The $58.94 Billion Surge: Why the Centrifugal Pump Market Is One of Industry's Most Overlooked Powerhouses

Every drop of water treated, every barrel of oil moved, every pharmaceutical ingredient transferred — a centrifugal pump made it happen. And the world is about to need a lot more of them.

The global centrifugal pump market, already valued at USD 41.33 billion in 2024, is on a definitive upward trajectory — projected to reach USD 58.94 billion by 2030, growing at a CAGR of 6.4%, according to a comprehensive new report by MarketsandMarkets. Behind that headline number lies a convergence of forces — rising water stress, industrial expansion, and a quiet technology revolution — that is reshaping demand for one of engineering's oldest workhorses.

For industry professionals, procurement teams, and strategic investors, this isn't background noise. It's a signal worth acting on.

What's Driving the Momentum?

Growth in the centrifugal pump market is not happening in isolation. Three powerful macro forces are fueling demand simultaneously.

Industrialization and urbanization continue to accelerate across emerging economies, bringing new manufacturing facilities, power plants, and chemical processing units — all of which depend on centrifugal pumps for fluid handling.

Agriculture is emerging as a particularly strong demand engine. As global populations grow — with Sub-Saharan Africa and South Asia leading expansion — governments in developing nations are subsidizing irrigation upgrades, and centrifugal pumps sit at the center of those systems. Solar-powered centrifugal pumps, which operate independently of grid infrastructure, are gaining rapid traction in regions where reliable electricity access remains limited.

Wastewater treatment is the third accelerant. With the United Nations reporting that over 80% of global wastewater is discharged without treatment, regulatory pressure and environmental mandates are pushing major investments in treatment infrastructure — creating durable, non-cyclical demand for centrifugal pumps worldwide.

Technology Is Quietly Transforming the Sector

While the physical application of centrifugal pumps may appear unchanged, the technology powering them is undergoing a significant shift. IoT-driven pump systems, digital twin integration, and machine learning are enabling predictive maintenance and energy optimization — capabilities that reduce downtime and operating costs for industrial buyers.

These advances are particularly critical as energy efficiency becomes a procurement priority. Smarter pumps are no longer a premium add-on; they are becoming a baseline expectation in sectors like oil and gas, pharmaceuticals, and power generation.

Where the Fastest Growth Is Happening

Asia Pacific stands out as the region to watch. Driven by industrial development, expanding agricultural needs, and rapid infrastructure build-out across China, India, and Southeast Asia, the region is projected to record the highest CAGR in the global centrifugal pump market through 2028. North America follows closely, supported by modernization of water supply systems and ongoing activity in the oil and gas sector.

The pharmaceuticals segment within industrial end users is another notable growth pocket. As global drug production scales to meet population health demands, centrifugal pumps that handle aggressive and corrosive materials are seeing rising specification rates.

The Competitive Landscape: Giants and Challengers

The market is anchored by global leaders — Grundfos Holding A/S (Denmark), Xylem Inc. (US), Flowserve Corporation (US), KSB (Germany), and Sulzer (Switzerland) — who compete through product launches, acquisitions, and technology partnerships. Recent moves include Grundfos acquiring Water Works Inc. to strengthen its life science water solutions platform, and Xylem entering an agreement to acquire Evoqua for expanded water treatment capabilities.

Yet established players face a persistent challenge: intense competition from unorganized and local market players who undercut on price with alternative supply networks that are difficult for global firms to replicate.

To know about the assumptions considered for the study, download the pdf brochure

What Industry Professionals Need to Know Now

The centrifugal pump market is not a sleepy commodity segment. It sits at the intersection of global water security, industrial output, energy transition, and pharmaceutical production — all of which are on growth trajectories.

For procurement leaders, the implication is clear: supply chain strategy and vendor selection in this category deserves more scrutiny. For investors and business developers, the data points to sustained, multi-year demand with identifiable regional hotspots.

The deeper story — including full segment forecasts, competitive benchmarking, regional breakdowns, and company deep dives — is available in the MarketsandMarkets Centrifugal Pump Market Report. For those looking to position ahead of the next wave of industrial investment, the forecast through 2030 is required reading.