Centrifugal Pump Market Growth, Development and Demand Forecast Report

This will propel the demand for centrifugal pumps, the sale of which could fetch a massive USD 55.14 billion by 2030, as per P&S Intelligence.

The earth is currently home to 8 billion of us, and our numbers are going to increase to over 10 billion by 2100, as per the UN. This will raise the demand for food and water, both of which continue to become scarcer by the day. 

A centrifugal pump is the kind of water pump we see in our homes. Wherever water is needed, centrifugal pumps come into the picture, be it homes, farms, industries, or just about anywhere else. By 2030, experts predict that the demand for water for drinking, cooking, and other human uses will be 40% higher than the available supply.

This will make the exploration of newer sources of water, including the underground sources and aquifers, more important than ever. This will drive the demand for high-output-power centrifugal pumps to channel the water from the underground sources to a processing facility and then from there, to homes, factories, and wherever else it is needed.

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Further, a hydroelectric power station is all about harnessing the force of moving water to turn the turbine. Here, pumps are required to bring water from the reservoir into the duct that slants toward the turbine, thus running the rotor with the force of the falling water. Further, pumps are required to release the water with all its kinetic energy lost to the flowing river, or in cases when the reservoir is nearing the danger level, like in the rainy season.

Further, the utility of these pumps arises because of their ability to not only pump water, but other fluids as well, including oils and liquid chemicals, including alcohols. This is what makes them so important in the oil & gas sector, to pump crude oil from offshore and onshore wells to a refinery or ships and for long-distance transportation via pipelines.

Hence, with the increasing population pushing up the level of urbanization and industrialization, the demand for centrifugal pumps for residential, industrial, and commercial use will continue to balloon.