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Centrifugal Pumps Market Growth Driven By Expansion In The Agriculture Sector: A Significant Driver Propelling The Centrifugal Pump Market In 2025
Centrifugal Pump
What Is the Centrifugal Pump Market Size and Projected Growth Rate?
The centrifugal pump market has witnessed steady growth. It is expected to grow from $40.85 billion in 2024 to $43.46 billion in 2025, with a CAGR of 6.4%. The historical growth can be attributed to increasing demand in the agricultural sector, the rising adoption of solar-powered water pumps, growing food production needs, expanding residential and commercial infrastructure, and a growing elderly population.
The centrifugal pump market is anticipated to grow steadily, reaching $54.95 billion by 2029 at a CAGR of 6.0%. This growth will be fueled by increasing demand for single-stage centrifugal pumps, the rising need for freshwater, growing interest in electric variants, higher spending on construction, and expanded oil and gas production. Major trends in this sector include technological advancements, the adoption of solar-powered centrifugal pumps, the implementation of modern technologies, the development of innovative solutions, and the push for energy-efficient centrifugal pumps.
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What Are the Major Segments in the Centrifugal Pump Market?
The centrifugal pumpmarket covered in this report is segmented -
1) By Type: Overhung Impeller, Between Bearing, Vertically Suspended
2) By Stage: Single Stage, Multistage
3) By Operation: Electrical, Air-Driven, Hydraulic
4) By End-User: Industrial, Agricultural, Domestic
Subsegments:
1) By Overhung Impeller: Single Stage Overhung Impeller Pumps, Multi-Stage Overhung Impeller Pumps, End Suction Overhung Impeller Pumps
2) By Between Bearing: Horizontal Between Bearing Pumps, Vertical Between Bearing Pumps, Multi-Stage Between Bearing Pumps
3) By Vertically Suspended: Vertical Inline Pumps, Vertical Turbine Pumps, Submersible Vertical Suspended Pumps
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What Are The Driving Centrifugal Pump Market Evolution?
The expansion of the agriculture sector is fueling the centrifugal pumps market. As agricultural practices grow to meet global food demand, centrifugal pumps become increasingly vital for irrigation, water management, and enhancing productivity. The rise in farm incomes, particularly in the UK, reflects a broader trend in agricultural growth that supports centrifugal pump demand.
Which Firms Dominate The Centrifugal Pump Market Segments?
Major companies operating in the centrifugal pump market are General Electric Company, Dover Corporation, Schlumberger Ltd., Baker Hughes Co., Ingersoll Rand Inc., WEG S.A., Alfa Laval AB, Ebara Corporation, Grundfos Holding A/S, Pentair plc, Flowserve Corporation, Sulzer Brothers Ltd., ITT Inc., Weir Group plc, Gardner Denver LLC, CIRCOR International Inc., Ruhrpumpen Group, DESMI A/S, Shakti Pump Ltd., HERMETIC-Pumpen GmbH, Klaus Union GmbH & Co. KG, CP Pumpen AG, HOMA Pumpenfabrik GmbH, The PROLAC HCP Pump, Mody Pumps Inc., PSP Pumps Pvt. Ltd.
What Trends Are Driving Growth in The Centrifugal Pump Market?
In the centrifugal pump market, companies are developing magnetic drive (mag-drive) pumps to enhance efficiency, reduce maintenance, and improve safety by eliminating the need for shaft seals. For example, in February 2024, DESMI, a Denmark-based industrial pump company, launched mag-drive centrifugal pumps. These pumps feature a hermetically sealed design and an efficient magnetic coupling system, making them ideal for handling corrosive and volatile fluids in industries such as chemical processing and pharmaceuticals.
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Which Is The Largest Region In The Centrifugal Pump Market?
Asia-Pacific was the largest region in the centrifugal pump market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the centrifugal pump market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Centrifugal Pump Market?
2. What is the CAGR expected in the Centrifugal Pump Market?
3. What Are the Key Innovations Transforming the Centrifugal Pump Industry?
4. Which Region Is Leading the Centrifugal Pump Market?
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