Yahoo Finance Centrifugal Pump Market to Reach USD 45.56 Billion by 2028; Rapid Developments in Commercial and Residential Infrastructure to Bolster Market Growth: Fortune Business Insights™
Companies Covered in Centrifugal Pump Market Are: Process GRUNDFOS, KSB Company, Wilo Group, Flowrox, Sulzer, Xylem, Dover Corporation, The Weir Group PLC, Ebara Corporation, ITT Inc., Flowserve Corporation, Kirloskar Brothers Limited, Tsurumi Pump
Pune, India, Jan. 18, 2022 (GLOBE NEWSWIRE) -- The global Centrifugal Pump Market size is projected to reach USD 45.56 billion by 2028, exhibiting a CAGR of 5.9% during the forecast period. The market was valued at USD 29.24 billion in 2020 and is estimated to reach USD 30.56 billion in 2021. Rising commercial and residential infrastructure developments and extensive pump adoption in several applications are expected to boost market development. Fortune Business Insights™ mentions this information in its report titled “Centrifugal Pump Market, 2021-2028.”
Centrifugal pumps are utilized to transfer liquids in bulk and provide efficient flow rates. Increasing developments in commercial and residential infrastructure are expected to boost the adoption of these pumps. Furthermore, the rising adoption of pumps in several applications is expected to boost the pump’s demand. In addition, the incorporation of sensors is expected to boost the product’s sales. For example, KSB announced its “KSB guard” to monitor pump systems utilizing sensors at Germany's ACHEMA global trade fair. These factors are likely to boost the market development during the upcoming years.
Request to Sample PDF Brochure: - https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/centrifugal-pump-market-101079
List of Key Players Profiled in this Market Report
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)
Ask for Customization:- https://www.fortunebusinessinsights.com/enquiry/customization/centrifugal-pump-market-101079
COVID-19 Impact
Halt in Operations to Impede Market Growth
This market is expected to be negatively affected by the COVID-19 pandemic because of the halt on production and manufacturing activities. The sudden spike in COVID-19 patients led to the imposition of stringent lockdown regulations, which, in turn, led to supply chain disruptions. However, effective sanitization and reduced capacities enabled manufacturers to boost their productivity and recover losses. These factors are likely to foster market growth during the pandemic.
Click here to get the short-term and long-term impact of COVID-19 on this market.
Please visit: https://www.fortunebusinessinsights.com/industry-reports/centrifugal-pump-market-101079
Segments
By flow, the market is segmented into mixed flow, radial flow, and axial flow. By stage, it is bifurcated into multi-stage and single-stage. As per end-user, it is categorized into industrial, agriculture, commercial, and residential. Geographically, it is grouped into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Quick Buy – Centrifugal Pump Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/101079
Drivers and Restraints
Rising Commercial and Residential Spaces Construction to Boost Market Development
Increased focus on infrastructure development is expected to boost centrifugal pumps’ adoption. Increasing population and rapidly increasing spending capacity are expected to fortify centrifugal pumps’ adoption. Several private and public entities invest heavily in the refurbishment of existing establishments and constructing new buildings. The adoption of these pumps eliminates problems related to low-pressure and aids in delivering energy-efficient solutions to satisfy HVAC and water supply requirements. In addition, the rising population and construction of smart cities lead to the adoption of these pumps, thereby boosting sales. These factors are likely to drive the centrifugal pump market growth.
However, problems regarding cavitation and priming may hinder the market progress.
Regional Insights
Rising Demand for Energy and Stringent Government Initiatives to Boost Market Growth in Asia Pacific
Asia-Pacific is expected to dominate the centrifugal pump market share during the forecast period because of the rising energy demand. The market in Asia-Pacific reached USD 11.46 billion in 2020 and is expected to gain a remarkable market share in the upcoming years. Furthermore, increasing energy demand alongside rising progress in the processing and manufacturing industry is expected to boost the market growth.
In Europe, the presence of several centrifugal pump manufacturers and the adoption of stringent government initiatives to prevent water pollution are expected to boost adoption. Furthermore, the emergence of several new power generation plants and rising cooling and space heating systems are expected to boost centrifugal pumps’ demand. These factors may initiate market growth.
In North America development of industrial establishments and rising construction expenditure is expected to boost the adoption of the product. Additionally, the increased oil & gas production targets may foster market development.
Inquire Before Buying This Report:- https://www.fortunebusinessinsights.com/enquiry/queries/centrifugal-pump-market-101079
Competitive Landscape
Major Players Engage in Partnerships to Boost Brand Image
Prominent companies operating in the market devise partnership strategies to offer effective services and improve brand image. For example, Xylem Inc. and ESRI engaged in a partnership to service utilities globally in April 2021. The companies will pursue collaborative selling, joint marketing, solution development, and joint technical road mapping through this partnership. Further, companies adopt novel product launches, acquisitions, expansion, research, and development strategies to boost their market position globally.
Industry Development
June 2021: Kirloskar Brothers Limited launched a new manufacturing division named Advanced Technology Product Division that includes specialized pumps for nuclear applications.
REPORT SCOPE & SEGMENTATION:
Report Coverage | Details |
Forecast Period | 2021to 2028 |
Forecast Period 2021 to 2028 CAGR | 5.9% |
2028 Value Projection | USD 45.56 Billion |
Base Year | 2020 |
Market Size in 2020 | USD 30.56 Billion |
Historical Data for | 2017 to 2019 |
No. of Pages | 210 |
Segments covered | By Flow, By Stage, By End-user, and By Region |
Growth Drivers |
|
Increasing Construction Activities of Residential and Commercial Spaces Will Augment Growth | |
Growing Uncertainty during COVID-19 Pandemic to Boost Demand | |
Pitfalls & Challenges |
|
Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Key Emerging Trends – For Major Countries
Latest Technological Advancements
Regulatory Landscape
Industry SWOT Analysis
Porters Five Forces Analysis
Qualitative Analysis – Impact of COVID-19
Impact of COVID-19 on the Centrifugal Pump Market
Steps Taken by the Government to Overcome the Impact
Key Developments by the Industry Players in Response to COVID-19
Potential Opportunities and Challenges due to COVID-19 Outbreak
Global Centrifugal Pump Market Analysis (USD Billion), Insights and Forecast, 2017-2028
Key Findings / Summary
Market Analysis, Insights and Forecast – By Flow
Axial Flow
Mixed Flow
Radial Flow
Market Analysis, Insights and Forecast – By Stage
Single-Stage
Multi-Stage
Market Analysis, Insights and Forecast – By End-User
Residential
Commercial
Agriculture
Industrial
Water & Wastewater
Oil & Gas
Power Generation
Mining
Chemicals
Food & Beverage
Others
Market Analysis, Insights and Forecast – By Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
North America Centrifugal Pump Market Analysis (USD Billion), Insights and Forecast, 2017-2028
Key Findings / Summary
Market Analysis, Insights and Forecast – By Flow
Axial Flow
Mixed Flow
Radial Flow
Market Analysis, Insights and Forecast – By Stage
Single-Stage
Multi-Stage
Market Analysis, Insights and Forecast – By End-User
Residential
Commercial
Agriculture
Industrial
Water & Wastewater
Oil & Gas
Power Generation
Mining
Chemicals
Food & Beverage
Others
Market Analysis, Insights and Forecast – By Country
U.S. Market Analysis, Insights and Forecast – By End-User
Residential
Commercial
Agriculture
Industrial
Water & Wastewater
Oil & Gas
Power Generation
Mining
Chemicals
Food & Beverage
Others
Canada Market Analysis, Insights and Forecast – By End-User
Residential
Commercial
Agriculture
Industrial
Water & Wastewater
Oil & Gas
Power Generation
Mining
Chemicals
Food & Beverage
Others
Have a Look at Related Research Insights:
Solar Backsheet Market Size, Share and Global Trend By Type (Fluoropolymer, Non-fluoropolymer), By Installation Techniques (Flat Roof Solar, Pitched Roof Solar, Ground Mount Solar & others), By Thickness (Less than 100mm, 100-500mm & Greater than 500mm), By Application (Commercial, Industrial & Utilities), and Geography Forecast Till 2022-2029
Inverter Duty Motor Market Size, Share & Industry Analysis, By Construction Material (Laminated Steel, Cast Iron, and Aluminum), By Application (Pumps, Fans, Conveyors, Extruders, and Others), By End-User (Chemicals, Oil & Gas, Metal & Mining, Paper & Pulp, Food & Beverage, and Others) and Regional Forecast, 2019-2026
Natural Gas Generator Market Size, Share and Industry Analysis, By Power Rating (Below 75kVA, 75-375kVA, 375-750kVA, Above 750kVA), By Application (Stand-by and Continuous), By End-User (Residential, Commercial, and Industrial), and Regional Forecast, 2019 - 2026.
Australia Wind Turbine Operation and Maintenance Market Size, Share and COVID-19 Impact Analysis, By Type (Scheduled and Unscheduled), By Location (Onshore and Offshore), and Country Forecast, 2021-2028
Smart Meter Market Size, Share & Industry Analysis, By Type (Smart Electric Meter, Smart Gas Meter, Smart Water Meter) By Technology (Automatic Meter Reading {AMR} and Advanced Meter Infrastructure), By Application (Residential, Commercial and Industrial), and Regional Forecast, 2019-2026
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
U.S. :+1 424 253 0390
U.K. : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
LinkedIn: https://www.linkedin.com/company/fortune-business-insights
Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd
Twitter: https://twitter.com/FBInsightPvtLtd
