The global centrifugal pump market is estimated to grow from USD 39.7 billion in 2023 to USD 51.5 billion by 2028; it is expected to record a CAGR of 5.4% during the forecast period.
Centrifugal Pump Market by Type (Overhung Impeller, Vertically Suspended, Between Bearing), Operation Type (Electric, Hydraulic, Air Driven), Stage (Single Stage, Multistage), End-User (Industrial, Commercial, Residential), Region
The global centrifugal pump market reached a size of USD 29.61 Billion in 2016; it is projected to reach USD 36.98 Billion by 2022, growing at a CAGR of 3.83%, from 2017 to 2022.
Centrifugal Pump Market Projected to reach $36.98 billion by 2022 | Key players include ITT (US), Flowserve (US), KSB (Germany), Sulzer (Switzerland), Grundfos (Denmark), and Ebara (Japan)
The market is set to witness growth due to increasing investments in infrastructure development and rising demand from the industrial sector.
The market is set to witness growth due to increasing investments in infrastructure development and rising demand from the industrial sector.