Centrifugal Pumps Market Predicted To Value US$ 48.3 Bn By 2025

Posted by Vinay on October 31st, 2017

Refurbishing of ageing manufacturing plants and pumping systems, combined with increasing exploration activities for new sources of water is driving global demand for centrifugal pumps. However, long replacement cycles and proliferation of low cost pumps made in China, can pose challenges to growth. These insights are according to FMI’s new report, “Centrifugal Pumps Market: Global Industry Analysis and Opportunity Assessment, 2015-2025”, which estimates global centrifugal market revenues to increase at 4.6% CAGR and reach US$ 48.3 Bn by 2025.

The key trends identified in the centrifugal pumps market include preference for energy-efficient centrifugal pumps, high adoption of micro-disc pumping, and incorporation of variable frequency drive technology. Reducing the pump life cycle costs and development of supply chain network are key opportunities that leading players will look to leverage on going forward.

FMI’s report offers 10-year forecast on the basis of product type, end-use, and region.

View Full Report TOC, Figures and Tables @ https://www.futuremarketinsights.com/reports/centrifugal-pumps-market

Key centrifugal product types covered in the report include Single-stage pump,Multi-stage pump,Axial & mixed flow pump, Submersible pump,Sealless and circulator flow pump.

Among these, demand for submersible pumps is the highest, with this segment accounting for nearly 28% revenue share of the global centrifugal pump market in 2015. FMI estimates demand for submersible pumps to increase at 5.4% CAGR through 2025.

On the basis of end-use, the centrifugal pump market has been segmented into Industrial, Agricultural,Domestic.

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