Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Centrifugal Pump Market Size is Expected to Grow from USD 38.16 Billion in 2023 to USD 58.10 Billion by 2033, at a CAGR of 4.29% during the forecast period 2023-2033.
Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Centrifugal Pump Market Size, Share, and COVID-19 Impact Analysis, By Configuration (Single Stage and Multistage), By Design (Radial and Axial), By End User (Agriculture, Construction & Building Services Water & Wastewater, Power Generation, Oil & Gas, Chemical, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033
The global centrifugal pump market refers to the industry involved in the manufacturing, marketing, and distribution of pumps that generate hydrodynamic energy from rotational kinetic energy for transporting fluids. Water and wastewater treatment, oil and gas, chemical processing, power generation, and agriculture are among the majority of the industries that use these pumps significantly. Key driving factors for the growth of the centrifugal pump market include the demand for water and wastewater treatment technologies has increased significantly as a consequence of growing urbanization and industrialization. The demand for effective fluid transportation systems has been further encouraged by the growing infrastructure projects and the increasing number of people worldwide. Additionally, the expansion of sectors including power generation, chemicals, oil and gas, and pharmaceuticals has led to greater utilization of centrifugal pumps due to their effectiveness in managing large-volume liquid transfer. However, massive initial investment and ongoing upkeep expenses, particularly for sophisticated and energy-saving pump systems. The inability of many small and medium-sized businesses (SMEs) to purchase these upscale solutions may restrict their ability to expand into fresh markets.
The single stage segment accounted for the largest revenue share in 2023 and is projected to grow at a significant CAGR during the forecast period.
On the basis of configuration, the global centrifugal pump market is divided into single stage and multistage. Among these, the single stage segment accounted for the largest revenue share in 2023 and is projected to grow at a significant CAGR during the forecast period. The segment growth is attributed because of its increased infrastructure development, growing industrial uses, significant demand in water treatment, enhanced energy efficiency, cost-effectiveness, and reliability in low-to-moderate pressure operations.
The radial segment accounted for the highest revenue share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period.
On the basis of design, the global centrifugal pump market is divided into radial and axial. Among these, the radial segment accounted for the highest revenue share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period. The segment growth is driven by its exceptional energy conversion, large industrial use, compact design, high-pressure generation efficiency, capacity to manage an assortment of flow conditions, and significant demand in water treatment and processing sectors.
The agriculture segment accounted for the highest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
On the basis of end user, the global centrifugal pump market is divided into agriculture, construction & building services, water & wastewater, power generation, oil & gas, chemical, and others. Among these, the agriculture segment accounted for the highest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segment is driven by increasing demands for irrigation, an increase in automated farming, government assistance for water management, fluid transfer efficiency, durability, inexpensive maintenance, and expanding use in developing nations like China and India.
North America is anticipated to hold the largest share of the global centrifugal pump market over the predicted timeframe.
North America is anticipated to hold the largest share of the global centrifugal pump market over the predicted timeframe. The regional market growth can be attributed to growing shale oil production, increasing demand in the industries of power generation, water treatment, and renewable energy, improvements in energy-efficient pump technology, expanding infrastructure, and strict environmental requirements, all support effective fluid management. The region is an important participant in the market because of developments in the geothermal and biofuel sectors, which further increase demand.
Asia Pacific is expected to grow at the fastest CAGR in the global centrifugal pump market during the forecast period. The regional market growth can be attributed driven by countries like China, India, and Japan are the major contributors to market expansion, with their well-established industries in key industry sectors like petrochemical, power, or electricity. The market is additionally impacted by government investments in wastewater treatment, infrastructure development, advances in pump efficiency, and the high demand for irrigation from agriculture, growing water treatment requirements.
Company Profiling
Major vendors in the global centrifugal pump market are Grundfos, Xylem, Flowserve, ITT Corporation, CIRCOR International, Baker Hughes, Gardner Denver, Ebara Corporation, Kirloskar Brothers Limited, Tsurumi Manufacturing, and others.
Key Target Audience
Recent Development
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global centrifugal pump market based on the below-mentioned segments:
Global Centrifugal Pump Market, By Configuration
Global Centrifugal Pump Market, ByDesign
Global Centrifugal Pump Market, By End User
Global Centrifugal Pump Market, Regional
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