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Vertical turbine pumps are a kind of centrifugal pump, aimed to convey fluid from a usually deep underground reservoir. The pump is electrified by the electric motor connected via vertical shaft to impellers at the bottom of the pump. These pumps are primarily manufactured from stainless steel or ductile iron. It is mainly utilized in the agriculture sector, wastewater treatment, the municipal sector, firefighting sector, and industries, including oil & gas, petroleum, power generation, chemical and others. In industrial applications, these pumps are explicitly utilized to pump the water with rotating impellers' support.
Vertical turbine pumps have several advantages such as, ease of operation & mount ability and steady delivery. The increasing investment in building efficient water infrastructure facilities across developing nations is anticipated to have a positive impact on the market. Moreover, increasing urbanization and a high focus on wastewater management and water conservation are projected to augment the demand for vertical turbine pumps in the future ahead. Considering these factors, the global vertical turbine pumps market is estimated to witness bolstering growth in the forecast period.
However, the COVID-19 pandemic has adversely affected the vertical turbine pump market. The demand has been hampered in recent times owing to, the shutting down of the manufacturing facilities. It has therefore resulted in the fluctuation of module prices thus, affected the capital investment across the regions. Nevertheless, the support of the governmental bodies to manufacturers across countries including, India, the U.K., U.S., China, South Korea, etc., is expected to downgrade the impact with unidirectional trade policies.
Key Market Driver -
• Adoption of state-of-art engineering techniques • Growing demand for vertical turbine pumps across chemical and power generation industries
Key Market Restraint -
• Availability of inferior quality pumps
Key players operating in the global Vertical Turbine Pumps market are Pentair, Grundfos Pumps Corporation, Flowserve Corporation, Sulzer Ltd, Gorman-Rupp Pump, Xylem, Ruhrpumpen, Inc., Kirloskar Brothers Limited (India), Process Systems, Inc. Hydroflo Pumps, Simflo Pump, SMi Saudi Mechanical Industries Co., Gemmecotti Srl, Aurum Pumpen, Cascon Inc., National Pump Company, Corken, Inc., Nickerson Company, Inc and others.
North America is in the best position to lead the market. It is attributed to the strong presence of manufacturers including, Pentair, Flowserve Corporation and others. These manufacturers offer a wide range of vertical turbine pumps that comply with ISO, API and ASME standards. Owing to this, the pumps are utilized across applications where extreme water-working is required. The utilization of state-of-the-art techniques is further fuelling the market growth.
The Asia Pacific is expected to witness the highest growth in the forecast period. It is because the manufacturers such as, Kirloskar Brothers Limited (India) and others are strongly focusing on R&D to cater the requirements of lower-submergence. Additionally, the demand for turbine pumps from the wastewater treatment sector across India, China, Southeast Asian countries is anticipated to influence the market growth.
Europe shows strong market growth owing to, increasing demand for vertical turbine pumps across municipal, firefighting and agriculture applications. Additionally, Europe is one of the most developed markets in the globe. Thus, manufacturers such as, Grundfos Pumps Corporation, Sulzer Ltd and others are consistently designing their pump products to handle polluted fluid, especially in industrial applications.
The Middle East & Africa and South America are anticipated to witness steady growth. The countries including, Saudi Arabia, Qatar, South Africa, Egypt, etc., are expanding their industrial applications across oil & gas, chemical and other industries thus, generating an excessive demand for turbine pumps.
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