Hot Water Circulator Pump Market Set To Rise in the Period from 2016-2023

Market Research Future published a research report on “Hot Water Circulator Pump Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Global Hot Water Circulator Pump Market Information by Type (Reclosable Packaging, Non-reclosable Packaging, Special Blister Packaging), By End-Use (Personal Care, Chemicals, Pharmaceuticals) and By Region – Forecast to 2023

Market Scenario

Hot water circulating pumps are basically a category of circulating pumps, which ensure immediate availability of hot water from the taps, faucets, or exhaust systems. These pumps impel hot water through the pipes, at a steady pace, and back to the water heater through a dedicated line or through a cold water line. The hot water circulating pumps market is mainly gaining traction, globally due to their ability to save water. Rapidly growing usage in commercial and residential applications coupled with the continued employment in industries, is expected to positively impact the hot water circulating system market.

The global hot water circulating pump market was valued at USD 19,014.0 million in 2016, which is expected to reach USD 22,083.3 million by 2021 with the CAGR of 3.14%. Moreover, in terms of volume, in 2016, the global consumption of hot water circulator pump was 37.80 million units, which is expected to reach 42.07 million units by 2021, with the CAGR of 2.26%.

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The global market has seen a rising demand for hot water circulating pump owing to its growing demand from its application sectors such as residential, commercial and industrial. The demand for residential purpose has been the major driving factor. Moreover, the rising preference for hot water in cold countries, have fueled the demand for hot water circulating pumps. On the other hand, the high prices of circulating pump, higher maintenance and installation cost, have been the major restraining factors for the global hot water circulator pump market.
For this study, the global hot water circulator pump market has been segmented on the basis of type and application. On the basis of type, the market has been segmented as single-stage pump and multistage pumps. Single-stage pumps account for the higher market share, followed by multi-stage pumps. The growing preferences of single stage pump for residential purpose has been the major reason behind this massive growth. Moreover, the lower maintenance cost than multi-stage pumps have also been a reason for market growth.

On the basis of applications, the market has been segmented as residential, commercial and industrial. Among these applications, residential has accounted the highest market share, followed by commercial and industrial. The increasing demand for hot water circulating pump for residential purpose, has been the fuelling the demand.

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Geographically, the global hot water circulating pump market has been segmented as U.S., Europe, China, Japan and Rest of the World. Among these regions, Europe has become the major revenue generator in the global market, followed by USA and China. Europe has accounted for the market share of 28.5%, in terms of revenue. Countries such as Germany, France, the U.K., and the Netherlands are the leading countries, which have boosted the market for Europe hot water circulating pump. U.S. is the second leading region in terms of value and volume. China has been a major manufacturer of hot water circulator pumps. Presence of large number domestic players in China, have created a significant scope for the global market.

The major players operating in global hot water circulating pump market, who have adopted the strategies such as geographic expansion, mergers, and acquisitions are Xylem Inc (US), Grundfos (Denmark), Flowserve Corporation (US), Armstrong Fluid Technology Limited (Canada), Calpeda S.p.A (Italy), BacoEngineering.com (UK), Taco (US), AUMA Riester GmbH & Co. KG (Germany), Emile Egger & Cie SA (Switzerland) and Saer Elettropompe SpA (Italy).

The report for Global Hot Water Circulating Pump Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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