Centrifugal Pump Market Analysis, Trends & Forecast 2024

IMARC Group, a leading market research company, has recently released a report titled “Centrifugal Pump Market Report by Impeller Type (Overhung Impeller, Vertically Suspended, Between Bearing), Stage (Single Stage Pump, Two Stage Pump, Multi-Stage Pump), Flow Type (Axial Flow Pumps, Radial Flow Pumps, Mixed Flow Pumps), Capacity (Small Capacity, Medium Capacity, High Capacity), End-User (Chemicals, Oil and Gas, Power Generation, Construction, Pharmaceuticals, Food and Beverages, Metals and Mining, Water and Wastewater, and Others), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the centrifugal pump market trends, trends, size, and industry trends forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

The global centrifugal pump market size reached US$ 32.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 47.2 Billion by 2032, exhibiting a growth rate (CAGR) of 4.2% during 2024-2032.

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Global Centrifugal Pump Market Trends:

The rise in the chemicals industry, which relies heavily on these pumps for fluid transport processes impelling the market growth. Concurrently, the surge in agricultural activities and the need for irrigation systems equipped with efficient pumping solutions is creating a positive outlook for market demand. Besides this, the increasing implementation of desalination projects worldwide, which require reliable and efficient pumps, strengthens the market growth.

Moreover, the boom in the mining industry, where centrifugal pumps are essential for dewatering and slurry transport, is supporting the market expansion.

Factors Affecting the Growth of the Centrifugal Pump Industry:

·         Expansion of infrastructure and industrial activities:

The demand for centrifugal pumps is closely tied to the global expansion of infrastructure and industrial sectors, including water and wastewater, oil and gas, power generation, and construction. These industries require robust and efficient pumping solutions for a variety of applications, from water supply and sewage disposal to process fluid handling and flood control systems. In developing countries, rapid urbanization and industrialization have led to increased investments in infrastructure projects such as new residential and commercial buildings, municipal water facilities, and power plants, contributing to the market expansion.

·         Advancements in pump technology:

Manufacturers are focusing on innovations that enhance pump efficiency, durability, and performance while reducing energy consumption and maintenance needs. Features such as improved impeller designs, magnetic drive systems that eliminate shaft seal leaks, and the integration of variable frequency drives (VFDs) that adjust pump speed based on demand are significant enhancements. These technologies offer better operational efficiency and align with the global push toward energy conservation and sustainable practices.

Moreover, the advent of smart pumps equipped with sensors and connectivity technologies for real-time monitoring, diagnostics, and remote control is bolstering the market growth.

·         Increased focus on wastewater management and energy efficiency:

Governments and regulatory bodies worldwide are increasingly focusing on environmental regulations, particularly concerning wastewater treatment and energy consumption. Centrifugal pumps, which are extensively used in wastewater management processes, must meet stringent standards to minimize environmental impact. This regulatory pressure prompts both public and private sectors to invest in upgrading their pump systems to more efficient and environmentally friendly models.

Additionally, the global emphasis on reducing carbon footprints has made energy efficiency a crucial factor in pump selection. Energy-efficient pumps, such as those conforming to the International Energy Agency (IEA) standards, are becoming more prevalent, providing an impetus to the market growth.

Centrifugal Pump Market Report Segmentation:

By Impeller Type:

·         Overhung Impeller

·         Vertically Suspended

·         Between Bearing

On the basis of impeller type, the market is segmented into overhung impellers, vertically suspended, and between bearings.

By Stage:

·         Single Stage Pump

·         Two Stage Pump

·         Multi-Stage Pump

Based on the stage, the market is classified into single-stage pumps, two-stage pumps, and multi-stage pumps.

By Flow Type:

·         Axial Flow Pumps

·         Radial Flow Pumps

·         Mixed Flow Pumps

On the basis of flow type, the market is segmented into axial flow pumps, radial flow pumps, and mixed flow pumps.

By Capacity:

·         Small Capacity

·         Medium Capacity

·         High Capacity

Based on the capacity, the market is divided into small capacity, medium capacity, and high capacity.

By End-User:

·         Chemicals

·         Oil and Gas

·         Power Generation

·         Construction

·         Pharmaceuticals

·         Food and Beverages

·         Metals and Mining

·         Water and Wastewater

·         Others

On the basis of end users, the market is bifurcated into chemicals, oil and gas, power generation, construction, pharmaceuticals, food and beverages, metals and mining, water and wastewater, and others.

Regional Insights:

·         North America

·         Asia Pacific

·         Europe

·         Latin America

·         Middle East and Africa

Based on the region, the market is segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.

Competitive Landscape with Key Players:

The competitive landscape of the centrifugal pump market size has been studied in the report with the detailed profiles of the key players operating in the market.

Some of These Key Players Include:

·         Baker Hughes (A GE Company)

·         Circor International Inc.

·         Ebara Corporation

·         Flowserve,

·         Grundfos Holding

·         ITT Corporation

·         Pentair Inc.

·         Someflu

·         Tsurumi Manufacturing Co. Ltd.

·         Weir

·         Wilo SE

·         Xylem Inc.

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Key Highlights of the Report:

·         Market Performance (2018-2023)

·         Market Outlook (2024-2032)

·         Market Trends

·         Market Drivers and Success Factors

·         Impact of COVID-19

·         Value Chain Analysis

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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