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Centrifugal Pump Market Size will Grow at 4.80% CAGR | Industry Analysis, Company Profile, Challenges, Competitive Landscape, Trends and Regional Forecast To 2023
Feb 27, 2019 (AB Digital via COMTEX) —
Centrifugal Pump is a type of pump that uses impeller to move water or other fluids. These pumps are used to induce flow by increasing the pressure of the fluid. The centrifugal pump is commonly used in industries such as water & wastewater, power, chemical, oil & gas, and others. Advantages of centrifugal pump includes easy to handle, compact in size, and can be used to lift highly viscous liquid such as paper pulp, muddy and sewage water, sugar molasses, and oil.
The global centrifugal pump market is projected to grow at a high rate during the forecast period, mainly due to increasing concern towards wastewater treatment and desalination. For instance, in December 2018. the US Department of Energy (DOE) stated that it plans to invest USD 100 million for energy water desalination hub. Further, industrial sector consumes a large volume of water, and due to depleting reserves of groundwater, the reuse of water has become an imperative. The governments across the world are focusing on the development of strict regulatory policy to build sustainable water systems including development of centralized systems for proper distribution and design of water treatment models. China, under the 13th Five-Year-Plan (2016-2020), has planned to invest around RMB 559 billion or 0.75 percent of its GDP on its water treatment industry.
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Centrifugal Pump Market Segments Analysis:
Global centrifugal pump market has been segmented based on type, stage, end-user, and region.
The key players of the global centrifugal pump market are Xylem (US), Grundfos (Denmark), Flowserve (US), KSB (Germany), Circor International (US), Sulzer (Switzerland), ITT Corporation (US), Wilo (Germany), Ebara Corporation (Japan), Pentair (US), Someflu (France), Baker Hughes, A GE Company (US), and Weir (UK).
Centrifugal Pump Regional Market Analysis:
Region wise, North America held the largest market share of the global Centrifugal Pump market in 2017. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the rising investment infrastructure development. Moreover, he increased demand from the water and wastewater sector, moderate demand from constructions sector, rising urbanization, and supportive government plans are expected to drive the market for centrifugal pumps in Asia Pacific region. The pumps market would be mainly driven by the growing need for water conservation in the countries such as US and Canada.
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Table of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List of Assumptions
3.6 Limitations of The Study
4 Market Insights
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