The increasing infrastructural development in commercial & residential areas worldwide, complimented by the expansion of the production sector, is anticipated to fuel the global demand for centrifugal pumps. Additionally, major economies’ rapid investments in the equipment of the
agricultural sector are anticipated to further boost the demand for these pumps.
Centrifugal pumps are increasingly sought after for pumping various liquids such as oils, solvents, organics, water, acids, & bases in agricultural, domestic & industrial, sectors. These pumps serve several benefits, such as smooth flow, corrosion resistance, low maintenance cost, and versatility in size, among others, which are expected to stimulate the demand in the market during the forecast period.
In the gas & oil sectors, the increasing investments in exploration & production activities by firms in the United States are anticipated to fuel the demand for centrifugal pumps. Moreover, the rising number of infrastructure advancements such as the replacement & upgradation of advanced pipelines, is expected to positively impact the market's growth. notable examples are the evolution of impellers with 3D printing & the use of modeling software. These advancements lead to improved & better performance, cost efficiency, & enhanced flow rates. Additionally, factors such as an increase in spending on desalination projects in industrial units & the growing desire for centrifugal pumps that are energy efficient are expected to further propel the market's expansion.
Moreover, SDG 6, which directs to provide access to clean water & sanitation for all by 2030, is pushing governments to take proactive measures. As governments took more initiatives to ensure safe water for drinking purposes for their citizens, the centrifugal pump sector is poised to benefit from this positive impact.
Furthermore, the global sector of industries is also increasingly prioritizing SDGs, leading to continuous research and development efforts to implement environmentally friendly technologies. The continuous spending in research and development for integrating newly developed technologies into centrifugal pumps is expected to drive market growth by 2032. A concrete example of this trend is Sulzer's launch of A-RO pumps, which expanded their high-yielding product portfolio for desalination projects, promising more efficiency and better cost efficiency. These developments highlight the sector’s commitment to sustainability & innovation.
Key Takeaways
- Market Size: The Global Centrifugal Pump Market is projected to reach USD 77,287.2 million in 2033, at a CAGR of 3.8 %.
- Market Definition: A centrifugal pump is a mechanical tool that uses rotational energy from an impeller to transport fluids through a piping system, usually utilized in water, wastewater, and commercial applications.
- By Flow Segment Analysis: Radial flow pumps are predicted to dominate in the global centrifugal pump market based on flow as it holds 68.4% of the market share in 2024.
- By Type Segment Analysis: Overhung impeller is predicted to dominate based on type in this market as they hold the highest market share in 2024.
- By Stage Segment Analysis: Single stage is predicted to dominate in the global centrifugal pump market based on stage as it holds the highest market share in 2024.
- By End-user Segment Analysis: The Agriculture sector has emerged as the dominant end-user in the global market as they hold the highest market share in 2024.
- Regional Analysis: North America dominates the global centrifugal pump market as it holds 48.9% of the market share in 2024.
Use Cases
- Water Supply Systems: Centrifugal pumps are widely utilized in municipal water supply structures to move water from treatment plants to residential, commercial, and industrial areas efficiently.
- Irrigation Systems: In agriculture, centrifugal pumps are important for irrigation systems, providing constant water drift to crops, enhancing productivity, and ensuring efficient water usage.
- HVAC Systems: Centrifugal pumps are vital in HVAC systems, circulating chilled or heated water to hold optimal temperatures in commercial and residential buildings.
- Industrial Fluid Handling: Centrifugal pumps are used in various industries to address and transport fluids such as chemical substances, petroleum, and food products, ensuring smooth and efficient processes.
Market Dynamic
Trends
Technological Advancements in Pump DesignThe global centrifugal pump market is poised for massive growth due to non-stop technological improvements in pump design. Innovations like smart pumps and energy-efficient models are using the demand for centrifugal pumps. These advancements enhance performance and reduce operational costs, making them attractive for diverse industries, inclusive of the oil and gas industry and the wastewater treatment industries. Market research reviews spotlight these traits as key drivers of market dynamics throughout the forecast period.
Growing Adoption in Emerging Markets
The adoption of centrifugal pumps is developing drastically in rising markets, especially in the Asia-Pacific area. The Asia-Pacific centrifugal pump marketplace is experiencing rapid growth due to increasing industrialization and infrastructure development. Market reviews imply that this location held the biggest market share in recent years. The growth of the construction enterprise and growing investments in water and wastewater treatment facilities are primary contributors to the growth of the centrifugal pump market in this region.
Growth Drivers
Rising Demand for Clean Water
The increasing global demand for clean water is a major factor driving the centrifugal pump market. Centrifugal pumps play a crucial role in water supply and wastewater treatment industries, addressing the needs of urbanization and population growth. According to market analysis, the growing emphasis on sustainable water management practices is boosting the market for centrifugal pumps across various regions, thereby enhancing the centrifugal pump market size.
Expansion of the Oil and Gas Industry
The expansion of the oil and gas industry significantly drives the global demand for centrifugal pumps. These pumps are used extensively in upstream, midstream, and downstream operations for fluid transportation and processing. Market research reports highlight that the oil and gas industry is expected to dominate the centrifugal pump market during the forecast period, as ongoing exploration and production activities necessitate reliable pumping solutions.
Growth Opportunities
Development of Energy-Efficient Pump Systems
The development of energy-efficient pump systems presents substantial growth opportunities in the centrifugal pump market. As energy costs rise and environmental regulations become stricter, the demand for energy-efficient centrifugal pumps is increasing. Manufacturers are investing in R&D to design pumps that consume less energy while maintaining high performance. This trend is expected to drive the centrifugal pump market growth and offer lucrative opportunities for market players.
Emerging Applications in Renewable Energy
Emerging applications of centrifugal pumps in the renewable energy sector offer significant growth opportunities. Centrifugal pumps are ideal for various applications in solar power plants, geothermal plants, and biofuel production. Market segmentation reports indicate that the integration of centrifugal pumps in renewable energy projects is gaining traction, contributing to the overall growth of the centrifugal pump market by type and expanding the global market size.
Restraints
High Initial Investment Costs
High initial investment costs for advanced centrifugal pump systems pose a restraint to market growth. Although these pumps offer long-term benefits in terms of efficiency and reliability, the substantial upfront costs can be a barrier for small and medium-sized enterprises. Market dynamics reports suggest that this factor may limit the widespread adoption of innovative centrifugal pump technologies, thereby affecting the market growth rate.
Maintenance and Operational Challenges
Maintenance and operational challenges associated with centrifugal pumps can hinder market growth. Issues such as wear and tear, cavitation, and the need for regular maintenance can lead to downtime and increased operational costs. Market analysis indicates that these challenges may impact the overall demand for centrifugal pumps, especially in cost-sensitive industries. Addressing these issues through improved design and materials is essential for sustained market expansion.
Research Scope and Analysis
By Flow
The radial flow pump is projected to dominate this segment with the maximum share in the market in 2024. Radial flow pumps operate by directing water to the outer edge of a rotating impeller. The discarded water is then captured by the casing, where its kinetic energy is converted into pressure energy before exiting the pump.
Moreover, the mixed-flow pump is anticipated to witness growth due to several advantages such as substantial fluid volume movement at reduced pressure requirements, enhanced discharge rates with comparatively low flow velocities, and efficient operation with minimal aerodynamic wastage.
Furthermore, the demand for axial flow pumps is anticipated to increase significantly due to the growing need for water & wastewater treatment units. Factors such as the increase in urban settlements, growth of the population, expansion of industries, and technical advancements have led to a rise in the need for freshwater, driving the market for axial flow pumps. Additionally, heightened investments by the government in the development of power generation and other such industries are expected to further fuel the market growth throughout the forecast period.
By Type
The market is projected to be led by the overhung impeller segment, with the maximum share in global revenue in 2024. Overhung impellers find widespread use in residential, industrial & commercial applications, driving the growth of this segment. Their popularity is also attributed to their cost-efficiency when it comes to other pumps, making them a preferred choice in various applications, such as in the generation of power.
The rise in demand for energy resources is driven by factors like rapid industrialization, increasing urbanization & growing technological developments. As a result, there is heightened use of centrifugal pumps in various sectors, like wastewater treatment, gas & oil, further fostering the market growth.
Different firms provide vertically suspended pumps with a wide range of products such as VS3 vertically suspended axial flow pumps, VS1/VS2 vertically suspended pumps, VS0 submersible pumps, VS4 vertical sump pumps, etc. Such diversity offered by firms positively impact the growth of the market by 2032.
By Stage
The single-stage holds the dominant position in this segment. This segment is anticipated to show steady growth for the years 2024-2033, due to its consistent operation during setup and needs low pressure with a higher rate of flow. These centrifugal pumps are widely used in various sectors, such as slurry pumping, sewage pumping, and industrial pumping. They are chosen for situations with mild to moderate fluid pressure conditions. Water pumping stations commonly employ these pumps due to their advantages, such as high reliability & lower cost for maintenance.
On the other hand, the multi-stage sector is anticipated to record a high Compound Annual Growth Rate by 2032. The increasing popularity of multi-stage centrifugal pumps can be accredited to their Optimal energy utilization, ease of installation, & maximized operations. Multi-stage pumps are present in various capacities to suit several sectors, budgets & volumes. Smaller pumps are suitable for tasks like heating plants, water supply piping, irrigation, agriculture, firefighting operations, boiler feed, autoclaves, etc. As a result of these benefits, the multi-stage centrifugal pump segment is anticipated to witness growth in the coming years.
By End-User
The market is divided into different end-user segments, including residential, commercial, industrial, and agriculture. The agriculture sector is expected to holds the dominant position in this segment in 2024. This growth is majorly driven by factors such as the expanding population of urban units, increased spending, & supportive government regulations enhancing the growth in the agriculture sector. Developing markets like Bangladesh, India, & China are expected to experience significant demand for centrifugal pumps in the agriculture segment due to these favorable conditions. As these countries continue to spend in modernizing their agricultural practices & improving irrigation systems, the need for centrifugal pumps in the agriculture sector is anticipated to register substantial growth.
The need for pump installations in various plants in industries has seen positive growth due to an essential requirement of transferring liquids in large volumes from one operation to another. Within the industrial sector, pumps are utilized in diverse applications like the treatment of wastewater, chemicals, food & beverages, gas & oil operations, mining, power generation, & others, to enhance the easy and fast flow of oil, slurry, chemicals, and liquids, in procedures. The agriculture segment is expected to experience significant growth, driven by the wide operating range, flexibility, quite economical for farmers, and ease of surface pumping for handling heavy volumes.
Furthermore, the commercial segment will also hold a substantial share during the forecast period, given their extensive usage in public establishments such as swimming pools, firefighting stations, sprinklers, fountains, drainage systems, and more. These pumps are crucial in maintaining various domestic functions like heating, ventilation, irrigation, air conditioning (
HVAC), sewage, drainage, garden watering, and water supply, among others.
The Global Centrifugal Pump Market Report is segmented on the basis of the following
By Flow
- Axial Flow
- Radial Flow
- Mixed Flow
By Type
- Between Bearing
- Axially Split
- Radially Split
- Overhung Impeller
- Close-Coupled
- Separately Coupled
- Vertically Suspended
- Sump Pumps
- Deep Well Pumps
By Stage
- Single-Stage Pump
- Multi-Stage
By End-Use
- Residential
- Domestic Water Supply Pumps
- Garden Pumps
- Sump Pumps
- Commercial
- Booster Pumps
- HVAC Pumps
- Fire Protection Pumps
- Industrial
- Agriculture
Regional Analysis
The Asia Pacific region is expected to take the lead in the Global Centrifugal Pump Market,
with 48.9% of the total global share in 2024. This significant growth is fueled by a growing customer population that has resulted in a substantial increase in the request for centrifugal pumps. Moreover, favorable financial conditions, a growing population, and one of the largest manufacturing industries are expected to have a positive effect on the market’s growth in this region.
North America is projected to experience a substantial CAGR for the period 2024-2033. This growth is majorly due to the advancements in technological industries, well-developed capacities for processing, a workforce with skills, & increasing research and development initiatives in the nation. In Europe, which comes after the Asia-Pacific region in terms of share in revenue generation. Moreover, the strict policies of the government related to the treatment of water play a crucial role in driving the centrifugal pumps’ growth. The region's market growth is also influenced by automation in industries, notable mergers, and acquisitions, expansion activities & policies for strategies.
In Latin America, the presence of abundant gas & oil reserves in countries like Colombia, Brazil, Argentina & Venezuela is anticipated to affect the market in a positive way. Additionally, expansions of airports and advancements in bigger commercial structures’ development, particularly in Colombia & Brazil, are set to fuel the need for centrifugal pumps in the region by 2033. Manufacturers in all these regions are focusing on new technological advancements to provide the best quality products in this increasing competition.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
Manufacturers of centrifugal pumps adopt diverse strategies, such as mergers, acquisitions, joint ventures, new product developments, and geographical expansions, to expand their market presence and meet the evolving technological demands in sectors like industrial and municipal applications.
An illustrative example of this is Xylem, Inc., which recently established a global pump manufacturing facility in Egypt. This new Xylem Egypt Plant is dedicated to manufacturing and assembling renowned water brands like Flygt, Lowara, and Bell & Gossett. The facility will also produce both parts and complete units. Initially, the plant's focus will be on manufacturing Split-Case Centrifugal pumps, which find applications in irrigation, HVAC systems, and commercial building services, along with End-Suction pumps catering to industrial and irrigation needs. This strategic move allows Xylem to better serve its customers and effectively respond to the dynamic market demands while tapping into the region's potential for growth.
Some of the prominent players in the Global Centrifugal Pump Market are
- Xylem
- Ebara Corporation
- GRUNDFOS
- Wilo Group
- The Weir Group PLC
- ITT Corporation
- Kirloskar Brothers Limited
- Gardner Denver Inc.
- Sulzer Management Ltd.
- Flowrox
- Baker Hughes
- Other Key Players
Recent Developments
- In January 2023, Grundfos Holding A/S acquired Water Works Inc. in San Diego, US. Water Works integrated into MECO, enhancing Grundfos' water treatment solutions for the life science and biopharmaceutical sectors.
- In January 2023, Xylem Inc. agreed to acquire Evoqua, a leader in critical water treatment solutions and services, to strengthen its position in the water treatment industry.
- In March 2022, Flowserve Corporation partnered with Gradiant to address challenging water and wastewater treatment issues. This collaboration combines Flowserve's flow control solutions with Gradiant's water treatment technology.
- In April 2022, GSD internally launched the ISH/ISP high-efficiency centrifugal pump. The pump, equipped with sensors, can provide real-time monitoring, predictive alarms, fault analysis, and energy efficiency analysis through the GSD intelligent IOT system.
- In March 2023, KSB acquired Bharat Pumps, a leading centrifugal pump manufacturer. KSB SupremeServ will manage spare parts and service for over 5,000 BP&CL products in various industries across India.