Centrifugal Pumps Market to reach US$ 48.3 Bn by 2025
Verfasser: pradnya_86 on Thursday, 2 February 2017Refurbishing of ageing manufacturing plants and pumping systems, combined with increasing exploration activities for new sources of water is driving global demand for centrifugal pumps. However, long replacement cycles and proliferation of low cost pumps made in China, can pose challenges to growth. These insights are according to FMI’s new report, “Centrifugal Pumps Market: Global Industry Analysis and Opportunity Assessment, 2015-2025”, which estimates global centrifugal market revenues to increase at 4.6% CAGR and reach US$ 48.3 Bn by 2025.
The key trends identified in the centrifugal pumps market include preference for energy-efficient centrifugal pumps, high adoption of micro-disc pumping, and incorporation of variable frequency drive technology. Reducing the pump life cycle costs and development of supply chain network are key opportunities that leading players will look to leverage on going forward.
FMI’s report offers 10-year forecast on the basis of product type, end-use, and region.
Key centrifugal product types covered in the report include,
Single-stage pump
Multi-stage pump
Axial & mixed flow pump
Submersible pump
Sealless and circulator flow pump