Centrifugal Pump Market

Centrifugal Pump Market Size, Share, Growth Analysis, By Flow(Axial Flow, Radial Flow, Mixed Flow), By Stage(Single-Stage, Multi-Stage), By End-User(Residential, Commercial, Agriculture, Industrial), By Regions(North America, Europe, Asia Pacific, Latin America) - Industry Forecast 2024-2031


Report ID: UCMIG20I2066 | Region: Global | Published Date: Upcoming |
Pages: 165 | Tables: 55 | Figures: 60

Centrifugal Pump Market Insights

Market Overview:

The global centrifugal pump market had a size of USD 29.24 billion in 2020 and is expected to grow from USD 30.56 billion in 2021 to USD 45.56 billion by 2028, with a CAGR of 5.9% during the forecast period from 2021-2028. The global COVID-19 pandemic had an unprecedented and significant impact on the demand for centrifugal pumps across all regions, resulting in negative demand. Based on our analysis, the market experienced a lower growth rate of about -5.3% in 2020 compared to the average year-on-year growth during 2017-2019. The sudden decline in CAGR is attributed to the expected return of demand and growth to pre-pandemic levels once the pandemic subsides.

Centrifugal Pump Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.

Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.

The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Industrial Machinery by segment aggregation, the contribution of the Industrial Machinery in Capital Goods and vendor share.

To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.

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FAQs

The market for Centrifugal Pump was estimated to be valued at US$ XX Mn in 2021.

The Centrifugal Pump Market is estimated to grow at a CAGR of XX% by 2028.

The Centrifugal Pump Market is segmented on the basis of Flow, Stage, End-User, Regions.

Based on region, the Centrifugal Pump Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

The key players operating in the Centrifugal Pump Market are GRUNDFOS (Denmark), KSB Company (Germany), Wilo Group (Germany), Flowrox (Finland), Sulzer (Switzerland), Xylem (U.S.), Dover Corporation (U.S.), The Weir Group PLC (Scotland), Ebara Corporation (Japan), ITT Corporation. (U.S.), Flowserve Corporation (U.S.), Kirloskar Brothers Limited (India).

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Centrifugal Pump Market

Report ID: UCMIG20I2066

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