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The Centrifugal Pump Market size is projected to reach US$ 55.58 billion by 2031 from US$ 38.29 billion in 2024. The market is expected to register a CAGR of 5.7% during 2025–2031.
Centrifugal Pump Market Analysis
Centrifugal pumps convert rotational kinetic energy into hydrodynamic energy for fluid transfer. These pumps are used in sectors such as agriculture, water and wastewater, chemicals, oil & gas, and construction. Increased infrastructure development and demand for water treatment solutions are major growth forces.
Centrifugal Pump Market Overview
Centrifugal pumps are central to fluid-handling infrastructure across industries. They are a critical link connecting industrial processes and municipal water systems. Key design types include single-stage and multistage pumps, with further distinctions by impeller type (radial, axial, overhung impeller, between-bearing), and flow categories.
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Centrifugal Pump Market: Strategic Insights
Market Size Value in US$ 25,154.3 Million in 2021 Market Size Value by US$ 36,879.0 Million by 2028 Growth rate CAGR of 5.6% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Centrifugal Pump Market Drivers and Opportunities
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Centrifugal Pump Market: Strategic Insights
| Market Size Value in | US$ 25,154.3 Million in 2021 |
| Market Size Value by | US$ 36,879.0 Million by 2028 |
| Growth rate | CAGR of 5.6% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Market Drivers:
Infrastructure & industrialization growth:
Rising urbanization, construction, and manufacturing expansion drive demand in water, oil & gas, and power sectors.Water & wastewater needs:
Investment in sanitation and clean water systems, especially under goals such as UN SDG 6, fuels growth.Energy-efficiency focus:
As online fraud and cyberattacks grow, businesses and customers demand secure payment systems that protect their data and stop fraud.Agricultural expansion:
Subsidies for solar water pumps and irrigation drive rural deployment across Asia and Africa.Industry-specific infrastructure investments:
Rising demand in the chemical, pharmaceuticals, and oil & gas sectors.
Market Opportunities:
Rollout of Smart Pump Systems:
Smart pumps with real-time monitoring, predictive maintenance, and digital twins enhance operational efficiency, reduce downtime, and support remote diagnostics, driven by Industry 4.0, industrial IoT adoption, and growing automation needs.Adoption of Sustainable and Green Engineering Pumps:
Eco-friendly pumps lower energy consumption and emissions, aligning with global environmental mandates and sustainability goals. Industries adopt energy-efficient technologies to meet regulatory compliance and enhance ESG performance.Demand for Customizable and Modular Pumps:
Pharmaceutical and chemical industries favor modular pump designs for scalability, material compatibility, and process flexibility. Customization ensures efficient integration, faster deployment, and tailored performance in complex or regulated applications.Expansion into Emerging Regions:
Emerging markets in Asia-Pacific, Latin America, and MEA present growth opportunities due to rising urbanization and demand for modern water, wastewater, and industrial infrastructure amid inadequate legacy systems.
Centrifugal Pump Market Report Segmentation Analysis
The Centrifugal Pump Market is divided into different segments to give a clearer view of how it works, its growth potential, and the latest trends. Below is the standard segmentation approach used in most industry reports:
By Stage:
Single-stage:
Single-stage pumps dominate the global centrifugal pump market, accounting for the majority of the share in 2024. These pumps are favored for their simple design, low initial cost, and ease of maintenance. They are suitable for applications requiring moderate flow and pressure, such as agriculture, water supply, and light industrial tasks.Multistage:
While more complex, multistage pumps are essential in high-pressure applications, such as boiler feed, deep well pumping, and oil & gas operations. Their use is rising steadily, particularly in power generation, mining, and infrastructure projects.
By Design:
Radial Flow Pumps:
These are the most common centrifugal pump types, where the fluid is discharged perpendicular to the shaft. They are widely used in industrial, municipal, and commercial applications, especially for high-pressure, low-flow conditions.
Mixed Flow Pumps:
These pumps combine radial and axial flow characteristics, offering moderate head and flow. They are ideal for irrigation, flood control, and cooling water systems.
Axial Flow Pumps:
Designed to move large volumes of water at low heads, these are used in drainage, circulation, and marine applications. With increasing focus on wastewater and flood management, demand for axial flow pumps is growing, especially in APAC.
By Operation Type:
- Electric
- Hydraulic
- Air Driven
By Type:
- Overhung Impeller
- Vertically Suspended
- Between Bearing
By End User:
- Industrial
- Residential
- Agriculture
- Commercial
By Geography:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Centrifugal Pump Market Report ScopeCentrifugal Pump Market Share Analysis by Geography
Asia Pacific is witnessing significant growth, driven by rapid industrialization, agricultural expansion, and infrastructure projects. Emerging markets in Latin America, the Middle East, and Africa have many untapped opportunities for centrifugal pump providers to expand.
The Centrifugal Pump Market growth differs in each region due to mature markets with steady opportunities in oil & gas, water utilities, and regulatory-driven upgrades. Below is a summary of market share and trends by region:
1. North America
Market Share:
Holds a substantial portion of the global centrifugal pump marketKey Drivers:
- Strong infrastructure and industrial base, including oil & gas, chemicals, and water treatment
- Significant demand from the energy sector, including shale gas and power generation
- Antiquated municipal water and wastewater systems are driving replacement and upgrade needs
Trends:
Rising investment in renewable energy and retrofit projects across utilities and industrial sectors
2. Europe
Market Share:
Significant share, particularly in industrial and environmental applicationsKey Drivers:
- Stringent EU environmental regulations (e.g., Ecodesign Directive) promote energy-efficient pumps
- Well-established manufacturing, chemical, and pharmaceutical sectors
- High demand from water recycling and wastewater treatment
Trends:
Increasing adoption of IoT-enabled pumps and condition monitoring solutions
3. Asia Pacific
Market Share:
Fastest-growing region with a rising market share every yearKey Drivers:
- Rapid urbanization, industrialization, and agricultural mechanization
- Government investment in irrigation, wastewater treatment, and smart city projects
- Growing power generation capacity and oil & gas exploration activities in China, India, and Southeast Asia
Trends:
Strong focus on localized manufacturing and cost-efficient product lines
4. South and Central America
Market Share:
Moderate and expanding, with increasing demand across agriculture and miningKey Drivers:
- Growing agricultural irrigation needs in Brazil and Argentina
- Expanding mining and mineral processing sectors in Chile and Peru
- Efforts to improve water supply and sanitation infrastructure
Trends:
Development aid and foreign investment are boosting water and utility infrastructure projects
5. Middle East and Africa
Market Share:
Although small, it is growing quicklyKey Drivers:
- Strong investment in desalination plants, district cooling, and oil & gas facilities in GCC countries
- Urgent need for reliable water pumping solutions in agriculture and rural development
- Power generation and mining growth in Sub-Saharan Africa
Trends:
Infrastructure upgrades aimed at improving water distribution and flood control systems
Centrifugal Pump Market Players Density: Understanding Its Impact on Business Dynamics
High Market Density and Competition
Major global players include Xylem Inc., Grundfos, Flowserve, KSB SE & Co., Sulzer, Ebara, Weir Group, Wilo, and ITT Corp., alongside regional leaders such as Kirloskar Brothers (India).
- Strategic Differentiators Emphasis on energy-efficient design, IoT-enabled smart monitoring, modular configurations, and value-added services such as predictive maintenance.
Opportunities and Strategic Moves
- Global expansions (e.g., Xylem opening a new facility in Egypt), mergers and acquisitions, and product innovation across smart and sustainable pumps.
Major Companies operating in the Centrifugal Pump Market are:
- Ebara Corp
- Grundfos Holding AS
- KIRLOSKAR BROTHERS LIMITED
- Sulzer Ltd
- The Weir Group PLC
- Xylem Inc.
- Gorman-Rupp Pumps
- Fives SAS
- Atlas Copco AB
- Parker Hannifin Corp
Disclaimer: The companies listed above are not ranked in any particular order.
Other companies analyzed during the course of research:
- KSB SE & Co KGaA
- PLEUGER INDUSTRIES
- Tsurumi Manufacturing Co., Ltd.
- WILO SE
- SHI Cryogenics Group
Centrifugal Pump Market News and Recent Developments
Sulzer and Manweir sign 10-year strategic service partnership in Qatar
Sulzer partnered with Manweir WLL, a leading engineering services provider, the oil & gas arm of Mannai Corporation, to enhance the availability and quality of rotating equipment repairs and services across Qatar.Sulzer inaugurates new high-performance pump facility at its location in Mexico
Sulzer recently celebrated the official launch of a new test and assembly center in Mexico City, which was built alongside its existing pump manufacturing facility.Xylem Completes Acquisition of Evoqua
Xylem Inc., a leading global water technology company ("Xylem" or "the Company"), announced it has completed its acquisition of Evoqua Water Technologies Corp. ("Evoqua"), a leader in mission-critical water treatment solutions and services, in an all-stock transaction valued at approximately US$7.5 billion.
Centrifugal Pump Market Report Coverage and Deliverables
The "Centrifugal Pump Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Centrifugal Pump Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Centrifugal Pump Market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Centrifugal Pump Market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Centrifugal Pump Market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Stage , Operation Type , Type , and Sector
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, France, Germany, India, Italy, Japan, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, Uzbekistan, Vietnam
Frequently Asked Questions
Digitalization is playing a major role in transforming the market. Smart pumps with IoT connectivity enable remote monitoring, predictive maintenance, energy usage analysis, and real-time performance tracking, reducing downtime and operational costs.
Key growth drivers include:
1. Rising infrastructure investments in water supply and treatment
2. Rapid industrialization and urbanization, especially in APAC
3. Growing agricultural irrigation needs in developing regions
As of 2024, the global centrifugal pump market is valued at 38.29 billion (US$) and continues to grow due to increasing demand across sectors such as water and wastewater management, oil & gas, power generation, and agriculture.
Challenges include:
1. Fluctuating raw material prices (e.g., stainless steel, cast iron)
2. High maintenance costs for large-scale operations
3. Growing competition from alternative pump technologies in niche applications
4. Pressure to reduce carbon footprint and meet regulatory standards
Asia Pacific is projected to remain the largest and fastest-growing region, led by China, India, and Southeast Asian nations. The region benefits from high industrial activity, government investments in water infrastructure, and agricultural modernization.
Major end-use sectors include:
1. Industrial: Power, chemicals, oil & gas, pharmaceuticals, and food processing
2. Agriculture: Irrigation and groundwater extraction
3.Residential and Commercial: Water supply, HVAC, and drainage systems
Centrifugal pumps are generally classified by:
1. Stage: Single-stage and multistage
2. Design: Radial flow, mixed flow, and axial flow
3. Operation Type: Electric, Hydraulic, Air Driven
4. Type: Overhung Impeller, Vertically Suspended, Between Bearing
The List of Companies - Centrifugal Pump Market
- Ebara Corp
- Grundfos Holding AS
- KIRLOSKAR BROTHERS LIMITED
- Sulzer Ltd
- The Weir Group PLC
- Xylem Inc.
- Gorman-Rupp Pumps
- Fives SAS
- Atlas Copco AB
- Parker Hannifin Corp
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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