Centrifugal Pump Market Size

Centrifugal Pump Market size is set to surpass USD 68 Billion by the end of 2035, growing at a CAGR of 6% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of centrifugal pump was over USD 37 Billion. The growth of the market can be attributed to the growing need for treating wastewater. Centrifugal pumps are used in the primary treatment phase for pumping and churning the wastewater in primary setting tanks or sedimentation tanks in order to separate particles of solids from the liquid. According to new research conducted by scientists at Utrecht University and the United Nations University, around half of the world's wastewater is treated, rather than the prior estimation of 20%.

In addition to these, factors that are believed to fuel the growth of the centrifugal pump market. Pump makers have been able to create more efficient impellers and pump components given that to new technology such as improved computational fluid dynamics (CFD) and simulation software.