Centrifugal Pump Market Size Worth Over US$ 53.1 Billion by 2028 and rising at a market growth of 5.7% CAGR during| Share, Trending, Industry Demand, Trends the forecast period Reports and Insights

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The report is titled ‘Centrifugal Pump Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the centrifugal pump market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The centrifugal pump market is expected to grow at a significant rate in the near future.

The global centrifugal pump market was valued US$ 34.1 Bn at the end of 2020 and expected to reach at a value of US$ 53.1 Bn by 2028 with a significant CAGR of 5.7%

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Centrifugal Pump Introduction

Centrifugal pump can be perceived as a mechanized device intended to stir and drive a fluid by way of the transference of rotatory force from a single or more than one driven rotors, known as impellers. The fluid embarks the briskly spinning impeller past its pivot and is tossed out by centrifugal force past its periphery through the impeller’s blade tips. The movement of the impeller escalates the fluid’s pressure and velocity and also leads it around the pump output. The pump sheath is particularly designed to compress the fluid from the pump intake, lead it into the impeller and further slow it down and regulate the fluid before release.

Centrifugal Pump Market Dynamics

The centrifugal pumps majorly finds application in moving fluids like water or any other fluids, and thus it serves great utility in water and wastewater management industries, chemical, oil & gas and other industries across the world, which primarily boosts the growth of the global centrifugal pump market.

Additionally, the higher investments in wastewater treatment plants and systems is also playing a positive role in accelerating the growth of the global centrifugal pump market.

By the same token, the swiftly evolving industrial, commercial as well as residential infrastructure further stimulates the demand of centrifugal pumps for several different uses. Owing to which, the global centrifugal pump market is expected to develop substantially over the forthcoming years.

Also, in present times, the revolutionizing manufacturing sector associated with various industry vertices posing huge demand for centrifugal pumps is also majorly expected to propel the growth of the global centrifugal pump market in the years to come.

However, the sluggish growth of the oil & gas industry in the current times, owing to the decreased investments in new projects as well as termination or annulment of existing projects, is likely to hold back the growth of the global centrifugal pump market over the coming years.

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Centrifugal Pump Market Segmentation

The global centrifugal pump market is segmented on the basis of pump type, stage, end-use and regions. On the basis of pump type, the centrifugal pump market is segmented into overhung impeller, vertically suspended, and between bearings. On the basis of stage, the market is categorized into Single Stage and Multistage. On the basis of end-user, the market is divided into industrial, commercial and residential.

The research report classifies the global centrifugal pump market based on pump type, stage, end-use, and regions.

By Pump Type

  • Overhung Impeller
  • Vertically Suspended
  • Between Bearing

By Stage

  • Single Stage
  • Multistage

By End User

  • Industrial
  • Commercial and Residential

By Region

  • North America
  • Latin America
  • Africa
  • Europe
  • Asia Pacific
  • Middle East

Centrifugal Pump Market Key Players

Key participating players in global centrifugal pump market are Grundfos, Xylem, KSB, Flowserve, Sulzer,  Wilo, Weir, ITT Corporation, CIRCOR International, Baker Hughes, Gardner Denver, Pentair, Ebara Corporation, Kirloskar Brothers Limited, Tsurumi Manufacturing, Leo, HCP Pump, Proril, CNP Pumps, PSP Pumps, Zhejiang Doyin Technology, Alfa Laval, SPT Pumpen, Grindex, Xavitech, Vansan, Griswold (A PSG Dover Company), Schlumberger, Mody Pumps, and WEG.

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