Axial Flow Pump Market Overview
As per MRFR analysis, the Axial Flow Pump Market Size was estimated at 11.94 (USD Billion) in 2022. The Axial Flow Pump Market Industry is expected to grow from 12.5 (USD Billion) in 2023 to 18.9 (USD Billion) by 2032. The Axial Flow Pump Market CAGR (growth rate) is expected to be around 4.7% during the forecast period (2024 - 2032).
Key Axial Flow Pump Market Trends Highlighted
Key market drivers include the increasing demand for energy-efficient pumping solutions, the growing adoption of axial flow pumps in water treatment and wastewater applications, and the rising demand for these pumps in the power generation industry. Opportunities to be explored or captured encompass the development of new materials and designs to enhance pump efficiency, the expansion into emerging markets, and the integration of advanced technologies such as IoT and AI for remote monitoring and predictive maintenance.
Recent trends in the axial flow pump market revolve around the adoption of variable speed drives (VSDs) to optimize pump performance and reduce energy consumption, the use of computational fluid dynamics (CFD) to improve pump design and efficiency, and the focus on sustainable and environmentally friendly pumping solutions. These trends are expected to continue shaping the market in the coming years, driving innovation and growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Axial Flow Pump Market Drivers
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Increasing Demand for Energy-Efficient Pumping Solutions
The rising need for energy preservation and sustainability is inciting industrial demand for energy-efficient pumping services. Axial flow pumps are among the most efficient pumps on the market and require less energy than other pumps of their capacity. Their popularity in water and wastewater treatment and power plants is expected to be a key driver of the Global Axial Flow Pump Market Industry.
Expansion of Water and Wastewater Treatment Infrastructure
The world is facing the challenges of the growing population and increasing urbanization and is consequently suffering from the pressure on water sources and wastewater treatment plants. The governments and municipalities are investing their funds in the extension of water and wastewater treatment equipment and the maintenance of cleanness in water supply and sanitation. Axial flow pumps are in high demand for various applications in water and wastewater treatment plants, including raw water pumping, sludge handling, and effluent removal. According to the data on the global water and wastewater key investments, the sector will continue to grow and, therefore create the additional demand for axial flow pumps.
Growing Adoption in the Power Generation Industry
The power generation industry is a main consumer of axial flow pumps. They are utilized in power plants for circulating cooling water, condensate handling, and other essential processes. The sector is expected to drive the demand for this product owing to the rising need for electricity, as well as the increasing acceptance of such renewable energy sources as solar and wind power. Furthermore, as the most efficient in terms of flow, this item is particularly compatible with the spheres of large production.
Axial Flow Pump Market Segment Insights
Axial Flow Pump Market Capacity Insights
The three segments of the Global Axial Flow Pump Market are defined based on the capacity of the relevant pumps. Accordingly, the market is segmented into low, medium, and high-capacity pumps. In 2023, the medium-capacity-based segment had the largest share in the Global Axial Flow Pump Market, representing nearly 50% of the market revenue. This is because medium-capacity pumps are used in high-demand industries, such as water and waste treatment, power, and oil and gas. In terms of capacity range, medium pumps are classified as pumps processing between 20,000 and 100,000 GPM.
The high-capacity-based segment is expected to have the highest rate of growth during the forecast period. The rise is tied to the development of large infrastructure projects, including major irrigation schemes and flood prevention systems. Overall, the high-capacity market for axial flow pumps is projected to be more than $4.5 billion in 2023 and over $7 billion in 2032.
The growth rate of the low-capacity segment will be slower. Revenues generated by the capacity-based segment at the start of the forecast period are estimated at $2-$3 billion, due to which the low and medium-capacity pumps are expected to generate roughly equal amounts of revenue. Low pumps are used in smaller applications, such as residential and agricultural ones. At the start of the forecast period, low-capacity pumps will contribute about 25% to the Global Axial Flow Pump Market data.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Axial Flow Pump Market Discharge Pressure Insights
For many reasons, the modern world cannot be imagined without axial flow pumps. The Global Axial Flow Pump Market is expanding, and such prospects should contribute to new investments. Three types of discharge pressure can be distinguished: low up to 100 psi, medium from 100 to 500 psi, and high over 500 psi. The low discharge pressure segment occupied the leading position by revenue share in 2023, comprising more than 45% of the Global Axial Flow Pump Market.
Further, the medium discharge pressure segment is expected to increase at the highest CAGR during the forecast period, driven by the rapid growth of the industrial sector. Finally, the high discharge pressure segment is expected to grow at a moderate pace due to the specific Application of this equipment in a limited number of industries. In any case, the market of all segments is projected to increase owing to the increasing Application of axial flow pumps in the end-use industries, such as water and wastewater treatment, oil and gas, and power generation.
Axial Flow Pump Market Application Insights
The Global Axial Flow Pump Market segmentation by Application is expected to be dominated by the Water and Wastewater Treatment segment in 2023, accounting for a market share of around 29.4%. This dominance is attributed to the increasing demand for efficient and reliable water and wastewater treatment solutions to meet the growing population and urbanization. The Power Generation segment is estimated to hold a significant market share, driven by the rising need for electricity generation from renewable energy sources such as hydropower and wind power.
The Oil and Gas Production segment is anticipated to witness steady growth due to the increasing exploration and production activities in both onshore and offshore fields. The HVAC Systems segment is projected to experience considerable demand, owing to the growing construction industry and the increasing adoption of energy-efficient HVAC systems. The Industrial Process Applications segment is expected to exhibit promising growth prospects, fueled by the expanding manufacturing and processing industries across various sectors.
Axial Flow Pump Market Materials of Construction Insights
The Materials of Construction segment plays a pivotal role in determining the performance, durability, and cost-effectiveness of axial flow pumps. Among the commonly used materials, cast iron stands out as the most widely adopted option. Its affordability, ease of casting, and inherent strength make it suitable for various industrial applications. Stainless steel, known for its corrosion resistance and ability to withstand extreme temperatures, finds its niche in applications involving corrosive fluids or harsh environments. Bronze, with its excellent wear resistance and seawater compatibility, is preferred for marine applications.
Ductile iron, a nodular form of cast iron, offers enhanced strength and flexibility, making it ideal for high-pressure and heavy-duty applications. Composite materials, such as fiberglass-reinforced polymers, are gaining traction due to their lightweight, corrosion resistance, and ability to reduce noise and vibration. The Global Axial Flow Pump Market revenue is expected to grow significantly over the forecast period, driven by the increasing demand for these materials in various end-use industries
Axial Flow Pump Market Efficiency Insights
The Global Axial Flow Pump Market is segmented by efficiency into Standard Efficiency, High Efficiency, and Ultra-High Efficiency. The High-Efficiency segment is expected to witness significant growth over the forecast period due to increasing demand for energy-efficient pumps. The ultra-high-efficiency segment is projected to have the highest growth rate, driven by stringent government regulations and incentives for adopting energy-efficient technologies. The Global Axial Flow Pump Market revenue for the High-Efficiency segment is estimated to reach USD 6.5 billion by 2024, while the Ultra-High-Efficiency segment is expected to reach USD 2.8 billion by the same year.
Axial Flow Pump Market Regional Insights
The regional segmentation of the Global Axial Flow Pump Market offers valuable insights into the market's geographical distribution and growth dynamics. North America is projected to account for a significant share of the market in 2024, driven by the increasing demand for axial flow pumps in the industrial, energy, and water treatment sectors. Europe is another key region, with a mature market for axial flow pumps supported by advancements in manufacturing and infrastructure development.
The Asia-Pacific (APAC) region is expected to witness robust growth, primarily due to rising industrialization and urbanization in countries such as China and India. South America and the Middle East and Africa (MEA) regions are anticipated to contribute to the global market growth, driven by infrastructure development and increasing demand from various end-use industries.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Axial Flow Pump Market Key Players And Competitive Insights:
Major players in the Axial Flow Pump Market industry are focusing on expanding their global presence and increasing their market share. Leading Axial Flow Pump Market players are adopting various strategies such as mergers and acquisitions, joint ventures, and partnerships to strengthen their position in the market. Axial Flow Pump Market development is also driven by the increasing demand for energy-efficient and environmentally friendly pumps.
The Axial Flow Pump Market Competitive Landscape is expected to remain highly competitive in the coming years, with major players vying for market leadership. KSB SE; Co. KGaA, a leading player in the Axial Flow Pump Market, offers a wide range of axial flow pumps for various applications. The company has a strong global presence and is known for its high-quality products and innovative solutions. KSB SE; Co. KGaA is committed to providing customized solutions to meet the specific needs of its customers.
The company's focus on research and development has resulted in the development of cutting-edge technologies that enhance the performance and efficiency of its pumps. Sulzer Ltd., another major player in the Axial Flow Pump Market, specializes in the production of high-performance pumps for various industries. The company is known for its expertise in fluid handling and has a strong focus on sustainability. Sulzer Ltd. offers a comprehensive range of axial flow pumps that are designed to meet the specific requirements of different applications. The company's commitment to quality and innovation has made it a preferred choice for customers worldwide. Sulzer Ltd. continues to invest in research and development to enhance the performance and reliability of its pumps.
Key Companies in the Axial Flow Pump Market Include:
- WILO SE
- Seepex
- Sterling SIHI
- ABS Pumps
- KSB SE Co. KGaA
- ITT INC.
- CRI Group
- Ebara Corporation
- Sulzer
- Floway Pump
- Weir Group PLC
- Desmi
- Lenntech B.V.
- Grundfos Holding A/S
- Sulzer Pumps Ltd.
- CNP Pumps
Axial Flow Pump Market Industry Developments
The Axial Flow Pump Market is poised to reach a valuation of USD 18.9 Billion by 2032, expanding at a CAGR of 4.7% from 2024 to 2032. The growing demand for energy-efficient pumps in various industries, including water and wastewater treatment, power generation, and oil and gas, is driving market growth. Technological advancements, such as the development of high-efficiency impellers and improved materials, are further contributing to the market's expansion.
Recent news developments include strategic partnerships and collaborations among key players to enhance product offerings and expand market reach. For instance, in 2023, Sulzer, a leading provider of pumps, announced a partnership with Grundfos to develop and market a new range of submersible axial flow pumps for the water and wastewater industry. Such partnerships are expected to accelerate innovation and drive market growth in the coming years.
Axial Flow Pump Market Segmentation Insights
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Axial Flow Pump Market Capacity Outlook
- Low (up to 20,000 GPM)
- Medium (20,000 to 100,000 GPM)
- High (over 100,000 GPM)
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Axial Flow Pump Market Discharge Pressure Outlook
- Low (up to 100 psi)
- Medium (100 to 500 psi)
- High (over 500 psi)
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Axial Flow Pump Market Application Outlook
- Water and Wastewater Treatment
- Power Generation
- Oil and Gas Production
- HVAC Systems
- Industrial Process Applications
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Axial Flow Pump Market Materials of Construction Outlook
- Cast Iron
- Stainless Steel
- Bronze
- Ductile Iron
- Composite Materials
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Axial Flow Pump Market Efficiency Outlook
- Standard Efficiency
- High Efficiency
- Ultra-High Efficiency
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Axial Flow Pump Market Regional Outlook
- North America
- Europe
- South America
- Asia-Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
11.94(USD Billion) |
| Market Size 2023 |
12.5(USD Billion) |
| Market Size 2032 |
18.9(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.7% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
WILO SE ,Seepex ,Sterling SIHI ,ABS Pumps ,KSB SE Co. KGaA ,ITT INC. ,CRI Group ,Ebara Corporation ,Sulzer ,Floway Pump ,Weir Group PLC ,Desmi ,Lenntech B.V. ,Grundfos Holding A/S ,Sulzer Pumps Ltd. ,CNP Pumps |
| Segments Covered |
Capacity, Discharge Pressure, Application, Materials of Construction, Efficiency, Regional |
| Key Market Opportunities |
Growing demand for water pumps Increasing industrialization and urbanization Technological advancements Environmental concerns Government regulations |
| Key Market Dynamics |
1 Increasing energy efficiency2 Demand for high-flow applications3 Ongoing infrastructure growth4 Advancements in material technology5 Growing water scarcity |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The global axial flow pump market is expected to reach USD 18.9 billion by 2032, at a CAGR of 4.7% from 2024 to 2032.
Asia-Pacific is the largest market for axial flow pumps, accounting for over 40% of the global market share in 2023.
Axial flow pumps are used in a wide range of applications, including water supply, wastewater treatment, power generation, and industrial processes.
Key competitors in the global axial flow pump market include Flowserve, Sulzer, Grundfos, KSB, and Ebara.
The growth of the axial flow pump market is driven by increasing demand from water and wastewater treatment plants, power plants, and industrial facilities.
Challenges facing the axial flow pump market include rising raw material costs, increasing competition, and stringent environmental regulations.
Opportunities for growth in the axial flow pump market include the development of new technologies, expansion into emerging markets, and increasing demand for renewable energy sources.
Key trends in the axial flow pump market include the adoption of smart pumps, the use of advanced materials, and the integration of IoT technologies.
The COVID-19 pandemic had a negative impact on the axial flow pump market in 2020, but the market is expected to recover and grow in the coming years.
The future prospects for the axial flow pump market are positive, with growth expected to be driven by increasing demand from emerging markets and the adoption of new technologies.
