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The centrifugal pump market is projected to grow from an estimated USD 36.6 billion in 2021 to USD 48.8 billion by 2026, at a CAGR of 5.9%, from 2021 to 2026

ReportLinker
·3-min read

Increasing investments in modernizing water and wastewater infrastructure, infrastructure development, and power generation in emerging economies and the growth of industries such as chemicals and manufacturing is driving the market for centrifugal pumps across the world.

New York, March 17, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Centrifugal Pump Market by Type, Operation Type, Stage, End-User, Region- Global Forecast to 2026" - https://www.reportlinker.com/p05333367/?utm_source=GNW


The industrial segment is expected to hold the largest share of the centrifugal pump market, by end-user, during the forecast period.
The industrial segment of the global centrifugal pump market is expected to grow at a fast pace during the forecast period.This can be attributed to rapid growth in industrialization and urbanization across the world.

Use of centrifugal pumps in industries such as water and wastewater, oil & gas, process industries, chemicals, and mining is increasing due to their high efficiency, wide capacity range, flow rate, and ease of operation and maintenance.

Asia Pacific: The largest market for centrifugal pumps.

Asia Pacific is the largest market for centrifugal pumps, followed by Europe and North America.While China will continue to drive demand, growing industrial demand and increasing investments in infrastructure development in emerging economies such as India, Thailand, and Malaysia are expected to boost the demand for centrifugal pumps.

Furthermore, rising standards of living and growing urbanization, along with the rising demand for proper sanitation are driving the centrifugal pump market in Asia Pacific.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
• By Company Type: Tier 1- 59%, Tier 2- 26%, Tier 3- 15%
• By Designation: C-Level- 62%, D-Level- 20%, Others- 18%

By Region: North America- 20%, Europe- 25%, Asia Pacific- 30%, South America- 12%, Middle East- 8%, and Africa- 5%
Note: The tier of the companies has been defined on the basis of their total revenue; as of 2016: Tier 1 = >USD 5 billion, Tier 2 = USD 1 billion to USD 5 billion, and Tier 3 =
The leading players in the centrifugal pump market are Grundfos (Denmark), KSB (Switzerland), Flowserve (US), Sulzer (Switzerland), and Xylem (US)

Study Coverage:
The report defines, describes, and forecasts the centrifugal pump market, by type, operation type, stage, end user, and region.It also offers a detailed qualitative and quantitative analysis of the market.

The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market, which include the analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the centrifugal pump market.

Key Benefits of Buying the Report
1. The report identifies and addresses the key markets for centrifugal pumps application, which would help equipment manufacturers and raw material providers review the growth in demand.
2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions.
Read the full report: https://www.reportlinker.com/p05333367/?utm_source=GNW

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