Centrifugal Pump Market CAGR Projected to Grow at 4.7% Through 2027
Posted: Oct 31, 2017
Future Market Insights delivers key insights and presents a revised forecast of the global centrifugal pump market in its latest report titled ‘Centrifugal Pump Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027’. The long-term outlook of the centrifugal pumps market remains positive with the market value on track to increase at a CAGR of 4.7% during the forecast period (2017–2027). Among Product type, the submersible pumps segment is likely to expand at a significant CAGR in terms of value over the forecast period. The water & wastewater segment is anticipated to hold a major share in terms of volume and value among the end use industrial segment owing to rising demand of water for domestic as well industrial use. Global sales of Centrifugal pump is estimated to be valued at US$ 33,579.6 Mn by the end of 2017, witnessing a growth of 4.7% over the forecast period. APEJ should account for a value share of 29.3% in the centrifugal pumps market by 2017 end and it could retain its dominance throughout the forecast period.
The centrifugal pumps market is primarily driven by an increasing investment in infrastructural development on account of rapid urbanization across the globe and an increasing number of wastewater treatment plant to overcome the pervasive shortage of water. However, the Centrifugal pumps market is expected to face certain challenges such as volatile oil and gas prices. Moreover, presence of a large number of Chinese players in the market with low-priced product could pose a challenge for market players in the centrifugal pumps market. Market players are focusing on development of energy efficient pumps because of increasing energy costs and growing environmental awareness among end users.
On the basis of product type, submersible pumps segment may witness robust growth in terms of value and volume over the forecast period. The segment is assessed to expand with a significant CAGR over the forecast period with a market share of 28.4% by the end of 2027
Single-stage and multi-stage pumps segments might exhibit moderate growth over the forecast period with a combined market share of 54.6% in terms of value.
Water and wastewater sub-segment is estimated to dominate the industrial centrifugal pumps market over the forecast period with a revenue share among industrial segment of 36.9% by the end of 2017
Agriculture segment is projected to hold 14.3% share in terms of revenue generation and the domestic segment 20.6% share in terms of value by the end of 2017
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Owing to increasing investment for infrastructural development and greater demand from agricultural sector, APEJ should dominate the global centrifugal pumps market throughout the assessment period with 29.3% market share by the end of 2017 and a CAGR of 5.4%. North America is predicted to grow steadily during the assessment period with increasing hydrogen fracturing activity in the region. MEA is anticipated to expand at a CAGR of 4.7% during the assessment period.
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The report highlights some of the top companies operating in the global centrifugal pumps 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, Tsurumi Manufacturing Co., Ltd., Kirloskar Brothers Ltd., DESMI A/S, WPIL Limited, HERMETIC-Pumpen GmbH, Shakti Pumps (India) Ltd., Klaus Union GmbH & Co. KG, Ruhrpumpen Group, HOMA Pumpenfabrik GmbH, CP Pumpen AG, Toyo Denki Industrial Co. Ltd., Speck Pumpen Walter Speck GmbH & Co. KG
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