Market Size of APAC Centrifugal Pumps Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.70 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Centrifugal Pumps Market Analysis
The Asia-Pacific Centrifugal Pumps Market is expected to register a CAGR of 5.7% over the forecast period. According to world pumps, massive population re-location initiatives and infrastructure expansion in India and China over the next few years will mean increasing demand for centrifugal pumps in power generation and wastewater treatment. A study by the US Department of Energy reveals that 16% of the electricity costs in an industry are due to pump systems.
- Amid ongoing urbanization and infrastructure modernization, the Chinese pump market showcase the great potential for future growth. On the surface, it appears that this is a great time for pump suppliers to focus on expanding in the Chinese market because of a recent government subsidy program that encourages and incentivizes using energy-efficient water pumps. The pumps used in the power generation and water & wastewater treatment sectors are expected to be in high demand.
- In the Asia-Pacific region, particularly in China, on average, pumps made are 80% as efficient as pumps produced in other developed areas. This is due to a larger emphasis on initial pump cost rather than its long-term energy savings potential. According to industry estimates, India produces about 4.5 million pumps per annum. As per the Indian Pump Manufacturers' Association, the segment has around 800 manufacturers making pumps of different capacities.
- China, India, and other Asian countries are experiencing robust investments into infrastructure, which is expected to increase industrial output for the centrifugal pump market. For instance, energy-efficiency mandates introduced in the pump market will ultimately benefit large international companies such as Sulzer, KSB, Xylem, and many more.
- Industrial manufacturing companies were grappling with the unprecedented effect of the COVID-19 pandemic, as both the manufacturing and supply chain operations were disrupted, and their customer's operations faced similar threats. Further, COVID-19 has negatively impacted the market growth, mainly due to stoppage in discrete manufacturing industry operations. Due to restrictions in lockdowns, delays in project construction activities exponentially affected the whole supply and distribution network, hitting industrial equipment companies with a lag.
