The centrifugal pump market is estimated to be valued at USD 39.11 billion in 2024 and is expected to reach USD 57.41 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.

Report Description:

Centrifugal pumps are mechanical devices that move fluids (liquids or gases) through the use of rotational energy. They work by converting rotational kinetic energy, imparted by a motor or turbine, into the hydrodynamic energy of the moving fluid. The main components of a centrifugal pump consist of an impeller fixed on a rotating shaft inside a casing. As the impeller rotates, it accelerates the fluid outward using centrifugal force. The fluid then exits the pump impeller region through a diffuser or volute chamber where the kinetic energy is converted into pressure energy. Centrifugal pumps are used extensively in the industrial, agricultural, and municipal applications. Some common uses include water and wastewater treatment, petrochemical processing, power generation, irrigation, marine applications, and transferring various liquids in manufacturing industries.

Market Dynamics:

The global centrifugal pump market is projected to witness significant growth over the forecast period owing to rising industrial and infrastructure development activities. The growing demand from end-use industries such as water and wastewater treatment, chemical, oil & gas, and power generation is expected to boost market revenues. In the oil & gas industry, centrifugal pumps are required for pumping a variety of fluids including crude oil, liquefied natural gas, liquefied petroleum gas, and refined products. Increasing oil production and construction of new refineries and pipelines will thus spur the pump demand. Moreover, stringent environmental regulations regarding industrial wastewater disposal are forcing companies to invest in advanced water treatment facilities, thereby driving the pump consumption. However, high initial costs associated with centrifugal pumps may hinder the market growth to some extent. Ongoing research towards the development of energy-efficient and corrosion-resistant models presents bright prospects for market players.

Key features of the study:

• This report provides an in-depth analysis of the global centrifugal pump market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global centrifugal pump market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include CP Pumpen AG, DESMI A/S, Ebara Corporation, Flowserve Corporation, Grundfos, HERMETIC-Pumpen GmbH, HOMA Pumpenfabrik GmbH, Kirloskar Brothers Ltd., Klaus Union GmbH & Co. KG, KSB Group, Ruhrpumpen Group, Shakti Pump, Speck Pumpen Walter Speck GmbH & Co. KG, Sulzer AG, Toyo Denki Industrial Co. Ltd., Tsurumi Manufacturing Co., Ltd., Wier Group, WILO SE, WPIL Limited, and Xylem Inc.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global centrifugal pump market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global centrifugal pump market.

Market Segmentation

• Product Type
  • Single-stage Pump
  • Multi-stage Pump
  • Axial & Mixed Flow Pump
  • Submersible Pump
  • Sealless & Circulator Pumps
• Capacity (hp) 
  • Small
  • Medium
  • High
• End-use Industry 
  • Industrial
    • Chemicals
    • Water & Wastewater Treatment
    • Power
    • Oil & Gas
    • Pharmaceuticals
    • Food & Beverages
    • Others
  • Agricultural
  • Domestic
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Key Players Insights
  • CP Pumpen AG
  • DESMI A/S
  • Ebara Corporation
  • Flowserve Corporation
  • Grundfos
  • HERMETIC-Pumpen GmbH
  • HOMA Pumpenfabrik GmbH
  • Kirloskar Brothers Ltd.
  • Klaus Union GmbH & Co. KG
  • KSB Group
  • Ruhrpumpen Group
  • Shakti Pump
  • Speck Pumpen Walter Speck GmbH & Co. KG
  • Sulzer AG
  • Toyo Denki Industrial Co. Ltd.
  • Tsurumi Manufacturing Co., Ltd.
  • Wier Group
  • WILO SE
  • WPIL Limited
  • Xylem Inc.