According to a new report, published by KBV research, The Global Centrifugal Pump Market size is expected to reach $55.2 billion by 2030, rising at a market growth of 5.5% CAGR during the forecast period.
The Multi Stage segment is showcasing a CAGR of 6.2% during (2023 - 2030). Due to their great energy efficiency, simplicity of installation, minimal internal friction losses, and optimum operation & control, among other qualities, multistage centrifugal pumps are expected to have a sizable market share. Depending on the budget, application, and volume, multistage centrifugal pumps come in various sizes. Heating plants, water supply pipelines, irrigation, agriculture, autoclaves, firefighting operations, boiler feed, hydrocarbons, as well as the handling of mildly contaminated liquids could all be served by a smaller pump.
The Overhung Impeller segment is leading the Global Centrifugal Pump Market by Type in 2022 thereby, achieving a market value of $22.7 billion by 2030. The impellers are installed on the cantilevered shaft tip or overhung from its bearing support in an overhung impeller. The close-coupled overhung impeller pumps have the impeller positioned directly on the driving shaft, or they are independently coupled, where the overhung impeller is positioned on a separate shaft supported by bearings.
The Hydraulic segment has shown the growth rate of 5.7% during (2023 - 2030). A plunger that reciprocates applies pressure to the hydraulic fluid. With this diaphragm pump, the flow can be adjusted by changing the pump's speed or the volume of bypassed hydraulic fluid. Hydraulic centrifugal pumps are designed to achieve high levels of efficiency in converting mechanical power into hydraulic energy. They use centrifugal force to move fluid, allowing for efficient operation and minimal energy wastage. This efficiency leads to cost savings in terms of energy consumption.
The Industrial segment is generating the highest revenue share in the Global Centrifugal Pump Market by End User in 2022 thereby, achieving a market value of $41 billion by 2030. Along with dewatering tasks on building sites, centrifugal pumps are utilized in manufacturing facilities, mines to remove sand, sludge, and slurry, oilfield production, and water and sewage treatment facilities. The rapid industrialization taking in many regions is accountable for the growth of the segment.
The Asia Pacific market dominated the Global Centrifugal Pump Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $20.6 billion by 2030. The Europe market is poised to grow at a CAGR of 5.1% during (2023 - 2030). Additionally, The North America market would witness a CAGR of 4.9% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/centrifugal-pump-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Flowserve Corporation, KSB SE & Co. KGaA, Xylem, Inc., Ebara Corporation, Baker Hughes Company, Kirloskar Brothers Limited (Kirloskar Group), The Weir Group PLC, Pentair PLC, Schlumberger N.V. and Alfa Laval AB.
By Stage
By Type
By Operation Type
By End User
By Geography
Companies Profiled
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