A recent report published by Infinium Global Research on centrifugal pump market provides in-depth analysis of segments and sub-segments in global as well as regional centrifugal pump market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional centrifugal pump market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global centrifugal pump market. According to the report, the global centrifugal pump market is projected to grow at a CAGR of 4.9% over the forecast period of 2018-2024.
Pumps are generally grouped into two broad categories-positive displacement pumps and dynamic (centrifugal) pumps. Centrifugal pumps impart momentum to the fluid by rotating impellers that are immersed in the fluid. The momentum produces an increase in pressure or flow at the pump outlet. The biggest advantage of centrifugal pumps is its aforementioned simplicity. They don’t require any valves or many moving parts. This makes it easy to produce with many different materials. It also allows them to move at high speeds with minimal maintenance. Centrifugal pumps are used for sewage, petroleum, and chemicals. It can be also used for most household or light industrial uses.
Key factors responsible for driving the centrifugal pump market includes the use of centrifugal pumps in the wastewater treatment plant. With the increasing number of wastewater treatment plants to overcome the pervasive storage of water, the demand for the centrifugal pump would increase. In addition, rapid urbanization across the globe would also augment the market growth. However, the Centrifugal pumps market is expected to face certain challenges owing to stagnancy in the oil and gas industries. Market players are focusing on the development of energy efficient pumps because of increasing energy costs and growing environmental awareness among end-users.
Among the Geographies, Asia-Pacific has the highest market share in 2017 and is expected to increase its dominance over the forecast period. A large number of Chinese players in the market manufacturing low priced centrifugal products are responsible for driving growth in this region. Moreover, the growth in various end-use industries such as Manufacturing, Industrial, Chemicals, Pharmaceutical, Food Production, waste management, and agriculture in Asia- Pacific region too would augment the market growth. North America and Europe to grow at a steady growth rate throughout the forecast period.
The report on global centrifugal pump market covers segments such as product type and end-user. On the basis of product type, the global centrifugal pump market is categorized into a single stage pump, multi stage pump, axial & mixed flow pumps, submersible pumps, and seal-less & circulator pump. On the basis of end-user, the global centrifugal pump market is categorized into industrial, agricultural and domestic.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global centrifugal pump market such as Flowserve Corporation, KSB AG, Sulzer AG, Ebara Corporation, Grundfos Holding A/S, Xylem Inc, ITT Inc., The Weir Group PLC, Wilo SE, and Tsurumi Manufacturing Co., Ltd.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global centrifugal pump market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of centrifugal pump market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the centrifugal pump market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the centrifugal pump market to understand the present and future trends in this market and formulate their strategies accordingly.