Power Generation Pumps Market to Expand at a 7.9% CAGR by 2032 - Latest Fact.MR Study

NEW YORK, Feb. 10, 2022 /PRNewswire/ -- The global power generation pumps market to grow at a CAGR of 7.9% during the forecast period 2022-2032 and estimated the market valuation at USD 865 million in the assessment period 2022. 

According to the International Energy Agency, global energy demand is expected to rise by 2.6 percent in 2020, more than double the rate of the previous year. 65% of world energy demand was fulfilled by oil, natural gas, and coal, with the balance being met by renewable energy.

With the development of new power plants to meet the ever-increasing demand in growth for energy, the focus on energy efficiency has increased.

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Power Generation pumps market is used for primary application in the power plants which is used in need of more maintenance. To ensure reliability and optimum efficiency, the components of both positive displacement pumps and centrifugal pumps are used in the power generation require timely inspection, service, and replacement if necessary.

This is leading in the market as this is to the high maintenance cost of power generation pumps. Many manufacturers in the power generation pumps market have started providing kits to repair the pumps and schedule maintenance.

The cost of installing power generation pumps has increased in recent years. Considering current design practices, the life-cycle cost of the pump including the cost of installation, operation, and maintenance has also increased.

Power generation pumps with frequency control that adjusts the pump's performance to the current needs are also gaining traction.

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.

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Competitive Landscape:

The various leading players in the power generation pumps market are focusing on offering various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations, and partnerships.

• Leading organizations also use new product creation as a strategic way to expand their market presence among consumers. As a result of these efforts, advanced power generation pumps have been implemented.
• The global power generation pumps market is highly fragmented and competitive owing to the existence of many domestic and regional players.

Key Companies Profiled by Fact.MR

• Xylem
• Flowserve Corporation
• KSB SE & Co. KGaA
• Weir Group
• Sulzer Ltd.
• Pentair Ltd.
• IDEX Corporation

More valuable Insights on Power Generation Pumps Market

Fact.MR, in its report, offers a market analysis of the global power generation pumps market analysing forecast period through 2022 and beyond. This survey reveals the growth of technology in the Power Generation Pumps Market with detailed segmentation as follows: -

·  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

Key Questions covered in the Power Generation Pumps Market Report

What is the global Power Generation Pumps Market scenario?

How far is the global demand expected to reach over the forecasted period?

What was the last 5-year CAGR for the demand in the demand in the Power Generation Pumps Market?

Who are the prominent players in the global Power Generation Pumps Market?

Which is the most leading region in the Power Generation Pumps Market?

Explore Fact.MR's Coverage on the Industrial Goods Domain –

Oil Refining Pumps Market Trends - Rising power demand and a heavy reliance on oil in developing nations has led to the construction of oil refineries, which has boosted sales of oil refining pumps. Oil refining pumps integrated with new technology are expected to gain popularity in oil refineries.

Reciprocating Pumps Market Forecast - The market for reciprocating pumps is expected to rise significantly. The global need for oil and gas, particularly in the petrochemical industry, is influencing the expansion of the reciprocating pumps market.

Canned Motor Pumps Market Scope - Due to interrupted operations in end-use sectors, demand for canned motor pumps has decreased dramatically. In the worldwide canned motor pumps market, reverse circulation canned motor pumps had the majority of the market share. Because of its capacity to treat highly volatile fluids including LPG, LNG, Liquid Ammonia, and refrigerants, these pumps are widely utilized in oil and gas and industrial applications.

Rotary Pumps Market Insights - In most developing countries, increasing access to water and the importance of sanitation is creating various chances for rotary pump market players. Furthermore, rising consumer disposable income is causing an increase in discretionary expenditure, particularly on chemicals and fuel, which is driving up demand for rotary pumps in developing countries.

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