An Incisive, In-depth Analysis on the Centrifugal Pumps Market
This study offers a comprehensive, 360 degree analysis on the Centrifugal Pumps market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Centrifugal Pumps market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Centrifugal pump is defined as a mechanical device used in transfer and transportation of various types of liquid in most of the end use industries and are highly preferred for agricultural and domestic purposes. As the name suggests, the pump operates on the principal of centrifugal force, which converts rotational kinetic energy provided by a prime motor such as an electric motor, gasoline engine or steam turbine, into hydrodynamic energy of the moving liquid being pumped. Centrifugal pumps are the most broadly used pump type and are generally preferred over other pumps due to their design simplicity, smooth flow rate, wide range of capacity and ease of maintenance and operational efficiency. By product type, the centrifugal pumps market is segmented into single-stage pumps, multi-stage pump, axial & mixed flow pumps, and submersible pump and sealless & circulator pumps. The minimum range of a centrifugal pump can be 0.125 HP (horsepower) and can go up till 5000 hp. All centrifugal pump types mentioned above have been segmented into small, medium and high capacity/size depending on HP range. We have also segmented end use application for centrifugal pumps into industrial, agricultural and domestic use.
Global demand for centrifugal pumps is directly correlated to infrastructural developments activities worldwide. Governments of developing countries such as China and India are focusing on urbanization, which is expected to fuel the demand for centrifugal pumps, particularly in domestic, water and wastewater treatment industries. Increasing exploration activities for new sources of water, rising demand from SME’s and process industries, replacement of existing production plants and pumping systems are some other drivers expected to fuel the demand of global centrifugal pumps over the forecast period.
Presence of large number of Chinese players offering low priced centrifugal pumps acts as a restraint for most of the regional and global players offering centrifugal pumps. Moreover the replacement rate for centrifugal pumps is declining with increasing preference of long life and energy efficient pumps, which is another challenge faced by centrifugal pump manufacturers of centrifugal pumps globally.
The centrifugal pump industry is witnessing a trend of strategic acquisitions, with major player’s looking to expand in the global footprint. Even though the industry is largely fragmented with large number of players, organized players are advancing towards consolidation with large number of mergers and acquisitions taking place globally. With increasing energy cost and growing environmental awareness among end users, there has been higher adoption of for energy efficient centrifugal pumps by end users.
The trade-off between initial cost and life cycle cost has been playing a key role in the decision making of centrifugal pump end users
Product Type Analysis
The global centrifugal pump market is segmented on the basis of product type single-stage pump, multi-stage pump, sealless and circulator pump, axial and mixed flow and submersible pump. The submersible pump segment has been estimated to account for 27.8% share in terms of revenue in 2015, expanding at a healthy CAGR of 5.4% throughout the forecast period. The single- stage and multi-stage centrifugal pumps together accounted for 54.7% share of the overall centrifugal pumps market by the end of 2015. Each pump type is further segmented into small, medium and large capacity pumps on basis of HP (horsepower)
End Use Analysis
On the basis of end use, the global centrifugal pump market is segmented into industrial, agricultural and domestic. The industrial segment has been estimated to account for 66.8% revenue share in 2015, whereas the agricultural segment is anticipated to expand at a highest CAGR of 4.9% over the forecast period. Increasing arable land for farming and agriculture is one of the key drivers for increasing demand of centrifugal pumps in the agricultural segment. The industrial segment is further sub-segmented into water & wastewater treatment industry, chemical, power, oil & gas, pharmaceuticals, food & beverage and other industries which include, mining, ore processing and pulp and paper industries. The water & wastewater treatment industry is the largest industrial segment with 35.5% share in 2014, expanding at a CAGR of 5.5% over the forecast period.
By Region, the global centrifugal pump market is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ) and MEA. The APEJ region dominated in terms of revenue which accounted for 28.9% share in 2014 and is expected to account for 30.9% share by the end of 2025, expanding at a CAGR of 5.2% over the forecast period. China has been estimated to be the largest contributor for centrifugal pump with 60% share in 2015.
This FMI study offers a 10-year forecast of the global centrifugal pump market over 2015–2025. In terms of unit sales, the global centrifugal pump market is anticipated to expand at a CAGR of 4.2% during the forecast period (2015–2025). The study demonstrates market dynamics and trends across regions that are expected to influence current status and future prospects of the global centrifugal pump market over the forecast period.
The primary objective of the report is to offer recent drivers, restraints, trends, opportunities, end user survey, value chain analysis and updates on developments in the global centrifugal pump market and conduct quantitative as well as qualitative assessment of the market across various product types, pump capacity (HP), end use and regional market segments.
On the basis of product type, the global centrifugal pump market is segmented as follows:
- Single-stage pump
- Multi-stage pump
- Axial & Mixed Flow pump
- Submersible Pump
- Sealless & Circulator pump
On the basis of capacity type, the pump type is further sub-segmented on the basis of horsepower capacity (HP) as follows:
- Small Pump
- Medium Pump
- Large Pump
On the basis of end use, the global centrifugal pump market is segmented as follows:
The industrial segment is further sub-segmented
- Water & wastewater treatment
- Oil & gas
- Food & beverages
- Others (Mining, Ore processing, Pulp and Paper)
Globally, the centrifugal pump market is segmented as follows:
- Asia Pacific Excluding Japan (APEJ)
- North America
- Western Europe
- Eastern Europe
- Latin America
- Middle East & Africa
To understand and assess market opportunities and trends, the global centrifugal pump market report is categorically split into sections such as market overview, global industry analysis, pricing analysis for centrifugal pump by pump type and capacity among various regions, and consumption trends and analysis by product type, capacity, end use industries and region. Each section discusses the qualitative and quantitative aspects of the global centrifugal pump market. To give a brief idea about revenue opportunities from various product type, pump capacity, end use, region/country-wise segments, the report also provides volume data (‘000 units), absolute $ opportunity and total incremental opportunity for each segment over the forecast period.
The report starts with the market overview and provides market definition and analysis about drivers, restraints, opportunities, value chain analysis, end user survey and key trends in the market. The next section that follows includes global market analysis, analysis by product type, pump capacity, end use and regional/country level analysis and pricing analysis. All the above sections evaluate the market on the basis of various factors affecting the market, covering present scenario and future prospects. For market data analysis, the report considers 2014 as the base year, with market numbers estimated for 2015 and 2016 and forecast made for 2017–2025.
To calculate the market size, the report considers weighted average price of centrifugal pump by pump type and capacity, across geographies on a regional basis. The forecast assesses total revenue as well as volume (in ‘000 units) of the global centrifugal pump market. The data is triangulated on the basis of different verticals, considering supply side, demand side and dynamics of the regional markets, along with primary interviews of manufacturers and industry experts in the field of centrifugal pumps. However, quantifying the market across regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the forecast has been completed.
In the final section of the report, the centrifugal pump market structure and landscape with company market share is included to provide report audience with a dashboard view of the companies’ presence in the centrifugal pump market and their key strategies. Some of the major market players featured in the section include:
- ITT Corporation
- KSB AG
- Flowserve Corp
- Sulzer AG
- Ebara Corporation
- Weir Group Plc.
- Wilo SE
- Xylem Inc.
- Ruhrpumpen Group
- Vertiflow Pump Company
Centrifugal Pumps Market Reports - Table of Contents
1. Centrifugal Pump Market- Executive Summary
2. Research methodology
3. Assumptions and Acronyms Used