According to the World Health Organization (WHO), approximately half of the world’s population is anticipated to reside in water-stressed areas by the end of 2026. This clearly points towards an incessant rise in water insufficiencies across the globe. Growing water scarcity and water requirements have presented the need for clean water, thus, creating demand for wastewater treatment plants. To this end, the use of centrifugal pumps has surged momentously in water and wastewater treatment application. This is mainly due to centrifugal pumps’ ability to handle large-volume pumping. Considering the need for safe drinking water, governing authorities have framed certain water regulations and standards. Approval grants for sophisticated analytical methods testing water quality have become prevalent. This, in turn, has promoted the development of water and wastewater treatment plants. Such a scenario illustrates favourable growth prospects for the global centrifugal pump market.
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A Steady Rise in Infrastructure and Construction Activities to Uphold Centrifugal Pump Market Growth
Centrifugal pumps are extensively used in the construction sector owing to the provision of energy-efficiency solutions to satiate the growing need for water supply. It effectively fulfils HVAC equipment requirements and averts issues relevant to low pressure. Meanwhile, the growing emphasis on infrastructure sophistication and the surge in construction activities is likely to influence the demand for centrifugal pumps. Also, the consistently rising population and smart city initiatives underway are unveiling new growth prospects for the market. Moreover, the projected rise in investment refurbishment of establishments is further complementing the holistic growth of the centrifugal pump market. Going forward, key players are anticipated to adopt successive merger and acquisition strategies to achieve great feats in the market.
Multi-Stage Pumps to Assist Centrifugal Pump Market Expansion
Diverse functional and operational characteristics of multi-stage pumps have amplified their demand at a broader scale. These pumps curtail the losses due to internal friction, promote swift installation and better-optimized operations, and give greater control. The low footprint, lower running costs, and cost-effectiveness of these pumps are propelling the demand for multi-stage pumps. Multi-stage pumps find their application in high-pressure cleaning, reverse osmosis, irrigation, fuel delivery, mining, and pressuring water to support firefighting. As these pumps comprise smaller impeller diameters and tighter impeller clearances, they are extremely capable of producing higher energy efficiency. That said, an upward shift in demand for multi-stage centrifugal pumps is creating headways for the global centrifugal pump market expansion.
Asia Pacific Most Likely to Retain Dominance in Global Centrifugal Pump Market
Rampant infrastructure development backed by a favourable business environment established Asia Pacific as a dominant region in the global centrifugal pump industry. Processing and manufacturing activities in the region are on an upward trajectory, attracting significant investments to set up manufacturing plants. This development is further facilitated by propitious government support, a growing customer and end-user pool, and lower labour costs. Emerging economies including China, and India are further enhancing growth prospects for the region at the helm of consistent economic growth and increasing demand and sales of centrifugal pumps.
Major Market Players
Some of the highly competitive players in the global centrifugal pump industry include Xylem (United States), Grundfos (Denmark), Flowrox (Finland), KSB Company (Germany), ITT Corporation (United States), Dover Corporation (United States), Wilo Group (Germany), Kirloskar Brothers Limited (India), and The Weir Group PLC (Scotland).
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