Press release
Global Hot Water Circulator Pump Market Is Booming Worldwide 2023 By Prominent Players: Xylem, Grundfos, Emile Egger & Cie SA, Flowserve Corp, Armstrong Fluid Technology Limited, Calpeda S.p.A, AUMA Riester GmbH & Co. KG
Hot Water Circulator Pump Market
The global market has seen a rising demand for hot water circulating pump owing to its growing demand from its application sectors such as residential, commercial and industrial. The demand for residential purpose has been the major driving factor. Moreover, the rising preference for hot water in cold countries, have fuelled the demand for hot water circulating pumps. On the other hand, the high prices of circulating pump, higher maintenance and installation cost, have been the major restraining factors for the global hot water circulator pump market.
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Market Drivers and Restraints:
Hot water circulation pumps are being mandatorily installed in commercial as well as residential buildings. Increasing adoption of hot water circulation pumps for commercial and domestic purposes is propelling the growth of the global hot water circulation pump market. Implementation of regional standards and codes are also projecting to impact positively on the expansion of the global hot water circulation pump market. However, high cost of such pumps and their higher installation and maintenance charges are likely to hamper the growth of the global hot water circulation pump market during the forecast period.
Rise in adoption of energy efficient technologies and rapid infrastructural development are inducing high demand for hot water circulation pump, resulting in the expansion of the global hot water circulation pump market. The hot water circulation pumps are extensively utilized in various industrial sectors. Industrial development is one of the major factors that are driving the expansion of the global hot water circulation pump market.
Competitive Dashboard
The major players that are profiled by MRFR in the report on the global hot water circulation pump market are Xylem Inc (the U.S.), Grundfos (Denmark), Emile Egger & Cie SA (Switzerland), Flowserve Corporation (the U.S.), Armstrong Fluid Technology Limited (Canada), BacoEngineering.com (the U.K.), Taco (the U.S.), Calpeda S.p.A (Italy), AUMA Riester GmbH & Co. KG (Germany), and Saer Elettropompe SpA (Italy).
Industry Segmentation
The global hot water circulation pump market has been segmented on the basis of type and application.
Based on type, the hot water circulation pump market has been segmented into single stage pump and multi-stage pump.
Based on application, the hot water circulation pump market has been segmented into residential, commercial and industrial. The industrial segment is leading the global hot water circulation pump market owing to the high need for hot water circulation pump in various industries such as food and beverages, textile, power plants, chemicals, pharmaceutical and others.
Regional Outlook
Geographically, the global hot water circulation pump market is segmented into five major regions such as the U.S., Europe, China, Japan and the rest of the world.
The hot water circulation pump market in the U.S. region is the second largest in the global market. China is one of the major manufacturers of hot water circulation pump in the global market owing to the presence of high number of domestic players in this region.
The Europe region is leading the global hot water circulation pump market owing to the easy adoption of technologically advanced water circulation systems, presence of well-developed building infrastructure, and the increased manufacturing of advanced hot water circulation pumps in this region. Germany, the U.K., France and Netherlands are the leading countries that are driving the hot water circulation pump market in the Europe region.
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