Centrifugal Pump Market Projected to Grow at a 4.01% CAGR

New York, US, Oct. 21, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR),”Centrifugal Pump Market Research Report: Information by Type, Stage, End-User, and Region – Global Forecast till 2030″, the global market will reach USD 46 billion at a 4.01% CAGR by 2030.

Centrifugal Pump Market Analysis 

Over the couple of years, there has been a rapid increase in the construction of new residential & commercial constructions. Several public and private groups are making large investments in various developing and established countries to renovate current facilities and build new ones. These pumps assist in dealing with fluctuating or low-pressure challenges, as well as providing energy-efficient solutions to meet water transfer and HVAC needs in buildings. This will boost market growth in the forecast period.

Increasing Use of Innovative Technologies to Effectively Operate Product to offer Robust Opportunities 

The centrifugal pump is prone to pumping fluids containing contaminants, which can reduce the system’s productivity. As a result, maintaining the working parameters of the pumps is critical to boosting overall efficiency and product life. To remotely diagnose fault conditions, various industry participants have effectively proven sophisticated technologies such as network-based monitoring, IoT, & many others. For example, during the worldwide trade expo ACHEMA in Germany, KSB presented their new platform known as “KSB guard” to monitor pump systems utilizing network sensors. The innovative solution intends to incorporate temperature and vibration sensors into the pumps to identify changes in operating behavior for improved retrofitting and maintenance. This will offer robust opportunities for the market over the forecast period.

Key Players 

Eminent industry players profiled in the global centrifugal pump market report include,

• Xylem (US)
• Grundfos (Denmark)
• Flowserve…