South Africa Centrifugal Pumps Market Is Projected To Expand At A CAGR Of Around 5%, While That Of Mexico Accounts For Approximately 4%, Through 2031

The key factors driving the growth of the centrifugal pump market are increased investments in the construction industry due to rapid urbanisation and high demand for centrifugal pumps in the agricultural sector. Global sales of centrifugal pumps are expected to exceed US$ 29 billion in 2021, growing at a CAGR of 4.6 percent from an estimated USD 24.3 billion in 2021.

FMI anticipates strong growth in the oil and gas industry, particularly in China, the United States, the Middle East, and Africa. Centrifugal pumps are critical in the industry for ensuring accurate and repeatable transportation and pumping operations. Centrifugal pumps are in high demand as a result of increased activity in the oil and gas sector around the world.

The presence of numerous Chinese players offering low-cost centrifugal pumps has restrained most regional and global players. The increasing price pressure exerted by these players is influencing key suppliers to provide high-quality, dependable, efficient, and technologically advanced centrifugal pumps at competitive prices.

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Manufacturers need to evaluate life cycle costs and facilitate smart buying decisions. Centrifugal pump manufacturers need to analyze cost of energy and return of investment for centrifugal pumps compared to purchase and installation costs.

Global demand for centrifugal pumps is directly correlated to infrastructure development activities worldwide. Governments of developing countries such as China and India are focusing on urbanization, which in turn is anticipated to fuel demand for centrifugal pumps particularly in domestic, Water and wastewater treatment industries.

Key Takeaways from Centrifugal Pump Market Study

  • Multi stage pumps are expected to hold over 50% of the global market share, supported by heavy duty requirements of the oil and gas sector.
  • Water and wastewater applications are projected to hold over a third of the overall market share by 2031-end, aided by infrastructure investments in emerging economies.
  • The market in the South Africa is projected to expand at a CAGR of around 5%, while that of Mexico accounts for approximately 4%, through 2031.
  • The markets in India and South Korea are set to surge at higher than 5% CAGR over the coming decade.
  • Germany will hold the lead in Europe with a valuation of over US$ 1.2 Bn in 2021. Major investments in the natural gas sector will provide impetus.

“Developing nations are exhibiting high demand for centrifugal pumps for industrial and commercials applications, driven by rising investments into water and wastewater infrastructure by governments. This will enable growth in the overall market through 2031,” says a Future Market Insights analyst.

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Centrifugal Pump Market Competitive Landscape

The centrifugal pumps market is highly consolidated, with key players accounting for more than four-fifth of the market share. These players are likely to invest in technology developments and the expansion of their networks in order to maintain their market shares.

Some of the key players in this industry include but are not limited to Ebara Corp., Xylem Inc., Sulzer AG, KSB Group, Flowserve Corp., and Kirloskar Brothers.

Centrifugal Pumps Market by Category

By Product Type:

  • Single Stage Pump
    • Small
    • Medium
    • High
  • Multi Stage Pump
    • Small
    • Medium
    • High
  • Axial & Mixed Flow Pump
    • Small
    • Medium
    • High
  • Submersible Pump
    • Small
    • Medium
    • High
  • Seal Less & Circular Pump
    • Small
    • Medium
    • High

By Application Type:

  • Industrial Centrifugal Pumps
    • Oil & Gas
    • Chemical
    • Water & Wastewater
    • Food & Beverage
    • Pharmaceutical
    • Power
    • Others
  • Agricultural Centrifugal Pumps
  • Domestic Centrifugal Pumps

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

Read More:

https://commaful.com/play/sonufmi/aviation-test-equipment-market-in-depth-analysis-g/

https://theprose.com/post/490240/covid-19-impact-on-aviation-test-equipment-market-research-report-2022-2032

https://www.are.na/pawar-sonu/aviation-test-equipment-market-latest-research-industry-analysis-driver-trends-business-overview-key-value-demand-and-forecast-2

https://www.viv.net/articles/blog/aviation-test-equipment-market-current-scenario-trends-comprehensive-analysis-and-regional-forecast-to-2032

https://primal-dread.mn.co/posts/25056617?utm_source=manual

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