The oil and gas industry is one of the main end-use industries for high-pressure centrifugal pumps, which is one of the factors driving the high-pressure centrifugal pump market. In the oil and gas business, these pumps are employed in a variety of applications, including the transfer of hydrocarbons and the injection of water.
Another significant end-use sector for high-pressure centrifugal pumps is the chemical industry. These pumps are employed in a variety of processes, including the transfer of caustic substances like acids, alkalis, and other chemicals. In water treatment facilities, high-pressure centrifugal pumps are also employed for a number of processes, including desalination, reverse osmosis, and others.
Due to the increased demand from numerous end-use sectors, high-pressure centrifugal pumps are becoming more and more necessary. These pumps are employed in numerous industrial applications, including the transfer of liquids, syrups, pastes, and others. The market for high-pressure centrifugal pumps is predicted to expand significantly over the course of the forecast period.
The high-pressure centrifugal pump has a number of benefits that are expected to drive market expansion in the next years. Some benefits include the fact that these pumps are far more efficient than other kinds of pumps on the market. As the working speed of these pumps improves, so does their efficiency. As there are fewer moving components in these pumps, the maintenance cost is fairly minimal. As a result, the pump experiences less wear and tear, which lowers the cost of maintenance. These pumps are capable of working under extremely high pressures. They have a centrifugal impeller that produces high pressure as part of their design, which is why this is the case.
A high-pressure centrifugal pump is a type of pump that generates high pressures using centrifugal force. In industrial settings where high pressures are necessary, such as in the production of oil and gas, chemical processing, and water treatment, this kind of pump is frequently utilised. Centrifugal force is used by high-pressure centrifugal pumps to create high pressures. A high-speed impeller inside the pump is used to accomplish this. The liquid is thrown outward from the pump's centre by the centrifugal force created by the impeller, where it is released at high pressure.
The market for high-pressure centrifugal pumps is anticipated to increase at a CAGR of 4.92% between 2021 and 2031, reaching a value of $5.47 billion by that year.
One of the biggest obstacles limiting the growth of this market is the high initial investment and maintenance costs related to these pumps. Another difficulty that market participants encounter is the shortage of competent manpower for the installation and use of these pumps. However, it is anticipated that in the upcoming years, the growing demand from the oil and gas industry would present new chances for market players.
Sulzer Ltd., KSB SE & Co. KGaA, Flowserve Corporation, Grundfos Holding A/S, The Weir Group PLC, SPX FLOW Inc., Xylem Inc., Gardner Denver Holdings Inc., Ebara Corporation, and ITT Inc. are a few of the major companies active in the worldwide high-pressure centrifugal pump industry.
The Horizontal Pump Type to Emerge as the Most Lucrative Segment
Vertical Pump and Horizontal Pump are the two varieties of High-Pressure Centrifugal Pumps available on the market. This group's horizontal pump sector is anticipated to experience the largest CAGR growth throughout the course of the forecast. The horizontal pump market is anticipated to expand at the fastest rate during the forecast period as a result of its broad range of applications, including those in the water treatment plants, chemical, food, and beverage, and oil and gas industries. For high-pressure centrifugal pumps, the Vertical Pump category is thought to be the second-largest market.
The Most Popular Application Segment is Oil and Gas
The High-Pressure Centrifugal Pump Market is divided into Oil and Gas, Chemical Industry, Food and Beverage, Water Treatment, and Others based on applications. Among them, the oil and gas industry is anticipated to contribute the most to market expansion. The oil and gas business is anticipated to expand quickly in the upcoming years as a result of the increasing need for energy. Due to this, there will be an increase in demand in this market for high-pressure centrifugal pumps. Due to the rising demand for processed and packaged foods, the food and beverage industry is also anticipated to expand significantly.
The Asia Pacific (APAC) region to render Adequate Financing Avenues
High-pressure centrifugal pumps are thought to have the fastest expanding market in the Asia Pacific area, followed by North America and Europe. The Asia Pacific region is expanding as a result of increasing urbanisation and industrialisation, which has led to a rise in the need for high-pressure centrifugal pumps in this area. Over the forecast period, a moderate rate of growth is anticipated for the North American and European markets. As oil and gas development operations in the Middle East and Africa increase, rapid growth in the high-pressure centrifugal pump market is anticipated. Over the projected period, the high-pressure centrifugal pump market is also anticipated to expand significantly in South America.
COVID-19 Impact and Market Status
The COVID-19 pandemic outbreak has caused significant disruptions to daily operations around the globe. This outbreak has also had a negative impact on the high-pressure centrifugal pump market. Because of the strict regulations put in place by governments in various nations, the manufacture and supply of these pumps have been hindered. These pumps are now difficult to get on the market as a result of this. Aside from that, the pandemic-related slowdown in economic activity has also resulted in a decrease in demand for these pumps. In spite of this, once the world economy starts to improve, the market is anticipated to bounce back.
Latest Innovations in the Global High-Pressure Centrifugal Pump Market: A Snapshot
• Cetec Holding, a supplier of pumps and related systems for sanitary applications in the food, beverage, and life science industries, was bought by Alfa Laval in January 2019. The purchase was made to improve Alfa Laval's standing in the market for hygienic pumps and to increase the range of goods and services it provides to the food, beverage, and life science sectors.
• Sulzer introduced the new ABS SF centrifugal sewage pump in February 2019. The new pump is intended for use in pumping stations and wastewater treatment plants.
• Multibody Pumps & Systems Pvt. Ltd., an Indian manufacturer of centrifugal pumps, was purchased by Kirloskar Brothers in March 2019. The purchase was meant to increase Kirloskar Brothers' market share in India.
High Pressure Centrifugal Pump Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||USD 5.47 billion|
|Growth Rate||CAGR of 4.92% during 2021-2031|
|Segment Covered||by Type, by Deployment, By Application, by Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Sulzer Ltd., KSB SE & Co. KGaA, Flowserve Corporation, Grundfos Holding A/S, The Weir Group PLC, SPX FLOW Inc., Xylem Inc., Gardner Denver Holdings Inc., Ebara Corporation, and ITT Inc.|
Key Segment of Global High-Pressure Centrifugal Pump Market
By Type Overview 2021-2031, ($ Billion)
• Horizontal Pump
• Vertical Pump
By Application Overview 2021-2031, ($ Billion)
• Oil and Gas
• Chemical Industry
• Food and Beverage
• Water Treatment
By Region Overview 2021-2031, ($ Billion)
• Rest of Asia Pacific
• Rest of North America
• Rest of Europe
Middle East and Africa