CENTRIFUGAL PUMP MARKET ANALYSIS | COHERENT MARKET INSIGHTS

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• Coherent Market Insights
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CENTRIFUGAL PUMP MARKET ANALYSIS

• Centrifugal Pump Market, By Product Type
  (Single-stage Pump, Multi-stage Pump, Axial
  Mixed Flow Pump, Submersible Pump and Sealless
  Circulator Pumps), By Capacity(HP) (High, Medium
  and Low), By End Use (Industrial (Chemicals,
  Water Wastewater Treatment, Power, Oil Gas,
  Pharmaceuticals, Food Beverages and Others),
  Agricultural and Domestic) and by Region (North
  America, Europe, Asia Pacific, RoW) - Size,
  Share, Outlook, and Opportunity Analysis, 2020
  2027
• The global centrifugal pump market was valued at
  US 36,700 Mn in 2019 and is forecast to reach a
  value of US 52,918 Mn by 2027 at a CAGR of 4.7
  between 2020 and 2027.

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Market Drivers

• Growing infrastructure development worldwide is
  expected to drive growth of the global
  Centrifugal Pump Market during the forecast
  period The demand for centrifugal pumps has
  increased significantly in the recent past, owing
  to rising infrastructure development across the
  globe. Governments of developing countries such
  as China and India are focusing on urbanization,
  which in turn, is expected to fuel demand for
  centrifugal pumps, particularly in domestic,
  Water wastewater treatment industries. Thus,
  these factors are expected to drive growth of the
  global centrifugal pump market during the
  forecast period. For instance, in 2015, the
  Government of China targeted urban wastewater
  infrastructure investments of around US 60 Bn.

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• Rising demand from SMEs and process industries is
  expected to propel the global centrifugal pump
  market growth over the forecast period
  Centrifugal pumps have witnessed massive demand
  from process industries, especially in pulp,
  chemical, paper, and food and beverage
  industries. Furthermore, increasing demand for
  energy-efficient manufacturing operations in
  developed countries is expected to boost
  expenditure on new pumping equipment, thereby
  driving demand for a centrifugal pump. Moreover,
  this demand is typically witnessed by SMEs in
  emerging economies such as India and China.
  Therefore, these factors are expected to propel
  the global centrifugal pump market growth in

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• APAC held dominant position in the global
  centrifugal pump market in 2019, accounting
  for 33.4 share in terms of value, followed by
  Europe, North America and RoW respectively.
• Figure 1 Global Centrifugal Pump Market Share
  (), in terms of Value, By Region, 2019

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Market Restraint

• Low-cost products offered by China-based pump
  manufacturers is expected to restrain growth of
  the global centrifugal pump market during the
  forecast period China-based pump manufacturers
  are offering products at competitive prices.
  Increasing price pressure from these players is
  influencing key suppliers to offer high-quality,
  reliable, efficient, and technologically-advanced
  centrifugal pumps at competitive prices. Presence
  of these products is reducing market share of
  other manufacturers present in the market.
  Therefore, these factors are expected to restrain
  growth of the global centrifugal pump market
  during the forecast period. For instance, Chinese
  players sell centrifugal pumps at 25 to 30
  lower prices as compared to global and regional
  brands.

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• Low rate of replacement and energy-efficiency is
  expected to hinder the global centrifugal pump
  market growth over the forecast period
• Products are available in the market offer low
  energy efficiency. There is a constant need for
  research and development activities, in order to
  expand product efficiency. Moreover, centrifugal
  pumps have low replacement rate, which in turn,
  is expected to hinder the global centrifugal
  market growth in the near future. For instance,
  most manufacturers spend around 2 of their
  overall revenue on RD of new technology and pump
  types, mainly focusing on pumps to be more
  energy-efficient and have a long operating life.

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Market Opportunities

• Optimizing centrifugal pumping system and
  production speed can present lucrative growth
  opportunities
• Majority of centrifugal pump manufacturers are
  focused on the optimization of centrifugal
  pumping systems and increasing production speed.
  Pump manufacturers can a wide range of products
  in their portfolio with customization. Since
  customer requirements are moving towards niche
  applications from general, manufacturers are
  providing custom-made products. Manufacturers can
  capitalize on the opportunity of optimizing the
  speed of large centrifugal pumps, which can save
  energy and reduce wear and tear of centrifugal
  pumps.

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• Rising focus on pump life cycle cost can provide
  major business opportunities
• Manufacturers are required to evaluate life
  cycle costs and allow smart buying decisions for
  customers. Centrifugal pump industry players need
  to analyze the cost of energy and the return of
  investment for centrifugal pumps rather than
  concentrating on buying and installation costs.
  According to Coherent Market Insights analysis,
  buying and installation cost accounts for 18 of
  the total unit cost, while operation and
  lifecycle cost represents the remaining 80 of
  the overall centrifugal pump cost.

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Figure 2 Global Centrifugal Pump Market Value
(US Mn), 2017 2027
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Market Trends

• Constant consolidation by market players is a
  major trend Key players operating in the
  market are focused on mergers and acquisitions,
  in order to gain a competitive edge in the
  market. For instance, in May 2015, WPIL Ltd.
  acquired Gruppo Aturia and its subsidiaries
  France-based Pompes Rutschi SAS and
  Switzerland-based Rutschi Fluid AG. Moreover, in
  July 2015, Sulzer Ltd. acquired Expert
  International Pompe Service (EIPS), which offers
  maintenance and repair services for pumps in
  Casablanca, Morocco. In December 2015, Ebara
  Corporation acquired Brazil-based pump
  manufacturer Thebe Bombas Hydraulicas SA.
• Rising adoption of micro-disc pumping and
  variable frequency drive technology Micro disc
  pumping technology enables manufacturers to
  create small-size and energy-efficient
  centrifugal pumps. With the ongoing trends such
  as size reduction, portability, and variable
  frequency drive operation, demand for small,
  silent, energy-efficient and high-performance
  centrifugal pumps is gaining traction. Micro disc
  pumps are already being used in pharmaceuticals
  and medical applications such as for blood
  pressure measurement.

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Competitive Section

• Major companies operating in the global
  centrifugal pump market are ITT Corporation,
  Ruhrpumpen Group, KSB AG, Xylem Inc., Flowserve
  Corporation, Wilo SE, Sulzer AG, Weir Group plc,
  Ebara Corporation, and Grundfos AG

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Global Centrifugal Pump Market - Impact of
Coronavirus (Covid-19) Pandemic

• Due to Covid-19 pandemic, many industries
  witnessed significant shift in their business.
  There is significant impact on centrifugal pump
  market, as these centrifugal pumps are used in
  oil gas industries. Due to lockdown imposed by
  countries, the demand and price of the crude oil
  has fallen. For instance, in March 2020, in US
  the price of the crude oil has decreased from US
  61.06 to 23.36. Additionally, every country has
  banned international and domestic travel, due to
  this there is had huge drop in the consumption of
  Aviation Turbine Fuel (ATF) across the globe. All
  these factors have significant impact on
  Centrifugal pump market and there is huge drop in
  the demand of centrifugal pumps.

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Key Developments

• Key market players are focused on mergers and
  acquisitions, in order to gain a competitive edge
  in the market. For instance, in February 2019,
  ITT Corporation acquired Rheinhütte Pumpen Group,
  a designer of centrifugal pump from Aliaxis Group
  SA.
• Major companies are involved in partnerships and
  collaborations, in order to enhance the market
  presence. For instance, in February 2019,
  Ruhrpumpen Group, a pump supplier, partnered with
  Wolong Electric, an electric motor manufacturer,
  to supply API 610 barrel-casing pumps to Missan
  Oil Company.

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