According to the latest report by IMARC Group, titled "Centrifugal Pump Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global centrifugal pump market reached a value of US$ 30.9 Billion in 2022. A centrifugal pump is a device that is used to transfer fluids in inter-and-intra facilities. It can easily move higher viscosity fluids, medium to high viscosity fluids, liquefied gases, and water-like fluids. It is utilized to transfer liquids in bulk and provide efficient flow rates. It uses rotation to impart velocity to a liquid, convert that velocity into the flow, and convert rotational kinetic energy to hydrodynamic energy. These pumps are extensively used in water pumping, petroleum pumping, sewage water, and petroleum plants as they offer a smooth flow rate, easy maintenance, and increased operational efficiency.
Global Centrifugal Pump Market Trends:
The global market is majorly driven by rapid industrialization. In line with this, increasing investments in the construction industry, attributed to rapid urbanization, are positively influencing the market growth. Furthermore, the rising demand for centrifugal pumps in the agricultural sector acts as another significant growth-inducing factor. Apart from this, the growing demand for water and wastewater management is catalyzing the market. Moreover, rapidly developing commercial and residential infrastructure and the expanding manufacturing sectors are propelling the market. Besides this, the escalating demand for hydrocarbons to fuel various power generation requirements is strengthening the market. Additionally, numerous key players are integrating advanced technologies, such as network-based monitoring and the Internet of Things (IoT), with these pumps, thus creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 41.0 Billion by 2028, exhibiting a CAGR of 4.3% during 2023-2028.
- On the basis of the Impeller type, the market has been divided into overhung impeller, vertically suspended, and between bearing.
- Based on the stage, the market has been categorized into single stage pump, two stage pump, and multi-stage pump.
- On the basis of the flow type, the market has been classified into axial flow pumps, radial flow pumps, and mixed flow pumps.
- On the basis of the capacity, the market has been segmented into small capacity, medium capacity, and high capacity.
- On the basis of the end-user, the market has been segmented into chemicals, oil and gas, power generation, construction, pharmaceuticals, food and beverages, metals and mining, water and wastewater, and others.
- On the basis of the region, the market has been divided 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 the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the 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, and Xylem Inc.
|Base Year of the Analysis
||Impeller Type, Stage, Flow Type, Capacity, End-User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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 and Xylem Inc.
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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.
30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800