The global centrifugal pump market size was estimated to be US$ 37.3 billion in 2020 and is expected to reach US$ 58.2 billion by 2031 at a CAGR of 4.2%.
A Centrifugal pump is a mechanical gadget intended to move fluid through the exchange of centripetal energy through impellers. These sorts of pumps are utilized for pumping Oil, Gas, and Water. The rising reception of mechanical pumps in different ventures, including water and wastewater, compound, oil and gas, and power generation is relied upon to decidedly affect market development. Modern pumps are fabricated in various sizes, shapes, and limits. They are additionally widely utilized in the power business in different cycles, including flow, kettle feed, and slop dealing with. The development of the compound business is relied upon to emphatically affect item interest during 2022-2032.
The water and wastewater application segment drove the market and represented a sizable share of the worldwide income in 2020. Expanding interest for lift and sewage pumps because of extending modern stages and amassing of wastewater in enormous volumes is relied upon to supplement the segment development. The developing assembling offices across arising nations are relied upon to assume a critical part in expanding the prerequisite of modern pumps.
Centrifugal pump drove the market and represented considerable share of the worldwide income in 2020. The interest for centrifugal pumps is projected to develop a record of the blast in water driven breaking in the oil and gas industry in nations, including the U.S., Canada, the U.K., and Brazil.
Positive relocation pumps are probably going to extend at the quickest CAGR over the gauge period, resulting from their capacity to work at lower speeds, which makes them less inclined to harm brought about by high thickness oils and slurries. These are liked in the oil and gas industry, predominantly due to the constraints of centrifugal pumps.
The electrical centrifugal pump segment held the biggest market size as these pumps can deal with the two solids and fluids and are utilized across various areas to help creation. Electrical centrifugal pumps are normally used to pump fluid. They utilize an electric engine to drive the pump, which helps in expanding the liquid's motor energy. Electrical centrifugal pumps are utilized in various areas, for example, mechanical, horticultural, and homegrown.
Asia Pacific drove the market and represented significant share of the worldwide income in 2020. The market is relied upon to develop by virtue of the gigantic development of the end-use businesses, including water and wastewater, compound, and oil and gas. The rising requirement for reusable water is one of the significant worries in arising nations, including India, China, and Malaysia. This is relied upon to decidedly affect the territorial market development during the forecast time frame.
North America is expected to observe critical development because of the mechanical headways relating to the predominant presentation of pumping frameworks in the district. The U.S. held the biggest share of the North American market in 2020. Rising investigation exercises in both the offshore and coastal oil and gas area are expected to drive the interest for mechanical pumps during 2021-2031. What's more, the substitution of existing water and wastewater foundation in the nation is probably going to help the interest for these pumps over the forecast period of 2022-2032.
Global Centrifugal Pump Market Value Share Analysis, by Geography (2022)
The report titled “Global Centrifugal Pump Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032”, wherein 2021 is the historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the Global Centrifugal Pump Market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global Centrifugal Pump market is segmented as type, end use, and region. Based on type, the Centrifugal Pump market is segmented into Electronic, Mechanical, Other. Based on end use, the Centrifugal Pump market is segmented into Hospitals, Ambulatory Surgical Centers, Specialty Clinics, Other. Based on geography, the Global Centrifugal Pump Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is sub-segmented into the United States, Canada and Rest of North America. Europe is sub-segmented into Germany, United Kingdom, Italy, France, Spain, and Rest of Europe. Asia Pacific is sub-segmented into China, Japan, India, Australia, and Rest of Asia Pacific. Middle East & Africa is sub-segmented into Saudi Arabia, UAE, South Africa and Rest of Middle East & Africa. South America is sub-segmented into Brazil and Rest of South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on Global Centrifugal Pump Market. Further, market share of prominent companies in the Global Centrifugal Pump Market would also be estimated.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the Centrifugal Pump companies. The Global Centrifugal Pump Market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the Centrifugal Pump business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the Global Centrifugal Pump Market.
The key players of the Global Centrifugal Pump Market are Medtronic, Terumo Corporation, Getinge AB, LivaNovaPlc, Qura Srl, Abbott Laboratories, Braille Biomedica Ltd, Baxter International, 3M, and others.
Global Centrifugal Pump Market Key Segments:
Based on type
Based on end use
The global centrifugal pump market is expected to reach US$ 58.2 billion by 2031.
The global centrifugal pump market is expected to register a CAGR of 4.2% by 2031.
Asia Pacific is the principal contributor to the global centrifugal pump market.
Based on type, the centrifugal pump market is segmented into Electronic and Mechanical.
Major players operating in the global centrifugal pump market include Medtronic, Terumo Corporation, Getinge AB, LivaNovaPlc, Qura Srl, Abbott Laboratories, Braille Biomedica Ltd, Baxter International.
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