According to our latest study on "Global Centrifugal Pump Market - Global and Regional Share, Trend, and Growth Opportunity Analysis - by Stage, Design, Opeartion Type, Type, End User, and Geography," the market was valued at US$ 38.29 billion in 2024 and is expected to reach US$ 55.58 billion by 2031. The centrifugal pump market size is estimated to register a CAGR of 5.7% during 2025-2031. The report includes growth prospects in light of the current Centrifugal Pump Market trends and driving factors influencing the market.

The centrifugal pump market encompasses the manufacturing, distribution, sales, and servicing of these pumps across industries, including water and wastewater management, oil and gas, power generation, chemicals, pharmaceuticals, and food and beverage sectors. They operate based on centrifugal force, where fluid enters the pump impeller along the rotating axis and is accelerated outward through the impeller's blades into a diffuser or volute chamber, generating flow and pressure.

With increasing investments in clean energy infrastructure and government incentives supporting renewable technologies, the demand for efficient, durable, and solar-compatible centrifugal pumps is rising, creating an opportunity for pump manufacturers who can adapt to these emerging application areas. Additionally, cooling systems for solar farms, wind turbines, and renewable-powered industrial setups require reliable circulation and heat dissipation, where centrifugal pumps play a critical role. Centrifugal pumps are used for cryogenic fluid handling and transfer processes in liquefied natural gas (LNG) infrastructure, which is gaining momentum as a cleaner fuel alternative. Government initiatives in developing hydrogen infrastructure are driving the demand for cryogenic pumps. In January 2024, the European Commission approved an Italian aid scheme worth US$ 597.81 million to support investments in hydrogen usage as a replacement for methane and other fossil fuels in industrial settings. This initiative will provide direct grants to enterprises that seek to reduce greenhouse gas emissions by at least 40% or cut energy consumption by a minimum of 20%, with hydrogen consumption requirements expected to scale up to 100% by 2036.

Global Centrifugal Pump Market Report: Key Findings

The centrifugal pump market in North America is defined by a combination of technological sophistication, high infrastructure standards, and regulatory-driven modernization across various sectors. The region's demand is shaped by widespread use in municipal water systems, industrial processing, power generation, HVAC systems, and oil and gas applications. A key characteristic of the North American market is its strong preference for energy-efficient, automated, and digitally enabled pumps. As sustainability becomes a central focus, industries and municipalities are upgrading legacy systems with smart centrifugal pumps that integrate features like remote monitoring, real-time diagnostics, and variable frequency drives. These upgrades help reduce energy consumption and improve system reliability and control, especially in water treatment and building services.

The market includes various types of centrifugal pumps, categorized by stage (single-stage, multi-stage), design (radial flow, axial flow, mixed flow), operation type (electric, hydraulic, air driven), type (overhung impeller, vertically suspended, between bearing), end users (industrial, commercial, agriculture, and residential), and region.

The global centrifugal pump market report emphasizes factors driving the market and prominent players' developments. Ebara Corp, Grundfos Holding AS, KIRLOSKAR BROTHERS LIMITED, Sulzer Ltd, The Weir Group PLC, Xylem Inc., Gorman-Rupp Pumps, Fives SAS, Atlas Copco AB, and Parker Hannifin Corp are among the prominent players profiled in the global Centrifugal Pump Market report. These players focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities.

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