The North America Centrifugal Pump Market would witness market growth of 4.9% CAGR during the forecast period (2023-2030).
The centrifugal pump is a commonly used pump designed for various applications. It is interconnected with several industry verticals to effectively transfer liquids in large volumes, providing optimum flow rates and dynamic head to the fluids. The wastewater treatment, chemical, and petrochemical sectors employ centrifugal pumps extensively. These pumps are essential for wastewater treatment procedures like sludge handling, sewage transfer, and effluent treatment. The need for centrifugal pumps is anticipated to rise as there is an increasing emphasis on environmental preservation and stricter rules for wastewater management.
The construction of additional water treatment plants around the region is anticipated to be fueled by the increasing population and water demand in various industries, allowing the water & wastewater industry to expand.
Canada's oil & gas and food & beverage sectors are well-developed, and the government has made significant investments in these sectors. Due to the vast oil and gas operations, the nation is also one of the top importers of centrifugal pumps. Canada is fifth in the production of natural gas and fourth in the production of crude oil. The oil sands are found in 97% of Canada's proven oil reserves. Approximately 2 million barrels of crude oil can be refined daily in Canadian refineries. In 2020, Canada produced 46 million tons of coal, of which 57% was used in steel production. The country has many crude oil sources and rigs, accounting for the demand. Another application area that contributes significantly to Canada's market's revenue is the chemical industry. Hence, this region presents lucrative opportunities to expand the regional market.
The US market dominated the North America Centrifugal Pump Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $11,401.7 million by 2030. The Canada market is poised to grow at a CAGR of 7.2% during (2023 - 2030). Additionally, The Mexico market would witness a CAGR of 6.3% 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 U.S., Mexico, Canada, and Rest of North America.
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.
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By Operation Type
By End User
By Country
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