The global power generation pumps market is estimated at USD 865 Million in 2022 and is forecast to surpass USD 1,857 Million by 2032, growing at a CAGR of 7.9% during 2022-2032.
The global power generation pumps market accounts for ~1% of the global pumps market in 2022. The global power generation pumps market is estimated to have an absolute $ opportunity of USD 992 Million during the assessment period of 2022-2032.
According to the International Energy Agency, the energy demand globally rose by 2.6% in 2020, which was twice the previous year’s rate. Oil, natural gas, and coal met 65% of global energy demand, while renewable energy accounted for the rest.
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Key Takeaways:
- East Asia power generation pumps market is to reach the market valuation of USD 242 million in the assessment period 2022 and is forecast to surpass USD 520 million by 2032 end
- China is expected the East Asia region by covering a market share of around 65% in the assessment period 2022.
- By product type, centrifugal power generation pumps expected to multiply the global market valuation by a factor of 2.2X by 2032 end
- As smart pumping systems are very versatile and cost-effective, the power generation pumps market is expected to increase at a CAGR of 6.3% from 2017 to 2021, with an absolute $ opportunity of USD 745 million.
- By capacity, (500-1000 gpm) power generation pump is expected to hold a 51% market share in 2022.
Growth Drivers:
- The demand for efficient power generation pumps is predicted to rise as a result of process optimization to reduce energy consumption.
- Offering new technology and systems to improve performance while also increasing the dependability of power generation pumps is a key strategy for market leaders, this is expected to propel the growth of power generation pumps market.
Key Restraints:
- Expensive installation and maintenance cost of power generation pumps is expected to hamper the growth of power generation pumps market.
Key Companies Profiled:
- Xylem
- Flowserve Corporation
- KSB SE & Co. KGaA
- Weir Group
- Sulzer Ltd.
- Pentair Ltd.
- IDEX Corporation
Global Power Generation Pumps Market Segments:
· By Product Type :
- Centrifugal Pumps
- Single Stage
- Multi-Stage
- Axial and Mixed
- Submersible
- Seal less and Circular
- Reciprocating Pumps
- Piston
- Plunger
- Diaphragm
- Rotary Pumps
- Gear
- Vane
- Screw
- Lobe
- Progressive Cavity Pumps
- Piston
- Peristaltic
· By Capacity :
- Small (Up to 500 gpm)
- Medium (500-1,000 gpm)
- High (More than 1,000 gpm)
· By Power Type :
- Coal/Oil
- Combined Cycle Gas
- Hydroelectric
- Nuclear
· By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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