Centrifugal Pump Industry 2023-2030: Exploring New Market Opportunities
Centrifugal Pump Industry | Forecast 2030
Centrifugal Pump Industry Data Book - Radial Flow Pump, Mixed Flow Pump and Axial Flow Pump Market
The economic value generated by the centrifugal pump industry was estimated at approximately USD 37.5 billion in 2022. The rising residential and commercial infrastructure, coupled with the expansion of the manufacturing industry globally, is expected to drive the demand for centrifugal pumps globally.
Access the Global Centrifugal Pump Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Centrifugal Pump Industry Data Book Coverage Snapshot
Markets Covered
- Centrifugal Pump Industry USD 37.5 billion in 2022
- Radial Flow Pumps Market Size USD 24.4 billion in 2022 3.6% CAGR (2023-2030)
- Mixed Flow Pumps Market Size USD 9.1 billion in 2022 4.7% CAGR (2023-2030)
- Axial Flow Pumps Market Size USD 4.0 billion in 2022 3.1% CAGR (2023-2030)
Radial Flow Pump Market Growth & Trends
The global radial flow pump market size is anticipated to reach USD 32.2 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 3.6% from 2023 to 2030. One of the primary driving factors is the need for high-pressure fluid handling in industries such as oil and gas, water treatment, chemical processing, and power generation. Radial flow pumps are capable of generating significant pressure differentials, making them suitable for applications that require substantial pressure increases.
Radial flow pumps are utilized in construction projects for dewatering excavations, foundation work, tunneling, and managing water levels in construction sites. As infrastructure development continues, the need for effective fluid-handling solutions remains high, thus fueling the adoption of radial flow pumps over the forecast period. In addition, these pumps help transport and control water for various applications such as agriculture, and construction, among others. The demand for efficient water management solutions in municipal water supply, wastewater treatment, irrigation, and desalination drives the use of radial flow pumps.
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Axial Flow Pump Market Growth & Trends
The global axial flow pump market size is anticipated to reach USD 5,109.1 million by 2030, registering a CAGR of 3.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. The global market has been growing due to increased energy consumption and exploratory activities. In addition, factors, such as favorable government policies and increasing demand for energy-efficient axial flow pump solutions, are anticipated to drive the overall market demand. Axial flow pumps are extensively used in the various stages of wastewater treatment, including aeration tanks, mixing tanks, and others, to facilitate proper mixing and aeration for an effective treatment process.
The efficient and high-capacity features of axial flow pumps make them well-suited for applications where large volumes of water or wastewater need to be moved, mixed, or treated. They play a significant role in ensuring the effective management of water resources and maintaining the proper functioning of wastewater treatment. Increasing awareness about environmental pollution, stringent regulations on waste and wastewater management, and growing demand for sustainable and efficient wastewater treatment solutions are expected to drive the market demand. Significant axial flow pump application is seen in irrigation systems, flood control systems, and sewage water treatment facilities. Axial flow pumps are also widely used in agriculture to remove surplus or unwanted water from fields as well as to pump water from water reservoirs to fields.
Go through the table of content of Centrifugal Pump Industry Data Book to get a better understanding of the Coverage & Scope of the study
Mixed Flow Pumps Market Growth and Trends
The mixed flow pumps are known for their unique hybrid design that combines elements of both centrifugal and axial flow pumps and has garnered significant attention in recent years due to their versatility and efficiency in handling various fluid types. A notable trend in the mixed flow pumps market is the increasing demand for these pumps across a wide range of industries such as agriculture, irrigation, flood control, and wastewater management, offering a balanced solution between the high flow rates of axial flow pumps and the pressure capabilities of centrifugal pump. This adaptability to diverse fluid viscosities and conditions has contributed to the widespread adoption of mixed flow pumps.
Competitive Insights
The competitive landscape of the centrifugal pump market is characterized by a mix of established global players and regional manufacturers. Several multinational companies dominate the global centrifugal pump industry. Some of the leading players include Grundfos; ITT Goulds Pumps; Xylem Inc.; Sulzer Ltd.; Flowserve Corporation; and KSB SE & Co. KGaA. These companies have a strong global presence, extensive product portfolios, and a well-established customer base. Companies continuously invest in research and development to innovate their product offerings. This includes developing more energy-efficient pumps, incorporating advanced materials, and integrating smart technologies for remote monitoring and predictive maintenance. Strategies adopted by the companies usually include product portfolio expansion, product development, and distribution network expansion.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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