Hot Water Circulator Pump Market Analysis

Global Hot Water Circulator Pump Market Overview:

Hot Water Circulator Pump Market Size was valued at USD 2.7 Billion in 2022. The Hot Water Circulator Pump market industry is projected to grow from USD 2.84 Billion in 2023 to USD 4.29 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.30% during the forecast period (2023 - 2032). The increase in the need for hot water pumps with circulators and an increasing number of people opting for hot showers are the key market drivers enhancing market growth.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Hot Water Circulator Pump Market Trends

• 
  

  Growing need for energy conservation and cost reduction is driving the market growth

  
  

Market CAGR for hot water circulator pumps is driven by the rising use of hot water circulators can shorten the time for heated water from the storage tank to the tap, saving money on heating costs. The end outcome is reduced energy costs for families. Policies, incentives, and subsidies are all ways that governments worldwide encourage the use of more energy-efficient items. Consumers are becoming increasingly conscientious of their energy usage and seeking energy-efficient and environmentally friendly products in response to growing concerns about environmental sustainability. It has led to an increase in demand for hot water circulating pumps. Sales will increase with more people become aware of how much energy hot water circulator pumps may save. Hot water circulator pumps are among the many devices that have benefited from enhanced customer awareness thanks to energy efficiency labeling and certification initiatives. Demand for hot water circulator pumps is expected to rise due to the issues mentioned above in the future.

Additionally, hot water circulator pump demand may be stimulated by building codes that mandate upgrades to older buildings to bring them up to modern safety, sustainability, and energy efficiency standards. Green building certifications, incentives for environmentally friendly products, and energy efficiency regulations exemplify how building codes can influence the market. The Leadership in Energy and Environmental Design and the Energy Star labels are two certifications that building codes may mandate. Hot water circulator pumps can help pursue these certifications by decreasing energy consumption and increasing energy efficiency. An incentive to use hot water pumps that are both environmentally friendly and efficient in their use of energy can be found in building codes. In this context, these pumps can play a significant role because of their ability to lessen energy demands and boost efficiency. Therefore, the increasing prevalence of energy savings is fueling the expansion of the international market.

For instance, Grundfos released its COMFORT PM AUTO recirculation pump for homes. Its AUTOADAPT function, which learns the household's usage habits and adapts to them, makes it the gold standard of intelligent, energy-saving hot water recirculation. As a result, the demand for hot water circulator pumps is predicted to grow throughout the forecasted time due to the rising demand for reduced energy costs. Thus, the driving factor is the hot water circulator pump market revenue.

Hot Water Circulator Pump Market Segment Insights:

Hot Water Circulator Pump Type Insights

The hot water circulator pump market segmentation, based on type, includes single-stage and multistage pumps. In 2022, the single-stage category was anticipated to grow at a CAGR of 5.30% over the projected period, making up the largest market share due to their many benefits, including their energy-efficient design. They are becoming increasingly popular in the home and commercial markets. The energy required to heat water and keep it circulating through pipes can be reduced by using these devices because of how rapidly and efficiently they circulate hot water through a system. Compared to other methods of recirculating hot water, single-stage pumps have low entry and operating costs.

Hot Water Circulator Pump Application Insights

The hot water circulator pump market segmentation, based on application, includes residential, commercial, and industrial. In 2022, the residential segment led the residential market in revenue. The residential sector is a major energy user. These pumps can drastically reduce energy usage by eliminating the need to keep water heated through long pipes. The domestic sector is also more likely to install hot water pumps in older buildings and dwellings for increased efficiency, comfort, and convenience.

Figure 1: Hot Water Circulator Pump Market by Application, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Hot Water Circulator Pump Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American hot water circulator pump market will dominate because of the need to conserve energy, reduce waste, and ensure a steady hot water supply. It can be used in homes, businesses, and factories to speed up hot water delivery, reduce water and energy waste, and boost productivity.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Hot Water Circulator Pump Market Share By Region 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe’s hot water circulator pump market accounts for the second-largest market share because the weather is frigid across most of Europe. It indicates a strong demand for hot water. In addition, a hot water circulation pump can be more efficient in delivering hot water in locations where the water is naturally cooler. Further, the German hot water circulator pump market held the largest market share, and the UK hot water circulator pump market was the fastest-growing market in the European region.

The Asia-Pacific hot water circulator pump market is expected to grow at the fastest CAGR from 2023 to 2032 due to the increasing demand for new building projects due to swift urbanization and infrastructural growth. The market may grow if more office and apartment complexes are constructed. In addition, in many parts of the Asia Pacific region, water shortage is a serious problem, making water conservation a primary priority for many governments and organizations. The ability to quickly access hot water without wasting water waiting for the tap to heat up is a major benefit. Moreover, China’s hot water circulator pump market held the largest market share, and the Indian hot water circulator pump market was the fastest-rising market in the Asia-Pacific region.

Hot Water Circulator Pump Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the hot water circulator pump market grow even more. There are some strategies for action that market participants are implementing to increase their presence around the world's footprint, with important market developments including new product launches, contractual agreements and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the hot water circulator pump industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturer use in the hot water circulator pump industry to benefit clients and increase the market sector. In recent years, the hot water circulator pump industry has offered some of the most significant technological advancements. Major players in hot water circulator pump market, including Xylem Inc (U.S.), Flowserve Corporation (U.S.), Grundfos (Denmark), Armstrong Fluid Technology (Canada), BacoEngineering (U.K.), Calpeda S.p. (Italy), Taco (U.S.), Emile Egger & Cie S.A. (Switzerland), and others are attempting to grow market demand by investing in research and development operations.

Grundfos develops ground-breaking solutions to the world's water and climate problems and raises people's living standards. We promise to respect, safeguard, and promote water flow as a leading pump and water solutions provider by offering energy and water-efficient solutions and systems for various applications for water utilities, businesses, and structures. We employ clever, sustainable, and energy-efficient technologies to move and change water and other liquids for use in structures, industries, and utilities. Grundfos has always been propelled by innovation. Thanks to our expertise in fusing water solutions with digital solutions, we assist our partners and clients in moving water in applications across all customer segments. These solutions are built around a wide range of goods and services that lead the industry in connection, dependability, and energy efficiency. In March 2023, Grundfos and the Norwegian Refugee Council (NRC) forged a new partnership to help refugees and members of underprivileged communities access raw water, particularly in Sub-Saharan Africa and the Middle East.

Xylem (XYL), a market leader in water technology, is committed to employing innovation to address significant infrastructure and water issues. Our diverse team of more than 17,000 employees generated $5.5 billion in revenue in 2022. We contribute to a more sustainable world by enabling our clients to manage resources and water more skillfully and by helping communities in more than 150 countries achieve water security. We deliver incredibly strong capabilities for the most difficult water problems in the world. Our client's ability to utilize, manage, preserve, reuse, and return water and wastewater to nature significantly improves when we combine our complementary techniques, products, and knowledge. In February 2023, a development of our team-based innovation methodology is Xylem Innovation Labs. "Partnering with emerging tech companies allows us to tap into the diversity and power of water innovators and work together to fast-track real-world solutions and business models to help our customers and communities solve their most difficult water challenges," says the company.

Key Companies in the Hot Water Circulator Pump Market include

• Xylem Inc (U.S.)


• Flowserve Corporation (U.S.)


• Grundfos (Denmark)


• Armstrong Fluid Technology (Canada)


• BacoEngineering (U.K.)


• Calpeda S.p. (Italy)


• Taco (U.S.)


• Emile Egger & Cie S.A. (Switzerland)

Hot Water Circulator Pump Industry Developments

May 2023: Xylem Inc. has acquired Evoqua Water Products Corp. ("Evoqua"), a leader in mission-critical water treatment products and services, in an all-stock deal for around $7.5 billion. It has led to the availability of the most cutting-edge platform of capabilities worldwide to address the critical water demands of consumers and communities.

April 2023: The Ghana Water Initiative (GWI), one of the initiatives under SafeWater, a crucial business division under Grundfos, has announced the launch of SUREWATER mineral water. Through increased accessibility and the abolition of sachet water in Ghana, this new bottled water aims to increase water security.

Hot Water Circulator Pump Market Segmentation

Hot Water Circulator Pump Type Outlook

• Single-Stage Pump


• Multistage Pumps

Hot Water Circulator Pump Application Outlook

• Residential


• Commercial


• Industrial

Hot Water Circulator Pump Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America