The Europe Centrifugal Pump Market would witness market growth of 5.1% CAGR during the forecast period (2023-2030).
Growth is being aided by several technological developments, including the use of modeling tools and the invention of 3D-printed impellers. These improvements help increase output pressure and flow rate while improving pump performance and lowering production costs. Additional reasons, such as increasing demand for energy-efficient pumps and greater expenditures on desalination in industrial facilities, are anticipated to boost the market revenue even more.
Additionally, the industry is moving in the direction of utilizing the Internet of Things, which will allow pump operators to remotely flow rate, monitor velocity, and other factors. For reporting, runtime, and the full presentation of operational data, intelligent assistant technologies are being created. All pump parameters, particularly speed, rate of flow, and dispensing volume, will be under real-time control owing to the technology. For operational circumstances and error messages, push notifications will send alerts.
The demand is increasing in Europe, owing to considerable expenditure in the oil and gas sector, technological developments in the construction industry, and an increase in the usage of water in mining activities. For example, construction is underway on the 55-kilometer-long Brenner Base Tunnel, the German-Austrian rail route's extension expected to be completed in 2028. Germany led all EU Member States in net energy generation in 2021, contributing 20.1% of the EU's overall output, just ahead of France (19.1%). Similarly, the Pharmaceutical Strategy for Europe, adopted on November 25, 2020, aimed to build a future-proof regulatory framework and assist the industry with advancing research and technologies that help patients meet their therapeutic requirements. With the expansion of the region's industries, the requirement for centrifugal pumps is bound to increase in the coming years.
The Germany market dominated the Europe Centrifugal Pump Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3,385.3 million by 2030. The UK market is exhibiting a CAGR of 4.2% during (2023 - 2030). Additionally, The France market would showcase a CAGR of 5.8% during (2023 - 2030).
Based on Stage, the market is segmented into Single Stage and Multi Stage. Based on Type, the market is segmented into Overhung Impeller, Between Bearing and Vertically Suspended. Based on Operation Type, the market is segmented into Electrical, Hydraulic, and Air-driven. Based on End User, the market is segmented into Industrial (Water & Wastewater, Mining & Metal, Oil & Gas, Agriculture, Power Generation, Pharmaceuticals, Pulp & Paper, Chemicals and Others) and Commercial & Residential. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Centrifugal Pump Market is Projected to reach USD 55.2 Billion by 2030, at a CAGR of 5.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Flowserve Corporation, KSB SE & Co. KGaA, Xylem, Inc., Ebara Corporation, Baker Hughes Company, Kirloskar Brothers Limited (Kirloskar Group), The Weir Group PLC, Pentair PLC, Schlumberger N.V. and Alfa Laval AB.
By Stage
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By End User
By Country
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