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Centrifugal Pump Market Drivers Increasing Demand for Waste Water Treatment

HYDERABAD, TELANGANA, INDIA, February 13, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Centrifugal Pump Market is forecast to reach $39.73 billion by 2025, growing at a CAGR of 3.57% from 2020 to 2025. The increasing off-field exploration activities in North American and APAC regions is set to boost the demand for the centrifugal pumps. The significant usage of suction pump, impeller pump and others in the extraction, processing and many other application in the oil and gas sector is set to boost the market growth rate during the forecast period 2020-2025. In addition the deployment of the centrifugal pumps in vacuum cleaners and the increasing demand for these products, especially robot vacuum cleaners is set to the demand for centrifugal pumps in the manufacturing sector. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Report/18743/centrifugal-pump-market.html

Key takeaways:

1. APAC region holds the highest market share in 2019 and is estimated to grow at highest rate during the forecast period owing to the high consumption of crude oil as the centrifugal pumps are majorly deployed in this sector.

2. Oil and gas is analyzed to be the major end user industry holding a significant share during 2019. The high applications of centrifugal pumps in downstream and midstream sectors will drive the market.

3. The growing demand for the centrifugal pumps in waste water treatment in many major countries such as China, US and so on are set to drive the market during the forecast period.

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https://www.industryarc.com/pdfdownload.php?id=18743

Segmental Analysis:

1. Single stage pumps are analysed to hold highest market share in 2019 at 69.2% and are analysed to grow at highest rate during the forecast period.

2. Oil and gas is the dominant industry in 2019 owing to the wide spread applications of the centrifugal pumps in extraction and processing applications. However, the significant rise in the environmental issues requiring the mandatory addressing is curbing the production of crude oil and is set to impact the centrifugal pump market during the forecast period.

3. As stated by OPEC, Asia- Pacific region has 13% of the global crude oil reserves and 38% of its gas accounting to its current production of around 37% and 58% of global oil and gas respectively.

4. In August 2018, Indian Oil Corp. announced plans to double its refining capacity in India by 2030 from production of 80.7million metric tonnes in 2018 to 150 MMTPA by the year 2030.

Competitive Landscape:

The top 5 players in the Centrifugal Pump industry are -

1. Flowserve Corp.

2. Schlumberger Ltd.

3. General Electric (Baker Hughes)

4. KSB SE & Co. KGaA

5. Weir Group PLC

Click on the following link to buy the Centrifugal Pump Market Report:
https://www.industryarc.com/reports/request-quote?id=18743

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Related Reports:

A. Pumps Market
https://www.industryarc.com/Report/18656/pumps-market.html

B. European Pump Market
https://www.industryarc.com/Report/20084/european-pump-market.html

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