Global Centrifugal Pump Market Size, Share, and COVID-19 Impact Analysis, By Operation (Electrical, Hydraulic, and Air Driven), By Stage (Single Stage and Multi-Stage), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 - 2035

Global Centrifugal Pump Market Insights Forecasts to 2035

• The Global Centrifugal Pump Market Size Was Estimated at USD 41.8 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of around 5.56% from 2025 to 2035
• The Worldwide Centrifugal Pump Market Size is Expected to Reach USD 71.8 Billion by 2035
• North America is Expected to Grow the fastest during the forecast period.

The Global Centrifugal Pump Market Size Was Worth around USD 41.8 Billion in 2024 and is predicted to Grow to around USD 71.8 Billion by 2035 with a compound annual growth rate (CAGR) of 5.56% from 2025 and 2035. Key driving factors of the global centrifugal pump market include rising industrialization, increasing water and wastewater treatment demand, growth in oil & gas exploration, and expanding infrastructure development projects worldwide.  

Market Overview

The Centrifugal Pump Market Size encompasses the global business activity related to the design, manufacturing, sales, and distribution of centrifugal pumps. These pumps are mechanical devices that use rotational energy to move fluids by converting it into kinetic energy and then into pressure. The market includes various applications across industries such as water and wastewater management, oil and gas, chemical processing, and power generation. Centrifugal pumps are utilized in the oil and gas industry to move oil and petroleum products, liquefied gases, and various fluids throughout operations. The increase in oil and gas infrastructure development is anticipated to significantly boost the centrifugal pump market throughout the forecast period.

As per the BP Statistical Review of World Energy 2022, global natural production totaled roughly 4,036.9 billion cubic meters (bcm) in 2021, marking a 4.5% increase from the 3,861.5 bcm noted in 2020 and approximately a 15% rise since 2015. Likewise, global demand for natural gas reached approximately 40,37.5 bcm in 2021, reflecting a 5% increase from 3845.6 bcm in 2019 and about a 16% increase compared to 2015. The rising production and use of natural gas are anticipated to boost the worldwide need for centrifugal pumps.

Report Coverage

This research report categorizes the centrifugal pump market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the centrifugal pump market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the centrifugal pump market. 

Driving Factors

The expansion of the centrifugal pump sector is mainly fueled by the rising need for effective water and wastewater management systems. With urban populations growing and industries aiming to enhance their operations, the demand for dependable and efficient pumping solutions has increased. Moreover, technological progress and automation in pump design are boosting operational efficiency, positioning centrifugal pumps as a favored option for multiple applications in areas such as construction, agriculture, and manufacturing.

Restraining Factors

A major limitation for the centrifugal pump sector is the substantial initial capital outlay needed for implementation. Numerous sectors might be discouraged by the expenses linked to buying and setting up these pumps, particularly in areas where finances are limited.  

Market Segmentation

The centrifugal pump market share is classified into operation and stage.

• The electrical segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period.

Based on the operation, the centrifugal pump market is divided into electrical, hydraulic, and air driven. among these, the electrical segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. Electric centrifugal pumps are recognized for their reliability and efficiency. They can be equipped with variable frequency drives (VFDs) or electronic controllers, offering precise regulation of pump speed and output. This adaptability enhances their efficiency in various uses, making them a preferred choice in industries like water treatment, oil and gas, and production.

• The single stage segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the stage, the centrifugal pump market is divided into single stage and multi-stage. among these, the single stage segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period. They are particularly ideal for applications with low to moderate total dynamic head (TDH) requirements, which makes them suitable for water distribution, irrigation, and wastewater management. Their ability to handle elevated flow rates efficiently enhances their applicability across various industries.

Regional Segment Analysis of the Centrifugal Pump Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the Centrifugal Pump market over the predicted timeframe.

Asia Pacific is anticipated to hold the largest share of the Centrifugal Pump market over the predicted timeframe. Asia Pacific holds the largest market share due to the presence of developing nations in the region, like India, which is a significant market for agricultural centrifugal pumps. Agriculture plays a major role in the Indian Economy. For example, the Provisional Estimates of National Income, 2022-23, released by the National Statistical Office (NSO) under the Ministry of Statistics & Programme Implementation, indicate that agriculture and related sectors contributed approximately 18.4% to India's Gross Value Added at current prices in 2022-23.

North America is expected to grow at a rapid CAGR in the Centrifugal Pump market during the forecast period. The North American market is projected to expand significantly as the oil and gas sector greatly increases the demand for these pumps, especially in the U.S. Centrifugal pumps play a crucial role in upstream, midstream, and downstream operations. It is utilized in uses like cooling systems, refining procedures, fluid transportation, firefighting, and more. In February 2024, ITT Inc. secured a three-year agreement to supply specialized API-610 centrifugal pump systems, as well as related products and engineered services, to the energy and petrochemical company ExxonMobil.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Centrifugal Pump market, along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Grundfos
• Flowserve Corporation
• Sulzer
• Wilo SE
• CIRCOR
• Baker Hughes
• Alfa Laval
• Ingersoll Rand
• WEG
• Schlumberger
• Kirloskar Brothers Limited
• Pentair
• VANSAN Water Technologies
• PSP Pumps Pvt, Ltd
• LEO Pump
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In September 2024, Grundfos, a global leader in innovative pumping solutions and water technologies, unveiled revolutionary solutions designed to help industries achieve energy efficiency and net-zero emissions goals at the Industry End-User Fair 2024 in India.  

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the Centrifugal Pump market based on the below-mentioned segments: 

Global Centrifugal Pump Market, By Operation

• Electrical
• Hydraulic

Global Centrifugal Pump Market, By Stage  

• Single Stage
• Multi-Stage

Global Centrifugal Pump Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa