Centrifugal Pump Market Analysis
Centrifugal pumps have impellers playing a pivotal role in transporting fluids or water to increase
pressure and use it in various operations. The centrifugal pump market is expected to gain 4.01%
CAGR during the forecast period (2016-2023). Market Research Future (MRFR) in their latest
report includes several factors with potential to impact the centrifugal pump market in the coming
years.
Several industries like water & wastewater, oil & gas, chemical, power, and others are expected to
expand the functional scope for the centrifugal pumps market. Eco-friendly concerns are also
providing thrust to the market. Rapidly increasing industrial sectors in the developed and
developing nations can ensure a smooth run for the centrifugal pump market.
Global Centrifugal Pump Market Segmentation:
The global centrifugal pump market, as per the study of MRFR, can be segmented into type, stage,
and end-user. The segmentation delves deep into the market to gain maximum insight and is
backed by key information regarding various factors.
Based on the type, the centrifugal pump market includes vertically suspended, overhung impeller,
and between-bearing. The vertically suspended segment is expected to helm the market during the
forecast period as its space consumption is 75% less than horizontal pumps with electric motor
drives. This is bound to spur the intake of vertically suspended machines into petroleum, oil & gas,
commercial buildings, and industrial process services.
Concerns regarding the end-user leads the centrifugal pump market to a segmentation by oil &
gas, chemical, power, water & wastewater, and others. The water and wastewater segment is
expected to be in the charge of the global market during the forecast period. Rise in concerns
regarding environmental balance can be a deciding factor for the segmental growth in the coming
years.
Regional Analysis:
Region-specific analysis of the global Centrifugal Pump Market Analysis includes North
America, Europe, Asia Pacific (APAC), South America, Africa, and the Middle East.
In 2017, North America was the market to hold the largest share based on a revenue-wise analysis.
It is still expected to dominate the market in the coming years. The region has several industries
with advanced technologies deployed. Such diverse, yet immensely well-structured, segments are
influencing the intake of centrifugal pumps. At the same time, demand for the reduction in
wastewater is providing traction to the regional market. Europe is also enjoying benefits of strict
government rules regarding wastewater management. Eco-friendly processes are well-formed and
the automotive sector is robust which are giving the market a head start.
The APAC market is expected to be the fastest growing one as highly-populated regions like India,
China, Japan, and others are promoting the need for wastewater management. At the same time,
industries are popping up as a part of the initiative taken by governments to revamp their economic
infrastructure which would be the fastest growing market during the forecast period, mainly due