The leading analysts and researchers at Reports and Insights compiled and outlined the assessment of the influence of recommendations on market operations and exercises. The research comprises data driven by the market’s historical and present circumstances, as well as other elements impacting the market’s development process. It comprises the leading-age and up-to-date information on the global “Centrifugal Pump Market” outlook. The evaluation goes into information about revenue forecasts, volume, demand, growth, share, kinds, applications, and sales, among other things. The research analyzes a range of critical restrictions, comprising manufacturing capacity, item pricing, profit and loss figures, and distribution approaches.
The global centrifugal pump market was valued US$ 34.1 Bn at the end of 2022 and expected to reach at a value of US$ 53.1 Bn by 2030 with a significant CAGR of 5.7%.
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Centrifugal Pump Introduction
Centrifugal pump can be perceived as a mechanized device intended to stir and drive a fluid by way of the transference of rotatory force from a single or more than one driven rotors, known as impellers. The fluid embarks the briskly spinning impeller past its pivot and is tossed out by centrifugal force past its periphery through the impeller’s blade tips. The movement of the impeller escalates the fluid’s pressure and velocity and also leads it around the pump output. The pump sheath is particularly designed to compress the fluid from the pump intake, lead it into the impeller and further slow it down and regulate the fluid before release.
Centrifugal Pump Market Dynamics
The centrifugal pumps majorly finds application in moving fluids like water or any other fluids, and thus it serves great utility in water and wastewater management industries, chemical, oil & gas and other industries across the world, which primarily boosts the growth of the global centrifugal pump market.
Additionally, the higher investments in wastewater treatment plants and systems is also playing a positive role in accelerating the growth of the global centrifugal pump market.
By the same token, the swiftly evolving industrial, commercial as well as residential infrastructure further stimulates the demand of centrifugal pumps for several different uses. Owing to which, the global centrifugal pump market is expected to develop substantially over the forthcoming years.
Also, in present times, the revolutionizing manufacturing sector associated with various industry vertices posing huge demand for centrifugal pumps is also majorly expected to propel the growth of the global centrifugal pump market in the years to come.
However, the sluggish growth of the oil & gas industry in the current times, owing to the decreased investments in new projects as well as termination or annulment of existing projects, is likely to hold back the growth of the global centrifugal pump market over the coming years.
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Centrifugal Pump Market Segmentation
The global centrifugal pump market is segmented on the basis of pump type, stage, end-use and regions. On the basis of pump type, the centrifugal pump market is segmented into overhung impeller, vertically suspended, and between bearings. On the basis of stage, the market is categorized into Single Stage and Multistage. On the basis of end-user, the market is divided into industrial, commercial and residential.
The research report classifies the global centrifugal pump market based on pump type, stage, end-use, and regions.
By Pump Type
Overhung Impeller
Vertically Suspended
Between Bearing
By Stage
Single Stage
Multistage
By End User
Industrial
Commercial and Residential
By Region
North America
Latin America
Africa
Europe
Asia Pacific
Middle East
Centrifugal Pump Market Key Players
Key participating players in global centrifugal pump market are Grundfos, Xylem, KSB, Flowserve, Sulzer, Wilo, Weir, ITT Corporation, CIRCOR International, Baker Hughes, Gardner Denver, Pentair, Ebara Corporation, Kirloskar Brothers Limited, Tsurumi Manufacturing, Leo, HCP Pump, Proril, CNP Pumps, PSP Pumps, Zhejiang Doyin Technology, Alfa Laval, SPT Pumpen, Grindex, Xavitech, Vansan, Griswold (A PSG Dover Company), Schlumberger, Mody Pumps, and WEG.
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