Axial Flow Pump Market: From $27.4B in 2020 to an Estimated $42.1B by 2030 by top key players ITT Goulds Pump

WILMINGTON, DE , UNITED STATES, July 15, 2024 /EINPresswire.com/ -- The global axial flow pump market forecast was valued at $27.4 billion in 2020, and is projected to reach $42.1 billion by 2030, growing at a CAGR of 4.4% from 2021 to 2030.

Axial flow pump (AFP), also known as propeller pump, is a type of centrifugal pump that is used for high and low head applications. These pumps consist of impeller that is located in pipe like structure and are designed to handle severe pumping conditions. Horizontal and vertical are two major types of axial flow pumps that are available in the market.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬: https://www.alliedmarketresearch.com/request-sample/A12995

Vertical axial flow pumps possess various significant characteristics such as less space requirement, increase overall efficiency, no priming requirement, and others that make them suitable for a wide range of applications. The utilization of vertical axial flow pumps in sectors such as power plants, chemical industries, water drainage, and others drives the axial flow pump market growth. In addition, increase in global electricity demand has made power plants produce more electricity where vertical axial pumps are used to transfer the process fluid at different power plant locations. These factors are predicted to notably contribute toward the global market.

However, axial flow pumps cost more than other types of centrifugal pumps and are not suitable for applications that include use of high viscos fluid transportation. This factor is anticipated to hamper the market growth during the forecast period.

Rapid technological advancements in water treatment sectors have surged the demand for highly efficient pumping equipment. Axial flow pumps being capable to deliver nearly four times higher discharge than normal centrifugal pumps of the same rating have made water treatment sectors more linear toward using axial flow pumps. In addition, governments of both developed and developing economies have imposed several regulations and environmental policies for the discharge of industrial and untreated wastewater into rivers, lakes, and other water bodies. For instance, according to an article published by India WaterPortal, the Environment Ministry has imposed a ban on project clearance of industries that discharge untreated water into open water bodies. This has made industries invest more in water treatment facilities. This factor is anticipated to create remunerative opportunities for the expansion of the axial flow pumps market in future.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐎𝐧 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/aab60db16dced03b871c5d56824ba52b

The axial flow pump market analysis is done on the basis of product type, application, end use, and region.

By product type, the market is segregated into horizontal and vertical. The horizontal product type dominated the global market in terms of revenue in 2020, with over two-third of the total share. This is attributed to the fact that use of horizontal shaft type axial flow pumps has advantages such as can be placed on simple foundation, easy accessibility for inspection, can be mounted and dismounted easily, and housing for the pump can be lowered.

By application, the global axial flow pump market is classified into water treatment, irrigation, evaporators, and others. The others application dominated the global market in terms of revenue in 2020, with over one-third of the total share. This is attributed to the fact that utilization of axial flow pumps in applications such as fisheries, heat recovery systems, sewage digesters, high volume mixing, and others is the major key axial flow pump market trend in the global market. The increasing global power consumption has surged the need for heat recovery systems where axial flow pumps are widely used for the circulation of process fluid in power plants.

By end use, the global market is divided into chemical, municipal, pulp & paper, agriculture, food & beverage, and others. The agriculture end use dominated the global market in terms of revenue in 2020, with over two-seventh of the total share. This is attributed to the fact that the increasing population has surged the demand for crop production where axial flow pumps are widely employed for irrigational purposes.

This may increase the demand for the axial flow pump market in the agricultural sector. Moreover, axial flow pumps can discharge nearly four times more water as compared to centrifugal pumps of the same rating relatively reduced energy costs. This has made farmers more linear towards using axial flow pumps for various pumping applications in agricultural sectors.

𝐈𝐟 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐚𝐧𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬, 𝐏𝐥𝐞𝐚𝐬𝐞 𝐟𝐞𝐞𝐥 𝐟𝐫𝐞𝐞 𝐭𝐨 𝐜𝐨𝐧𝐭𝐚𝐜𝐭 𝐨𝐮𝐫 𝐚𝐧𝐚𝐥𝐲𝐬𝐭 𝐚𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/A12995

Region wise, the axial flow pump market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific axial flow pump market size is projected to grow at the highest CAGR during the forecast period and accounted for major axial flow pump market share in 2020, owing to growing demand for axial flow pumps among different end-use industries such as pulp & paper, food & beverage, and chemical.

The global market analysis covers in-depth information of the major axial flow pump industry participants. Key players operating in the global axial flow pump market include Ebara Corporation, Flowserve Corporation, Grundfos Holdings A/S, Handol Pumps Limited, Hitachi Industrial Products Ltd., ITT Goulds Pump, Pentair PLC, Sulzer Ltd., The Weir Group PLC, and Xylem Inc.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐭𝐮𝐝𝐲:

The vertical product type is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 4.7% from 2021 to 2030.
The others application is anticipated to register the highest CAGR of 5.1% during the forecast period.
The food & beverages end-use segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 5.2% from 2021 to 2030.
Asia-Pacific garnered the highest share of 41.9% in 2020, in terms of revenue, growing at a CAGR of 5.3%.

David Correa
Allied Market Research
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