Infinium Global Research Centrifugal Pump Market | Page 2

Centrifugal Pump Market: Trends and Forecast -2024
The Infinium Global Research analyzes the report of Centrifugal Pump Market over
the period of 2018 to 2024. This report also provides detailed qualitative and
quantitative analyses of the market dynamics, market size and future trends in
Global Centrifugal Pump Market. It will help a lot of decision makers to develop
strategies and find new opportunities in the Global markets of Centrifugal Pump.
The report covers market changing aspects including drivers, restraints,
opportunities, and trends expected to encouragement the expansion of the
Centrifugal Pump Market during the said period. The report also provides market
attractiveness analysis, by geography, and market share analysis, by key players
respectively. Some of the prominent participants in the Global Centrifugal Pump
Market are KSB AG, Sulzer AG, Ebara Corporation, Grundfos Holding A/S, Xylem Inc,
ITT Inc., The Weir Group PLC, Wilo SE and Tsurumi Manufacturing Co., Ltd.
According to report, the global centrifugal pump market is projected to grow at a
CAGR of 4.9% over the forecast period of 2018-2024.
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Pumps are generally grouped into two broad categories—positive displacement
pumps and dynamic (centrifugal) pumps. Centrifugal pumps impart momentum to
the fluid by rotating impellers that are immersed in the fluid. The momentum
produces an increase in pressure or flow at the pump outlet. The biggest advantage
of centrifugal pumps is its aforementioned simplicity. They don’t require any valves,
or many moving parts. This makes them easy to produce with many different
materials. It also allows them to move at high speeds with minimal maintenance.
Centrifugal pumps are used for sewage, petroleum, and chemicals. It can be also
used for most household or light industrial uses.
Key factors responsible for driving the centrifugal pump market includes use of
centrifugal pumps in wastewater treatment plant. With increasing number of
wastewater treatment plants to overcome the pervasive storage of water the
demand for centrifugal pump would increase. In addition, rapid urbanization across
the globe would also augment the market growth. However, the Centrifugal pumps
market is expected to face certain challenges owing stagnancy in oil and gas
industries. Market players are focusing on development of energy efficient pumps
because of increasing energy costs and growing environmental awareness among
end users.
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