Press release
Radial Flow Pump Market Poised to Hit $29.23 Billion by 2029 with Accelerating Growth Trends
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.Radial Flow Pump Market Size Growth Forecast: What to Expect by 2025?
The market size for radial flow pumps has been on a consistent incline in the past few years. The market is set to expand from $24.5 billion in 2024 to $25.14 billion in 2025, registering a compound annual growth rate (CAGR) of 2.6%. Factors driving growth during the historic period include increased use in industrial scenarios, heightened demand for pumps that optimize energy, development and expansion of water and wastewater facilities, burgeoning infrastructure projects, and broadened oil and gas exploration endeavours.
How Will the Radial Flow Pump Market Size Evolve and Grow by 2029?
The market for radial flow pumps is projected to experience consistent expansion in the coming years. The market valuation is forecasted to reach $29.23 billion by 2029, growing at a compound annual growth rate (CAGR) of 3.8%. The growth during the projected period is associated with advancements in automation technology, heightened awareness about environmental sustainability, increased utilization in the renewable energy sector, emphasis on high-pressure applications, and the incorporation of Industry 4.0 norms. The forecast period is characterized by massive trends such as advancements in technology, innovative improvements, the integration of digitalization, the acceptance of sustainable practices, and the introduction of pioneering sealing technologies.
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What Drivers Are Propelling the Growth of Radial Flow Pump Market Forward?
The radial flow pump market is anticipated to witness significant growth due to the increasing oil and gas exploration activities. These exploration processes involve finding and identifying possible sites for drilling and extraction of crude oil and natural gases. The escalating global energy demand has propelled the expansion of these explorations, necessitating the discovery of new hydrocarbon reserves to secure energy supply and satisfy the needs of industrial, transportation, and household consumption. Radial flow pumps play a crucial role in oil and gas operations, particularly in the high-pressure transfer of fluids, injection, and circulation during drilling, refining, and production stages. As an illustration, Statistics Canada reported a 6.8% surge in the production of crude oil and equivalent products in June 2024, reaching 23.9 million cubic meters, indicating the ninth consecutive month of year-over-year growth. Consequently, the increasing oil and gas exploration activities are boosting the radial flow pump market's growth.
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Which Emerging Trends Are Transforming the Radial Flow Pump Market in 2025?
Prominent firms in the radial flow pump market are focusing on geographical expansion, which includes establishing manufacturing facilities to increase production levels, improve operational effectiveness, and cater to the growing worldwide demand for high-end pumping solutions. Manufacturing plants are industrial sites where raw materials undergo processing and assembly into completed products via systematic production practices. In July 2023, for example, Xylem Inc., an American water technology firm, launched a new pump manufacturing plant in Egypt to bolster local production and contribute to water infrastructure schemes. This facility is designed to promote supply chain efficiency, curtail regional customer lead times, and produce advanced water and wastewater pumps suitable for local needs. This move is consistent with Xylem's plans to consolidate its position in the burgeoning markets.
What Are the Key Segments in the Radial Flow Pump Market?
The radial flow pumpmarket covered in this report is segmented -
1) By Pump Type: Single-Stage, Multi-Stage, End-Suction, Vertical, Horizontal
2) By Material: Cast Iron, Stainless Steel, Duplex Stainless Steel, Alloy 20, Bronze
3) By Capacity: Low Capacity, Medium Capacity, High Capacity
4) By Configuration: Single Stage, Multi-Stage
5) By End-Use: Agriculture, Construction And Building Services, Water And Wastewater, Power Generation, Oil And Gas, Chemicals, Other End Uses
Subsegments:
1) By Single-Stage: Close-Coupled, Frame-Mounted, Axially Split
2) By Multi-Stage: Radially Split, Barrel Casing, Ring Section
3) By End-Suction: Back Pull-Out, Close-Coupled, Inline
4) By Vertical: Line Shaft, Submersible, Can-Type
5) By Horizontal: Axially Split, Radially Split, Between Bearings
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Who Are the Key Players Shaping the Radial Flow Pump Market's Competitive Landscape?
Major companies operating in the radial flow pump market are ANDRITZ AG, Star Pump Alliance GmbH, EBARA Corporation, Sulzer Ltd., ITT Inc., KSB SE & Co. KGaA, Wilo SE, Franklin Electric Co. Inc., John Crane (A Smiths Group Company), ITT Goulds Pumps (A Division of ITT Inc.), SPP Pumps Limited, Singla Motors Pvt. Ltd., Mahendra Pumps Pvt. Ltd., Kirk Pumps (Potentially Kirk Process Solutions Ltd.), Titanium Tantalum Products Limited, HiFuni Pumps Pvt. Ltd., C.R.I. Pumps Private Limited, Pumps and Systems Inc., Laxmi Pumps Private Limited, UNNATI MECH PRIVATE LIMITED, Silver Pumps & Motors, Flowserve Corporation, Xylem Inc., Malhar Pump Industrie, Softech Hydraulic & Pneumatic Systems.
What Geographic Markets Are Powering Growth in the Radial Flow Pump Market?
Asia-Pacific was the largest region in the radial flow pump market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the radial flow pump market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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