Centrifugal Pump Market worth 36.98 Bn USD by 2022

The report, now available on ASDReports, "Centrifugal Pump Market by Type (Overhung Impeller, Vertically Suspended, and between Bearing), Stage (Single Stage, Multistage), End-User (Water and Wastewater, Chemicals, Oil & Gas, Power, Commercial and Residential), and Region - Global Forecast to 2022", The centrifugal pump market is expected to grow from an estimated USD 30.65 billion in 2017 to USD 36.98 billion by 2022, at a CAGR of 3.83%, during the forecast period. The market is set to witness growth due to increasing investments in infrastructure development and rising demand from the industrial sector.

The single stage centrifugal pump market is expected to be the largest centrifugal pump market, by stage, in 2017.
The single stage pump segment is expected to be the largest segment of the centrifugal pump market, by stage, in 2017. These pumps are widely used in the industrial sector as they can handle large flow volumes of fluids. Increased investments in infrastructure and solar power plants and the growing household sector in developing countries are the key drivers of the single stage centrifugal pump market.

The vertically suspended centrifugal pump market is expected to be the second-largest centrifugal pump market, by type, during the forecast period.
Vertically suspended pumps are self-priming and use 75% less floor space than horizontal pumps with electric motor drives. An increase in the demand for multistage pumps with high pressure in high rise commercial buildings, the petroleum, oil & gas, and industry process services, and cooling power systems are the major factors driving the market for vertically suspended pumps.

Europe: Key market for centrifugal pumps during the forecast period.
In this report, the centrifugal pump market has been analyzed with respect to 6 regions, namely, Asia Pacific, Europe, North America, South America, the Middle East, and Africa. Europe is expected to be the second-largest centrifugal pump market, by region, during the forecast period. The increased demand from the water and wastewater sector, moderate demand from the construction and mining sectors, the growing awareness of energy savings, high per capita income, and supportive government plans are expected to drive the market for centrifugal pumps in this region. Germany, Russia, and the UK are the leading countries which will contribute to the growth of the centrifugal pump market in Europe.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the centrifugal pump market such as ITT (US), Flowserve (US), KSB (Germany), Sulzer (Switzerland), Grundfos (Denmark), and Ebara (Japan).

Read more on ASDReports!