Centrifugal Pump Market to Touch USD 45.56 Billion by 2028; Rapid Developments in Commercial and Residential Infrastructure to Bolster Market Growth

The global centrifugal pump market size is anticipated to grow remarkably by touching USD 45.56 billion by 2028. Fortune Business Insights™ in its report “Centrifugal Pump Market Size, Share & COVID-19 Impact Analysis, By Flow (Axial Flow, Radial Flow, Mixed Flow), By Stage (Single-Stage, Multi-Stage), By End-user (Residential, Commercial, Agricultural, Industrial {Water & Wastewater, Oil & Gas, Power Generation, Mining, Chemical, Food & Beverage, and Others}), and Regional Forecast, 2021-2028.” observes that the market stood at USD 29.24 billion in 2020 and is estimated to reach USD 30.56 billion in 2021. It is projected to exhibit a CAGR of 5.9% during 2021 and 2028. Rising commercial and residential infrastructure developments and extensive pump adoption in several applications are expected to boost the market's growth.

The Wilo Group to Establish New Headquarters to Boost Global Presence

The Wilo Group established a new headquarter and production facility in Cedarburg, U.S., in May 2020. The new production facility is 250,000 sq ft long and shall help the company to reach a wider audience and boost its business. The facility is expected to open in the first quarter of 2022. The company shall bring Wilo Machine Co Wilo USA, Scot Pump, and Weil Pump’s operations in a single facility through this expansion. This development shall widen the company’s brand presence.

COVID-19 Impact

Halt in Operations to Impede Market Growth

This market is expected to be negatively affected by the COVID-19 pandemic because of the halt on production and manufacturing activities. The sudden spike in COVID-19 patients led to the imposition of stringent lockdown regulations, which, in turn, led to supply chain disruptions. However, effective sanitization and reduced capacities enabled manufacturers to boost their productivity and recover losses. These factors are likely to foster market growth during the pandemic.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/centrifugal-pump-market-101079

Rising Commercial and Residential Spaces Construction to Boost Market Development

Increased focus on infrastructure development is expected to boost centrifugal pumps’ adoption. Increasing population and rapidly increasing spending capacity are expected to fortify centrifugal pumps’ adoption. Several private and public entities invest heavily in the refurbishment of existing establishments and constructing new buildings. The adoption of these pumps eliminates problems related to low-pressure and aids in delivering energy-efficient solutions to satisfy HVAC and water supply requirements.  In addition, the rising population and construction of smart cities lead to the adoption of these pumps, thereby boosting sales. These factors are likely to drive the centrifugal pump market growth.

Major Players Engage in Partnerships to Boost Brand Image

Prominent companies operating in the market devise partnership strategies to offer effective services and improve brand image. For example, Xylem Inc. and ESRI engaged in a partnership to service utilities globally in April 2021. Through this partnership, the companies will pursue collaborative selling, joint marketing, solution development, and joint technical road mapping. Further, companies adopt novel product launches, acquisitions, expansion, research, and development strategies to boost their market position globally.

Industry Development

• June 2021: Kirloskar Brothers Limited launched a new manufacturing facility in Cedarburg, U.S. This development shall bring forth Weil Pump, Wilo USA, and Scot Pumps operations in a single production facility.

List of Key Companies Profiled in the Report:

• GRUNDFOS (Denmark)


• KSB Company (Germany)


• Wilo Group (Germany)


• Flowrox (Finland)


• Sulzer (Switzerland)


• Xylem (U.S.)


• Dover Corporation (U.S.)


• The Weir Group PLC (Scotland)


• Ebara Corporation (Japan)


• ITT Corporation. (U.S.)


• Flowserve Corporation (U.S.)


• Kirloskar Brothers Limited (India)

Further Report Findings

• The market in Asia-Pacific reached USD 11.46 billion in 2020 and is expected to gain a remarkable position in the global centrifugal pump market share. Rising energy demand is expected to boost the adoption of these pumps in the region.


• Furthermore, increasing energy demand alongside progress in the processing and manufacturing industry is expected to boost the pumps’ sales. These factors are likely to insight growth in the market.


• According to flow analysis, the radial flow segment is expected to dominate the market share during the forecast period. Technical advantages such as low bearing load, compact design, low maintenance, and high efficiency are likely to boost market development.

Table of Segmentation