
To Know More About Centrifugal Pumps Market Report:
A new market research report published by Future Market Insights (FMI) on the global centrifugal pumps market offers deep dive market insights into the market growth during 2019-2027. The report provides global centrifugal pumps market demand across four different segments- type, pump capacity, end use, and region. The research report also details global centrifugal pumps pricing by pump type and capacity across regions, value chain analysis and region-wise volume demand and market value break-up across various segments covered under the research scope.
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