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Global Hot Water Recirculation Pumps Strategic Markets Report 2023: Rapid Urbanization and Need for Convenience Spur Demand for Hot Water from Households, Presenting Growth Opportunities
Global Market for Hot Water Recirculation Pumps
Dublin, March 09, 2023 (GLOBE NEWSWIRE) -- The "Hot Water Recirculation Pumps: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Hot Water Recirculation Pumps Market to Reach $8.7 Billion by 2030
The global market for Hot Water Recirculation Pumps estimated at US$5.1 Billion in the year 2022, is projected to reach a revised size of US$8.7 Billion by 2030, growing at a CAGR of 7% over the analysis period 2022-2030.
Active Pumps, one of the segments analyzed in the report, is projected to record 7.2% CAGR and reach US$5.3 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Passive Pumps segment is readjusted to a revised 6.6% CAGR for the next 8-year period.
The U.S. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 9.3% CAGR
The Hot Water Recirculation Pumps market in the U.S. is estimated at US$1.4 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$992.1 Million by the year 2030 trailing a CAGR of 9.3% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.3% and 6.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6% CAGR.
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel.
Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and Research Platform
Complimentary updates for one year
Key Attributes:
Report Attribute | Details |
No. of Pages | 335 |
Forecast Period | 2022 - 2030 |
Estimated Market Value (USD) in 2022 | $5.1 Billion |
Forecasted Market Value (USD) by 2030 | $8.7 Billion |
Compound Annual Growth Rate | 6.9% |
Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
Impact of COVID-19 Pandemic and Looming Global Recession
Living with COVID-19: The New Normal
Amidst the Pandemic, Subdued Industrial Activity Affects Growth
Pandemic Impacts Growth in Hot Water Recirculation Pumps
An Introduction to Hot Water Recirculation Pumps
Hot Water Circulation Systems: A Historical Perspective
Parameters Determining Selection of Hot Water Circulation Pumps
Types of Hot Water Recirculating Pumps
Global Market Prospects & Outlook
Competition
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
World Brands
Recent Market Activity
MARKET TRENDS & DRIVERS
Rising Significance of Hot Water Recirculation Pumps in Enhancing Energy Efficiency and Reducing Energy Costs Drive Gains
Resource Efficiency and Climate Change: Critical Factors Fuel Demand for Recirculating Systems
As Climate Change and Emissions Emerge as Key Challenges, Focus on Resource and Energy Efficiency Fuels Demand for Hot Water Recirculation Pumps: Global CO2 Emissions in Billion Metric Tons of CO2 Per Year
With Fast-Paced Industrialization, Rising Demand for Hot Water from Industries Spurs Market Opportunities
Growing Adoption of BEM Systems to Spur Demand
Rapid Urbanization and Need for Convenience Spur Demand for Hot Water from Households, Presenting Growth Opportunities
Importance of Hot Water Piping Systems in Buildings to Fuel Market Gains
Management of Heat Loss and Flow Rates in Hot Water Circulation Pump Systems
Criticality of Safety in Hot Water Piping Systems
Efficient Hot Water Distribution Becomes Important for Multifamily Buildings
Market to Benefit from New Circulator Pump Control Technologies
Circulating Pumps Become More Efficient and User-Friendly
Hot Water Recirculating Loops Emerge as Water-Saving Feature
Rising Usage of Hot Water in District Heating Networks: Potential for Growth
Market to Benefit from the Implementation of Regional Codes and Standards for Energy Utilization & Optimization
Regulations Governing Temperature Maintenance of Hot Water Systems
Strict Regulations to Curb GHG Emissions and Clean Energy Targets to Propel Growth
Corrosion Presents a Key Challenge to Hot Water Circulation Systems
Corrosion in Hot Water Recirculating Systems of Commercial Buildings
FOCUS ON SELECT PLAYERS (Total 43 Featured)
A. O. Smith Corporation
Armstrong Fluid Technology
AUMA Riester GmbH & Co. K.G.
BacoEng
Calpeda S.p.A.
Danfoss A/S
Emile Egger & Cie S.A.
Flowserve Corporation
Grundfos Holding A/S
Mitsubishi Electric Corporation
Rheem Manufacturing
Saer Elettropompe SpA
SANDEN International (Australia) Pty. Ltd.
Taco Comfort Solutions
WATERKOTTE GmbH
Watts Water Technologies, Inc.
Xylem, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/w5mez2
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