The HVAC pumps market size was valued at $31,560.5 million in 2021, and is projected to reach $55,457.0 million by 2031, registering a CAGR of 5.7% from 2022 to 2031.
Heating, ventilating, and air conditioning (HVAC) systems are increasingly being used to maximize energy in residential and business infrastructures. Exponential increase in population combined with the construction of new business centers such as offices, factories, warehouses, sports complexes, hospitality, and healthcare has prompted the deployment of compact and energy-efficient heating and cooling systems. These building mechanical systems improve thermal comfort while also improving air quality, thus driving the growth of the global HVAC market.
The global HVAC pump market is expected to develop due to rapid urbanization and green building construction. The most frequent type of pump utilized in these systems for water circulation operations is a centrifugal pump. The main characteristics that make it a favorite choice in commercial and domestic businesses are cost-effectiveness, easy maintenance, and enhanced safety. HVAC pumps are commonly used to keep the flow rate and distribution systems in the HVAC unit and helps in running smoothly. Market income will be bolstered by rising sustainability trends toward energy saving. HVAC systems account for over 30% of the energy consumed by commercial buildings. The use of 3D printing and computer modelling in HVAC pump manufacturing has resulted in tremendous growth potential for market players across the sector. HVAC pumps can be found in nearly every sort of manufacturing facility, including textiles, chemicals, automotive, food processing, and forest products. For instance, in September 2021, Carrier China, a subsidiary of Carrier Global, teamed up with Huadian Corporation to provide centrifugal chillers for the Guangzhou Wanbo Central Energy Station in China.
The global HVAC market is segmented into pump type, product type, end user, and region. On the basis of pump type, the market is fragmented into booster pumps, circulating pumps, centrifugal pumps. By product type, it is divided into multi-stage and single stage. Depending on end user, it is segregated into industrial, residential, and commercial. Region wise, the global market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The key players that operating in the HVAC Pumps industry are Armstrong Air, Aurora Konrad G. Schulz GMBH & CO.KG, Bard Manufacturing Company Inc., CNP Pump India Pvt. Ltd., CRI Pump Private Ltd., Kirloskar Brother Ltd., KSB SE & CO., Pentair PLC., Torishima Pumps MFG CO. Ltd., and WILO SE.
Heating, ventilating, and air conditioning (HVAC) systems are increasingly being used to maximize energy in residential and business infrastructures. Exponential increase in population combined with the construction of new business centers such as offices, factories, warehouses, sports complexes, hospitality, and healthcare has prompted the deployment of compact and energy-efficient heating and cooling systems. These building mechanical systems improve thermal comfort while also improving air quality, thus driving the growth of the global HVAC market.
The global HVAC pump market is expected to develop due to rapid urbanization and green building construction. The most frequent type of pump utilized in these systems for water circulation operations is a centrifugal pump. The main characteristics that make it a favorite choice in commercial and domestic businesses are cost-effectiveness, easy maintenance, and enhanced safety. HVAC pumps are commonly used to keep the flow rate and distribution systems in the HVAC unit and helps in running smoothly. Market income will be bolstered by rising sustainability trends toward energy saving. HVAC systems account for over 30% of the energy consumed by commercial buildings. The use of 3D printing and computer modelling in HVAC pump manufacturing has resulted in tremendous growth potential for market players across the sector. HVAC pumps can be found in nearly every sort of manufacturing facility, including textiles, chemicals, automotive, food processing, and forest products. For instance, in September 2021, Carrier China, a subsidiary of Carrier Global, teamed up with Huadian Corporation to provide centrifugal chillers for the Guangzhou Wanbo Central Energy Station in China.
The global HVAC market is segmented into pump type, product type, end user, and region. On the basis of pump type, the market is fragmented into booster pumps, circulating pumps, centrifugal pumps. By product type, it is divided into multi-stage and single stage. Depending on end user, it is segregated into industrial, residential, and commercial. Region wise, the global market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competition Analysis
The key players that operating in the HVAC Pumps industry are Armstrong Air, Aurora Konrad G. Schulz GMBH & CO.KG, Bard Manufacturing Company Inc., CNP Pump India Pvt. Ltd., CRI Pump Private Ltd., Kirloskar Brother Ltd., KSB SE & CO., Pentair PLC., Torishima Pumps MFG CO. Ltd., and WILO SE.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging market HVAC pumps market trends and dynamics.
- In-depth HVAC pump market analysis is conducted by constructing market estimations for key market segments between 2022 and 2031.
- Extensive analysis of the HVAC pump market share is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing HVAC pump market opportunity.
- The HVAC pumps market forecast from 2022 to 2031 is included in the report.
- The key players with in HVAC pumps market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the HVAC pumps industry.
Key Market Segments
By Product Type
- Single stage
- Multi-stage
By End-User
- Industrial
- Residential
- Commercial
By Pump Type
- Booster pumps
- Circulating pumps
- Centrifugal pumps
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- U.K.
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Bard Manufacturing Company Inc.
- KSB SE & Co
- Kirloskar Brothers Limited
- AURORA GmbH & Co. KG
- Armstrong Air
- WILO SE CNP Pumps India Pvt. Ltd
- Torishima Pump Mfg. Co., Ltd.
- Patterson Pump Company
- C.R.I. Pumps Private Limited
- Pentair Plc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: HVAC PUMP MARKET, BY PUMP TYPE
CHAPTER 5: HVAC PUMP MARKET, BY PRODUCT TYPE
CHAPTER 6: HVAC PUMP MARKET, BY END-USER
CHAPTER 7: HVAC PUMP MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'HVAC Pump Market' The HVAC pump market size was valued at $31.6 billion in 2021, and is estimated to reach $55.5 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031.Heating, ventilation, and air conditioning (HVAC) system operates on the basis of fluid movement through piping systems to maintain a certain temperature in buildings while using the least amount of energy possible. One component of this system is the HVAC pump, which distributes fluids throughout the building or structure as needed. The most popular form of HVAC pump used is a centrifugal pump, which employs an impeller blade arrangement to create a pressure difference between two sides so that it may pump liquid at a high-speed rate by producing circular motions with blades linked to its spinning axle.
The HVAC pump market growth is driven by factors such as rapid industrialization; need for pumps in HVAC systems; increased use of cooling & heating devices; and surge in need for smart HVAC systems in industrial, commercial, and residential applications. Furthermore, the smart system increases the acceptance of Internet of Things (IoT) and artificial intelligence (AI) to monitor pump functioning behaviors, resulting in business growth. For instance, Nlyte Software, a leader in data center infrastructure management (DCIM) software, was bought by Carrier Global. The development will expand the HVAC pump industry options. Furthermore, increased awareness of the health benefits is driving the demand for HVAC pump market trends in a variety of applications.
Asia-Pacific dominated the global HVAC pump market, accounting for around 47.1% of HVAC pump market share of the global market. This is attributed to high demand for booster pumps and centrifugal pumps across many countries. Moreover, increase in R&D investments in developing countries and rise in government investments in automation, AI, and IoT solutions which are implemented on a large scale to bring energy efficiency, reduce costs, and create a comfortable occupant experience in commercial buildings.
Furthermore, smart HVAC systems make less noise than other systems, resulting in increased demand for these systems in the coming years. This is expected to boost the demand for HVAC pump in coming years.
The centrifugal pump segment registered highest revenue in 2021, owing to wide usage application in healthcare, construction, and logistics,
Furthermore, market key players have implemented various strategic moves such as product launch, collaboration, and partnership to strengthen their market position. For instance, in June 2019, Engie was awarded a contract by the Canadian Government to modernize, manage, and operate a district heating system. A 35-year contract has been awarded to Innovate Energy, which includes Engie, PCL Construction, and Black & McDonald to operate a district energy system in Canada's Capital region that offer heating and cooling to 80 buildings.
However, during the pandemic, various manufacturers in the HVAC pump market had to stop their business in countries such as China, the U.S., and India. This break directly impacted sales of HVAC pump companies. In addition, lack of manpower and raw materials constricted supply of equipment of HVAC pumps, which has negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of HVAC pump companies.
Key findings of the Study
- The report provides an extensive analysis of the current and emerging HVAC pump market opportunity and dynamics.
- Depending on pump type, the centrifugal pumps segment dominated the HVAC pumps market, in terms of revenue in 2021 and is projected to grow at a significant CAGR during the forecast period.
- By product type, the multi-stage segment has registered highest revenue in 2021.
- Asia-Pacific is projected to register highest growth rate in the coming years.
The report provides an extensive analysis of the current trends and emerging opportunities of the market.
In-depth HVAC pump market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.
Companies Mentioned
- Bard Manufacturing Company Inc.
- KSB SE & Co
- Kirloskar Brothers Limited
- AURORA GmbH & Co. KG
- Armstrong Air
- WILO SE CNP Pumps India Pvt. Ltd
- Torishima Pump Mfg. Co., Ltd.
- Patterson Pump Company
- C.R.I. Pumps Private Limited
- Pentair Plc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 245 |
| Published | May 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 31560.5 million |
| Forecasted Market Value ( USD | $ 55457 million |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
