Centrifugal Pump Market Growth & Trends
The global centrifugal pump market size is expected to reach USD 66.64 billion by 2030, expanding at 3.5% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The centrifugal demand has escalated owing to the increase in pump demand for pressure fluids. The pumps are primarily used for accelerating fluids, like water, chemicals, sludge treatment liquids, wastewater, oil, bleaches, and resins.
Increasing demand for water in domestic and industrial applications due to the growing world population is driving the market growth. Expanding population, rapid urbanization, technological developments, and growth in infrastructure have augmented the demand for fresh and processed water across the globe. This in turn is expected to fuel the market growth over the forecast period.
In addition, water scarcity is affecting regions across the globe owing to the lack of freshwater resources, there is an increased need for wastewater treatment to meet the rising demand for clean water. This is expected to drive the global water and wastewater treatment equipment market over the forecast period.
Expanding industrial sectors including food & beverage, chemicals, pulp & paper, pharmaceutical, power, metal & mining, textiles, semiconductors, and oil & gas result in increased consumption of clean water, which is expected to drive the demand for the centrifugal pump industry across the globe.
Manufacturers of centrifugal pumps adopt several strategies including acquisitions, mergers, joint ventures, new product developments, and geographical expansions to enhance their market penetration and cater to the changing technological demand for equipment from various end-use industries such as agriculture, construction & building services, water & wastewater, power generation, oil & gas, chemical, and others. For instance, in October 2022, Sulzer introduces updated features for the AHLSTAR A line of process pumps. AHLSTAR A pumps made of ductile iron have a 180°C temperature limit and a maximum working pressure of 16 bars.
Request a free sample copy or view report summary:
Centrifugal Pump Market Report
Centrifugal Pump Market Report Highlights
- The single-stage segment accounted for 62.8% of the global revenue share in 2022.The single-stage centrifugal pump is most frequently used in sewage, slurry, and industrial pumping. For applications with low to moderate dynamic heads, the single-stage centrifugal pump is also preferred
- The market for mixed flow pumps is anticipated to grow as a result of advantages such as high low rates with low-pressure requirements, improved discharge rates with relatively low head velocities, and the flexibility to be adjusted to work effectively and efficiently with little aerodynamic loss
- Fluids that are combustible, violent, aggressive, or abrasive are easily handled by axial flow pumps. Automobile, manufacturing, and construction are just a few of the end-use sectors that employ chemicals. The expansion of the aforementioned sectors of the economy will probably increase demand for different chemicals, which will affect how widely axial flow pumps are used for chemical handling
- Asia Pacific accounted for around 47.2% of the global revenue share in 2022. The improving economic conditions, rising population, and the presence of one of the biggest manufacturing sectors are projected to impact regional growth positively
- In November 2022, In Kotka, Sulzer constructed a highly automated and digitalized pump production line. To ensure optimal production, digital and lean ideas have been included in the automated facilities’ architecture to enable quick and efficient operations
