Centrifugal pump: Key market research findings
- Growing application of 3-D printing in centrifugal pump industry
- Rise in adoption of solar pumps
Technavio has released a new market research report on the global centrifugal pump market, which is expected to grow at a CAGR of 4% between 2016 and 2020. A centrifugal pump find extensive use in industrial applications. These pumps are utilized in operations such as circulating coolants or lubricants throughout machines and equipment. There is a high demand for these pumps from process industries like water and wastewater management, oil and gas, paper and pulp, chemicals, petrochemicals, and energy. EMEA is the largest revenue-contributing region in the centrifugal pumps market, owing to rising demand from construction and water and wastewater industries in the region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, the pump manufacturers are combining 3D technology with digital advances in modeling software. Twin fields of 3-D and computer modeling technologies have started a whole new frontier in pump repair, replacement, and design. The use of 3-D printing techniques allows end-users to go beyond traditional tooling and casting while manufacturing centrifugal pump components such as diaphragms and impellers. This ensures that the end-user has control over the final product as well as an expanded flexibility when fitting a new part in a rigid or changing system,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research
Solar pumps are gaining traction in the centrifugal pumps market, owing to the various advantages they offer. Solar pumping systems offer a practical solution to overcome the problems posed by water scarcity. They are used in community water supply, forestry, fish farming and agriculture, and wastewater treatment engineering. Solar pumps are independent of the grid and pollution and noise-free. The full range of power and voltage options allows the use of solar pump drives for a longer time
Advantages of solar pumps over diesel pumps
Source: Technavio, 2016
The leading players in this market include Flowserve, ITT, KSB and Sulzer. Intense competition prevails in the market, as several regional and local vendors have started manufacturing customized and energy-efficient centrifugal pumps that are available at a lower price than their international counterparts. With the introduction of products with new features and technologies, the competition will become more aggressive.
A more detailed analysis is available in the Technavio report, Global Centrifugal Pumps Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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