Centrifugal Pump Market Size and Share Analysis by Operation Type (Electrical, Hydraulic, Pneumatic), Stage (Single Stage, Multistage), End User (Residential, Commercial, Industrial) - Global Industry Trends and Growth Forecast to 2030

Market Overview

The global centrifugal pump market size stood at $33.20 billion in 2021, which is expected to reach $55.14 billion by 2030, advancing at a CAGR of 5.8% during 2021–2030. This is primarily due to the surge in the investments in the construction sector, swift urbanization, and rise in the requirement for wastewater management in developed countries.

In addition, the increasing consumer demand for these devices for their homes and various initiatives taken by government bodies, such as stimulating funds and making novel policies for the industrial sector, are augmenting the domain growth. Furthermore, the adoption of the industrial internet of things and digitalization is expected to offer lucrative opportunities for domain expansion.

Additionally, around half the population in the world is set to live in water-stressed regions by the end of 2026, which will drive the demand for water and wastewater treatment setups and, in turn, for these machines. The endorsement of modular designs in these plants leads to a reduction in initial investments, thus converting them into economically viable solutions.

Moreover, APAC countries are witnessing rampant urbanization, high infrastructure investment, and growing disposable income, which offers opportunities for the market outlook. The growing urbanization rate has increased the awareness among consumers about the importance of clean water for the maintenance of a healthy lifestyle, thus providing a greater opportunity to the leading players offering these systems.

The increasing focus on plant modernization in various verticals, such as pharmaceuticals, municipal, and food & beverages, is also expected to boost the domain size in the upcoming period. The requirement for clean water at ample pressure for various operations in these industries is a significant reason for the demand for these systems. In addition, the growth in the sale of machines is due to the advance of the chemical industry due to the rising focus on the adoption of advanced technologies and low cost of these devices.

Electrical Category To Witness Fastest Growth

The electrical category accounted for the largest revenue share, in 2021, and it is expected to witness the fastest growth in the forecast period. This is because of the smooth handling of both liquids and solids by these systems, to boost the production capacity across various sectors, such as domestic, agriculture, and industrial. In addition, electrical systems are mainly employed in the oil & gas industry to increase the fluid flow from wells, when a reservoir lacks sufficient energy to produce at economical rates. Essentially, the growth in the demand for electrical variants is owing to their high efficacy and reliability.

Single Stage Category Leads Market

The single stage category accounted for the larger revenue share in 2021. This is credited to the extensive usage of single-stage centrifugal pumps in slurry pumping, industrial pumping, and sewage pumping. Additionally, they are the most-common type of centrifugal pumps, and they are appropriate for applications with low-to-moderate dynamic heads. Furthermore, these systems are widely employed in water pumping stations due to their low maintenance costs and high reliability.

The multistage category is expected to undergo the faster increase in the centrifugal pump market size in the upcoming period owing to the easy installation, high energy efficiency, optimized operation, and lower internal friction losses of these variants.

Centrifugal Pumps Are Mainly Used in Industrial Sector

The industrial sector held the largest revenue share, of more than 40%, in 2021, propelled by the high use of such machines in dewatering activities in oilfields, construction sites, sewage, water treatment plants, and manufacturing plants. Additionally, the sector is expected to register the highest CAGR in the upcoming period, driven by its growth in the APAC region, which is rapidly becoming the epicenter of global economic growth, in respect to both production and consumption. Centrifugal pumps are indispensably required in sewage treatment plants, as well as for the removal of sludge and slurry from mines.

The commercial sector is also expected to hold a significant market share in the upcoming period, driven by the increase in the deployment of these systems at firefighting stations, drainage systems, swimming pools, sprinklers, and fountains and for sewage, water supply, drainage, and heating, ventilation, and air conditioning applications.

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APAC Is Market Leader

APAC accounted for the largest market size in 2021, and it is expected to register the highest CAGR in the upcoming period. This is primarily ascribed to the swift economic development in Japan, China, India, and South Korea. In addition, these countries are offering lucrative opportunities to companies for the establishment of their manufacturing facilities, owing to the accessibility of labor and raw materials at affordable rates.

Furthermore, there is an expansion in the industrial sector in the region owing to the lower manufacturing costs, exponential increase in R&D activities, and strong support from government bodies. As per the International Monetary Fund, India and China are the fastest-growing economies in the world, due to the increase in industrial activity, thereby resulting in a high demand for centrifugal pumps at wastewater treatment and manufacturing plants. Additionally, the surge in the energy demand and the various policies implemented by government organizations for energy efficiency are intensifying regional industry growth, as these machines consume less electricity than other variants.

Europe held the second-largest centrifugal pump market share in 2021, on account of the substantial investments in the oil & gas sector, developments in the construction industry, and surging use of water in mining operations. For example, the Brenner Base Tunnel, a 55-kilometer-extended German–Austrian railway line in the Eastern Alps, is currently under construction and is expected to be completed in 2028.

Further, the European population is shifting from rural pockets to urban areas; hence, governments are refining infrastructure, as the rapidly growing urban population is raising the burden on the existing drinking water and utility water infrastructure.

In addition, the presence of key players in the region, who are actively participating in the launch of advanced centrifugal pumps, is driving regional sales growth. Furthermore, due to the adoption of modern cultivation techniques, such as vertical farming and hydroponics, in the agriculture sector, the demand for centrifugal pumps is soaring in the region.

In the European region, Germany accounted for the largest market share in 2021, owing to the stringent laws on wastewater treatment, which even residential sewage treatment facilities must comply with. Additionally, the obligation to reduce the energy consumption will drive the requirement for energy-efficient systems in the country during the forecast period.

Additionally, the soaring popularity of these systems in the country is owing to their low costs, wide application areas, and high efficiency when pumping low-viscosity fluids, such as water. Further, the vast portfolio of centrifugal pumps gives end users the flexibility to choose as per their requirements.

Further, the depletion of the groundwater level is expected to create lucrative opportunities for domain growth in the region. For instance, meteorological drought began in Eastern Europe countries 2020 spring and moved across the continent, resulting in drier weather in April and May. The depleting water levels is, hence, expected to create a high demand for domestic water impellers that offer a high capacity and efficiency, to fulfill the daily water needs of households.

North America is set to hold a significant share, in 2030, driven by the escalating construction expenditure and surging oil & gas production targets.

Top Centrifugal Pump Manufacturers Are:

• Flowserve Corporation
• Ebara Corporation
• Sulzer Management Ltd.
• Grundfos Holding A/S
• Kirloskar Brothers Limited
• KSB SE & Co. KGaA
• Gardner Denver Inc.
• ITT Inc.
• Torishima Pump Mfg. Co. Ltd.
• The Weir Group PLC

Global Centrifugal Pump Market Size Breakdown by Segment

The study offers a comprehensive market segmentation analysis along with market estimation for the period 2017-2030.

Based on Operation Type

• Electrical
• Hydraulic
• Pneumatic

Based on Stage

• Single Stage
• Multistage

Based on End User

• Residential
• Commercial
• Industrial

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa