Centrifugal Pump Market is expected to foresee a steady growth by 2027 | CAGR: 5% | UnivDatos Market Insights

NOIDA, India, May 16, 2022 /PRNewswire/ -- A comprehensive overview of the Centrifugal Pump Market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Centrifugal pump market globally. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the global Centrifugal pump market at regional and country levels. The global centrifugal pump market is expected to grow at a CAGR of around 5% during the forecast period (2021-2027).

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Market Overview

A centrifugal pump is a mechanical device that is designed to increase the pressure of fluids during transportation. It converts the rotational kinetic energy to hydrodynamic energy, which is used for accelerating fluids, such as chemicals, water, wastewater, sludge treatment liquids, bleaches, oil, and resins. The fluid enters the pump impeller, which is placed near the rotating axis and is accelerated and moved radially into a diffuser, from where it exits. 

Factors, such as increasing exploration and production (E&P) activities in offshore deep-water oil and gas fields in the regions are expected to increase the demand for centrifugal pumps, as it is one of the most used pumps in the oil and gas industry for extraction, processing, and delivering applications. In addition, rapid industrialization, along with increasing product demand from the wastewater treatment sector, is among the key factors driving the growth of the market. Furthermore, the growing need to replace existing industrial pumps in the pharmaceutical and food and beverage industries is also providing a boost to market growth.

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The Global Centrifugal pump market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Impeller Type, the market is primarily bifurcated into:

• Overhung Impeller
• Vertically Suspended
• Between Bearing

Based on impeller type, the centrifugal pump market is segmented up into overhung impeller, vertically suspended, and between bearing. The overhung impeller segment catered to significant demand in the centrifugal pump market. The growth of the segment is owing to the extensive use of overhung impellers in commercial, residential, and industrial applications. In addition, they are also used in different end-use industries for power generation owing to their low cost as compared to bearing pumps.

By Stage, the market is primarily bifurcated into:

• Single Stage Pump
• Multi-Stage Pump

Based on stage, the centrifugal pump market is segmented into single stage pump and multi-stage pump. The multistage segment holds a considerable market share in the centrifugal pump market. This is due to their high energy efficiency, easy installation, low internal friction losses, optimized operation and control, and other features.

By Flow Type, the market is primarily bifurcated into:

• Axial Flow Pumps
• Radial Flow Pumps
• Mixed Flow Pumps

Based on flow type, the centrifugal pump market is segmented into axial flow pumps, radial flow pumps, mixed flow pumps. The radial flow segment holds the extensive market share in centrifugal pump market. It is mainly due to the orientation of the pumps that provide various technical advantage, including high efficiency, low maintenance, compact design, low bearing load, and many others.

By Capacity, the market is primarily bifurcated into:

• Small Capacity
• Medium Capacity
• High Capacity

Based on capacity, the centrifugal pump market is segmented into small capacity, medium capacity, and high capacity. The high-capacity segment holds a considerable market share in the centrifugal pump market. As centrifugal pumps are usually specified for higher flows and for pumping lower viscosity liquids. Also, centrifugal pumps are therefore suited to low pressure, high capacity, and pumping applications of liquids with viscosities between 0.1 and 200 cP.

By End-User, the market is primarily bifurcated into:

• Chemicals
• Oil and Gas
• Power Generation
• Construction
• Pharmaceuticals
• Food and Beverages
• Metals and Mining
• Water and Wastewater
• Others

Based on end-user, the centrifugal pump market is segmented into chemicals, oil and gas, power generation, construction, pharmaceuticals, food and beverages, metals and mining, water and wastewater, and others. The oil and gas segment holds a substantial market share in the centrifugal pump market. It is mainly due to the surge in the development of oil and gas infrastructure that is expected to provide a huge thrust to the centrifugal pump market.

Global Centrifugal pump Market Geographical Segmentation Includes:

• North America (United States, Canada, Rest of North America)
• Europe (Germany, UK, Spain, Italy, France, Rest of Europe)
• Asia-Pacific (China, Japan, India, Australia, Rest of APAC)
• Rest of World

Based on the estimation, The Asia Pacific region held an extensive share of the centrifugal pump market globally. The industrial infrastructure in the region is witnessing growth on account of business-friendly policies. Most of the countries in Asia-Pacific are in a growing phase, and the high rate of population growth has led to an increased requirement for water supply. Increasing population and industrialization support the growth in consumption. Demand for centrifugal pumps, which are used to transport crude oil, has increased significantly in the past few years. Increasing investments in R&D is also one of the factors driving the centrifugal pumps market in the Asia Pacific.

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The major players targeting the market include:

• Baker Hughes
• Circor International Inc.
• Ebara Corporation
• Grundfos Holding
• ITT Corporation
• Pentair Inc.
• Someflu
• Tsurumi Manufacturing Co. Ltd.
• Weir
• Xylem Inc

Competitive Landscape

The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating globally. The specialist team of research analysts' sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the global Centrifugal pump market. The major players have been analyzed by using research methodologies for getting insight views on market competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the global Centrifugal pump market?
• Which factors are influencing global Centrifugal pump market over the forecast period?
• What are the global challenges, threats, and risks in the global Centrifugal pump market?
• Which factors are propelling and restraining the global Centrifugal pump market?
• What are the demanding global regions of the global Centrifugal pump market?
• What will be the market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by the companies?

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