The below 30 Hp centrifugal water pump market is on the brink of significant transformation, poised to surge from a valuation of US$ 37.1 million in 2022 to an impressive US$ 68.95 million by the year 2032. This remarkable growth trajectory, projected by industry experts at FMI, indicates a robust Compound Annual Growth Rate (CAGR) of 5.3% throughout the anticipated period.
One of the driving forces behind this exceptional market expansion is the escalating demand for cost-effective and energy-efficient centrifugal water pumps. As energy costs continue to rise, and environmental consciousness takes center stage among end-users, the need for sustainable solutions becomes paramount. Centrifugal water pumps, with their ability to efficiently move water with minimal energy consumption, are emerging as the ideal choice to meet these dual demands. This trend is expected to further accelerate the market’s growth over the forecasted period.
Furthermore, the surge in sales of below 30 Hp centrifugal water pumps, equipped with enhanced capacity and efficiency, is another pivotal factor shaping the market landscape. These pumps are increasingly finding favor in both residential and agricultural applications, primarily driven by the pressing need to secure new and reliable water sources. As global water resources face mounting challenges due to climate change and increased demand, the role of these pumps in harnessing and distributing water efficiently cannot be overstated.
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The below 30Hp centrifugal water pump market is predicted to expand owing to the surging investments in infrastructure and increased construction activities. Owing to the expansion of the water supply network and a surge in agriculture initiative operations, there is a rising demand for these water pumps. Over the assessment period, a phenomenal rise in demand for cost-effective and energy-efficient centrifugal water pumps can be seen attributing to the rising energy costs and increasing environmental consciousness among end users.
Key Takeaways:
- With the help of technological advancements, the performance of a below 30 Hp centrifugal water pump in the market is anticipated to bolster, making it efficiently usable in several downstream applications. Furthermore, they save a chunk of money by not put hefty investments and setting up supplementary equipment like pulsation dampeners.
- Attributing to its corrosion-resistant design, the below 30Hp centrifugal water pumps efficiently operate in environments where conventional pumps degrade rapidly. Over the assessment period, the demand for below 30Hp centrifugal water pumps is likely to increase due to rising energy costs and increasing environmental consciousness among end users.
- These pumps are massively used in several end-use industries that allow producers, distributors, and users of chemicals to transport a wide range of fluids under diverse conditions, including ones that would quickly destroy other pumps.
- More than 50% of all the pumps sold around the globe are below 30 Hp centrifugal water pumps. These pumps are majorly utilized in both small as well as large-scale industrial applications including power, wastewater treatment, and chemicals.
- Over the projection period, a reasonable surge in the sales of below 30 Hp centrifugal water pumps witnessed owing to their efficiency, which is ideal for home and agricultural applications. This is resulting in a surging need for new water sources all over the world.
- As compared to various other pumping methods, below 30 Hp centrifugal chemical pumps have a good energy efficiency rating. Due to this, they have a big advantage over other pump designs in the market.
Competitive Landscape:
The below 30 Hp centrifugal water pump market is massively consolidated, as prominent regional and local players account for a collective revenue share of around 70% of the total centrifugal water pump market in the country.
Key Players in Below 30 Hp Centrifugal Water Pump Market are Grundfos, KSB Pumps Ltd., Xylem Inc, Wilo SE, Flowserve Corporation, Calpeda S.p.A, Omega Egypt Co.
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Key Segments:
By Application:
- Industrial
- Agriculture
- Domestic
By Product:
- Mini Pumps (0.5-30 HP)
- Monobloc Pumps (0.5-30 HP)
- Submersible Pumps (0.5-30 HP)
By Capacity:
- 0.5 Hp (minimum)
- 30 Hp (maximum)
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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