Centrifugal Pumps Market Outlook by Key Players, Industry Overview, Supply and Consumption Demand Analysis By 2033
Global sales of centrifugal pumps are set to be valued at over US$ 12.3 Billion in 2023, with a steady long-term projection, according to the latest insights by Future Market Insights (FMI). The report estimates the market to expand at 6.6% CAGR from 2023 to 2033. In the centrifugal pumps market, the industrial and domestic segments totaled US$ 23.3 billion for 2033, according to the annual market analysis conducted by FMI.
FMI predicts healthy growth in the oil and gas industry,
particularly in economies such as China, U.S., the Middle East, and Africa.
Centrifugal pumps are important for ensuring accurate and repeatable
transportation and pumping operations in the industry. As a result, the rise in
oil and gas sector activities around the world is driving demand for
centrifugal pumps.
The presence of numerous Chinese players offering low-priced
centrifugal pumps acts as a restraint to most regional and global players.
Increasing price pressure from these players is influencing key suppliers to
offer high-quality, reliable, efficient and technologically-advanced
centrifugal pumps at competitive rates.
Get | Download Sample Copy @
https://www.futuremarketinsights.com/reports/sample/rep-gb-498
Global demand for centrifugal pumps is directly correlated
to infrastructure development activities worldwide. Governments of developing
countries such as China and India are focusing on urbanization, which in turn
is anticipated to fuel demand for centrifugal pumps particularly in domestic,
Water and wastewater treatment industries.
Manufacturers need to evaluate life cycle costs and
facilitate smart buying decisions. Centrifugal pump manufacturers need to
analyze cost of energy and return of investment for centrifugal pumps compared
to purchase and installation costs.
Key Takeaways from Centrifugal Pump Market Study
- Multi
stage pumps are expected to hold over 50% of the global market share,
supported by heavy duty requirements of the oil and gas sector.
- Water
and wastewater applications are projected to hold over a third of the
overall market share by 2031-end, aided by infrastructure investments in
emerging economies.
- The
market in the South Africa is projected to expand at a CAGR of around 5%,
while that of Mexico accounts for approximately 4%, through 2031.
- The
markets in India and South Korea are set to surge at higher than 5% CAGR
over the coming decade.
- Germany
will hold the lead in Europe with a valuation of over US$ 1.2 Billion in
2021. Major investments in the natural gas sector will provide impetus.
“Developing nations are exhibiting high demand for
centrifugal pumps for industrial and commercials applications, driven by rising
investments into water and wastewater infrastructure by governments. This will
enable growth in the overall market through 2031,” says a
Future Market Insights analyst.
Centrifugal Pump Market Competitive Landscape
The centrifugal pumps market is highly consolidated, with
key players accounting for more than four-fifth of the market share. These
players are likely to invest in technology developments and the expansion of
their networks in order to maintain their market shares.
Some of the key players in this industry include but are not
limited to Ebara Corp., Xylem Inc., Sulzer AG, KSB Group, Flowserve Corp., and
Kirloskar Brothers.
Find More Valuable Insights in Centrifugal Pump Market
The research report analyzes demand for centrifugal pump.
The global centrifugal pump market has been analyzed with the COVID-19 impact,
various macroeconomic factors, market trends & market background. As per
Future Market Insights’ research scope, the market has been analyzed on the
basis of product type, application, and region. The report provides qualitative
and quantitative information on various players in this market. This report
also tracks the market by both, supply side and demand side.
Centrifugal Pumps Market by Category
By Product Type:
- Single
Stage Pump
- Small
- Medium
- High
- Multi
Stage Pump
- Small
- Medium
- High
- Axial
& Mixed Flow Pump
- Small
- Medium
- High
- Submersible
Pump
- Small
- Medium
- High
- Seal
Less & Circular Pump
- Small
- Medium
- High
By Application Type:
- Industrial
Centrifugal Pumps
- Oil
& Gas
- Chemical
- Water
& Wastewater
- Food
& Beverage
- Pharmaceutical
- Power
- Others
- Agricultural
Centrifugal Pumps
- Domestic
Centrifugal Pumps
By Region:
- North
America
- Latin
America
- Europe
- East
Asia
- South
Asia & Pacific
- Middle
East and Africa (MEA)
Comments
Post a Comment