Centrifugal Pumps Market Competitive Growth Strategies Based on Type, Applications, End User and Region

Global sales of centrifugal pumps are set to be valued at over US$ 29 Bn in 2021, with a steady long-term projection, according to the latest insights by Future Market Insights (FMI). The report estimates the market to expand at 4.6% CAGR from 2021 to 2031. In the centrifugal pumps market, the industrial and domestic segments totaled US$ 24.3 billion for 2021, according to the annual market analysis conducted by FMI.

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Manufacturers need to evaluate life cycle costs and facilitate smart buying decisions. Centrifugal pump manufacturers need to analyze cost of energy and return of investment for centrifugal pumps compared to purchase and installation costs.

Key Takeaways from Centrifugal Pump Market Study
• Multi stage pumps are expected to hold over 50% of the global market share, supported by heavy duty requirements of the oil and gas sector.
• Water and wastewater applications are projected to hold over a third of the overall market share by 2031-end, aided by infrastructure investments in emerging economies.
• The market in the South Africa is projected to expand at a CAGR of around 5%, while that of Mexico accounts for approximately 4%, through 2031.
• The markets in India and South Korea are set to surge at higher than 5% CAGR over the coming decade.
• Germany will hold the lead in Europe with a valuation of over US$ 1.2 Bn in 2021. Major investments in the natural gas sector will provide impetus.

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Competitive Landscape
The centrifugal pumps market is highly consolidated, with key players accounting for more than four-fifth of the market share. These players are likely to invest in technology developments and the expansion of their networks in order to maintain their market shares.
Some of the key players in this industry include but are not limited to Ebara Corp., Xylem Inc., Sulzer AG, KSB Group, Flowserve Corp., and Kirloskar Brothers.

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By Segmentation:
By Product Type:
• Single Stage Pump
o Small
o Medium
o High
• Multi Stage Pump
o Small
o Medium
o High
• Axial & Mixed Flow Pump
o Small
o Medium
o High
• Submersible Pump
o Small
o Medium
o High
• Seal Less & Circular Pump
o Small
o Medium
o High
By Application Type:
• Industrial Centrifugal Pumps
o Oil & Gas
o Chemical
o Water & Wastewater
o Food & Beverage
o Pharmaceutical
o Power
o Others
• Agricultural Centrifugal Pumps
• Domestic Centrifugal Pumps
By Region:
• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East and Africa (MEA)

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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

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