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Latin America Centrifugal Pumps Market Size (2024 - 2029)

The Latin America centrifugal pumps market is anticipated to experience growth driven by stringent energy and environmental regulations, which are expected to enhance market size. The oil and gas sector is projected to be the primary end-user, benefiting from technological advancements that facilitate deep-water explorations, thereby expanding market opportunities. Despite challenges posed by the COVID-19 pandemic, such as project delays and supply chain disruptions, the market's expansion is influenced by fluctuating crude oil and gas prices, which impact investment and project timelines.

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Market Size of Latin America Centrifugal Pumps Industry

Latin America Centrifugal Pumps Market
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR < 3.00 %
Market Concentration Medium

Major Players

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*Disclaimer: Major Players sorted in no particular order

Latin America Centrifugal Pumps Market Analysis

The Centrifugal pumps market is expected to register a CAGR of less than 3% during the forecast period 2022-2027.

  • The Stringent energy and environmental regulatory policies and legislation are projected to drive expansion in the Latin America centrifugal pumps market during the forecast period. According to the International Energy Agency's (IEA) 2014 policy, a motor-driven unit should ideally be built to produce 20-30% energy savings.
  • The oil and gas end-user segment is likely to dominate the centrifugal pumps market, owing to the increased use of different types of pumps in the upstream, midstream, and downstream sectors for a number of distinctly different applications.
  • Furthermore, technological developments that have enabled deep-water and ultra-deep-water explorations are likely to increase oil production and give market growth opportunities during the forecast period. for instance, Suriname produces oil from onshore fields managed by Staatsolie, including Calcutta, Tambaredjo, and Tambaredjo North West, with a target output of 16,500b/d in 2021. In addition to the usual preparations for a new licensing cycle, Staatsolie is planning to make a final investment decision for deepwater block 58, near Stabroek, next year to produce the first oil in 2025.
  • The COVID-19 pandemic has negatively impacted oil and gas activities in Latin America region. The decline was caused mainly due to delays in project construction activities and supply chain disruptions, which reduced demand for centrifugal pumps in this region.
  • However, volatile crude oil and gas prices are also likely to affect the centrifugal pumps market due to cost-cutting and delayed projects by the Exploration & Production companies.

Latin America Centrifugal Pumps Industry Segmentation

A centrifugal pump is a mechanical device that moves a fluid by transferring rotational energy from one or more driven rotors known as impellers.

The study tracks the market based on the revenues generated by different vendors operating in the centrifugal pumps market. The scope is limited to centrifugal pumps classified on different stages and provides qualitative analysis of impeller type. The market study doesn't offer a drill-down breakup of the regional shares for the countries.

 

By Stage
Single-stage Pumps
Multi-stage Pumps
Submersible Pumps
Seal less & Circular flow Pumps
Axial & Mixed Flow Pumps
End User
Oil and Gas
Chemical Processing
Food and Beverage
Water and Wastewater
Construction
Other End Users
By Impeller Type (Qualitative)
Open
Partially Open
Enclosed
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Latin America Centrifugal Pumps Market Size Summary

The Latin America centrifugal pumps market is poised for growth, driven by stringent energy and environmental regulations that encourage energy-efficient solutions. The oil and gas sector is expected to be the dominant end-user, with increased demand for pumps across upstream, midstream, and downstream operations. Technological advancements facilitating deep-water explorations are anticipated to further boost oil production, creating additional opportunities for market expansion. However, the market has faced challenges due to the COVID-19 pandemic, which caused delays in project construction and supply chain disruptions, impacting the demand for centrifugal pumps. Volatile crude oil and gas prices also pose a risk, potentially leading to cost-cutting measures and project delays by exploration and production companies.

Centrifugal pumps, particularly multistage variants, are crucial in various industrial applications due to their efficiency and ability to handle high-pressure fluids. The demand for these pumps is expected to rise as Latin America advances towards lower sulfur gasoline production, necessitating infrastructure upgrades. The region's crude oil consumption and ongoing offshore projects, especially in Brazil and Guyana, are set to drive investments in centrifugal pumps. The market is fragmented, with key players like Baker Hughes, Ebara Corporation, and KSB SE & Co. KGaA actively contributing to innovation and product development. Recent introductions, such as Weir Minerals' Multiflo and Mudflo pumps, highlight the industry's focus on efficient and sustainable solutions for challenging environments.

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Latin America Centrifugal Pumps Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Consumers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitutes Products and Services

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Supply Chain Analysis

    4. 1.4 Government Policies and Regulations

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Stage

      1. 2.1.1 Single-stage Pumps

      2. 2.1.2 Multi-stage Pumps

      3. 2.1.3 Submersible Pumps

      4. 2.1.4 Seal less & Circular flow Pumps

      5. 2.1.5 Axial & Mixed Flow Pumps

    2. 2.2 End User

      1. 2.2.1 Oil and Gas

      2. 2.2.2 Chemical Processing

      3. 2.2.3 Food and Beverage

      4. 2.2.4 Water and Wastewater

      5. 2.2.5 Construction

      6. 2.2.6 Other End Users

    3. 2.3 By Impeller Type (Qualitative)

      1. 2.3.1 Open

      2. 2.3.2 Partially Open

      3. 2.3.3 Enclosed

Latin America Centrifugal Pumps Market Size FAQs

The Latin America Centrifugal Pumps Market is projected to register a CAGR of less than 3% during the forecast period (2024-2029)

Wilo SE, Baker Hughes Company, Sulzer Ltd, Schlumberger Ltd and KSB SE & Co. KGaA are the major companies operating in the Latin America Centrifugal Pumps Market.

Latin America Centrifugal Pumps Report Snapshots

Latin America Centrifugal Pumps Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)