Market Trends of Multi-Stage Centrifugal Pumps Industry
This section covers the major market trends shaping the Multi-Stage Centrifugal Pumps Market according to our research experts:
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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