|Fastest Growing Market:||Asia-Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The multi-stage centrifugal pumps market is expected to grow at a CAGR of 5.76% during the forecast period, 2022-2027. The COVID-19 pandemic has negatively impacted the oil and gas and power generation activities worldwide. The decline is caused mainly due to delays in project construction activities and supply chain disruptions, reducing the demand for multistage centrifugal pumps across the regions.
- The increased use of centrifugal pumps in upstream and downstream sectors for various applications in the end-user industries, along with the low cost and compact size of the pump, is driving the multistage centrifugal pump market over the forecast period.
- Moreover, the ongoing technological advancements that have enabled deep-water and ultra-deepwater explorations are expected to increase oil production and provide market growth opportunities for the market studied.
- For instance, in June 2022, Flowserve Corporation, a significant provider of flow control products and services for global infrastructure markets, announced a contract to supply pumps to TMGcore, Inc., a Texas-based leading provider of high-performance computing solutions specializing in liquid immersion cooling technology.
- In April 2021, KSB Ltd, a pump manufacturing company, delivered a main boiler feed water pump, BFP (RHD-350), and Booster Pump-BP (YNK 350-620) for Nuclear Power Corporation of India Ltd. (NPCIL). It marked a milestone for KSB Ltd. in developing the pump for 700 MW Indian Pressurised Heavy Water Reactors (PHWRs) & adding a new product to its product line, which already boasts a range of pumps for nuclear application.
- Further, in December 2021, Grundfos launched the largest CR pump, CR 255 model, to celebrate the 50 years of delivering pump technologies. Grundfos’ range of CR pumps is the vertical multistage centrifugal inline pumps used predominantly for water supply, water treatment, and almost all industrial solutions. The new CR 255 model delivers a water pressure of up to 400 m and achieves a maximum water flow of up to 320 m3/h, the equivalent of supplying water to 9,500 people.
Scope of the Report
The market study analyses the market trends and opportunities for different types of multi-stage centrifugal pumps, such as Horizontal pumps and Vertical Pumps, that are used in the various end-user industry application, including Oil & Gas, Chemicals, Food & Beverage, Water & Wastewater, Pharmaceutical, Power Generation, Metal & Mining, among others in various geographies. The impact of COVID-19 on the market and affected segments are also covered under the scope of the study. Further, the disruption factors impacting the market's growth in the near future have been covered in the study in terms of drivers and restraints.
|By End-User Industry|
|Oil & Gas|
|Food & Beverage|
|Water & Wastewater|
|Metal & Mining|
|Other End-User Industries|
|Middle East and Africa|
Key Market Trends
Water & Wastewater Segment to Hold a Significant Market Share
- Water and wastewater treatment utilities are typically the largest energy consumers, with an average of 30% to 40% of the total energy consumed. This makes implementing energy-efficiency measures in water sector systems an inevitable option. Further, EPA estimates that 3% to 4% of the US electricity consumption will be consumed to provide clean drinking water to its citizens and manage wastewater, Asserr treatment services each year.
- The governments are making various investments across the regions to improve the water infrastructure. For instance, in November 2021, the United States president signed the Infrastructure Investment and Jobs Act (IIJA) that allocated USD 1.2 trillion for the infrastructure in the United States, including USD 55 billion for water pipe upgrades and investments in clean drinking water and water recycling programs.
- In December 2021, Sundyne, a manufacturer of centrifugal pumps and compressors, announced the expansion of its office in Pune, India, to support the business's rapid growth. India is a strategic region for Sundyne because the local & regional economies are growing rapidly in the energy, chemical & petrochemical, and industrial markets.
- In April 2022, Suez launched a platform, AssetAdvanced, to deliver smart planning for water and sanitization infrastructure investment. By deploying this decision-support platform, water service and sanitation managers can expand their knowledge of current assets, reduce risks and cost overruns from infrastructure failures, and make informed decisions on future investments.
- Moreover, in June 2022, GAP Hire Solutions established a specialist pump services division and, as a part of the EUR 18 million investment, has selected pumps from Atlas Copco Power and Flow. Atlas Copco will provide 310 bespoke surface dewatering pumps of various sizes, including 4, 6, and 8-inch pumps.
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North America Accounts for the Largest Market Share
- The increasing investments in the end-user industries, such as oil and gas, chemical, and power generation, significantly impact the multi-stage centrifugal pump market in the North American region due to the increasing natural gas production. Countries in the region, such as the United States and Canada, have abundant oil reserves and try to utilize their oil sands resources.
- In August 2021, Atlas Copco announced that the company had acquired CPC pumps International Inc, a Canadian company specializing in custom-engineered, process-critical multi-stage centrifugal pumps for the hydrocarbon industry. CPC Pumps is now part of the Gas & Process division within Atlas Copco’s Compressor Technique business area.
- Moreover, in October 2021, Equinox Gold announced the full-scale construction of its USD 1.23 billion Greenstone gold mine project in Ontario, Canada. The project is slated to become one of the country’s largest gold mines, expected to produce more than 400,000 ounces of gold a year for the first five years of its initial 14-year life, with a life of mine average production level of 360,000oz/y. Such developments are expected to drive the multi-stage centrifugal pump market over the forecast period.
- In 2021, DSC Dredge and Muddy Water Dredging signed a contract to construct one of the largest 24-inch dredges in the United States. This custom-built diesel-electric dredge will have a total installed horsepower of 9,621 HP and 6,830 kW of electrical power.
- Further, in March 2021, KBL announced the launch of new flood control Autoprime pump unit. The high-capacity pump set by KBL has been frequently pressed into service for major dewatering and disaster management mission. This mobile flood-control and the inland water-management units are vastly used for dewatering flood-affected areas during flood-like monsoon situations.
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The multi-stage centrifugal pumps market is witnessing a rise in competitiveness among companies. The market consists of various major players, such as Kirloskar Brothers Limited and The Weir Group PLC. In terms of market share, these significant players currently dominate the market. However, with increasing technology innovations, many companies are increasing their market presence by securing new contracts and tapping new markets.
- March 2022 - Atlas Copco announced a plan to buy LEWA GmbH and subsidiaries and Geveke B.V. and subsidiaries for a combined enterprise value of EUR 670 million. The acquisition is expected to be completed during the second quarter of 2022. The main part of the acquired businesses will have its base in the Power and Flow division within Atlas Copco’s Power Technique Business Area, and a smaller part will have its base in the Service division within the Compressor Technique Business Area.
- June 2021 - Kirloskar Brothers Limited announced the launch of a new manufacturing division -Advanced Technology Product Division for nuclear end use applications including specialized pumps.
- November 2021 - Kirloskar Brothers Limited (KBL), a centrifugal pump manufacturer, has received a double suction concrete volute pumping assembly patent. This patent will help the company offer its Concrete Volute Pumps with reduced submergence leading to reduced excavation costs for the customer.
- February 2021 - SAER, an Italian manufacturer of surface and submersible pumps and motors, has announced its entire range of TM high pressure pumps in a super duplex version to meet the needs of the desalination process. The range is made in Italy and is available for vertical and horizontal installation.
Table of Contents
1.1 Study Assumption And Market Definition
1.2 Scope of the study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power Of Suppliers
4.2.2 Bargaining Power Of Buyers
4.2.3 Threat Of New Entrants
4.2.4 Threat Of Substitutes
4.2.5 Intensity Of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Impact of Covid-19 on the market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 High Demand for Water and Wastewater Management in Developed Countries
5.1.2 Growing Integration of Innovative Technologies to Efficiently Operate Product
5.2 Market Challenges
5.2.1 Increased Competition from Grey Market Players and Unorganized Sector
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 Horizontal Pumps
6.1.2 Vertical Pumps
6.2 By End-User Industry
6.2.1 Oil & Gas
6.2.3 Food & Beverage
6.2.4 Water & Wastewater
6.2.6 Power Generation
6.2.7 Metal & Mining
6.2.8 Other End-User Industries
6.3 By Geography
6.3.1 North America
6.3.3 Asia Pacific
6.3.4 Latin America
6.3.5 Middle East and Africa
7. COMPETITIVE LANDSCAPE
*List Not Exhaustive
7.1 Company Profiles
7.1.1 Kirloskar Brothers Limited
7.1.2 Baker Hughes Company
7.1.3 Circor International Inc.
7.1.4 Ebara Corporation
7.1.5 The Weir Group
7.1.6 Grundfos Holding
7.1.7 Pentair Inc.
7.1.9 Tsurumi Manufacturing Co. Ltd
7.1.10 Wilo SE
7.1.11 Xylem Inc.
7.1.12 KSB SE & Co.
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Multi-Stage Centrifugal Pumps Market market is studied from 2022 - 2027.
What is the growth rate of Multi-Stage Centrifugal Pumps Market?
The Multi-Stage Centrifugal Pumps Market is growing at a CAGR of 5.76% over the next 5 years.
Which region has highest growth rate in Multi-Stage Centrifugal Pumps Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Multi-Stage Centrifugal Pumps Market?
North America holds highest share in 2021.
Who are the key players in Multi-Stage Centrifugal Pumps Market?
Kirloskar Brothers Limited, Circor International Inc., The Weir Group, Baker Hughes Company, Ebara Corporation are the major companies operating in Multi-Stage Centrifugal Pumps Market.