Centrifugal Pump Market Overview, Growth, Trends, Analysis, Research Report (2021-2031)

The Centrifugal Pump market size is projected to reach US$ 41,548.34 million by 2031 from US$ 27,338.55 million in 2023. The market is expected to register a CAGR of 5.4% during 2023–2031. The growing application of centrifugal pumps in wastewater treatment, oil and gas, mining, and modern farming sectors is likely to remain a key trend in the market.

Centrifugal Pump Market Analysis

The growing population and rising urbanization are increasing the volume of wastewater globally. The increasing number of water and wastewater treatment facilities is one of the major drivers for the growth of the centrifugal pump market. Governments of numerous countries are concentrating on installing proper wastewater treatment capabilities to protect the environment from pollution, which is steering the growth of the centrifugal pump market worldwide. Frequent requirements for maintenance might hinder the growth of the market. However, the growing demand for centrifugal pumps in the construction and mining sectors is steering the growth of the centrifugal pump market globally.

Centrifugal Pump Market Overview

The growing government focus on building smart cities and advanced water and wastewater treatment facilities, along with growing development in the agricultural sector, is driving the application of centrifugal pumps globally. The rising development in the construction sector with numerous new infrastructure projects is also boosting the growth of the centrifugal market at the global level.

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Centrifugal Pump Market: Strategic Insights

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Centrifugal Pump Market Drivers and Opportunities

Increasing Application of Centrifugal Pumps in the Mining Sector to Favor Market 

The growing development in the mining sector, along with discoveries of new mine sites are acting as a major driver for the centrifugal pump globally. Centrifugal pumps are primarily used for transporting fluids by transforming rotational kinetic energy to hydrodynamic energy. In the mining sector, centrifugal pumps are attached to pipes or hoses for transporting fluids or slurry. Thus, the growing number of mining projects in developed and developing nations are anticipated to drive the application of centrifugal pumps which is acting as a major driver for the market.

Growing Emphasis on Wastewater Treatment

Wastewater treatment or management is a major application area of centrifugal pumps. The growing government emphasis on boosting infrastructure development is simultaneously fuelling the application of centrifugal pumps globally. The growing urbanization and rapid industrialization are propelling the demand for proper water and wastewater treatment facilities for environment protection and streamlining the water supply in remote locations which is anticipated to provide growth opportunities for the centrifugal pump market over the forecast period.

Centrifugal Pump Market Report Segmentation Analysis

Key segments that contributed to the derivation of the Centrifugal Pump market analysis are stage, operation type, type, and sector.

• Based on the stage, the centrifugal pump market is divided into single stage and multistage. The single stage segment held a larger market share in 2023.
• By operation type, the market is segmented into electric, hydraulic, and air driven. The electric segment held a significant share of the market in 2023.
• By type, the market is segmented into overhung impeller, vertically suspended, and between bearing. The overhung impeller segment held a significant share of the market in 2023.
• Based on the sector, the centrifugal pump market is divided into oil & gas, chemicals & petrochemicals, mining, power generation, automotive, agriculture, HVAC, wastewater management, and others. The wastewater management segment held a significant share of the market in 2023.

Centrifugal Pump Market Share Analysis by Geography

The geographic scope of the Centrifugal Pump market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

Asia Pacific is leading the market. The growing government focus on maintaining proper water and wastewater treatment facilities is one of the prime drivers for the market in the region. Growing government initiatives for establishing smart cities with advanced infrastructure are driving the requirement for smart pumps for better water supply and wastewater management, which is also fueling the application of centrifugal pumps in the region. In addition, the rising development in the construction sector and the growing number of commercial spaces and residential complexes are also driving the usage of centrifugal pumps. The growing proliferation of smart and precision farming, along with the growing number of greenhouses are also supporting the usage of centrifugal pumps in the Asia Pacific. Thus, the rising implementation of advanced farming methods owing to the upward demand for organic food is estimated to generate sufficient growth opportunities for the centrifugal pump market players in the Asia Pacific.

Centrifugal Pump Market Regional Insights

The regional trends and factors influencing the Centrifugal Pump Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Centrifugal Pump Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Centrifugal Pump Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Centrifugal Pump Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Centrifugal Pump Market are:

1. Ebara Corporation
2. Grundfos Holding A/S
3. KIRLOSKAR BROTHERS LIMITED
4. KSB SE & Co. KGaA
5. PLEUGER INDUSTRIES
6. Sulzer Ltd

Disclaimer: The companies listed above are not ranked in any particular order.

Centrifugal Pump Market News and Recent Developments

The centrifugal pump market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Centrifugal Pump market are listed below:

• EBARA Pumps Europe launches the In-line pump model 3E/3ES. (Source: Ebara Corporation, Company Website, December 2022)
• KSB acquired Bharat Pumps and Compressors' technology. (Source: Ebara Corporation, Press Release, March 2023)

Centrifugal Pump Market Report Coverage and Deliverables

The “Centrifugal Pump Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Centrifugal pump market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Centrifugal pump market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST and SWOT analysis
• Centrifugal pump market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the centrifugal pump market
• Detailed company profiles