Centrifugal Pump Market Size To Expand at a Notable CAGR Of 4.01% During 2020 - 2027 :
Market Research Future published a half-cooked research report on global Centrifugal Pump market. The Centrifugal Pump market is expected to expand at ~ 4.80% CAGR during the period 2018 to 2023.
Market Highlights
Centrifugal Pump is a type of pump that uses impeller to move water or other fluids. These pumps are used to induce flow by increasing the pressure of the fluid. The centrifugal pump is commonly used in industries such as water wastewater, power, chemical, oil gas, and others. Advantages of centrifugal pump includes easy to handle, compact in size, and can be used to lift highly viscous liquid such as paper pulp, muddy and sewage water, sugar molasses, and oil.
Based on end-user, the market is segmented as water wastewater, oil gas, chemical, power, and others. Water wastewater segment is estimated to dominate the market during the forecast period due to rising investment in waste water industry across the globe. The awareness level of water reuse has increased due to the decreasing level of groundwater globally. Industrial sector consumes a large volume of water, and due to depleting reserves of groundwater, the reuse of water has become essential. The governments across the world are focusing on the development of strict regulatory policies to build sustainable water systems which would in turn drive the use of centrifugal pumps in this industry.
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The global Centrifugal Pump market is expected to grow at ~ 4.01% CAGR during the forecast period.
Market Research Analysis
North America accounts for the largest market share whereas Asia-Pacific is the fastest growing region.
Region wise, North America held the largest market share of the global Centrifugal Pump market in 2017. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the rising investment infrastructure development. Moreover, he increased demand from the water and wastewater sector, moderate demand from constructions sector, rising urbanization, and supportive government plans are expected to drive the market for centrifugal pumps in Asia Pacific region. The pumps market would be mainly driven by the growing need for water conservation in the countries such as US and Canada.
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Scope of the Report
This report provides an in-depth analysis of the global Centrifugal Pump market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific (APAC), Europe, Middle East, Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Centrifugal Pump market by its type, stage, end-user, and by region
By Type
Overhung Impeller
Vertically suspended
Between-Bearing
By Stage
Single stage
Multistage
By End-User
Water and Wastewater
Oil Gas
Chemical
Power
Others
By Regions
North America
Asia-Pacific
Europe
Middle East
Africa
South America
Key Players
The key players of the global centrifugal pump market are Xylem (US), Grundfos (Denmark), Flowserve (US), KSB (Germany), Circor International (US), Sulzer (Switzerland), ITT Corporation (US), Wilo (Germany), Ebara Corporation (Japan), Pentair (US), Someflu (France), Baker Hughes, A GE Company (US), and Weir (UK).
