Centrifugal Pump Market Share, Size, Revenue, Latest Trends, CAGR Status, Growth Opportunities and Forecast 2028

The global centrifugal pump market size is projected to reach USD 45.56 billion by 2028, exhibiting a CAGR of 5.9% during the forecast period. The market was valued at USD 29.24 billion in 2020 and is estimated to reach USD 30.56 billion in 2021. Rising commercial and residential infrastructure developments and extensive pump adoption in several applications are expected to boost market development. Fortune Business Insights™ mentions this information in its report titled “Centrifugal Pump Market, 2021-2028.”

Centrifugal pumps are utilized to transfer liquids in bulk and provide efficient flow rates. Increasing developments in commercial and residential infrastructure are expected to boost the adoption of these pumps. Furthermore, the rising adoption of pumps in several applications is expected to boost the pump’s demand. In addition, the incorporation of sensors is expected to boost the product’s sales. For example, KSB announced its “KSB guard” to monitor pump systems utilizing sensors at Germany's ACHEMA global trade fair. These factors are likely to boost the market development during the upcoming years.

Available Sample Report-
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/centrifugal-pump-market-101079

List of Key Players Profiled in this Market Report
• GRUNDFOS (Denmark)
• KSB Company (Germany)
• Wilo Group (Germany)
• Flowrox (Finland)
• Sulzer (Switzerland)
• Xylem (U.S.)
• Dover Corporation (U.S.)
• The Weir Group PLC (Scotland)
• Ebara Corporation (Japan)
• ITT Corporation. (U.S.)
• Flowserve Corporation (U.S.)
• Kirloskar Brothers Limited (India)

Key Advantages of Centrifugal Pump Market Report:
• Identification and analysis of the market size and competition
• Qualitative and quantitative analysis of the market data
• Data validated by industry experts after extensive primary and secondary research
• Extensive regional analysis of the Centrifugal Pump Market industry
• Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
• SWOT and Porter’s Five Forces Analysis for an in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, restraints, challenges, risks, and limitations

Conclusively, all aspects of the Centrifugal Pump Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations, and its future prospects.

Report scope can be customized as per requirements. Click here:
https://www.fortunebusinessinsights.com/enquiry/customization/centrifugal-pump-market-101079

Segments
By flow, the market is segmented into mixed flow, radial flow, and axial flow. By stage, it is bifurcated into multi-stage and single-stage. As per end-user, it is categorized into industrial, agriculture, commercial, and residential. Geographically, it is grouped into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

COVID-19 Impact
Halt in Operations to Impede Market Growth
This market is expected to be negatively affected by the COVID-19 pandemic because of the halt on production and manufacturing activities. The sudden spike in COVID-19 patients led to the imposition of stringent lockdown regulations, which, in turn, led to supply chain disruptions. However, effective sanitization and reduced capacities enabled manufacturers to boost their productivity and recover losses. These factors are likely to foster market growth during the pandemic.

Click here to get the short-term and long-term impact of COVID-19 on this market.
Please visit:
https://www.fortunebusinessinsights.com/industry-reports/centrifugal-pump-market-101079

Drivers and Restraints
Rising Commercial and Residential Spaces Construction to Boost Market Development
Increased focus on infrastructure development is expected to boost centrifugal pumps’ adoption. Increasing population and rapidly increasing spending capacity are expected to fortify centrifugal pumps’ adoption. Several private and public entities invest heavily in the refurbishment of existing establishments and constructing new buildings. The adoption of these pumps eliminates problems related to low-pressure and aids in delivering energy-efficient solutions to satisfy HVAC and water supply requirements. In addition, the rising population and construction of smart cities lead to the adoption of these pumps, thereby boosting sales. These factors are likely to drive the centrifugal pump market growth.
However, problems regarding cavitation and priming may hinder the market progress.

Speak to Analyst –
https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/centrifugal-pump-market-101079

Regional Insights
Rising Demand for Energy and Stringent Government Initiatives to Boost Market Growth in the Asia Pacific
Asia-Pacific is expected to dominate the centrifugal pump market share during the forecast period because of the rising energy demand. The market in Asia-Pacific reached USD 11.46 billion in 2020 and is expected to gain a remarkable market share in the upcoming years. Furthermore, increasing energy demand alongside rising progress in the processing and manufacturing industry is expected to boost market growth.
In Europe, the presence of several centrifugal pump manufacturers and the adoption of stringent government initiatives to prevent water pollution are expected to boost adoption. Furthermore, the emergence of several new power generation plants and rising cooling and space heating systems are expected to boost centrifugal pumps’ demand. These factors may initiate market growth.
In North America development of industrial establishments and rising construction expenditure is expected to boost the adoption of the product. Additionally, the increased oil & gas production targets may foster market development.

Competitive Landscape
Major Players Engage in Partnerships to Boost Brand Image
Prominent companies operating in the market devise partnership strategies to offer effective services and improve brand image. For example, Xylem Inc. and ESRI engaged in a partnership to service utilities globally in April 2021. The companies will pursue collaborative selling, joint marketing, solution development, and joint technical road mapping through this partnership. Further, companies adopt novel product launches, acquisitions, expansion, research, and development strategies to boost their market position globally.

Check Discount –
https://www.fortunebusinessinsights.com/enquiry/check-discount/centrifugal-pump-market-101079
Industry Development
•June 2021: Kirloskar Brothers Limited launched a new manufacturing division named Advanced Technology Product Division that includes specialized pumps for nuclear applications.

Table of Contents:
• Introduction
o Research Scope
o Market Segmentation
o Research Methodology
o Definitions and Assumptions
• Executive Summary
• Market Dynamics
o Market Drivers
o Market Restraints
o Market Opportunities
• Key Insights
o Key Emerging Trends – For Major Countries
o Latest Technological Advancements
o Regulatory Landscape
o Industry SWOT Analysis
o Porters Five Forces Analysis
• Qualitative Analysis – Impact of COVID-19
o Impact of COVID-19 on the Centrifugal Pump Market
o Steps Taken by the Government to Overcome the Impact
o Key Developments by the Industry Players in Response to COVID-19
o Potential Opportunities and Challenges due to COVID-19 Outbreak
• Global Centrifugal Pump Market Analysis (USD Billion), Insights and Forecast, 2017-2028
o Key Findings / Summary
o Market Analysis, Insights, and Forecast – By Flow
 Axial Flow
 Mixed Flow
 Radial Flow
o Market Analysis, Insights and Forecast – By Stage
 Single-Stage
 Multi-Stage
o Market Analysis, Insights, and Forecast – By End-User
 Residential
 Commercial
 Agriculture
 Industrial
• Water & Wastewater
• Oil & Gas
• Power Generation
• Mining
• Chemicals
• Food & Beverage
• Others
o Market Analysis, Insights and Forecast – By Region
 North America
 Europe
 Asia Pacific
 Latin America
 Middle East & Africa
• North America Centrifugal Pump Market Analysis (USD Billion), Insights and Forecast, 2017-2028
o Key Findings / Summary
o Market Analysis, Insights and Forecast – By Flow
 Axial Flow
 Mixed Flow
 Radial Flow
o Market Analysis, Insights and Forecast – By Stage
 Single-Stage
 Multi-Stage
o Market Analysis, Insights, and Forecast – By End-User
 Residential
 Commercial
 Agriculture
 Industrial
• Water & Wastewater
• Oil & Gas
• Power Generation
• Mining
• Chemicals
• Food & Beverage
• Others
TOC Continued.!

Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
LinkedIn: https://www.linkedin.com/company/fortune-business-insights
Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd

About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

This release was published on openPR.