Centrifugal Pump Market

The global centrifugal pump market size was valued at USD 39.7 billion in 2023 to USD 51.5 billion by 2028; it is expected to record a CAGR of 5.4% during the forecast period. The centrifugal pumps are widely used in industries such as wastewater treatment, chemicals, and petrochemicals. In the wastewater treatment industry, centrifugal pumps play a crucial role in processes like sewage transfer, sludge handling, and effluent treatment. As there is a growing focus on environmental conservation and stricter regulations regarding wastewater management, the demand for centrifugal pumps in this sector is expected to increase.

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Centrifugal Pump Market Dynamics

Driver: Rising demand from agriculture sector

Agriculture holds an important position in the economies of most emerging nations, where conventional irrigation techniques are commonly employed by farmers. Centrifugal pumps are widely preferred in the agricultural sector. Notably, the agriculture industry has been an early adopter of solar-powered centrifugal pumps. Consequently, governments in numerous emerging economies provide subsidies to enhance irrigation system efficiency and boost agricultural productivity. The projected growth in the demand for staple products is primarily driven by the increasing global population, with Sub-Saharan Africa and South Asia expected to experience the fastest growth rates. Sub-Saharan Africa has witnessed remarkable agricultural production growth since 2000, surpassing other regions worldwide. Africa possesses the potential to meet not only its own food requirements but also contribute to global food supply. Agriculture remains a vital sector in many African countries, and this upward trend in the agricultural industry is anticipated to drive the global demand for centrifugal pumps.

Restraint: Cavitation effect and dry-run failures in centrifugal pumps

Cavitation occurs when a liquid experiences reduced pressures at a constant temperature, leading to the formation of vapor bubbles within centrifugal pumps. These vapor bubbles then migrate towards areas of higher pressure within the pumps, where they collapse under sufficient pressure and revert to a liquid state. The implosion of these bubbles causes small fragments of metal to detach from the impeller surfaces, resulting in low-frequency vibration, noise, and significant damage to the centrifugal pumps. This adversely affects the pump's performance, leading to decreased sales and increased costs for replacements. Consequently, failures related to cavitation and dry-run scenarios can impede the growth of the centrifugal pump market.

Opportunity: Increased adoption of solar water pumps

Solar-powered centrifugal pumps are predominantly utilized in areas where grid electricity is unavailable. These pumps harness solar energy as their power source. The solar energy is converted into electrical energy through generators, which subsequently powers electric motors to operate the pumps. This provides an alternative and independent energy system that ensures the reliability and functionality of irrigation systems, thereby mitigating the risks of crop failures associated with traditional irrigation methods. Implementing solar water pumps in Africa presents an ideal solution compared to reliance on fuel-based sources, as it can foster growth and sustainability throughout the continent. According to the United Nations (UN), approximately 2.2 billion individuals lack access to safe drinking water, and water usage is steadily increasing at a rate of 1% per year. Furthermore, over 80% of wastewater is discharged into the environment without any treatment. The UN World Water Development Report 2020 states that the manufacturing industry consumes 19% of freshwater, a figure projected to rise to 24% by 2050. These factors contribute to the growing demand for centrifugal pumps.

Challenge: High competition from unorganized sector

Prominent manufacturers are facing tough competition from unorganized players in the market who offer inexpensive and substandard products. The unorganized sector comprises local and gray market players. Local players manufacture and sell goods under their own brand names, while gray market players engage in unauthorized import and sale of goods. These unorganized market players hold an advantage over larger competitors in terms of pricing, competitiveness, and their well-established local supply networks, which are challenging for global players to replicate. The increasing sales generated by local and gray market players reduce the opportunities for global players to expand their revenue and market share. This dynamic acts as a barrier for global players to enter local markets, consequently limiting their investments in these markets.

Centrifugal Pump Ecosystem

Prominent companies in this market include well-established raw material providers/suppliers, component manufacturers, centrifugal pump manufacturers/assemblers, ditributors/end users, and post-sales services. These companies have been operating in the market for several years and possess state-of-the-art technologies, substabtial R&D investments, a diversified product portfolio, and strong global sales and marketing networks. Xylem Inc. (US), Sulzer (Switzerland), KSB (Germany), Grundfos Holding A/S (Denmark), and Flowserve Corporation (US) are some of the prominent companies in this market.

By stage, single stage segment is expected to be the fastest-growing market segment during the forecast period.

This report segments the centrifugal pump market based on stage into single stage and multistage. Single stage centrifugal pumps are widely employed in various applications, making them the most commonly used type of centrifugal pumps. They are particularly suitable for situations where the total dynamic head (TDH) is low to moderate. While single stage centrifugal pumps demonstrate proven reliability, it is important to note that they have a limited TDH capacity. However, one of their advantages is the comparatively lower maintenance costs when compared to multistage pumps. The growth of the single stage centrifugal pump market in North America can be attributed to several factors. Firstly, there is a significant focus on modernizing existing water supply and wastewater treatment plants in the region. Additionally, increased investments are being made to establish new manufacturing facilities, further driving the demand for single stage centrifugal pumps. Furthermore, ongoing developments in the oil and gas sector in the US also contribute to the growth of this market.

By End User, the pharmaceuticals segment in industrial end user is expected to be the fastest-growing during the forecast period

The centrifugal pump market has been categorized based on industrial end user into oil and gas, water and wastewater, mining and metals, chemicals, power generation, food and beverages, pharmaceuticals, pulp and paper, agriculture, automotive, and textiles.

Centrifugal pumps play a crucial role in the pharmaceuticals industry, serving a variety of applications. They are utilized for efficiently handling large volumes of aggressive and corrosive materials and liquids, as well as for transferring oils and solvents. The growth of the pharmaceutical industry, driven by the expanding global population, generates a heightened demand for centrifugal pumps in this sector. Additionally, the growing need for accessible healthcare services further propels the growth of the centrifugal pump market in the pharmaceuticals industry. Extensive research, development, and production of medicines and vaccines also contribute significantly to the increased demand for centrifugal pumps in the pharmaceuticals sector.

“Asia Pacific is projected to be the fastest-growing region during the forecast period”

Asia Pacific is expected to fastest growing region in the centrifugal pump market between 2023–2028, followed by North America. Centrifugal pumps find extensive applications in various sectors across Asia Pacific, including water and wastewater treatment facilities, residential and commercial buildings, as well as agricultural settings. The region is witnessing a rising demand for food production due to population growth, the necessity to enhance agricultural yields with limited resources, and the need to safeguard crops against unpredictable climate changes. These factors are driving the adoption of centrifugal pumps in the agricultural sector throughout Asia Pacific. Given that agriculture serves as the backbone of many countries in the region, there is a projected increase in the demand for centrifugal pumps in Asia Pacific. Hence, these factors are expected to fuel the growth of the centrifugal pump market in the Asia Pacific region.

Key Market Players

Global players dominate the centrifugal pump market. The major players in the centrifugal pump market are Xylem Inc. (US), Sulzer (Switzerland), KSB (Germany), Grundfos Holding A/S (Denmark), and Flowserve Corporation (US). Strategies such as product launches, acquisitions, partnerships, and contracts are followed by these companies to capture a significant share of the centrifugal pump market.

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Scope of the Report

This research report categorizes the centrifugal pump market by type, operation type, stage, end user, and region.

On the basis of type:

• Overhung Impeller
• Between Bearing
• Vertically Suspended

On the basis of operation type:

• Electrical
• Hydraulic
• Air-driven

On the basis of stage:

• Single Stage
• Multistage

On the basis of end user:

• Industrial
  • Oil and Gas
  • Water and Wastewater
  • Mining and Metal
  • Chemicals
  • Power Generation
  • Food and Beverages
  • Pharmaceuticals
  • Pulp & Paper
  • Agriculture
  • Automotive
  • Textiles
• Commercial and residential

On the basis of region:

• Asia Pacific
• Europe
• North America
• South America
• Middle East
• Africa

Recent Developments

• In January 2023, Grundfos Holding A/S acquired Water Works Inc. based in San Diego, US, and expanded the water treatment solutions platform inside the Industry division. Water Works got integrated intos MECO, strengthening the Group’s water solutions offerings to the life science and biopharmaceutical segments.
• In January 2023, Xylem Inc. entered into an agreement under which Xylem will acquire Evoqua, a leader in mission-critical water treatment solutions and services.
• In March 2022, Flowserve Corporation entered into a partnership agreement with Gradiant to help address the most challenging problems in water and wastewater treatment. This partnership will combine Flowserve’s flow control solutions and product expertise with Gradiant’s water treatment technology to provide unparalleled total water treatment solutions for the customers.

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