Global Centrifugal Pump Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Centrifugal Pump Market Overview:

“The global Centrifugal Pump Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.

The global centrifugal pump market report has been segmented on the basis of product type, stage, end user, and region.

Centrifugal pump is a mechanical device used to transfer liquid. Centrifugal pump converts rotational kinetic energy to the hydrodynamic energy of the fluid flow by use of electric motor, steam turbine, or gasoline engine.

Centrifugal pump is widely used for water, sewage, petroleum, and petrochemical pumping. Centrifugal pump consists of two main components: impeller and casing. When the impeller is made to rotate, it makes the fluid surrounding it also rotate and create centrifugal force to the water particles, and water moves radially.

Increasing infrastructural activities in both developed and developing economies is a key factor driving growth of the global centrifugal pump market. In addition, increasing government investments into recycling of waste water and replacement of existing water drainage system are other factors expected to boost growth of the global centrifugal pump market over the forecast period.

Moreover, increasing number of oil and gas exploration and production activities across the globe is expected to fuel growth of the global market.

However, availability of low cost and low-grade pump products in market is a major factor restraining growth of the global centrifugal pump market.

Additionally, centrifugal pump has some drawbacks such as inefficient for use in viscous liquid and incompetent to work under high pressures, are other factors expected to hamper growth of the global centrifugal pump market over the forecast period.

The market in Asia Pacific is expected to account for the largest share in terms of revenue as compared to other regions. This can be attributed to increasing demand for centrifugal pump from infrastructure industry in emerging economies such as China, Japan, India, etc.

The markets in Europe and North America is expected to register significant growth in terms of revenue over the forecast period, owing to rising demand for centrifugal pump for wastewater treatment plant from chemical industry in countries in the region. Furthermore, the market in Middle East & Africa is expected to register moderate growth in the target market over the forecast period.

Global centrifugal pump market segmentation:

By Product Type:

• Axial
• Mixed
• Radial

By Stage:

• Single Stage
• Multi Stage

By End User:

• Water & Wastewater
• Construction
• Energy & Power
• Food & Beverages
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa