Centrifugal Pump Market

Centrifugal Pump Industry | Forecast 2030

The economic value generated by the centrifugal pump industry was estimated at approximately USD 37.5 billion in 2022. The rising residential and commercial infrastructure, coupled with the expansion of the manufacturing industry globally, is expected to drive the demand for centrifugal pumps globally.

One of the key drivers behind this growth is the need for reliable and efficient fluid transportation in various applications. Centrifugal pumps offer advantages such as high flow rates, low maintenance requirements, and the ability to handle a varied range of fluids, making them indispensable in numerous industries. Furthermore, the development of advanced technologies, such as variable frequency drives (VFDs) and IoT-enabled monitoring systems, has enhanced the performance and efficiency of centrifugal pumps, further fueling their adoption.

Access the Global Centrifugal Pump Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Despite this growth, the market faces competitive pressures and regulatory challenges, including stringent environmental standards. Manufacturers are responding by focusing on innovation in pump design, materials, and control systems to meet these challenges. Looking ahead, the centrifugal pump market is poised for continued expansion, driven by factors such as population growth, urbanization, and the imperative for efficient water management solutions. Additionally, the ongoing trend of digitalization and automation in industrial processes presents opportunities for manufacturers to develop smart and connected centrifugal pump solutions that offer real-time monitoring, predictive maintenance, and enhanced energy efficiency. These factors collectively indicate a promising trajectory for the centrifugal pumps industry in the foreseeable future.

Radial Flow Pump Market Insights

The global radial flow pump market size was estimated at USD 24.4 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 3.6% from 2023 to 2030. The driving factors for the market growth are attributable to the pump’s efficiency, versatility, and suitability for a wide range of applications. As industries continue to grow and evolve, the demand for reliable and efficient fluid handling solutions, such as radial flow pumps, remains strong. Government laws that are strict on energy efficiency, safety, and standards are anticipated to have a significant impact on the market. Many government agencies have not only restructured their existing structures but also their current policies. While many established nations have already made investments in the water treatment business, developing nations in Asia Pacific and North America are anticipated to encourage and boost investments in the sector in the years to come.

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Mixed Flow Pump Market Insights

The global mixed flow pump market size was estimated at USD 9.48 billion in 2023 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.8% from 2024 to 2030. Mixed flow pumps offer a balance between radial and axial flow pumps, resulting in efficient fluid movement with moderate to high flow rates and head capacities. This efficiency is a significant driver in applications where fluid transport is required across a range of flow rates and pressures.

Strict government laws on energy efficiency, safety, and standards are anticipated to have a significant impact on the market. While many established nations have already made investments in water treatment business, developing nations in Asia Pacific and North America are anticipated to encourage and boost investments in the sector in the coming years.

Axial Flow Pump Market Insights

The global axial flow pump market size was estimated at USD 3,992.0 million in 2022 and is anticipated to grow at a compounded annual growth rate (CAGR) of 3.1% from 2023 to 2030. The growth of the market is primarily attributed to the rising investments in wastewater treatment facilities and an uptick in activity in the oil industry to meet the rising energy demand. In addition, it is anticipated that rapid urbanization and industrialization across the world will have a beneficial effect on the expansion of the market in the coming years. Government laws, such as DOE energy conservation standards, that are strict on energy efficiency, safety, and standards are anticipated to have a significant impact on the market.

Company Profiles

Grundfos
Xylem
Flowserve
ITT Corporation
CIRCOR International
Baker Hughes
Gardner Denver
Ebara Corporation
Kirloskar Brothers Limited
Tsurumi Manufacturing
Alfa Laval

Competitive Insights

The competitive landscape of the centrifugal pump market is characterized by a mix of established global players and regional manufacturers. Several multinational companies dominate the global centrifugal pump industry. Some of the leading players include Grundfos; ITT Goulds Pumps; Xylem Inc.; Sulzer Ltd.; Flowserve Corporation; and KSB SE & Co. KGaA. These companies have a strong global presence, extensive product portfolios, and a well-established customer base. Companies continuously invest in research and development to innovate their product offerings. This includes developing more energy-efficient pumps, incorporating advanced materials, and integrating smart technologies for remote monitoring and predictive maintenance.

Centrifugal Pump Industry | Forecast 2030

Centrifugal Pump Industry Data Book – Radial Flow Pump, Mixed Flow Pump and Axial Flow Pump Market

Centrifugal Pump Industry Data Book Coverage Snapshot

Markets Covered

Centrifugal Pump Industry USD 37.5 billion in 2022
Radial Flow Pumps Market Size USD 24.4 billion in 2022 3.6% CAGR (2023-2030)
Mixed Flow Pumps Market Size USD 9.1 billion in 2022 4.7% CAGR (2023-2030)
Axial Flow Pumps Market Size USD 4.0 billion in 2022 3.1% CAGR (2023-2030)

Radial Flow Pump Market Growth & Trends

The global radial flow pump market size is anticipated to reach USD 32.2 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 3.6% from 2023 to 2030. One of the primary driving factors is the need for high-pressure fluid handling in industries such as oil and gas, water treatment, chemical processing, and power generation. Radial flow pumps are capable of generating significant pressure differentials, making them suitable for applications that require substantial pressure increases.

Radial flow pumps are utilized in construction projects for dewatering excavations, foundation work, tunneling, and managing water levels in construction sites. As infrastructure development continues, the need for effective fluid-handling solutions remains high, thus fueling the adoption of radial flow pumps over the forecast period. In addition, these pumps help transport and control water for various applications such as agriculture, and construction, among others. The demand for efficient water management solutions in municipal water supply, wastewater treatment, irrigation, and desalination drives the use of radial flow pumps.

Axial Flow Pump Market Growth & Trends

The global axial flow pump market size is anticipated to reach USD 5,109.1 million by 2030, registering a CAGR of 3.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. The global market has been growing due to increased energy consumption and exploratory activities. In addition, factors, such as favorable government policies and increasing demand for energy-efficient axial flow pump solutions, are anticipated to drive the overall market demand. Axial flow pumps are extensively used in the various stages of wastewater treatment, including aeration tanks, mixing tanks, and others, to facilitate proper mixing and aeration for an effective treatment process.

The efficient and high-capacity features of axial flow pumps make them well-suited for applications where large volumes of water or wastewater need to be moved, mixed, or treated. They play a significant role in ensuring the effective management of water resources and maintaining the proper functioning of wastewater treatment. Increasing awareness about environmental pollution, stringent regulations on waste and wastewater management, and growing demand for sustainable and efficient wastewater treatment solutions are expected to drive the market demand. Significant axial flow pump application is seen in irrigation systems, flood control systems, and sewage water treatment facilities. Axial flow pumps are also widely used in agriculture to remove surplus or unwanted water from fields as well as to pump water from water reservoirs to fields.

Mixed Flow Pumps Market Growth and Trends

The mixed flow pumps are known for their unique hybrid design that combines elements of both centrifugal and axial flow pumps and has garnered significant attention in recent years due to their versatility and efficiency in handling various fluid types. A notable trend in the mixed flow pumps market is the increasing demand for these pumps across a wide range of industries such as agriculture, irrigation, flood control, and wastewater management, offering a balanced solution between the high flow rates of axial flow pumps and the pressure capabilities of centrifugal pump. This adaptability to diverse fluid viscosities and conditions has contributed to the widespread adoption of mixed flow pumps.

Competitive Insights