Circulator Pumps Market Size, Share, Growth, And Industry Analysis By Type (Vertical Circulator Pump And Horizontal Circulator Pump) By Application (Residential, Commercial, And Industrial) Regional Forecast By 2031

Updated On: 15 April 2024

Circulator Pumps Market Report Overview

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The global circulator pumps market size was USD 3511 million in 2022, as per our research, the market is expected to reach USD 3940 million in 2031, exhibiting a CAGR of 1.3% during the forecast period. 

The global COVID-19 pandemic has been unprecedented and staggering, with circulator pumps market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

The phrase circulator pumps refer to a specific kind of pump that is typically employed to circulate slurries, liquids, and gases in a closed circuit. The hydronic systems are the main pieces of equipment that employ circulator pumps, however, these are often powered by electricity and use centrifugal pumps. Circulator pumps are most frequently found in systems that are used to circulate either hot or cold water. The horsepower of the circulator pumps depends on the region of use; the domestic circulator pumps often have a smaller, sealed pump design and lesser horsepower, while the commercial and industrial ones have separate pump bodies and a higher range of horsepower to perform their tasks more effectively.

The increasing demand for hot water around the world has a significant impact on the growth for the circulator pumps market. The use of hot water is accelerating the market for circulator pumps, particularly in nations that experience cooler temperatures nearly all year round. Due to the circulator-pumps' ability to provide a stream of hot water that is ready for use while also saving a significant amount of time for consumers, the market is likewise in critical need. By employing it for the abundant supply of hot water, the industrial and commercial sectors are contributing to the market's expansion as well.

COVID-19 Impact: Halt In Production Impeded Market Value

The economic growth of the markets around the globe came to a sudden halt due to the emergence of the COVID-19 virus in the year 2020. Governments throughout the world strictly enforced lockdown regulations as the pandemic spread throughout the globe, which halted the regular operation of numerous companies. Since the imposition of the lockdown, the lack of import and export created a shortage of raw materials as well which directly slowed down the manufacturing process of the circulator-pumps. The workers were also urged to stay at home out of concern for spreading the disease, which further restrained the expansion of the circulator pump market in the early stages of the pandemic.

Latest Trends

"Integration Of Medium Sized Pumps Proliferates Market Growth "

The recent few years have seen a considerable increase in the market for circulator pumps due to the integration of middle-sized circulator pumps. Middle-sized pumps are the most effective due to their enhanced electronic feature control, effective operation, a significant reduction in energy consumption, promotion of coolant movement, and other features. Comparing circulator-pumps to conventional pumps, it has been discovered that middle-sized pumps are superior.

Circulator Pumps Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into vertical circulator pumps and horizontal circulator pumps. The segment of vertical circulator pumps is expected to lead the market by type during the market period of 2022-2031.

• By Application Analysis

Based on application, the market can be divided into residential, commercial, and industrial. The residential segment is anticipated to dominate the market by the application during the forecast period.

Driving Factors

"Growing Utilization Across Commercial Sector Augments Product Demand"

The development of the market has been influenced by the constantly expanding use of circulator pumps in the global industrial and commercial sectors. The circulator-pumps are much more powerful and supply a lot of liquid in the industrial and commercial areas. Since the circulator-pumps used in the business sector have more horsepower, they operate more effectively and save time by running nonstop without breaking down such as the smaller pumps. They are also widely employed in the commercial sector due to their capacity to improve the hot water system and maximize heat transfer.

"Higher Demand For Hot Water Drives Market Growth"

The primary factor that has been the driving force for the circulator pumps market growth is the growing demand and need for hot water across all the regions of the world. The remainder of the globe only uses hot water when it is appropriate for the season, unlike the colder countries, which receive it continuously from their suppliers. Although the need for pumps has increased due to the benefits of using hot or warm water for a variety of purposes, their use is still largely seasonal in many of the world's nations. The market for circulator-pumps has been helped by global urbanization and the construction industry's expanding success since more people are using hot water as a result of rising residential construction.

Restraining Factors

"Initial Cost Of Investment Hampers Product Value"

The potential expansion of the market for circulator-pumps has been constrained by the initial cost of investments and the ongoing and expensive maintenance of hot water systems. Although there is a severe shortage of hot water everywhere, particularly in colder climates, the market's steady growth is slowed by the costly installation process. The circulator-pumps are also known to experience scaling problems, which significantly raise the system's maintenance expenses. The primary market restrictions that are adversely affecting growth are these elements.

Circulator Pumps Market Regional Insights

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"North America Leads Due To Seasonal Weather Changes"

The region of North America is prone to cold weather, and most regions there might experience exceptionally low temperatures, which exacerbates the need for hot water. Due to the high consumer value in the region North America has the majority of the circulator pumps market share among all the other regions.

The second-largest market share for circulator pumps is held by the European region, which is next in line. This is a result of the high demand for circulator pumps in both the residential and commercial sectors of the HVAC industry. The key driving force for market growth in the region of Europe is also the residential usage of circulator pumps.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Grundfos (Denmark)
• Wilo (Germany)
• Flowserve (U.S.)
• KSB (Germany)
• Taco (U.S.)
• Xylem Inc (U.S.)
• STEELE (U.S.)
• Ebara (Japan)
• Allweiler (Germany)
• Sulzer (Switzerland)
• Pentair (U.S.)
• Liancheng Group (China)
• Kaiquan (China)
• CNP (France)
• Shimge (China)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors such as segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.