APAC Centrifugal Pumps Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.70 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Centrifugal Pumps Market Analysis
The Asia-Pacific Centrifugal Pumps Market is expected to register a CAGR of 5.7% over the forecast period. According to world pumps, massive population re-location initiatives and infrastructure expansion in India and China over the next few years will mean increasing demand for centrifugal pumps in power generation and wastewater treatment. A study by the US Department of Energy reveals that 16% of the electricity costs in an industry are due to pump systems.
- Amid ongoing urbanization and infrastructure modernization, the Chinese pump market showcase the great potential for future growth. On the surface, it appears that this is a great time for pump suppliers to focus on expanding in the Chinese market because of a recent government subsidy program that encourages and incentivizes using energy-efficient water pumps. The pumps used in the power generation and water & wastewater treatment sectors are expected to be in high demand.
- In the Asia-Pacific region, particularly in China, on average, pumps made are 80% as efficient as pumps produced in other developed areas. This is due to a larger emphasis on initial pump cost rather than its long-term energy savings potential. According to industry estimates, India produces about 4.5 million pumps per annum. As per the Indian Pump Manufacturers' Association, the segment has around 800 manufacturers making pumps of different capacities.
- China, India, and other Asian countries are experiencing robust investments into infrastructure, which is expected to increase industrial output for the centrifugal pump market. For instance, energy-efficiency mandates introduced in the pump market will ultimately benefit large international companies such as Sulzer, KSB, Xylem, and many more.
- Industrial manufacturing companies were grappling with the unprecedented effect of the COVID-19 pandemic, as both the manufacturing and supply chain operations were disrupted, and their customer's operations faced similar threats. Further, COVID-19 has negatively impacted the market growth, mainly due to stoppage in discrete manufacturing industry operations. Due to restrictions in lockdowns, delays in project construction activities exponentially affected the whole supply and distribution network, hitting industrial equipment companies with a lag.
APAC Centrifugal Pumps Market Trends
This section covers the major market trends shaping the APAC Centrifugal Pumps Market according to our research experts:
Increasing Government Focus on Energy Efficient products to Drive the Market Growth
- Governments of developing countries such as China and India are focusing on urbanization, which is anticipated to fuel demand for centrifugal pumps, particularly in domestic, Water, and wastewater treatment industries. As improved infrastructure development continues to be a priority for numerous countries, the need for quality centrifugal pumps will also increase drastically.
- Other factors expected to heighten the demand for the centrifugal pumps market include growth in several end-use application segments, increased opportunities in different regions throughout the globe, and the growing demand for centrifugal pumps. Key factors contributing to the development of the global pumps market include growing energy consumption, steady demand from end-users, continuous investment in R&D activities, and increasing focus on renewable energy.
- The increasing demand for more efficient pumps and rapid industrialization in India and China are expected to propel the industrial pump market in the coming years. The growing need for better efficiency in production processes across a wide range of industries is expected to drive the industrial pumps market during the forecast period.
- The Government of India has launched several initiatives which have opened global opportunities for partnerships in the engineering sector. Such initiatives include Make in India and Smart Cities. The government has also planned several industrial corridors to boost manufacturing across India, including Delhi-Mumbai Industrial Corridor (DMIC), Bengaluru-Mumbai Economic Corridor (BMEC), and many more. Overall, these initiatives have opened vast opportunities for pumps as they are directly related to the end-use sectors such as construction, water management, and power generation, among others.
Water and Wastewater to Witness Significant Growth
- The type of pumps most commonly used at wastewater treatment plants includes the centrifugal, progressive cavity, and positive displacement. The rise in demand for water and wastewater has presented a host of challenges such as increasing energy costs, raised concern about the efficiency of pumps, and increased life cycle costs. According to the World Health Organization (WHO), half the global population is expected to live in water-stressed areas by 2026. Hence, the demand for centrifugal pumps in water and wastewater treatment infrastructures is expected to develop significantly worldwide in the coming years.
- Environmental regulations regarding energy consumption and pollution are becoming stricter, eventually forcing old treatment plants to upgrade their facilities or shift to new equipment. New treatment facilities and expansion projects are expected to increase the sales of pump manufacturers and help penetrate the global market. The need to reduce lifecycle costs to improve operating margins is anticipated to boost the usage of centrifugal pump system units in the water and wastewater industry.
- The recent developments in the water and wastewater treatment industries concerning the adoption of automation and centralized control systems to monitor water and wastewater quality, along with a strong focus on power and energy management, have provided a challenging environment for pump manufacturers. In addition, the demand for centrifugal pumps from water and wastewater treatment plants is anticipated to boost the growth of the centrifugal pumps market.
- Centrifugal pumps are used in various areas within water and wastewater technology. Due to the gas conveying capability's special properties and self-priming behavior, the pumps are also used in critical areas, for example, in the food and beverages industries. Apart from general water pumping, centrifugal pumps have special properties to transport media containing gas proportions of up to 30% of the volume flow rate to be supplied.
APAC Centrifugal Pumps Industry Overview
The Asia-Pacific Centrifugal Pumps Market is competitive and consists of several partakers like Baker Hughes Company, EBARA Pumps Europe S.p.A, Flowserve Corporation, KSB SE & Co., Ruhrpumpen Group, Schlumberger Limited, Sulzer Ltd and many more. The companies are increasing their market share by forming multiple partnerships, investing in projects, and launching new products in the market.
- March 2022 - Flowserve partnered with Gradiant to Accelerate Growth in the Water Technology Market. This partnership combines Flowserve's flow control solutions and product expertise with Gradiant's innovative, tailored water treatment technology to provide unparalleled water treatment solutions for customers. Flowserve also continues to upgrade its water portfolio with market-leading flow control products and solutions for the water industry. Recent additions include the H2O+ submersible pump, a suite of highly efficient pumps for desalination, and the RedRaven IoT platform, enhancing the overall solutions portfolio and aftermarket services.
- January 2021 - Sulzer acquired Nordic Water, a leading provider of screening, sedimentation, and filtration solutions for municipal and industrial water & wastewater applications. The acquisition allows Sulzer to grow its wastewater treatment business through equipment complementary to the existing portfolio of pumps. The company aims at exceptional opportunities to accelerate the growth in municipal and industrial wastewater and expand its offerings into the fast-growing water treatment market.
APAC Centrifugal Pumps Market Leaders
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Baker Hughes Company
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Flowserve Corporation
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The Weir Group PLC
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Schlumberger Limited.
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Sulzer Ltd
*Disclaimer: Major Players sorted in no particular order
APAC Centrifugal Pumps Market News
- November 2021 - Third-Generation REDA HPS multistage centrifugal pump has a modular design that provides a cost-effective solution for various applications, from simple water injection to more complex refinery services and crude oil transfer. It is an efficient alternative to splitcase, vertical turbine, and positive displacement pumps. Because of the modular design and factory alignment, restarting the pump is a simple procedure. The third-generation REDA HPS surface pump requires no daily maintenance. The consistent performance and low vibration extend equipment life and greatly reduce the chance of leakage from associated piping.
- April 2021 - Impeller upgrade reduced vibration and improved performance for ten amine pumps in Malaysia. A gas-sweetening plant in Malaysia had been using 10 Baker Hughes 8x15 BF, two-stage BB1 amine pumps. For the last few years, the pumps have experienced recurring high vibration and impeller damage, such as cavitation erosion on the inlet suction side and disk brake at the impeller outlet. With Baker Hughes operations, vibration reduced up to 75% (no contact value) and 80% (velocity value), reduced fluid dynamic forces, increased reliability, and reduced future maintenance costs.
APAC Centrifugal Pumps Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions 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 Consumers
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 Asia-Pacific Centrifugal Pumps Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rapid Industrialization and Urbanization
5.1.2 Increasing Investments in Urban Waste-Water Sector
5.1.3 Demand for Energy-efficient Pumps
5.2 Market Challenges
5.2.1 Formation of Cavitation along with Proper Priming Requirements
5.2.2 Chemical Compatability Issues
6. MARKET SEGMENTATION
6.1 By Flow Type
6.1.1 Axial
6.1.2 Radial
6.1.3 Mixed
6.2 By Number of Stages
6.2.1 Single Stage
6.2.2 Multi Stage
6.3 By End-User Industry
6.3.1 Oil & Gas
6.3.2 Chemicals
6.3.3 Food & Beverages
6.3.4 Water & Wastewater
6.3.5 Pharma
6.3.6 Power
6.3.7 Construction
6.3.8 Metal & Mining
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Baker Hughes Company
7.1.2 EBARA Pumps Europe S.p.A
7.1.3 Flowserve Corporation
7.1.4 KSB SE & Co.
7.1.5 Ruhrpumpen Group
7.1.6 Schlumberger Limited.
7.1.7 Sulzer Ltd
7.1.8 The Weir Group PLC
7.1.9 Dover Corporation
7.1.10 Xylem
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
APAC Centrifugal Pumps Industry Segmentation
The Asia-Pacific Centrifugal Pumps Market is Segmented by Flow Type (Axial, Radial, Mixed), by Number of Stages (Single Stage, Multi Stage), and by End-User Industry (Oil & Gas, Chemicals, F&B, Water & Wastewater, Pharma, Power, Construction, Metal & Mining)
| By Flow Type | |
| Axial | |
| Radial | |
| Mixed |
| By Number of Stages | |
| Single Stage | |
| Multi Stage |
| By End-User Industry | |
| Oil & Gas | |
| Chemicals | |
| Food & Beverages | |
| Water & Wastewater | |
| Pharma | |
| Power | |
| Construction | |
| Metal & Mining |
APAC Centrifugal Pumps Market Research FAQs
What is the current APAC Centrifugal Pumps Market size?
The APAC Centrifugal Pumps Market is projected to register a CAGR of 5.70% during the forecast period (2024-2029)
Who are the key players in APAC Centrifugal Pumps Market?
Baker Hughes Company, Flowserve Corporation, The Weir Group PLC, Schlumberger Limited. and Sulzer Ltd are the major companies operating in the APAC Centrifugal Pumps Market.
What years does this APAC Centrifugal Pumps Market cover?
The report covers the APAC Centrifugal Pumps Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the APAC Centrifugal Pumps Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
APAC Centrifugal Pumps Industry Report
Statistics for the 2024 APAC Centrifugal Pumps market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. APAC Centrifugal Pumps analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
