Centrifugal Pump Market to Grow at a CAGR of 6.33% During the Forecast Period; Upsurge in Population to Offer Beneficial Opportunities for the Market Growth

The global centrifugal pump market size stood at USD 42.20 billion in 2024. It is probable to reach USD 44.90 billion in 2025 and USD 69.00 billion by 2032, showcasing a CAGR of 6.33% during the forecast period.

Fortune Business Insights™ presents this information in its report titled, “Centrifugal Pump Market Size, Share & Industry Analysis, By Operation (Electrical, Hydraulic, and Air Driven), By Stage (Single Stage and Multi-Stage), By Flow (Axial, Mixed Flow, and Radial Flow), By End-User (Residential, Commercial, Agriculture, and Industrial), and Regional Forecast, 2025-2032”. 

Centrifugal pumps are known for saving energy and are in demand, majorly due to various regulatory requirements and growing environmental issues. Accurate control over the pump velocity is provided by the variable frequency drives (VFDs). It also enables modification based on urgent needs, thus enhancing energy efficiency and promoting the longevity of different parts of the pump. Additionally, different market players operating in the market are KBS, Sulzer, Grundfos, and ITT Corporation. The ongoing demand for centrifugal pumps across different sectors including water and wastewater management, benefits these companies. 

The COVID-19 pandemic hampered the market due to a temporary pause on the production of centrifugal pumps owing to the lockdowns and restrictions by governments across major developing and developed countries.

Offering Advanced Products by Key Players to Fuel Market Expansion

In January 2022, Sulzer, an expert in producing flow equipment, introduced the SES and SKS series and extended its range of clean water pumps. These newly launched EN733 standard pumps offer a reliable, operative, and economical solution for commercial use, water treatment plants, municipalities, and irrigation applications.

Growing Demand from the Agriculture Sector to Boost the Market Growth

The agricultural sector often looks for centrifugal pumps majorly due to its capability to transport the water in irrigation systems efficiently. With farmers embracing contemporary irrigation practices for enhancing yield, the demand for efficient and reliable pumps is growing, thus leading to the centrifugal pump market growth. This is particularly adopted in developing nations where the traditional techniques of irrigation are preferred. The growing global population is rising eventually, thus resulting in an upsurge in essential food items.

Conversely, higher sensitivity to cavitation with the growing cost of high-pressure applications hinders market growth.

Top Players Invest in Research and Development to Maintain Their Market Presence

The global market is characterized by a huge number of key players operating in the market. One of the prominent players operating in the market is Flowserve. For instance, in July 2024, Flowserve Corporation secured the intellectual property. It started the research and development that is connected with cryogenic Natural Gas (LNG) submerged pump technology, systems, and packaging from NexGen Cryogenic Solutions, Inc. (NexGen Cryo).

Notable Industry Development

• In July 2021, CIRCOR International introduced its RTK discharge and pump protection control valve. This product mixes a pump protection recirculation valve with a control valve. It is used with low-pressure centrifugal pumps, condensate pumps, or boiler feedwater pumps.

List of the Companies Profiled in the Report:

• Grundfos (Denmark)
• Flowserve Corporation (U.S.)
• Sulzer (Switzerland)
• Wilo SE (Germany)
• CIRCOR (U.S.)
• Baker Hughes (Italy)
• Alfa Laval (Sweden)
• Ingersoll Rand (U.S.)
• WEG (Brazil)
• Schlumberger (U.S.)
• Kirloskar Brothers Limited (India)
• Pentair (U.S.)
• VANSAN Water Technologies (Turkey)
• PSP Pumps Pvt, Ltd (India)
• LEO Pump (China)

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

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

Further Report Findings

• Asia Pacific held the highest centrifugal pump market share, majorly due to the need for agricultural centrifugal pumps in developing countries such as India. Additionally, the growing agriculture sector and industrialization promote market growth across the region.
• Market growth in North America is driven by the growing need for products from the oil and gas industry, especially in the U.S. These products are highly used in midstream, upstream, and downstream processes.
• Market expansion in Europe is propelled by their effectiveness in pumping large volumes of liquids particularly the corrosives, thus making it crucial in chemical production processes.
• In terms of stage, the single stage segment led the market in 2024 due to its growing use in different industries and its enhanced adaptability.

Table of Segmentation