Market Size of APAC Centrifugal Pumps Industry
| 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 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 Size Summary
The Asia-Pacific centrifugal pumps market is poised for significant growth, driven by urbanization and infrastructure development, particularly in China and India. The demand for these pumps is expected to rise in sectors such as power generation and wastewater treatment, fueled by government initiatives and subsidies promoting energy-efficient solutions. Despite challenges posed by the COVID-19 pandemic, which disrupted manufacturing and supply chains, the market is recovering as countries focus on enhancing their infrastructure. The region's pump efficiency is currently lower than that of developed areas, primarily due to a focus on initial costs over long-term savings. However, ongoing investments in infrastructure and energy efficiency mandates are anticipated to benefit major international companies and stimulate market expansion.
The centrifugal pumps market in the Asia-Pacific region is characterized by robust competition, with key players like Baker Hughes, Flowserve, and Sulzer actively expanding their market presence through strategic partnerships and acquisitions. The increasing demand for efficient pumps in water and wastewater treatment, coupled with stricter environmental regulations, is expected to drive market growth. Innovations in pump technology and automation in treatment facilities are also contributing to the market's development. As countries like India and China continue to invest in industrialization and urbanization, the centrifugal pumps market is set to experience substantial growth, offering numerous opportunities for manufacturers and suppliers.
APAC Centrifugal Pumps Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Consumers
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1.2.3 Threat of New Entrants
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1.2.4 Threat of Substitutes
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1.2.5 Intensity of Competitive Rivalry
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1.3 Industry Value Chain Analysis
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1.4 Impact of COVID-19 on the Asia-Pacific Centrifugal Pumps Market
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2. MARKET SEGMENTATION
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2.1 By Flow Type
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2.1.1 Axial
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2.1.2 Radial
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2.1.3 Mixed
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2.2 By Number of Stages
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2.2.1 Single Stage
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2.2.2 Multi Stage
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2.3 By End-User Industry
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2.3.1 Oil & Gas
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2.3.2 Chemicals
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2.3.3 Food & Beverages
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2.3.4 Water & Wastewater
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2.3.5 Pharma
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2.3.6 Power
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2.3.7 Construction
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2.3.8 Metal & Mining
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APAC Centrifugal Pumps Market Size 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.
