Global Centrifugal Pumps Market 2017-2021
About Centrifugal Pumps
Centrifugal pump is mainly used to move the fluids from one place to another. It is also used to control the flow rate of a liquid. It converts the rotational kinetic energy to the hydrodynamic energy to move the fluids. Centrifugal pumps are mainly divided into three product types: axial pumps, mixed pumps, and radial pumps.
Technavio’s analysts forecast the global centrifugal pumps market to grow at a CAGR of 4.05% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global centrifugal pumps market for 2017-2021. To calculate the market size, the report considers new installations, retrofits, and replacements.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Centrifugal Pumps Market 2017-2021
Technavio recognizes the following companies as the key players in the global centrifugal pumps market: Flowserve, ITT, Sulzer, KSB, and Pentair.
Other Prominent Vendors in the market are: Atlas Copco, Dandong Colossus & Co, John Crane, EBARA Corporation, Siemens, Apex Pumps, Carver Pump, Dencil Pumps, KTR Kupplungstechnik, and Castle Pumps.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing mergers and acquisitions. Most vendors of the global centrifugal pumps market are opting for long-term contracts due to heavy competition and fluctuating raw material prices. Therefore, vendors are opting for mergers and acquisitions to expand their business operations and tackle the competition.”
According to the report, one driver in the market is growing importance for increasing efficiency and reducing operational cost. Most end-users are upgrading their existing machinery and equipment to improve efficiency, reduce operational cost, and integrate all operational functions. Growing awareness among end-users about the need for energy savings is one of the reasons for the upgrade and modernization of plants. Most governments around the world are imposing strict regulations to control the energy consumptions.
Further, the report states that one challenge in the market is volatility in raw material prices. Unstable raw material prices affect the cost of production, and many prominent vendors are choosing a long-term contract with their suppliers to overcome the fluctuating raw material prices. This strategy is not feasible for small vendors who are adversely affected by the fluctuating raw material prices. Stainless steel, iron, bronze, and copper are major raw materials used for centrifugal pumps.
Flowserve, ITT, Sulzer, KSB, Pentair, Atlas Copco, Dandong Colossus & Co, John Crane, EBARA Corporation, Siemens, Apex Pumps, Carver Pump, Dencil Pumps, KTR Kupplungstechnik, and Castle Pumps.
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