Centrifugal Pump Industry Data Book - Radial Flow Pump, Mixed Flow Pump and Axial Flow Pump Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 - 2030
The global Centrifugal Pump Industry was estimated at USD 37.5 billion in 2022 and is anticipated to increase at a significant CAGR from 2023 to 2030.
Grand View Research’s centrifugal pump sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook report and summary presentations on individual areas of research.
Radial Flow Pumps Market Insights
The global radial flow pump market size was estimated at USD 24.4 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 3.6% from 2023 to 2030. The driving factors for the market growth are attributable to the pump's efficiency, versatility, and suitability for a wide range of applications. As industries continue to grow and evolve, the demand for reliable and efficient fluid handling solutions, such as radial flow pumps, remains strong. Government laws that are strict on energy efficiency, safety, and standards are anticipated to have a significant impact on the market. Many government agencies have not only restructured their existing structures but also their current policies. While many established nations have already made investments in the water treatment business, developing nations in Asia Pacific and North America are anticipated to encourage and boost investments in the sector in the years to come.
The U.S. accounted for the largest market share of the total industrial pump market in North America in 2022. According to the CDC 2023 report, CDC calculated the costs incurred by waterborne diseases on the American healthcare system were approximately USD 3.3 billion. Such a high figure highlights the increasing demand for water treatment systems to be installed in hospitals. This has created a need for effective radial flow pumps as these pumps play a crucial role in water treatment processes, including pumping and circulating water in treatment plants, managing sludge, and handling various stages of the treatment cycle. Moreover, increased R&D in ultrafiltration and microfiltration is expected to open new markets for wastewater and water treatment services in the U.S. over the forecast period, thereby fueling the radial flow pumps adoption.
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Mixed Flow Pumps Market Insights
The global mixed flow pump market size was estimated at USD 9.1 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.7% from 2023 to 2030. Mixed flow pumps offer a balance between radial and axial flow pumps, resulting in efficient fluid movement with moderate to high flow rates and head capacities. This efficiency is a significant driver in applications where fluid transport is required across a range of flow rates and pressures.
Strict government laws on energy efficiency, safety, and standards are anticipated to have a significant impact on the market. While many established nations have already made investments in water treatment business, developing nations in Asia Pacific and North America are anticipated to encourage and boost investments in the sector in the coming years.
According to the International Energy Agency (IEA) the U.S. has the third-largest hydropower power generation capacity in the world. An ongoing project, to upgrade the Bad Creek hydro station in South Carolina, U.S., is adding to demand for mixed flow pumps. This upgrade reported by the National Hydropower Association (NHA) in March 2022 is planned to increase the hydropower generation by 280MW. Thereby, it generated growth opportunities for the mixed-flow pumps market, as mixed flow pumps are used in the power generation facilities.
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Centrifugal Pump Industry Data Book Competitive Landscape
The competitive landscape of the centrifugal pump market is characterized by a mix of established global players and regional manufacturers. Several multinational companies dominate the global centrifugal pump industry.
Key players operating in the Centrifugal Pump Industry are:
- Grundfos
- Xylem
- Flowserve
- ITT Corporation
- CIRCOR International
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