Report : Europe Centrifugal Pump Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Stage (Single Stage and Multistage), Operation Type (Electric, Hydraulic, and Air Driven), Type (Overhung Impeller, Vertically Suspended, and Between Bearing), and Sector (Oil and Gas, Chemicals and Petrochemicals, Mining, Power Generation, Automotive, Agriculture, HVAC, Wastewater Management, and Others)
Single Stage Segment to Dominate Europe Centrifugal Pump Market During 2021–2028
According to a new market research study on “Europe Centrifugal Pump Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Stage, Operation Type, Type, and Sector” is expected to reach US$ 14,791.72 million by 2028 from US$ 10,537.99 million in 2021. The market is estimated to grow at a CAGR of 5.0% from 2021 to 2028. The report provides trends prevailing in the Europe centrifugal pump market along with the drivers and restraints pertaining to the market growth. Growth of construction industry and rising use of water in mining activities are the major factor driving the growth of the Europe centrifugal pump market. However, cavitation in centrifugal pumps hinders the growth of Europe centrifugal pump market.
In case of COVID-19, Europe is highly affected specially the UK. Businesses are suffering from financial crises as they had to either suspend their operations or reduce their activities substantially to abide by the social distancing norms and lockdown impositions. Europe is one of the major regions which is observing significant growth in infrastructure and construction activities. Also, the demand for water and waste management is rising significantly over the years. Due to the presence of giant manufacturers, which are known for the high adoption of centrifugal pumps, the centrifugal pump market in Europe is expected to gain back its growth pace during the forecast period. However, disrupted supply chains in several European countries and fall in demand have been limiting the performance of manufacturing sector, including the pump manufacturing businesses. Business shutdowns and travel bans have been restricting the growth of various sectors in Europe, which led to an economic slump in many European countries in 2020; the effect of this slowdown is likely to persist in 2021 as well.
The Europe centrifugal pump market is segmented based on stage, operation type, type, sector, and country. Based on stage, the market is sub-segmented into single stage and multistage. The single stage segment dominated the Europe centrifugal pump market in 2020 and multistage segment is expected to be fastest growing during forecast period. Based on operation type, the market is categorized into electric, hydraulic, and air driven. The electric segment dominated the Europe centrifugal pump market in 2020 and hydraulic segment is expected to be fastest growing during forecast period. Based on type, the market is segmented into overhung impeller, vertically suspended, and between bearing. The overhung impeller segment dominated the Europe centrifugal pump market in 2020 and vertically suspended segment is expected to be fastest growing during forecast period. Based on sector, the market is segmented into oil and gas, chemicals and petrochemicals, mining, power generation, automotive, agriculture, HVAC, wastewater management, and others. The wastewater management segment dominated the Europe centrifugal pump market in 2020 and agriculture segment is expected to be fastest growing during forecast period. Based on country, the market is segmented into the UK, Germany, France, Italy, Russia, and rest of Europe.
EBARA CORPORATION; Grundfos Holding A/S; KIRLOSKAR BROTHERS LIMITED; KSB SE & Co. KGaA; PLEUGER INDUSTRIES; Sulzer Ltd; The Weir Group PLC; Tsurumi Manufacturing Co., Ltd.; WILO SE; and Xylem Inc. are among the leading companies in the Europe centrifugal pump market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Wilo Se opens new assembly plant in Kuala Lumpur, Malaysia.
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