Centrifugal Pump Market Projected to Garner Significant Revenues by 2028

Centrifugal Pump Market report also provide a thorough understanding of the cutting-edge competitive analysis of the emerging market trends along with the drivers, restraints, challenges, and opportunities in the Centrifugal Pump market to offer worthwhile insights and current scenario for making right decision. The report covers the prominent players in the market with detailed SWOT analysis, financial overview, and key developments of the products/services from the past three years. Moreover, the report also offers a 360º outlook of the market through the competitive landscape of the global industry player and helps the companies to garner Centrifugal Pump market revenue by understanding the strategic growth approaches.

An exclusive Centrifugal Pump market research report provides depth analysis of the market dynamics across five regions such as North America, Europe, South America, Asia-Pacific, Middle East and Africa. The segmentation of the market by type, application, and region was done based on the thorough market analysis and validation through extensive primary inputs from industry experts, key opinion leaders of companies, and stakeholders) and secondary research (global/regional associations, trade journals, technical white papers, company’s website, annual report SEC filing, and paid databases). Further, the market has been estimated by utilizing various research methodologies and internal statistical model.

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Companies Mentioned:

  • Grundfos Holding A/S
  • KSB SE & Co. KGaA
  • Sulzer Ltd
  • The Weir Group PLC
  • Tsurumi Manufacturing Co., Ltd.
  • Xylem Inc.

Steady growth of the global economy has propelled industrialization and urbanization in the past few decades, which has subsequently favored the growth of construction industry. Western Europe has matured residential construction and nonresidential construction industries, and these industries are growing at a steady pace in the Eastern Europe. Moreover, governments of European countries are emphasizing on the deployment of transport infrastructure projects. For instance, the Brenner Base Tunnel project, a new 55-kilometer-long German-Austrian railway line in the Eastern part of Alps, is scheduled for completion by 2028. Further, the world’s longest immersed rail and road tunnel between Germany and Denmark, which it would be built by Femern A/S, received an approval in 2020. The construction of the Ceneri Base Rail Tunnel, which is anticipated to connect the Mediterranean and the North Sea in future, was completed in September 2020. In April 2020, RZD International completed the Cortanovci railway tunnel and viaduct in Serbia. Thus, the continuous rise in these projects is bolstering the demand for centrifugal pumps.

Rising awareness among masses about the long-term effects of pesticides and fertilizers used in agricultural practices has triggered the demand for organic food produce. Modern farming methods such as hydroponics and vertical farming use controlled indoor environment, and they can be employed to grow vegetables and fruits organically, without the use of pesticides and fertilizers. Centrifugal pumps are widely used for circulating water in fields. Moreover, these techniques allow producers to adopt organic farming practices as well as to ensure optimum utilization of limited space. Thus, the increasing adoption of modern farming practices owing to growing demand for organic food is projected to generate ample growth opportunities for the centrifugal pumps market players.

Based on stage, the centrifugal pump market is segmented into single stage and multistage. The surface single stage segment led the centrifugal pump market in 2020. Single-stage centrifugal pumps comprise a single impeller rotating on the shaft, with the housing of pump, designed to facilitate fluid flow when driven by motor. The single-stage design is the simplest architecture, and these pumps are available in single- or double-suction designs. The single-stage centrifugal pumps are used for the pumping of low to medium total dynamic heads (TDHs). The impellers of single-stage centrifugal pumps are designed to handle dirty, clean, and solid-laden liquid substances; moreover, these pumps are provided with several types of mechanical seals for expanding their application range. The single-stage centrifugal pumps are widely accepted pumps due to their high reliability, which is the major factor driving the market growth of this segment.

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