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 factors driving the growth of the global market include increasing level of urbanization, rapid industrialization in developing economies, growing water scarcity, and growing construction industry and increasing disposable income.
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The growing construction of residential and non-residential buildings is driving the demand for centrifugal water pumps. With the increase in infrastructure investment, the demand for centrifugal water pumps will increase. The increasing disposable income of people across the globe has enhanced their living standards with increased spending on houses, thus contributing to the increased demand for centrifugal water pumps.
Among the various end-users, the municipal water and wastewater segment held the largest share in the global centrifugal water pump market in 2015. The rapid growth of urban population is creating pressure on the existing water infrastructure, which includes delivery of utility water and removal and treatment of wastewater. To meet this growing demand, various governments in Asia and Africa are expected to increase their spending on irrigation and drinking water schemes.
In 2015, Asia-Pacific dominated the global centrifugal water pump market, accounting for approximately 43.3% share, which is expected to become 44.8% by 2022. The increasing level of urbanization, rapid industrialization and increasing disposable income are some of the major growth driving factors in the Asia-Pacific centrifugal water pump market, particularly in countries, such as India and China. China was the largest market for centrifugal water pumps in the region in 2015; however, India is expected to witness the highest growth during the forecast period. Moreover, economic growth along with industrialization has increased the demand for centrifugal water pumps. The major companies operating in the Asia-Pacific centrifugal water pump market include Torishima Pump Mfg. Co. Ltd., Kirloskar Brothers Limited, and Ebara Corporation.
The information and data in the publication “Global Centrifugal Water Pump Market Size, Share, Development, Growth and Demand Forecast to 2022”, represents the research and analysis of data from various primary and secondary sources. Bottom-up and top-down approach has been used to calculate the market size. P&S Market Research analysts and consultants interacted with leading companies of the concerned domain to substantiate every value of data presented in the report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
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.
GLOBAL CENTRIFUGAL WATER PUMP MARKET SEGMENTATION
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