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Hot Water Circulator Pump Market Size, Share & Industry Analysis, By Technology (Single Stage, Multistage), By Application (Residential, Commercial, Industrial) and Regional Forecast, 2021-2028

Region : Global | Report ID: FBI101638 | Status : Ongoing

 

KEY MARKET INSIGHTS

Water heating accounts for an ample amount of energy used across a wide range of applications. Hot water is used for residential, commercial, and industrial propose. Residential sector experiencing a tremendous demand for hot water owing to rapid urbanization and growing middle-class income. Circulator pumps are used to provide hot water at required rate of temperature and pressure. They are very efficient in delivering hot water instantly upon demand within a short time.


Circulator pumps ensure optimization of rate of heat transfer and enhance the performance of hot water system. Currently the world is witnessing extensive carbon emission and water scarcity. Many countries are opting for energy-efficient devices to cut down energy costs and conserve available energy resources for future generations. Therefore, hot water circulator pump market is anticipated to bolster at a rapid pace owing to superior advantages.


Key Market Driver -

Key Market Driver – Enormous demand of hot water for domestic purpose and HVAC industry

Key Market Restraint -

Key Market Restraint – Excessive maintenance and high initial investment


The classification of the hot water circulator pump is done based on type and application. Type further divided into single-stage and multistage. The single-stage pump is experiencing colossal growth owing to rapid urbanization and the continuous requirement of hot water for domestic purposes. The residential sector is likely to gain a sizeable market amongst application segment. Rising capital expenditure and growing middle-class income are bolstering the demand for hot water circulator pumps in the residential sector.


Rising consumption of hot water for domestic as well as district heating purposes is projected to drive the hot water circulator pump market. Also, the massive demand for hot water in cold countries, along with industrialization and commercialization is increasing the demand for hot water circulator pumps. The circulator pump is prone to scaling problem which increases the maintenance cost of the hot water system. Also, the high initial investment for installation is expected to retard the growth of the hot water circulator pump market.


Key Players Covered:


Some of the major giants for the hot water circulator pump are Grundfos, Xylem Inc., Flowserve Corporation, Armstrong Fluid Technology, NIBE Energy Systems Limited, Calpeda, SAER Elettropompe S.p.A., Wilo Group, Kirloskar Brothers Limited, and US Solar Pumps. 


Regional Analysis:


The hot water circulator pump market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North American countries are prone to severe cold conditions and seasonal weather changes. A vast amount of hot water is required for domestic as well as commercial processes. The pump is needed to transfer hot water without any heat loss which saves a lot of energy. Simultaneously growth in district heating would anticipated to boost the hot water circulator pump market in North America.


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The hot water circulator pump market in Europe is driven by massive demand in HVAC industry and continuous requirement of hot water by residential sector. Asia Pacific provides one of promising market opportunities for the growth of the hot water circulator pump market. The necessity of hot water in generation of electricity and rapid urbanization is expected to fuel the growth of the hot water circulator pump.


Segmentation






















 ATTRIBUTE


 DETAILS

By Type




  • Single Stage

  • Multistage



By Application




  • Residential

  • Commercial

  • Industrial



By Geography




  • North America (USA and Canada)

  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico and Rest of Latin America)

  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)



Key Industry Developments



  • In June 2019, Engie secured a contract from the Canadian government to modernize, maintain, and operate a district heating system in Canada. A 35 years’ contract won by Innovate Energy, comprising Engie, PCL Construction, and Black & McDonald to operate a district energy system that heats 80 buildings and cools 67 buildings in Canada’s Capital Region.

  • In May 2019, Energy partner Vattenfall has been selected to deliver the district heating infrastructure for Argent Related and Barnet Council’s 180-acre development of Brent Cross South in Barnet, North London.

  • In February 2019, Liberty Group secured a £35m Leeds pipe project being delivered by Vital Energi and Leeds City Council. Refurbishment of the existing district heating system and building another new system that will supply heat and hot water to 26 tower blocks in the city. 


Hot Water Circulator Pump Market Size, Share and Global Industry Trend Forecast till 2026
  • Ongoing
  • 2020
  • 2017-2019

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