Self-Priming Centrifugal Pump Market size is anticipated to reach USD 64 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of self-priming centrifugal pump was over USD 33 Billion. A self-priming centrifugal pump may pump a variety of fluids that are contaminated, which could reduce the efficiency of the system. Thus, keeping the pumps in good working order is essential to extending the life and overall efficiency of the items. The Internet of Things (IoT), network-based monitoring, and many other cutting-edge technologies have been effectively shown by several industry players to remotely identify problem conditions. As per a report, by the end of 2019, it was anticipated that the size of Internet of Things (IoT) end-user solutions would reach USD 212 billion. The technology's revenue crossed USD 100 billion for the first time in 2017, and projections indicate that by 2025, it will have grown to over USD 1.6 trillion.
In addition, the self-priming centrifugal pump market will rise as a result of the manufacturing sector's expansion and the quickly growing residential and commercial infrastructure. The fast urbanization caused by rising to build industry investment is credited with the growth. The expansion of the market is responsible for the increased demand for these kinds of pumps in the agricultural industry.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
~ 5% |
|
Base Year Market Size (2023) |
~ USD 33 Billion |
|
Forecast Year Market Size (2036) |
~ USD 64 Billion |
|
Regional Scope |
|
Product Type (Multistage, Single Stage)
Single stage segment for the self-priming centrifugal pump market is expected to hold the largest share of 56% during the forecast period. Single stage centrifugal pumps are the most generally utilized form of centrifugal pump since they are used in so many different applications. Their relatively cheaper maintenance costs in comparison to multistage pumps are one of their advantages. The market is expanding as a result of the increased emphasis on updating current wastewater treatment and water delivery facilities. The need for single stage centrifugal pumps is also being driven by higher investments being made to open new production sites. Moreover, the segment's expansion is aided by continuing advancements in the oil and gas industry. Also, the growing production of oil and gas is propelling the growth of the segment. For instance, Saudi Arabia, Russia, and the United States are the three countries that produce the most oil worldwide. In 2022, the combined output of these three nations was close to 40 million barrels of oil per day. That comes to 43.29 million barrels per day or 43.4% of global production.
Drive Type (Electric, Diesel)
The electric segment in self-priming centrifugal pump market is anticipated to grow majorly with a share of 52% by the end of 2036. Long-term cost-effectiveness is increased by the electric pumps' design, which uses less electricity while maintaining good performance. They also require less maintenance than conventional pumps, which lowers operating costs and downtime for companies. The increased focus on environmental sustainability is another element. Electric pumps are the favored option for industries looking to lessen their environmental effect because they emit fewer emissions and have a smaller carbon footprint. Finally, because of their adaptability, they can be employed in a variety of scenarios, including municipal wastewater treatment, construction dewatering, and agriculture.
Our in-depth analysis of the global self-priming centrifugal pump market includes the following segments:
|
Product |
|
|
Drive Type |
|
|
Head-size |
|
|
Horsepower |
|
|
Application |
|
European Market Forecast
European self-priming centrifugal pump market is expected to hold the largest share of 37% during the projected period. Several reasons, such as the growing need for water & wastewater management, increasing industrialization, and government attempts to improve water management, are driving the development of the market in Europe. The region’s growing population and industry are producing more wastewater, which requires efficient treatment. For instance, nearly 55 billion cubic meters of wastewater were produced in Europe in 2020. With 12.3 billion cubic meters produced, wastewater from Russia was the most that year. With 5.7 billion cubic meters, Spain came in second. The need for self-priming centrifugal pumps in the region is thus being driven by this. The market is anticipated to expand in the next years due to the growing demand in Europe for self-priming centrifugal pumps.
APAC Market Statistics
Self-priming centrifugal pump market in Asia Pacific is poised to hold a share of 27% during the forecast period. The pump manufacturers have stepped up their communication with process consultants and end users, updating them on the latest innovations in technology and international best practices in the region. The majority of regional and international players providing centrifugal pump offers are constrained by the existence of numerous players supplying inexpensive centrifugal pumps. Key suppliers are under increasing pressure to provide high-quality, dependable, efficient, and technologically sophisticated centrifugal pumps at competitive rates as a result of increased pricing pressure from these players. Therefore, these factors are propelling the self-priming centrifugal pump market growth in the region.
Author Credits: Rushikesh, Richa Gupta
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?