Centrifugal pump is a machine used to move liquids by the conversion of rotational kinetic energy into hydrodynamics energy of the liquid flow. Centrifugal pump has two main components – a stationary part made up of a casing, its cover, and bearings and rotating system made up of a shaft and an impeller.
Increasing demand for centrifugal pump for domestic water supply and pumping sewage and slurries are major factors driving growth of the global centrifugal pump market over the forecast period. In addition, increasing number of hydrocarbon reserves is another factor expected to propel growth of the global market over the forecast period.
Increasing demand for centrifugal pump from chemical industry for waste water management and water recycling are expected to generate potential revenue opportunity for market players over the forecast period.
The global centrifugal pump market is segmented on the basis of product type, stage, end user, region. On the basis of product type, the target market is segmented into axial, mixed, and radial. Among the product type segments, axial segment accounted for major revenue share in the market, owing to increasing demand for centrifugal pump from oil and gas, power generation, and for waste water management in both developed and developing economies.
On the basis of stage, the market is segmented into single stage and multistage. Among the stage segments, multistage segment accounted for highest revenue share in the market.
On the basis of end user, the market is segmented into water & wastewater, construction, energy & power, food & beverages, and others. Among the end user segments, water & wastewater segment is estimated to have highest revenue share in the target market owing to smooth flow rate, design simplicity, and low maintenance costs.
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Based on the region the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific market accounted for highest share in terms of revenue in the global market, as compared to that of markets in other regions. This can be attributed to growing construction sector in emerging economies such as China and India.
Key players in the global centrifugal pump market include Flowserve Corporation, KSB SE & Co. KGaA, Sulzer Ltd., WILO SE, CIRCOR International, Inc., Kirloskar Brothers Limited, WPIL Ltd., Klaus Union GmbH & Co. KG, Pentair plc, and Atlas Copco AB.