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Centrifugal Pump Market Landscape 2025: Forecast Data and Growth Strategy Insights
Centrifugal Pump
What Is the Expected CAGR for the Centrifugal Pump Market Through 2025?
In the past few years, there has been significant growth in the centrifugal pump market. The market size is anticipated to rise from $40.85 billion in 2024 to $43.46 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.4%. The uptick during the historic period is due to several factors: enhanced demand for agricultural purposes, widespread implementation of solar-water pumps, an increase in food production demand, the expansion of residential and commercial infrastructure, as well as a growing aging population.
What's the Projected Size of the Global Centrifugal Pump Market by 2029?
Anticipations are high that the size of the centrifugal pump market will experience robust growth in the upcoming years. The market is projected to escalate to $54.95 billion by 2029, with a compound annual growth rate (CAGR) of 6.0%. This anticipated growth within the speculated period could be the result of a rising preference for single-stage centrifugal pumps, an upsurge in the demand for clean water, growing attraction towards electric versions, increased investments in construction, and escalating oil and gas production. Noteworthy trends throughout the projected period involve technological innovations, the adoption of solar-powered centrifugal pumps, the application of cutting-edge technologies, the creation of advanced technologies, and the development of energy-efficient centrifugal pumps.
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Top Growth Drivers in the Centrifugal Pump Industry: What's Accelerating the Market?
The centrifugal pumps market is predicted to grow as the agriculture sector expands. The agricultural sector, which includes the production, processing, and distribution of crops, livestock, and other farm produce, is expanding due to changes in dietary habits, increased environmental awareness, and higher investments in agricultural research, development, and infrastructure. Centrifugal pumps contribute to agricultural efficiency and productivity by offering water management, irrigation, and related solutions that are both reliable and effective. For example, the Department for Environment Food & Rural Affairs, a UK government agency, reported in February 2024 that the average farm business income (FBI) across all UK farms noticeably increased from $50,461 (£46,500) in 2020/21 to $78,133 (£72,000) in 2021/22. This growth in the agricultural sector is driving the expansion of the centrifugal pumps market.
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What Trends Will Shape the Centrifugal Pump Market Through 2029 and Beyond?
Leading businesses in the centrifugal pump market are targeting the creation of novel products like magnetic drive (mag-drive) pumps to augment efficiency, minimize upkeep, and bolster safety by obviating the requirement for shaft seals. Mag-drive pumps, also referred to as magnetic drive pumps, embody a form of centrifugal pump constructed to discard the use of conventional shaft seals, hence diminishing maintenance expenses and thwarting hazardous fluid leaks. As an example, in February 2024, DESMI, a Denmark-based firm specializing in industrial pumps, introduced its mag-drive centrifugal pumps devised to securely manage corrosive and volatile fluids. These pumps showcase an airtight sealed design and a high-efficiency magnetic coupling system, guaranteeing dependable and safe functionality in demanding situations. This pump technology bolsters operational safety and efficiency, catering to the needs of industries with stringent fluid handling norms, like chemical processing and pharmaceuticals.
What Are the Main 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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Which Top Companies are Driving Growth in the Centrifugal Pump Market?
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.
Which Regions Will Dominate the Centrifugal Pump Market Through 2029?
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.
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