Centrifugal Pump Market - Trends Forecast Till 2028

Market Overview

The global centrifugal pump market is projected to reach a size of USD 48.8 billion by 2026, at a CAGR of 5.9%, from an estimated USD 36.6 billion in 2021 during the forecast period 2021-2028

A centrifugal pump is a mechanical device designed to move a fluid by means of the transfer of rotational energy from one or more driven rotors, called impellers. The pump casing is specially designed to constrict the fluid from the pump inlet, direct it into the impeller and then slow and control the fluid before discharge.

Increasing investments in construction industry attributing to rapid urbanization, and high demand for centrifugal pumps in the agricultural sector are some of the factors that have supported long-term expansion for Centrifugal Pump Market.

The outbreak of the COVID-19 pandemic has slowed the growth of the centrifugal pump market. This slowdown is mainly due to economic contractions, resulted from a halt in investments from various end-use industries. For instance, in the mining industry, the ongoing impact of the COVID-19 pandemic remains uncertain; with every passing day, the crisis is adversely affecting the supply chains and demand for commodities.

Regional Analysis

Asia Pacific is expected to account for the largest market size during the forecast period. The region’s domination can be attributed to rapid economic expansion. The region is attracting investors to set up production facilities because of the availability of raw materials and labour at lower prices. Industrial activities are growing due to low manufacturing costs and the support of the local governments. Increasing investments in R&D is also one of the factors driving the centrifugal pumps market in Asia Pacific.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

• Grundfos
• KSB
• Flowserve
• Sulzer
• Xylem

Recent Developments

• In November 2020, Sulzer was awarded a contract from Ringkøbing-Skjern Forsyning A/S (a Danish water utility) to provide pumps for a major flood defense project in Denmark. Two new pumping stations have been constructed to mitigate the impact of rising water levels during rain, drainage, and cloudburst water. Sulzer will supply one XFP baseload pump and three VUPX peak load pumps for the Ringkøbing pumping station, together with one XFP baseload pump and four VUPX peak load pumps for the adjacent Skælbækker station.
• In May 2020, Wilo expanded its presence with the establishment of a new headquarter and production facility in Cedarburg, Wisconsin, US. The new headquarters will bring the combined operations of Wilo USA, Weil Pump, Scot Pump, and Wilo Machine Co. to a single production site.

Reasons to Acquire

• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Centrifugal Pump Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope