An Overview of Centrifugal Pumps Market
The global centrifugal pumps market will surpass US$ 40 Bn mark during the latter of forecast period, 2020-2030. Companies, globally, are increasingly capitalizing on water and wastewater treatment equipment, alerted by existing concern apropos water shortage. Increasing importance of water and wastewater treatments is infleucnign manufacturers to unleash growth potential in target end uses. As natural resources are on the verge of depletion, manufacturers are developing centrifugal pumps with better efficiency, and decreased fuel costs. In addition, elevating energy expenses are compelling market players to rethink their business models in a bid to enhance product inspection as well as curb environmental impact.
Key Research Findings
- The global centrifugal pumps market will register around US$ 40 Bn revenue in 2030.
- Notable rise infrastructure development projects, and greater focus on water and wastewater treatment would be the key growth drivers.
- Submersible pumps continue to shape market revenue growth; market players are investing in multi-stage pumps.
- Industrial sector would be the primary customer of centrifugal pumps; agricultural sector to offer potential growth prospects.
- Asia Pacific excluding Japan (APEJ) continues to maintain its supremacy in global centrifugal pumps market.
KEY FACTORS SHAPING CENTRIFUGAL PUMPS MARKET
Energy-efficient Products and Practices to Elevate Centrifugal Pumps Demand
The awareness towards energy efficient practices and products across all the end use industries is growing aiming to reduced cost of operation, reduced carbon foot print, and sustainable development. Thus, centrifugal pumps suppliers are inclined towards manufacturing products with improved efficiency and energy saving pumps in order to gain expanded customer base. Energy saving centrifugal pumps aids to the environment conservation policies and also saves hundreds of dollar annually. Thereby, driving the global centrifugal pumps market over the forecast period.
Optimization of Centrifugal Pumps and Production Process
A number of centrifugal pumps manufacturers are aiming to optimize their product production process to offer wide range of product offering in their portfolio and also offer customization at a quicker turnaround time. Since, customer requirements has moved to niche application from general, customisation has been reported to be a preferred option among customers.
Adjustable frequency drives with better energy saving capability are seen to be more adopted among end users. Variable frequency drive can increase speed of the pump or motor, which helps to protect assets and extend equipment life. Centrifugal pumps manufacturers are capitalizing on the opportunity of optimizing speed of large centrifugal pumps, which can save energy and reduce wear and tear of centrifugal pumps.
Development of Manufacturing & Supply Chain Networks
Mostly, small and medium size centrifugal pumps are sold through distributors. End users are inclined towards opting for centrifugal pumps distributors who provide engineering expertise, aftersales services and end-to-end solutions to meet specific demands of customers
- Global players such as Grundfos Holding A/S, KSB AG, and Wilo SE and Xylem Incorporation follow the strategy of expanding local networks by increasing tie-ups with regional as well as local distributors.
- Distributors of small and medium size pumps are focusing on multi-branding, which provides more options for customers to choose products specific to their requirement
- In case of small and medium size centrifugal pumps, around 75% of sales are carried out through distributors and remaining 25% is carried out through direct sales
- Direct sales channel is preferred for domestic and agricultural applications, while direct sales is the preferred choice for industrial applications
Regional Outlook of Centrifugal Pumps Market
Both in terms of volume and value share, the Asia Pacific excluding Japan is stipulated to hold a sizable share till the end of the projected period in the global centrifugal pumps market. Over three-fourth of APEJ centrifugal pumps market opportunity is expected to be generated from China and India. However, Amid the COVID-19 pandemic, economic crisis will largely hamper the growth of centrifugal pumps market throughout the year 2020.
Centrifugal Pumps Market Structure Analysis
- Key players in global centrifugal pumps market are exploring opportunities for long-term EPC (engineering, procurement and construction) contracts.
- The global centrifugal pumps market remains a fragmented landscape owing to strong presence of a large number of regional and in-house manufacturers.
Market Value in 2019
US$ 27.4 Bn
Product Type, Pump Capacity (HP), End Use
North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East & Africa.
Flowserve Corporation, KSB AG, Sulzer AG, Ebara Corporation, Grundfos Holding A/S, Xylem Inc., ITT Inc., The Weir Group PLC, Wilo SE, Tsurumi Manufacturing Co. Ltd., Kirloskar Brothers Ltd., DESMI A/S, and WPIL Limited.
Centrifugal Pumps Market Analysis by Pump Type
Submersible pumps deliver superior functional capability even when immersed in fluids, as well as are highly energy-efficient. By 2020, these pumps will register revenue worth around US$ 8 Bn. Multi-stage pumps, on the other hand, exhibit high-pressure boosting capacities, and efficiency as they incorporate smaller impeller diameters. They are considered suitable for broad range of flow/head scenarios and industrial applications including, power generation plants, and oil & gas refineries. Further, both, submersible and multi-stage pumps would collectively generate over 60% total returns to shareholders towards the end of projection timeframe.
Centrifugal Pumps Market Regional Analysis
Water & wastewater treatment industry has been experiencing top-line growth in Asia Pacific excluding (Japan) over the last few years. Swelling demand for freshwater and reusable water, owing to rising industrialization, and tech-driven advancements, is propelling the centrifugal pumps in the region. Countries - China and India - have increased their investments in infrastructure development projects. In addition, ever-growing need to reduce carbon footprint is translating to demand upsurge for cleaner sources of power generation. This, in turn, would enable broader adoption of centrifugal pumps as condensate extraction, boiler feed, and water cooling applications in power sector.
Technology Trends in Centrifugal Pumps Market - Micro Disc Pumps and VFD Technology
Trends such as portability, size reduction, and variable frequency drive operation are spurring the demand for centrifugal pumps that acquire smaller footprint, cause minimal noise, and are sustainable, sans compromising the performance. Micro disc pumping technology allows manufacturers to develop compact and energy-efficient centrifugal pumps. Micro disc pumps are conventional in pharmaceuticals and medical applications such as blood pressure measurement. Moving forward, variable frequency drives (VFD) are considered an economically viable option among end users, as they deliver power output as per requirement, while ensuring energy-efficiency.
Demand upsurge for submersible pumps
Multi-stage pumps to gain momentum
Surging installation in industrial sector
Stable adoption in agricultural sector
How Growth will Unfold
Industrial sector continues to remain the key customer of centrifugal pumps, capturing about 70% of overall market revenue. Under the category, majority of returns would be realized by water & wastewater applications, given surging demand for water for several industrial use cases. Uptick in global crude oil demand, in order to support production centers, overseas logistics, and domestic transports, is triggering offshore and onshore exploration activities. As such, players in centrifugal pumps market are also unpacking revenue lines in oil and gas sector.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Future Market Insights published its recent report on the global centrifugal pumps market, which comprises of the global industry analysis for 2015-2019 & opportunity assessment for 2020-2030. It includes a comprehensive assessment of relevant and related market dynamics. After conducting a complete analysis on the historical as well as current growth prospective of the centrifugal pumps market, the growth predictions for the market are obtained with maximum accuracy.
Centrifugal Pumps Market Taxonomy
The global centrifugal pumps market is segmented into four segments in detail to cover every aspect of the market and present complete market intelligence to the reader.
- Single-stage Pumps
- Multi-stage Pumps
- Axial & Mixed Flow Pumps
- Submersible Pumps
- Seal-less & Circulator Pumps
Pump Capacity (HP)
- Small Capacity Pumps
- Medium Capacity Pumps
- High Capacity Pumps
- Water & wastewater
- Oil & gas
- Food & Beverages
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Middle East & Africa (MEA)
The report begins with the executive summary of the centrifugal pumps market, which includes a summary of the key findings and statistics. It also includes the market value (~US$ million) estimates of prime segments of the market.
Readers can find detailed taxonomy and definitions for the market in this chapter, which will help them understand basic information about the market. This section also highlights the inclusions and exclusions, which help readers understand the scope of the centrifugal pumps market.
This chapter explains the key macroeconomic factors that are expected to influence the growth of the centrifugal pumps market over the forecast period. This section highlights the opportunity analysis and key market dynamics of the market such as drivers, restraints, trends, and opportunities.
Based on product type, the market is segmented into single-stage pumps, multi-stage pumps, axial & mixed flow pumps, submersible pumps, and seal-less & circulator pumps. In this chapter, readers can find information about the key trends and developments in the market, and the market attractiveness analysis based on product type.
This chapter provides details about the centrifugal pumps market on the basis of end use - industrial, agriculture and domestic. Industrial segment is further bifurcated into chemical, water & wastewater, oil & gas, power, pharmaceutical, food & beverages and others.
This chapter explains how the market will grow across several geographic regions such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan, and the Middle East & Africa (MEA).
This chapter includes detailed analysis of the growth of the market in North America, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find regional trends, regulations, and market growth based on end uses and countries in North America.
This chapter provides the growth scenario of the market in Latin American countries such as Mexico, Argentina, Brazil, and the Rest of Latin America. Along with this, an assessment of the market across target segments has been provided.
This chapter provides the growth scenario of the centrifugal pumps market in the Europe region with detailed country level analysis of Germany, the U.K., Spain, France, Italy, Nordic countries, BENELUX, and the Rest of Western Europe.
This chapter provides the growth scenario of the market in South Asian countries such as Russia, Poland, and Rest of Easter Europe. Along with this, an assessment of the market across target segments has been provided.
This chapter provides the growth scenario of the centrifugal pumps market in Asia Pacific Excluding Japan (APEJ) countries such as India, China, ASEAN, Oceania and Rest of APEJ. Along with this, an assessment of the market across target segments has been provided.
This chapter provides the growth scenario of the market in Japan.
This chapter provides the growth scenario of the centrifugal pumps market in countries in Middle East & Africa such as GCC countries, Israel, Turkey, South Africa and the Rest of MEA. Along with this, an assessment of the market across target segments has been provided.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the market report.
This chapter helps readers understand the research methodology followed to obtain several conclusions as well as important qualitative and quantitative information about the centrifugal pumps market.
This chapter includes company overview, revenue shares, strategic overview, and recent company developments. Some of the key market players featured in the report are Flowserve Corporation, KSB AG, Sulzer AG, Ebara Corporation, Grundfos Holding A/S, Xylem Inc., ITT Inc., The Weir Group PLC, Wilo SE, Tsurumi Manufacturing Co., Ltd., Kirloskar Brothers Ltd., DESMI A/S, WPIL Limited, among others.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Product Managers
- Business Development Officers
- Production Managers
- Procurement Heads
- Sales Executives
- Raw Material Suppliers
- Industry Experts
- End Users
- Current market dynamics and challenges
- Yesteryear trends
- Market characteristics
- Market performance and growth quadrants
- Competition structure and market structure
- Strategic growth initiatives
- Near-term and long-term market growth prospects
- Market segment splits and authenticity
- Opinions on market projections and validity of assumptions
- Industry Publications
- World Pumps
- World Bank
- Industry Associations
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits