Global Centrifugal Pump Market to Reach US$ 47.2 Billion by 2032, Impelled by Rapid Industrialization

September 21, 2022 | Energy & Mining

According to the latest report by IMARC Group, 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 global centrifugal pump market reached a value of US$ 32.3 Billion in 2023. 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$ 47.2 Billion by 2032, exhibiting a CAGR of 4.2% during 2024-2032. 

Market Summary:

  • 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.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Impeller Type, Stage, Flow Type, Capacity, End-User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Centrifugal Pump Market to Reach US$ 47.2 Billion by 2032, Impelled by Rapid Industrialization
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