Centrifugal Pump Market Analysis

Global Centrifugal Pump Market Overview:

Centrifugal Pump Market Size was valued at USD 41565.9 Million in 2023. The centrifugal pump market industry is projected to grow from USD 43561.06 Million in 2024 to USD 65594.45 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 4.7% during the forecast period (2024 - 2032). Growing urbanization and a strong emphasis on water and waste management are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Centrifugal Pump Market Trends

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  Rapid industrialization is driving the market's growth, and the wastewater treatment sector's expanding product demand is following.

  
  

Rapid industrialization, which is supported by increased product demand from the wastewater treatment industry, is one of the primary factors driving market expansion. The modular design of wastewater treatment facilities has also reduced the initial substantial expenditure, making them economically viable. As the capacity requirements of wastewater flow and treatment facilities increase, these systems may be simply expanded. 

The growing requirement to replace obsolete industrial pumps in the pharmaceutical and food and beverage industries is also driving market CAGR. As a result, the oil and gas industry has embraced a diverse range of products for conducting exploratory activities in offshore and deep-water regions around the world.

The growing population and rising water demand in various industries are expected to drive the building of new water treatment facilities around the world, allowing the water and wastewater industry to grow. As a result, the need for centrifugal pumps is expected to grow. Increased residential and commercial development projects will drive market expansion. 

These pumps help to resolve variable or low pressure concerns while also providing energy-efficient water transfer solutions and HVAC requirements in buildings. Centrifugal pumps are often utilized in wastewater treatment plants to process used water. These pumps use rotating impellers to increase impeller velocity and drive fluids through exit valves.

The growing number of wastewater treatment plants around the world predicts an increase in demand for centrifugal pumps. Various technological advancements, such as the development of 3D-printed impellers and the usage of modeling software, are also helping to growth. These enhancements contribute to improved pump performance, lower production costs, and higher flow rate and output pressure. 

Other factors, such as increased spending on desalination in industrial facilities and rising demand for energy-efficient centrifugal pumps, are likely to drive the centrifugal pump market revenue even further. The implosion and rapid rotation rate of these bubbles is one of the principal causes of corrosion in pump casings and impellers.

Centrifugal Pump Market Segment Insights

Centrifugal Pump Type Insights

The centrifugal pump market segmentation, based on type, includes overhung impeller, vertically suspended, between bearing and others. The data indicates that within the predicted period, leading markets off of vertically suspended segments are estimated. Such estimates are made possible by benefits like the utilization of 75% less floor space compared to a horizontal pump powered by electric motor drives.

Centrifugal Pump Stage Insights

The centrifugal pump market segmentation, based on stage, includes single, multistage, and others. During the forecast period, the single-stage segment is expected to be the largest contributor. A single-stage centrifugal pump contains only one impeller and is intended to be a low head or low flow centrifugal pump. It is most commonly used for sewage pumping, domestic, general industrial pumping, and slurry pumping and is suitable for use when the total dynamic head (TDH) is low-to-moderate. 

The dependability and low maintenance costs of single-stage pumps in applications with moderate dynamic heads, such as water pumping stations, which are among the most common applications for centrifugal pumps, are expected to increase demand for single-stage pumps globally.

Figure 2: Centrifugal Pump Market, by stage, 2022 & 2030 (USD billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Centrifugal Pump End User Insights

Based on End Users, the centrifugal pump market data has been segmented into Water & Wastewater, Oil & Gas, Chemical, Power, and others. During the forecast period, it is anticipated that the water & wastewater segment will contribute the most. Industries like oil and gas, water and wastewater, mining and metal, power generation, chemicals, pharmaceuticals, pulp and paper, agriculture, automotive, food and beverage, and textiles are all included in the industrial sector. 

Centrifugal pumps are used in manufacturing facilities, sand, sludge, and slurry removal in mines, oilfield production (artificial lift), water and sewage treatment plants, and dewatering activities on construction sites. In the next five years, the industrial sector is anticipated to account for the majority of demand for centrifugal pumps, particularly in Asia Pacific, which is quickly emerging as the hub of economic growth in terms of both production and consumption.

Centrifugal Pump Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America has the biggest market share for centrifugal pumps in 2022. In their region, industrial sectors have consumed a considerable amount of water, resulting in depletion of subterranean water reservoirs. Furthermore, individuals believe in reusing water.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: Centrifugal Pump Market Share By Region 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe centrifugal pump market accounts for the second-largest market share due to significant investments made in the oil and gas industry, advancements made in the construction sector, and an increase in the use of water in mining operations. 

For instance, work is currently being done on the 55-kilometer-long extension of the German-Austrian rail line known as the Brenner Base Tunnel, which is scheduled to be finished in 2028. Further, the Germany centrifugal pump market held the largest market share, and the UK centrifugal pump market was the fastest growing market in the European region

The Asia-Pacific Centrifugal Pump Market is expected to grow at the fastest CAGR from 2022 to 2030. Because of the lower cost of raw materials and labor, the region is attracting investors to develop manufacturing plants. Increased R&D spending is one of the factors propelling the Asia Pacific Centrifugal Pump Market. Moreover, China centrifugal pump market held the largest market share, and the India centrifugal pump market was the fastest growing market in the Asia-Pacific region

Centrifugal Pump Key Market Players & Competitive Insights

Major industry participants are investing a lot of money in R&D to expand their product portfolios, which will fuel further expansion of the centrifugal pump market. Participants in the market are also undertaking a variety of strategic initiatives to expand their footprint, with significant market developments including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. 

To grow and remain in a market that is becoming more competitive and growing, competitors in the centrifugal pump market must provide products that are affordable.

Making centrifugal pumps locally in order to cut operating costs is one of the main business tactics used by manufacturers in the centrifugal pump industry to benefit customers and grow the market sector. Some of the most important advantages for medicine recently have come from the centrifugal pump industry. 

Major players in the market for centrifugal pumps include Xylem (US), Grundfos (Denmark), Flowserve (US), KSB (Germany), Circor International (US), and Sulzer (Switzerland) and others are working to expand the market demand by investing in research and development activities.

IDEX Corporation is a publicly traded corporation situated in Northbrook, Illinois that develops, designs, and manufactures fluidics systems, optical systems, fire and rescue equipment, and other speciality engineered goods. In April 2021, IDEX Corporation reached a definitive agreement to buy Airtech Group Inc., US Valve Corporation, and affiliated assets from investment funds run by EagleTree Capital for a cash payment of USD 470 million. 

Airtech develops and designs a comprehensive range of engineered pressure technology, including centrifugal pumps, regenerative blowers, compressor systems, and valves.

Alfa Laval AB is a Swedish corporation founded in 1883 by Gustaf de Laval and Oscar Lamm. The company, which began by supplying centrifugal separation solutions for dairy (see Separator (milk)), today produces specialized equipment and solutions for heavy industry. The goods are used to heat, cool, segregate, and convey oil, water, chemicals, drinks, foodstuffs, starch, and medications. 

In September 2020, Alfa Laval AB was awarded a contract to supply two FPSO (Floating Production, Storage, and Offloading) vessels to Framo pumping systems. The orders are worth around SEK 130 million. The two orders include centrifugal pumping equipment for firefighting and seawater lift.

List of the Key Companies in the centrifugal pump market includes

• Grundfos (Denmark)


• Flowserve (US)


• KSB (Germany)


• Circor International (US)


• Sulzer (Switzerland)


• ITT Corporation (US)


• Wilo (Germany)


• Ebara Corporation (Japan)


• Pentair (US)


• Someflu (France)


• Baker Hughes A GE Company (US)


• Weir (UK)

Centrifugal Pump Industry Developments

In April 2021, Xylem Inc. joined forces with ESRI, the world authority on location intelligence. The two businesses will provide services to utilities everywhere. Together, these two businesses will develop solutions, market their products, and engage in collaborative selling.

November 2020, Ringkobing-Skjern Fosyning A/S (Danish Water Utility Firm) awarded Sulzer a contract to supply pumps for Denmark's significant flood defence project. For the purpose of reducing the escalating water levels caused by rain, drainage, and cloudburst water, the company built two new pumping stations. For the Ringkobing pumping station, the company will provide three VUPX peak load pumps in addition to one FB baseload pump.

In April 2020, To increase its market share in Asia, Pleuger increased its presence in Singapore.

February 2024

DESMI has introduced a new mag-drive centrifugal pump, adding a magnetic connection to its centrifugal pump lineup. The technique provides specific benefits for a methanol fuel system by combining the high efficiency and durable durability of centrifugal pumps without the requirement for a typical shaft seal solution in the pump.

DESMI mag-drive centrifugal pumps are safe and efficient, allowing ships to run leak-free methanol fuel systems, lowering carbon emissions and minimizing environmental impact. The maritime industry's pollution requirements tighten year after year. Shipowners that wish to continue in business must seek for methods to reduce carbon emissions in order to meet the objectives set by the IMO GHG Strategy and other laws.

Running on alternative fuels is one of the most efficient methods to reduce pollution. Methanol has numerous significant advantages as a transportation fuel, making it one of the most promising alternative fuels: When made from biomass, green hydrogen, or other zero-emission sources, it may neutralize well-to-wake carbon dioxide emissions. Furthermore, since methanol remains liquid at ambient temperature and atmospheric pressure, it does not need sophisticated high-pressure or low-temperature systems to operate.

However, methanol is poisonous and extremely combustible, necessitating safety precautions while choosing and establishing fuel infrastructure for ports and ships. To prevent dangerous circumstances, ensure that the fuel system is completely leak-free.

DESMI's new mag-drive centrifugal pumps are ideal for a methanol fuel system because they combine the excellent efficiency and rugged durability of centrifugal pumps with a magnetic connection that replaces the pump's standard shaft seal solution. The pump chamber is therefore entirely sealed, with almost little chance of methanol leakage.

While magnetic coupling is a novel feature on DESMI centrifugal pumps, the technology is not new to DESMI.

The DESMI mag-drive centrifugal pump is suitable for methanol fuel systems in new dual-fuel ships, but it may also be adapted to older boats. It is part of DESMI's full marine pump line, which includes a broad variety of applications.

Centrifugal Pump Market Segmentation

Centrifugal Pump Type Outlook

• Overhung Impeller


• Vertically Suspended


• Between Bearing

Centrifugal Pump Stage Outlook

• Single


• Multistage

Centrifugal Pump End User Outlook

• Water & Wastewater


• Oil & Gas


• Chemical


• Power

Centrifugal Pump Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America