Centrifugal Pump Market is expected to reach US$ 55.58 Billion by 2031

Global Centrifugal Pump Market Forecast to 2031: Key Insights

According to our latest study on "Global Centrifugal Pump Market – Global and Regional Share, Trend, and Growth Opportunity Analysis – by Stage, Design, End User, and Geography," the market was valued at US$ 38.29 billion in 2024 and is expected to reach US$ 55.58 billion by 2031. The Centrifugal Pump Market size is estimated to register a CAGR of 5.7% during 2025–2031. Technological advancements in centrifugal pumps have improved their overall performance, safety, and efficiency. Manufacturers are integrating IoT technology in pumps to provide advanced products to end users. The GPS tracking and telematics sensors in the pumps offer precise monitoring and diagnostics that reduce downtime. Modern centrifugal pumps come with remote handling and boom stability technology, which ensures enhanced worker safety at the construction site and reduces accident cases. Further, with the help of sensors, end users can track the concrete's energy usage and requirements stats, which helps reduce overall energy consumption. Rising demand for IoT-enabled pumps will likely emerge as a centrifugal pump market trend in the coming years.

The need for such advanced technology is increasing, considering the ongoing sustainability trends. With the help of fleet management solutions integrated into the centrifugal pumps, end users can monitor the fleet for operational efficiency and predictive maintenance. With the increasing demand for IoT technology and growing sustainability trends, pump manufacturers are undertaking initiatives to provide innovative concrete pump solutions.

Centrifugal Pump Market Analysis — by Geography

Source: The Insight Partners Analysis

In April 2023, Sulzer and Siemens Large Drives Applications (LDA) used their collective expertise to provide operators of large centrifugal pumps with an enhanced digital value proposition: Bringing together their IoT platforms and services, BLUE BOX™ and SIDRIVE IQ. The two companies are collaborating to deliver an integrated solution that improves equipment reliability and cuts operations costs. Similarly, in October 2024, KSB GIW, Inc., a global leader in heavy-duty centrifugal slurry pump design and manufacturing, announced the acquisition of a substantial equity stake in AIMS/PIP360, an electronics firm specializing in ultrasonic sensors and data analysis. Such technological advancements and sustainability trends drive the adoption of centrifugal pumps.

 With the growing demand for air cargo from the pharmaceutical industry, market players are undertaking strategic initiatives to keep pace with the fast-growing pharmaceutical market. For instance, Emirates developed "Cool Dolly," which can safely transport pharma materials from a plane to a cool-chain facility or as a temporary storage area between trans-shipment. Further, regions have set targets for expanding their respective cargo capacities. Saudi Arabia's National Aviation Strategy aims to handle 4.5 million tonnes of cargo annually by 2030, expanding direct connections to over 250 destinations. Latin American carriers increased capacity to the US and Europe, capitalizing on high-tech and perishable cargo flows. Similarly, in 2024, Vienna Airport reported record air cargo volumes, reflecting Europe's strong performance.

Surging Industrial Investments Drive Global Centrifugal Pump Market Growth

Over the past few years, global economic growth has strengthened at a steady pace owing to increasing investments in the industrial sector. As per the data published by the Peterson Institute for International Economics in 2024, business investments in the US manufacturing sector rose from US$ 290 billion in 2019 to ~US$ 500 billion in 2023. As per the data published by the government of Canada, the nation's total foreign direct investment (FDI) rose by 6% from 2021 to 2022, reaching a value of US$71 billion. The Canadian industry witnessed an 86.3% increase in investments from companies based in Singapore and a 23.6% increase from Australia-based companies between 2018 and 2022.

In April 2025, the Spanish government invested ~US$ 226.3 million in three projects in Spain. This investment is a part of a US$ 1.5 billion investment focused on improving Spain's domestic manufacturing capacity. In May 2024, Italy invested ~US$ 11 billion in the semiconductor production industry. As per data published by the Indian government in 2025, FDI in the Indian manufacturing sector reached US$ 165.1 billion in 2024, witnessing a 70% hike from 2023. In the last five years, FDI in the Indian manufacturing sector totaled US$ 383.5 billion. According to the data published by the Malaysian Investment Development Authority (MIDA) in 2025, direct investments in the Malaysian manufacturing sector reached ~US$ 30 billion in 2024, of which foreign investments were ~75%, whereas domestic investments were 25%. This industrial growth is fuelling the demand for industrial gases for industrial processes to produce final products, driving centrifugal pump market growth.

Global Centrifugal Pump Market: Segmental Overview

By end user, the Centrifugal Pump Market is divided into industrial, residential, agriculture, and commercial. The industrial segment includes water and wastewater management, power generation, oil & gas, chemical, food and beverages. Leading manufacturers serving the centrifugal pump market include Grundfos, Xylem Inc., Sulzer, KSB, Flowserve, and EBARA Corporation. These companies invest in R&D, smart technologies, and customer service to provide energy-efficient, application-specific, and digitally enabled pumping solutions tailored to diverse industrial needs.

Due to continuous demand for fluid transport systems, the oil and gas sector is one of the most critical industries for the centrifugal pump market. Centrifugal pumps are used across the upstream (exploration and production), midstream (transportation and storage), and downstream (refining and petrochemicals) segments. Global energy demand is rising, particularly in emerging economies, leading to increased oil exploration and production activities. Refinery expansions, especially in the Asia-Pacific and Middle East regions, fuel pump demand. Enhanced oil recovery (EOR) techniques, which rely heavily on high-pressure centrifugal pumps, are gaining traction to improve extraction efficiency from aging fields. In North America, shale oil and gas development fuels the need for robust and efficient centrifugal pumping systems capable of handling abrasive and high-pressure applications.

Global Centrifugal Pump Market Analysis: Competitive Landscape and Key Developments

The global Centrifugal Pump Market report emphasizes factors driving the market and prominent players' developments. Ebara Corp, Grundfos Holding AS, KIRLOSKAR BROTHERS LIMITED, Sulzer Ltd, The Weir Group PLC, Xylem Inc., Gorman-Rupp Pumps, Fives SAS, Atlas Copco AB, and Parker Hannifin Corp are among the prominent players profiled in the global Centrifugal Pump Market report. These players focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities.

• In April 2025, Sulzer partnered with Manweir WLL, a leading engineering services provider, the oil & gas arm of Mannai Corporation, to enhance the availability and quality of rotating equipment repairs and services across Qatar. Sulzer’s teams will be based at Manweir’s Ras Laffan facility in Qatar to provide in-country services for oil and gas, power generation, water desalination, and industrial customers.
• In February 2025, Gorman-Rupp announced the latest additions to the Gorman-Rupp 6400 Series, now available in 6” and 8” models. These new sizes enhance performance, offering flow rates up to 2,750 GPM and total dynamic head exceeding 120 feet.

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