FMI has announced Centrifugal Pumps Market Growth and Key Trends 2015 – 2025
Future Market Insights has announced the addition of the “Centrifugal Pumps Market: Global Industry Analysis and Opportunity Assessment 2015-2025" report to their offering.
Centrifugal pumps are most used pumps in the world which is robust and effective in nature. It has two basic components; the rotary element called an impeller which helps in creating a flow and stationery element, which is a shaft made up of a casing. Materials used in centrifugal pumps are plastic, steel, cast irons, stainless steel. Centrifugal pumps are important because its varied functions and applications in various industries like oil and gas, agriculture, construction.
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Basic mechanisms of pumps are not changed except their applications, which has improved quite drastically. Improvement in designs, functioning, quality, life cycle of the pumps has a favorable effect on its demand in the market. Recently, Triton centrifugal screw pumps are specially made to get rid of the discharge of saltwater. They have a chopper pump frame which offers high efficiency and also helps in handling the delicate materials and thick sludges. Grundfos and Severn Trent would be working in a partnership to provide high quality products, technical expertise, better improvisation and also to reduce whole life cost. Worthington Pump Limited (WPL) will be acquiring Gruppo Aturia and its subsidiaries Pompes Rutschi SAS(France) and Rutschi Fluid AG(SWizertland) to become a global pump company developing and targeting it’s market across Europe, Middle East and Africa. Canned motor pump is invented by Rutschi, which has its presence globally and majorly focusing on pumps for nuclear submarines.
Centrifugal Pumps Market: Drivers & Restraints
One of the important key drivers for centrifugal market is increased infrastructure development by government of emerging economies. They are expected to invest more in this sector, especially in segments like roads, highways, railways, power. With increase urbanisation, there will be more focus on water conservation and waste water management. Oil and gas sector and metals and mining industry will grow, which would further increase the demand for centrifugal pumps.
Though centrifugal pumps are in demand but it has lot of constraints too like price wars among local manufacturers, less product differentiation, replacement sale is very low due to long operating life of the product, poor suction power, less investment in R&D of these products and also these pumps sometimes create cavitation.
Centrifugal Pumps Market: Segmentation
Centrifugal pump are broadly classified on the basisof the following segments:-
By Product type:
Single-stage radial flow pumps
Multi-stage radial flow pumps
Axial and mixed flow pumps
Ciculator and sealless pumps
By End user Type:
Oil and gas
Water and wastewater
Construction (including HVAC)
Food and beverage
Others (like marine)
Centrifugal Pumps Market: Overview
Centrifugal pumps market will grow substantially due to increase spending in infrastructure and power sector especially in emerging economies. The Government is taking measures to revive projects execution. With rapid technological advancement, product innovation and variety of options available in the market, the centrifugal pumps market is expected to grow. Japan and China represents the largest market for this product category. Asia Pacific will emerge as the fastest growing region for centrifugal pumps market.
Centrifugal Pumps Market: Region-wise Outlook
Centrifugal pumps market is expected to register a double-digit CAGR for the forecast period. Depending on geographic regions, the centrifugal pumps market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. As there are more growth opportunities in Asia Pacific in terms of infrastructure, enhancement of product quality and increase urbanisation, Asia Pacific dominated the global centrifugal pumps market in terms of market revenue. China is the fastest growing market. Also demand for centrifugal pumps will rise due to recommencement of various projects in the recovering economies.
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Centrifugal Pumps Market: Key Players
Some of the key market players in centrifugal pumps market are ITT Corporation, KSB AG, Flowserve, Sulzer, Ebara, Grundfos, Weir, Wilo AG.