Chicago, June 16, 2022 (GLOBE NEWSWIRE) — According to the new market research report “Centrifugal Pump Market by Type (Overhung Impeller, Vertically Suspended, Between Bearing), Operation Type (Electric, Hydraulic, Air Driven), Stage (Single Stage, Multistage), End-User (Industrial, Commercial, Residential), Region- Global Forecast to 2026″, published by MarketsandMarkets™, The global centrifugal pump market is projected to grow at a CAGR of 5.9%, to reach a size of USD 48.8 billion by 2026, from an estimated USD 36.6 billion in 2021. Intensified demand for water & wastewater management in developed countries and rising investments in the construction industry due to rapid urbanization are the key factors driving the growth of the centrifugal pumps market. Likewise, the up-gradation of aging and construction of new water & wastewater treatment facilities and adoption of solar-powered centrifugal pumps are expected to offer lucrative opportunities for the centrifugal pump market during the forecast period.
By Stage, the single stage segment is expected to be the fastest growing segment of the centrifugal pump market during the forecast period.
The single stage pump segment is expected to exhibit the highest CAGR in the centrifugal pump market, by stage, between 2020 and 2026. These pumps are widely used in the industrial sector as they can handle large flow volumes of fluids. Increased investments in infrastructure and solar power plants and the growing…
