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Centrifugal Pump Market Demand, Growth Opportunities, Trends, Forecast By 2030
Centrifugal Pump Market
According to MRFR analysis, the global Centrifugal Pump market is expected to register a CAGR of 4.01% from 2022 to 2030 and hold a value of over USD 40.1 billion by 2030.
A centrifugal pump is a type of pump that uses a rotating impeller to increase the velocity of a fluid and then converts that velocity into pressure to move the fluid through the pump and the system. Centrifugal pumps are commonly used in a wide range of industrial and commercial applications, including water supply, irrigation, mining, oil and gas, and chemical processing.
During the COVID-19 pandemic, the demand for centrifugal pumps may have been affected differently depending on the industry. For example, the pandemic has caused a slowdown in the oil and gas industry and subsequently, the demand for centrifugal pumps used in that industry may have decreased.
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However, the demand for centrifugal pumps used in water supply and irrigation may have increased as people spend more time at home and the water demand may have increased. Additionally, the pandemic has caused disruptions in the supply chain and labor force which may have delayed the production and delivery of centrifugal pumps in some areas.
Key Players
Grundfos (Denmark)
Flowserve (US)
KSB (Germany)
Circor International (US)
Sulzer (Switzerland)
ITT Corporation (US)
Wilo (Germany)
Ebara Corporation (Japan)
Pentair (US)
Someflu (France)
Baker Hughes A GE Company (US)
Weir (UK)
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Market Segmentation
The Global Centrifugal Pump market has been segmented into type, stage, and end-user.
Based on the type, the market has been segmented into Overhung Impellers, Vertically Suspended, and Between Bearings.
Based on the stage, the market has been segmented into Single and Multistage.
Based on the end user, the market has been segmented into Water & Wastewater, Oil & Gas, Chemical, and Power.
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Regional Analysis
North America is the leader in the centrifugal pump market share. Additionally, their industrial sectors have consumed a large volume of water, leading to depletions in the reservoir of underground water. In addition to this, people are beginning to believe in water reuse as a way to help conserve this natural resource.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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