The report "Centrifugal Pump Market by Type (Overhung Impeller, Vertically Suspended, Between Bearing), Operation Type (Electric, Hydraulic, Air Driven), Stage (Single Stage, Multistage), End-User (Industrial, Commercial, Residential), Region - Global Forecast to 2026"The global centrifugal pump market is projected to reach a size of USD 48.8 billion by 2026, at a CAGR of 5.9%, from an estimated USD 36.6 billion in 2021. High demand for centrifugal pumps in the agricultural sector and increasing investments in the construction industry attributing to rapid urbanization are the key factors driving the growth of the centrifugal pumps market. Likewise, the up-gradation of aging and construction of new water & wastewater treatment facilities and adoption of solar-powered centrifugal pumps are expected to offer lucrative opportunities for the submersible pumps market during the forecast period.
Browse 305 market data Tables and 63 Figures spread through 302 Pages and in-depth TOC on "Centrifugal Pump Market by Type (Overhung Impeller, Vertically Suspended, Between Bearing), Operation Type (Electric, Hydraulic, Air Driven), Stage (Single Stage, Multistage), End-User (Industrial, Commercial, Residential), Region- Global Forecast to 2026"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/centrifugal-pump-market-17494785.html
By Stage, the single stage centrifugal pump market is expected to be the largest centrifugal pump market, in 2020.
The single stage pump segment is expected to be the largest segment of the centrifugal pump market, by stage, in 2026. These pumps are widely used in the industrial sector as they can handle large flow volumes of fluids. Increased investments in infrastructure and solar power plants and the growing household sector in developing countries are the key drivers of the single stage centrifugal pump market
By Type, the electrical segment is expected to dominate the centrifugal pump market, during the forecast period.
The electrical centrifugal pump segment held the largest market size as these pumps can handle both solids & liquids and are used across numerous sectors to boost production. Electrical centrifugal pumps are used in different sectors, such as industrial, agricultural, and domestic. For instance, in the oil & gas industry, electrical centrifugal pumps are used to increase the flow of fluids from wells when a reservoir does not have enough energy to produce at economical rates naturally and boost production to improve financial performance. The growth of this segment is due to its increasing demand attributed to high reliability and efficiency, and as it never has to be primed as it is already submerged in the fluid.
By end-user, the industrial segment is the largest contributor in the centrifugal pump market during the forecast period.
The industrial segment is estimated to lead the centrifugal pump market. Asia Pacific was the largest market for the industrial end-user segment in 2020. This is attributed to the increasing population and ongoing urbanization, especially in the emerging economies of Asia.
Asia Pacific is expected to be the largest and fastest-growing market during the forecast period.
In this report, the centrifugal pump market has been analyzed for six regions, namely, Asia Pacific, Europe, North America, South America, Middle East, and Africa. Asia Pacific region has been segmented, by country, into China, Japan, India, South Korea, Bangladesh, and Rest of Asia Pacific. Rest of Asia Pacific includes Thailand, Australia, and Singapore. The major applications for centrifugal pumps in the region include water & wastewater treatment, commercial & residential complexes, and the agricultural sector. Factors driving the adoption of centrifugal pumps in the agricultural sector in Asia Pacific include the growing demand for food, rising pressure to improve yields with limited available resources, and increasing requirement to protect crops from unexpected climatic changes. Furthermore, rapid industrialization and infrastructural developments in the region offer growth opportunities for the Asia Pacific centrifugal pump market.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the centrifugal pump market are Grundfos (Denmark), KSB (Switzerland), Flowserve (US), Sulzer (Switzerland), and Xylem (US).
Don’t miss out on business opportunities in Centrifugal Pump Market. Speak to our analyst and gain crucial industry insights that will help your business grow.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441