Covid-19 Impact on Centrifugal Pump Market: Updated Study Offering Insights & Analysis up to 2025

The market research report, entitled Centrifugal Pump Market shows good possibilities in the Centrifugal Pump Market during the next five-year period and ensures more information regarding market trends. The following summary will give an overview of the drivers, challenges, and key players in the market.

Global Centrifugal Pump Market Forecast:

Centrifugal Pump Market is likely to witness an impressive CAGR of 5.2% during the forecast period. Investments in wastewater treatment plants in the emerging economies majorly in the Middle East and Asia-Pacific are the key influencers that are driving the centrifugal pump market globally.

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Key Players

The following are some of the key players in the Centrifugal Pump Market:

• Xylem Inc.,
• The Flowserve Corporation,
• Grundfos, Sulzer Ltd.,
• ITT Corporation,
• WILO SE,
• Circor International Inc.,
• Ebara Corporation,
• Baker Hughes (A GE Company).

COVID-19 Impact on Global Centrifugal Pump Market

The COVID-19 pandemic is likely to favorably impact market growth. To curb the spread of the virus, countries worldwide are imposing restrictions and are promoting social distancing measures. Strict restrictions on the movement of people are further expected to negatively impact land-based casino operations.

Centrifugal Pump Market Segmentation:

The report segments based upon demographics, geographics, benefits, and volume, etc, have different driving factors and identifies the most attractive segments and sub-segments. Centrifugal Pump and other resources also allows companies to learn about their target audience so that they can tailor campaigns and increase market share and revenue.

Based on the type, the market is segmented as an overhung impeller, vertically suspended, and between bearing. The overhung impeller segment dominated the market in 2019, and the segment is likely to maintain its dominance during the forecast period. The growth of the segment is owing to the extensive use of overhung impellers in commercial, residential, and industrial applications. In addition, they are also used in different end-use industries for power generation owing to their low cost as compared against bearing pumps.

Based on the stage type, the market is segmented as single stage and multistage. The multistage segment is estimated to have substantial growth in the coming five years. Multistage pumps offer several advantages as they are suitable in operating in a host of flow/head situations.

Based on the end-user type, the market is segmented as industrial and commercial & residential. The industrial segment is expected to register a higher growth during the forecast period. The market is driven by the increasing demand from the water and wastewater and agricultural sectors majorly in the countries such as India, Thailand, Saudi Arabia, Malaysia, Vietnam, and Nigeria.

In terms of regions, Asia-Pacific is expected to dominate the centrifugal pump market in the coming five years. China and India are the growth engines of the region. The market is driven by the growing investments in the water and wastewater set-up in India and other South-Eastern countries.  North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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