FMI Has Forecast The Centrifugal Pumps Demand To Rise At 4.7% By The 2031

Demand for centrifugal pumps in the industrial segment increased 4.2% between 2020 and 2021, giving the combined centrifugal pumps markets a year-over-year growth of 4.1% in 2021, according to the Future Market Insights report.

Increased demand in the oil and gas and chemical industries will drive the centrifugal pumps market to grow at a 4.6 percent CAGR between 2021 and 2031, compared to a 2.3 percent CAGR between 2016 and 2020.

Centrifugal pumps are used to move fluids between and within facilities. Various advancements in the materials used to manufacture these pumps have benefited the market over the years. Companies introduced pressure-resistant variants as a result of material sciences research and development.

Food grade pumps are required in the food and beverage industry. As a result, companies introduced advanced pumps that will comply with the Bureau of Food Standards’ regulations.

The chemical industry, on the other hand, uses centrifugal pumps to transfer and store reactive fluids. Chemical manufacturing involves complex and intricate industrial processes.

With so many transferring operations, it’s critical to find the most versatile, dependable, and efficient pumping technology. Centrifugal pumps are capable of moving medium to high viscosity fluids, liquefied gases, and water-like fluids with ease. The technology has proven effective in the chemical plant environment, with lower total costs over the pump’s lifespan due to lower installation costs.

The industry is also shifting toward incorporating the Internet of Things, which will allow pump operators to monitor velocity, flow rate, and other parameters from remote locations. Smart assistant tools are being developed to provide insights into potential fault conditions, as well as reporting, runtime, and detailed operational data visualization.

The technology will be able to control all pump parameters in real-time, including speed, flow rate, and dispensing volume. Push notifications will notify you of operating conditions and error messages.

Due to the implementation of modern technology in manufacturing and monitoring operations, the domestic segment of centrifugal pumps has significantly expanded in recent years.

Variable speed drives (VSDs), SCADA systems, and condition monitoring equipment have permeated every aspect of our lives as electronics and computers have permeated every aspect of our lives.

Key Players:

  • Ebara Corporation
  • Xylem Inc.
  • Sulzer AG
  • Flowserve Corporation
  • Grundfos
  • Wier Group
  • KSB Group
  • Shakti Pump
  • Kirloskar Brothers Ltd.
  • Tsurumi Manufacturing Co., Ltd.
  •  WPIL Limited
  • HERMETIC-Pumpen GmbH
  • Klaus Union GmbH & Co. KG
  •  Ruhrpumpen Group
  • HOMA Pumpenfabrik GmbH
  • CP Pumpen AG
  • Toyo Denki Industrial Co. Ltd.
  • Speck Pumpen Walter Speck GmbH & Co. KG

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