Global Centrifugal Pumps Market 2023

Market Overview

The revenue generated from centrifugal pumps experienced a significant recovery in 2023, primarily due to an increase in new order volumes. This surge in demand can be attributed to the higher need for pump replacement and aftermarket services observed among Pump Original Equipment Manufacturers (OEMs) in 2023. The renewal of production activities within process industries played a crucial role in driving this heightened demand. Furthermore, the rebounded activity witnessed in various sectors, such as chemicals, water utility, construction, and power, also contributed to the increased sales of centrifugal pumps. These sectors displayed a notable resurgence, further bolstering the demand for these pumps.

The global centrifugal pumps industry has experienced considerable growth over recent years in all segments in terms of the total revenue. The total market size increased from USD 27,928 million in 2020 to USD 33,348 million in 2023, representing a CAGR of 6.1% during the period. As the industry recovers from the COVID-19 pandemic and continues to grow, the market size of the global centrifugal pumps is forecasted to increase to USD 41,794 million in 2028, representing a CAGR of 4.6% from 2023 to 2028.

The single-stage pumps segment dominated the market studied in 2022. The valuation of the single-stage pumps segment in 2022 was USD 10,441 million, and it is projected to reach USD 14,226 million by 2028. On the other hand, the screw pumps segment is anticipated to exhibit the highest compound annual growth rate (CAGR) during the forecast period from 2023 to 2028.

The centrifugal pumps market can be categorized into seven applications: water utility, petrochemical, energy, food & beverage, healthcare, power generation, and others. The water utility segment is projected to reach a revenue of USD 10,796 million by 2028. Two key factors drive the demand for centrifugal pumps. Firstly, infrastructure upgradation initiatives in the water utilities sector are increasing the need for these pumps. Secondly, service-based business models utilizing digitalization and IIoT technologies are gaining prominence, enhancing pump reliability and minimizing downtime.

Global pump market is dominated by several industry players, including Flowserve Corp., Sulzer AG, KSB SE & Co. KGaA, Xylem, Inc., Grundfos AS, ITT, Inc., IDEX Corporation, Dover Corporation, Ebara Corporation, SPX Flow, Inc., Ingersoll Rand Inc., among others. These companies offer diverse solutions to meet the varied needs of clients across the world while trying to reinforce their positions in this dynamic business landscape.

Table of Contents

TABLE OF CONTENTS
TABLE OF CONTENTS 1
FIGURES AND TABLES 4
Part 1. Key Findings 7
Part 2. Scope and Methodology 8
Report Scope 9
Product Type 9
Application 9
Region 9
Research Methodology 10
Part 3. Centrifugal Pumps Market Overview 12
Summary 12
Part 4. Market Dynamics 15
Key Factors Shaping the Global Pumps Market 15
Growth Drivers 27
Future Trends 28
Opportunities 31
Part 5. Global Centrifugal Pumps Market by Type 42
Part 6. Global Centrifugal Pumps Market by Application 44
Part 7. Global Centrifugal Pumps Market by Region 51
Part 8. North America Centrifugal Pumps Market 54
Market Overview 56
Market by Centrifugal Pumps Type 57
Market by Country 59
Part 9. Europe Centrifugal Pumps Market 60
Market Overview 62
Market by Centrifugal Pumps Type 63
Market by Country 65
Part 10. Asia Pacific Centrifugal Pumps Market 66
Market Overview 68
Market by Centrifugal Pumps Type 69
Market by Country 71
Part 11. Latin America Centrifugal Pumps Market 72
Market Overview 74
Market by Centrifugal Pumps Type 75
Market by Country 77
Part 12. Middle East and Africa (MEA) Centrifugal Pumps Market 78
Market Overview 80
Market by Centrifugal Pumps Type 81
Market by Region 83
Part 13. Competitive Analysis 84
Competition Overview 84
Recent Developments 87
Flowserve Corporation 90
Business Overview 90
Contact Information 93
Sulzer AG 94
Business Overview 94
Contact Information 97
KSB SE & Co. KGaA 98
Business Overview 98
Contact Information 101
Xylem, Inc. 102
Business Overview 102
Contact Information 106
Grundfos AS 107
Business Overview 107
Contact Information 109
ITT, Inc. 110
Business Overview 110
Contact Information 113
IDEX Corporation 114
Business Overview 114
Contact Information 117
Dover Corporation 118
Business Overview 118
Contact Information 121
Ebara Corporation 122
Business Overview 122
Contact Information 125
SPX Flow, Inc. 126
Business Overview 126
Contact Information 126
Ingersoll Rand Inc. 127
Business Overview 127
Contact Information 130
Part 14. Prospects 131
Disclaimer 145
FIGURES AND TABLES
Global Centrifugal Pumps Market, Net Growth, 2020-2028 (USD Million)
Global Centrifugal Pumps Market by Type, 2020-2028 (USD Million)
Global Centrifugal Pumps Market by Type, CAGR Historic and Forecast, 2020-2028
Global Centrifugal Pumps Market by Application, 2020-2028 (USD Million)
Global Centrifugal Pumps Market by Application, CAGR Historic and Forecast, 2020-2028
Global Centrifugal Pumps Market Share by Region, 2022
Global Centrifugal Pumps Market by Region, 2020-2028 (USD Million)
Global Centrifugal Pumps Market by Region, CAGR Historic and Forecast, 2020-2028
North America Centrifugal Pumps Market, Net Growth, 2020-2028 (USD Million)
North America Centrifugal Pumps Market by Type, 2020-2028 (USD Million)
North America Centrifugal Pumps Market by Type, CAGR Historic and Forecast, 2020-2028
North America Centrifugal Pumps Market Share by Country, 2022
Europe Centrifugal Pumps Market, Net Growth, 2020-2028 (USD Million)
Europe Centrifugal Pumps Market by Type, 2020-2028 (USD Million)
Europe Centrifugal Pumps Market by Type, CAGR Historic and Forecast, 2020-2028
Europe Centrifugal Pumps Market Share by Country, 2022
Asia Pacific Centrifugal Pumps Market, Net Growth, 2020-2028 (USD Million)
Asia Pacific Centrifugal Pumps Market by Type, 2020-2028 (USD Million)
Asia Pacific Centrifugal Pumps Market by Type, CAGR Historic and Forecast, 2020-2028
Asia-Pacific Centrifugal Pumps Market Share by Country, 2022
Latin America Centrifugal Pumps Market, Net Growth, 2020-2028 (USD Million)
Latin America Centrifugal Pumps Market by Type, 2020-2028 (USD Million)
Latin America Centrifugal Pumps Market by Type, CAGR Historic and Forecast, 2020-2028
Latin America Centrifugal Pumps Market Share by Country, 2022
Middle East and Africa (MEA) Centrifugal Pumps Market, Net Growth, 2020-2028 (USD Million)
Middle East and Africa (MEA) Centrifugal Pumps Market by Type, 2020-2028 (USD Million)
Middle East and Africa (MEA) Centrifugal Pumps Market by Type, CAGR Historic and Forecast, 2020-2028
Middle East and Africa Centrifugal Pumps Market Share by Region, 2022
Global Pumps Market Share, by Top Company, 2022
Flowserve Corporation Financial Overview (USD Million)
Flowserve Corporation Revenue, by Type, 2022
Flowserve Corporation Revenue, by Segment, 2022
Flowserve Corporation Revenue, by Region, 2022
Sulzer AG Financial Overview (CHF Million)
Sulzer AG Revenue, by Segment, 2022
Sulzer AG Revenue, by Region, 2022
Sulzer AG Revenue, by Country, 2022
KSB SE & Co. KGaA Pumps Segment Revenue (EUR Million)
KSB SE & Co. KGaA Financial Overview (EUR Million)
KSB SE & Co. KGaA Revenue, by Segment, 2022
KSB SE & Co. KGaA Revenue, by Type, 2022
Xylem, Inc. Pumps, Accessories, Parts and Service Revenue (USD Million)
Xylem, Inc. Financial Overview (USD Million)
Xylem, Inc. Revenue, by Segment, 2022
Xylem, Inc. Revenue, by Type, 2022
Xylem, Inc. Revenue, by Region, 2022
Grundfos AS Financial Overview (DKK Million)
Grundfos AS Revenue, by Divisions, 2022
Grundfos AS Revenue, by Region, 2022
ITT, Inc. Chemical and Industrial Pumps Revenue (USD Million)
ITT, Inc. Financial Overview (USD Million)
ITT, Inc. Revenue, by Segment, 2022
ITT, Inc. Revenue, by Industry, 2022
ITT, Inc. Revenue, by Region, 2022
IDEX Corporation Pumps Revenue (USD Million)
IDEX Corporation Financial Overview (USD Million)
IDEX Corporation Revenue, by Segment, 2022
IDEX Corporation Revenue, by Region, 2022
Dover Corporation Pumps & Process Solutions Revenue (USD Million)
Dover Corporation Financial Overview (USD Million)
Dover Corporation Revenue, by Segment, 2022
Dover Corporation Revenue, by Region, 2022
Ebara Corporation Pumps Revenue (JPY Billion)
Ebara Corporation Financial Overview (JPY Million)
Ebara Corporation Revenue, by Service and Support (S&S) Revenue Ratio, 2022
Ebara Corporation Revenue, by Segment, 2022
Ebara Corporation Revenue, by Region, 2022
Ingersoll Rand Inc. Financial Overview (USD Million)
Ingersoll Rand Inc. Revenue, by Segment, 2022
Ingersoll Rand Inc. Revenue, by Product Categories, 2022
Ingersoll Rand Inc. Revenue, by Region, 2022