The global Vertical Multistage Centrifugal Pump Market is estimated to be valued at US$ 4705.3 Mn in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Vertical multistage centrifugal pumps are used to transfer liquids from a low-lying position to an overhead position through pipes. They are used in industries like oil & gas, chemical, and power generation for transferring liquids over long distances at high discharge pressures.
Market key trends:
Growing industrialization especially in developing regions of Asia Pacific and Latin America are supporting the growth of vertical multistage centrifugal pumps market. Industrial sectors like manufacturing, chemicals, oil & gas, and power generation require liquid transfer over long distances at high discharge pressures which is effectively addressed by vertical multistage centrifugal pumps. Technological advancements focused on energy efficient pumping solutions, integration of variable frequency drives, and material upgrades are helping pump OEMs to provide customized solutions according to end-use requirements.
Segment Analysis
The global vertical multistage centrifugal pump market is segmented on the basis of duty, stage, end-use vertical and region. Based on duty, the market is segmented into submersible and dry installed. The submersible segment is expected to dominate the market over the forecast period, owing to its compact design and ability to pump water from great depths.
Key Takeaways
The global vertical multistage centrifugal pump market is expected to witness high growth, exhibiting CAGR of 3.3% over the forecast period, due to increasing demand for efficient pumping systems in industries.
Regional analysis
Regionally, Asia Pacific is expected to witness highest growth in the vertical multistage centrifugal pump market due to rapid industrialization and increasing demand from wastewater treatment and agricultural industries in countries like China and India. North America and Europe are also projected to hold significant shares in the global market.
Key players analysis
Key players operating in the vertical multistage centrifugal pump market are Pentair Water Groups, Grundfos, C.R.I. Pumps Private Limited, Crane Engineering, Carver Pump Company, Oswal Pumps Limited, National Oilwell Varco., Desmi, Dab Pumps Spa P.I., Baiyun, Shakti Pumps (I), Xylem, Inc., Kolmeks Oy, and Lenntech B.V. Among these, Pentair Group and Grundfos are identified as the market leaders owing to their extensive product portfolio and strong global presence.
