REPORT OVERVIEW
-
Request a Free Sample to learn more about this report
The global centrifugal pump & positive displacement pump market size was 31010 million in 2020. As per our research, the market is expected to reach USD 36750 million by 2027, exhibiting a CAGR of 2.4% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
Centrifugal pumps are widely used in various industries for fluid transportation and are known for their simplicity, efficiency, and versatility. They are commonly used for applications like water supply, wastewater treatment, oil and gas, chemical processing, and HVAC systems. Centrifugal pumps are commonly used for water supply in residential, commercial, and industrial settings. They play a crucial role in pumping wastewater for treatment. They are used for transferring chemicals and fluids in the chemical industry.
Positive displacement pumps work by trapping a fixed amount of fluid and then forcing it into a discharge pipe. They are known for their accuracy and ability to handle high-viscosity fluids, making them suitable for applications like oil and gas, food and beverage, pharmaceuticals, and chemicals. They are used for precise handling of food products such as syrups, chocolate, and dairy. Positive displacement pumps are employed for precise fluid transfer during drug manufacturing processes. They are used for handling various chemicals, including those with high viscosity.
COVID-19 IMPACT: Disrupted Supply Chains resulted in Recession of the Market
COVID-19 had a life changing impact globally. The centrifugal pump & positive displacement pump market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected.
Disruptions in the global supply chain, including delays in the production and transportation of components, impacted the availability of centrifugal pumps. Manufacturers faced challenges in sourcing raw materials and components, leading to potential delays in fulfilling orders. Positive displacement pump manufacturers encountered challenges in obtaining components and raw materials, leading to production delays and potential disruptions.
During the initial phases of the pandemic, many industries experienced a decrease in demand as lockdowns and restrictions disrupted manufacturing and construction activities. Sectors like oil and gas, hospitality, and commercial real estate, which are significant users of centrifugal pumps, were particularly affected. The market is anticipated to boost the centrifugal pump & positive displacement pump market following the pandemic.
LATEST TRENDS
"Innovations in Pumping Technology to Broaden Market Growth"
There was a growing emphasis on energy-efficient centrifugal pump designs to reduce operating costs and meet environmental regulations. Variable frequency drives (VFDs) and high-efficiency motors were being increasingly integrated into centrifugal pump systems. Sustainability and environmental compliance were becoming important considerations, leading to the development of pumps that minimize waste, reduce energy consumption, and meet regulatory standards. Ongoing research and development efforts were focused on improving the efficiency and performance of positive displacement pumps through innovative designs and materials. These latest developments are anticipated to boost the centrifugal pump & positive displacement pump market share.
SEGMENTATION
-
Request a Free Sample to learn more about this report
By Type
Based on type, the market is divided into Axial Flow Pumps, Mixed or Radial Flow Pumps, Peripheral Pumps and Jet Pumps.
By Application
Based on application, market is segmented into Domestic water and Waste water, Petroleum industrial, Chemical industrial, Food and Beverage, Mining industrial and others.
DRIVING FACTORS
"Infrastructure Development to Boost Market Share"
Centrifugal pumps are crucial for HVAC systems, building services, and fire protection in commercial and residential buildings. Urbanization and construction projects drive the demand for these pumps. The demand for clean water and wastewater treatment facilities is on the rise globally. Centrifugal pumps play a vital role in water supply and wastewater treatment processes, making them indispensable in this sector. The oil and gas sector relies heavily on centrifugal pumps for activities such as crude oil transport, refining processes, and petrochemical production. Market growth is often tied to oil prices and exploration activities.
"Viscous Fluid Handling to Boost Market Size"
Positive displacement pumps excel at handling high-viscosity fluids, making them essential in industries such as oil and gas, food and beverage, and pharmaceuticals, where viscous materials are common. In pharmaceuticals, precision and sterility are paramount. Positive displacement pumps are used for accurate dosing and handling of sensitive pharmaceutical products. Industries like biotechnology and cosmetics require hygienic pumping solutions, and positive displacement pumps are designed to meet these stringent standards. These factors are anticipated to drive the centrifugal pump & positive displacement pump market.
RESTRAINING FACTORS
"Higher Initial Investment to Hamper Market Share"
Centrifugal pumps can have significant upfront costs, including the purchase of pumps, motors, installation, and maintenance. This can be a barrier to entry for some potential users. The maintenance and repair of centrifugal pumps can be costly, and downtime during maintenance can disrupt production processes. Positive displacement pumps, especially those designed for specialized applications or industries with strict hygiene requirements can have higher upfront costs. The factors are anticipated to hinder the centrifugal pump & positive displacement pump market growth.
REGIONAL INSIGHTS
-
Request a Free Sample to learn more about this report
North America to Hold the Major Share of the Market due to the Diversity in the Industrial Base
The U.S. is one of the largest markets for centrifugal pumps. It has a diverse industrial base, including the oil and gas industry, manufacturing, agriculture, and municipal water supply systems. The demand for pumps in these sectors has historically been high. North America, especially the United States and Canada, has a strong presence in the positive displacement pump market due to its diverse industrial sectors, including food and beverage, pharmaceuticals, and petrochemicals.
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 in 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 portfolio.
List of Market Players Profiled
- Grundfos [Denmark]
- Flowserve [U.S.]
- ITT Corporation (Xylem Inc.) [U.S.]
- KSB [Germany]
- Sulzer [Switzerland]
- Ebara [Japan]
- Schlumberger [U.S.]
- Weir Group [U.K.]
REPORT COVERAGE
This research profiles a report with extensive studies that take into description of 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 like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints and other. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 31010 Million in 2020 |
Market Size Value By |
US$ 36750 Million by 2027 |
Growth Rate |
CAGR of 2.4% from 2020 to 2027 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
-
What value is the centrifugal pump & positive displacement pump market expected to touch by 2027?
The global centrifugal pump & positive displacement pump market is expected to reach USD 36750 million by 2027.
-
What CAGR is the centrifugal pump & positive displacement pump market expected to exhibit by 2027?
The centrifugal pump & positive displacement pump market is expected to exhibit a CAGR of 2.4% by 2027.
-
Which are the driving factors of the Centrifugal Pump & Positive Displacement Pump market?
Infrastructure Development and Viscous Fluid Handling are drivers of this Centrifugal Pump & Positive Displacement Pump market.
-
Which are the top companies operating in the Centrifugal Pump & Positive Displacement Pump market?
Grundfos, Flowserve, ITT, KSB, Sulzer, Ebara, Schlumberger, Weir Group, are key companies operating in the Centrifugal Pump & Positive Displacement Pump market.