Centrifugal pump refers to rotodynamic pump that uses a rotating impeller to increase the pressure and flow rate of fluid. Centrifugal pumps are most commonly used to move fluid through a piping system. These pumps consist of two basic components, rotary element or impeller, and stationary element or casing. Centrifugal pumps are widely used in wells, buildings, hot water circulation systems and fire protection systems in various industries.
The increasing urbanization, infrastructure investment and growing disposable income of people in Asian countries act as opportunities for the centrifugal water pump market. The growing urbanization has increased awareness levels among consumers about the importance of clean water to help maintain a healthy lifestyle; thus, providing greater opportunity to the leading players of the centrifugal water pump market. In Twelfth Five Year Plan, the Indian government announced an investment of $1 trillion in the infrastructure sector. This is expected to drive the demand for centrifugal water pumps in key end-use sectors in the country.
The global centrifugal water pump market was valued at $26,649.2 million in 2015, and it is expected to grow at a CAGR of 4.5% during 2016-2022. The growing construction industry, increasing disposable income, growing water scarcity, rapid industrialization in developing economies, and increasing level of urbanization are driving the growth of the centrifugal water pump market.
Among the various applications, the municipal water and wastewater segment held the largest share in the global market in 2015, and it is anticipated to retain its dominance during the forecast period.
Asia-Pacific accounted for the largest share (43.3%) in the global centrifugal water pump market, and it is also anticipated to grow at CAGR 5.0% during 2016 - 2022. This is mainly due to the increasing urban population and industrialization in the emerging markets of China and India. Currently, the developing economies, such as India and China are witnessing rapid industrialization and China is the world’s largest industrial producer. According to data published by the United Nations, China’s total industrial production was only 62% of that of the U.S. in 2007, which increased to 120% by 2011. According to the Central Intelligence Agency’s (CIA) World Factbook, China’s industrial production value was $3.7 trillion, compared to $2.9 trillion for the U.S. in 2012. Europe is expected to witness marginal growth in the global centrifugal water pump market in the near future.
Some of the major players operating in the global centrifugal water pump market include Flowserve Corporation, Ebara Corporation, Sulzer Ltd., Grundfos Holding A/S, Kirloskar Brothers Limited, KSB Aktiengesellschaft, Gardner Denver Inc., ITT Corporation, Torishima Pump Mfg. Co., and The Weir Group PLC.
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