Global Centrifugal Pump Market : Key Players, Growth, Analysis 2018 to 2024
The Infinium Global Research analyzes the Centrifugal Pump Market over the period of 2018 to 2024. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global centrifugal pump market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of centrifugal pump. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the centrifugal pump market during the period. The global centrifugal pump market is projected to grow at a CAGR of 4.9% over the forecast period of 2018-2024.
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Use of Centrifugal Pumps in the Wastewater Treatment Plant is the Key Factor Responsible for Driving the Centrifugal Pump Market
Pumps are generally grouped into two broad categories-positive displacement pumps and dynamic (centrifugal) pumps. Centrifugal pumps impart momentum to the fluid by rotating impellers that are immersed in the fluid. The momentum produces an increase in pressure or flow at the pump outlet. The biggest advantage of centrifugal pumps is its aforementioned simplicity. They don’t require any valves or many moving parts. This makes it easy to produce with many different materials. It also allows them to move at high speeds with minimal maintenance. Centrifugal pumps are used for sewage, petroleum, and chemicals. It can be also used for most household or light industrial uses.
With the increasing number of wastewater treatment plants to overcome the pervasive storage of water, the demand for the centrifugal pump would increase. In addition, rapid urbanization across the globe would also augment the market growth. However, the Centrifugal pumps market is expected to face certain challenges owing to stagnancy in the oil and gas industries. Market players are focusing on the development of energy efficient pumps because of increasing energy costs and growing environmental awareness among end-users.
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Asia-Pacific Has the Highest Market Share in Centrifugal Pump Market
Among the Geographies, Asia-Pacific has the highest market share in 2017 and is expected to increase its dominance over the forecast period. A large number of Chinese players in the market manufacturing low priced centrifugal products are responsible for driving growth in this region. Moreover, the growth in various end-use industries such as Manufacturing, Industrial, Chemicals, Pharmaceutical, Food Production, waste management, and agriculture in Asia- Pacific region too would augment the market growth. North America and Europe to grow at a steady growth rate throughout the forecast period.
Centrifugal Pump Market: Segment Covered
The report on global centrifugal pump market covers segments such as product type and end-user. On the basis of product type, the global centrifugal pump market is categorized into a single stage pump, multi-stage pump, axial & mixed flow pumps, submersible pumps, and seal-less & circulator pump. On the basis of end-user, the global centrifugal pump market is categorized into industrial, agricultural and domestic.
Centrifugal Pump Market: Competitive Landscape
The report provides profiles of the companies in the global centrifugal pump market such as Flowserve Corporation, KSB AG, Sulzer AG, Ebara Corporation, Grundfos Holding A/S, Xylem Inc, ITT Inc., The Weir Group PLC, Wilo SE, and Tsurumi Manufacturing Co., Ltd.
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