Throughout Europe, there are several undeveloped oil and gas reserves that are projected to draw fresh investment. Aside from that, manufacturing, engineering, and construction (EPC) are important end-use industries driving demand for centrifugal pumps in the area. Low-cost products given by Chinese pump manufacturers are projected to limit the global centrifugal pump market's growth over the forecast period. Throughout the projected period, the worldwide centrifugal pump market is likely to be hampered by low replacement rates and low energy efficiency.
According to Coherent Market Insights, the global Centrifugal pump Market is estimated to account for US$ 58,378.6 Mn in terms of value by the end of 2030.
Key Companies in the Centrifugal Pump Industry:
1. ITT Corporation
ITT Inc. manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets worldwide. The company operates in three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. ITT Inc. was incorporated in 1920 and is headquartered in Stamford, Connecticut. On August 10, 2022 ITT Inc. announced it acquired Clippard Instrument Laboratories' product lines of durable, low maintenance, and cost competitive interchangeable pneumatic cylinders. The product lines include stainless steel, brass and aluminum cylinders and volume tanks.
2. Ruhrpumpen Group
Ruhrpumpen is part of the group Corporación EG, which began manufacturing operations in 1979. The company started as a small machine shop with state of the art technology since day one. Through capital investments, acquisition, product development and strong focus on customer needs, the company has become a global supplier of centrifugal pumps. The company is headquartered in Mexico.
3. Xylem Inc.
Xylem Inc., together with its subsidiaries, engages in the design, manufacture, and servicing of engineered products and solutions for the water and wastewater applications in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: Water Infrastructure, Applied Water, and Measurement & Control Solutions. Xylem Inc. was incorporated in 2011 and is headquartered in Washington, District of Columbia. In 2021, Xylem, a leading water technology company, announced a partnership with ESRI, a geographic information system Software Company. Working together, the two companies follow joint marketing, joint technical road mapping, collaborative selling, and solution development.
4. Flowserve Corporation
Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. It operates in two segments, Flowserve Pump Division (FPD) and Flow Control Division (FCD). Flowserve Corporation was incorporated in 1912 and is headquartered in Irving, Texas.
5. Wilo SE
Novmeber 16, 2021 Wilo, one of the world’s leading manufacturers of pumps and pump systems, and recipient of the renowned German Sustainability Award for climate transformation, and Schneider Electric, the global leader in the digital transformation of energy management and automation that was recognized as the world’s most sustainable corporation in 2021 by the Corporate Knights Global 100 Index, announced that the companies have partnered to advance Wilo’s climate strategy in anticipation of achieving net-zero emissions by 2050. The company was founded in 1872, headquartered in Germany. In November 2020, Wilo SE manufacturer of pumps and pump systems expanded its footprint by establishing a new headquarter and production plant in Cedarburg, Wisconsin, US. The new headquarters carried out the joint operations of Wilo Machine Co., Wilo USA, Scot Pump, and Weli Pump in a single manufacturing plant
6. Sulzer AG
Sulzer Ltd develops and sells products and services for fluid engineering and chemical processing applications worldwide. The company operates in Flow Equipment, Services, Chemtech, and Others segments. Sulzer Ltd was founded in 1834 and is headquartered in Winterthur, Switzerland. In March 2021, Sulzer, a manufacturer of pumps and pump systems expanded its footprint in Denmark by building a new service center that offers its full range of product sales and maintenance services throughout the region under one roof.
7. Weir Group plc
The Weir Group PLC produces and sells highly engineered original equipment worldwide. It operates in two segments, Minerals and ESCO. The Minerals segment offers slurry handling equipment and associated aftermarket support services for abrasive high-wear applications used in the mining and oil sands markets. The company offers its products under the Accumin, Aspir, Cavex, Delta Industrial, Enduron, Envirotech, Floway, GEHO, Gemex, Hazleton, Hydrau-Flo, R. Wales, Isodry, Isogate, Lewis, Linatex, Multiflo, Synertrex, Stampede, Trio, Vulco, FusionCast, ESCO, Motion Metrics, and Warman brands. The company was founded in 1871 and is headquartered in Glasgow, the United Kingdom. On October 2020, Caterpillar Inc has signed an agreement to acquire the Oil & Gas Division (“Weir Oil & Gas”) of the Weir Group PLC, a Scotland-based global engineering business.
8. Ebara Corporation
Ebara Corporation manufactures and sells industrial machinery. It operates through Fluid Machinery & Systems Business, Environmental Plants Business, and Precision Machinery Business segments. Ebara Corporation was founded in 1912 and is headquartered in Tokyo, Japan.
9. Grundfos AG
Grundfos is a pump manufacturer, based in Denmark on Oct. 4, Grundfos, announced the next generation of small circulators for the residential heating market with the introduction of the Grundfos Digital NEXT range — starting with the UPSe 15-58 in late 2022, followed by the release of the new, digital ALPHA 15-58 in early 2023. The company was founded in 1945.
*Definition- A centrifugal pump is a mechanical device used to move and transfer oil from various end-use industries. The centrifugal pump is most commonly employed in industrial, residential, and agricultural applications
