The global circulator pumps market was valued at $ 16.42 billion in 2020 and is projected to reach $ 24.57 billion by 2032, registering a CAGR of 3.4% from 2023 to 2032. A circulator pump is a centrifugal pump specifically engineered for the purpose of circulating fluids within a closed system. Widely utilized in heating, ventilation, and air conditioning (HVAC) systems, as well as various industrial applications requiring effective liquid movement, these pumps play a crucial role in maintaining fluid circulation efficiency.
The global population along with globalization is rising at a significant rate. Various organizations such as United Nations and The World Bank have estimated that the world population will reach above 9.5 billion in 2050, from about 8 billion in 2022. This will increase the demand for residential and commercial buildings across the world, especially in developing nations such as China. India, Brazil, South Africa, and others. Moreover, a rise in awareness regarding the sustainable living is also driving the market growth. Energy efficient circulator pumps provide homeowners with a cost-effective and durable solution for fluid circulation. Requiring minimal maintenance, circulator pumps save on annual maintenance costs.
However, fluctuations in raw material prices may hinder market growth. Contrarily, an increase in the construction of green buildings across various regions offers lucrative growth opportunities for the market player during the forecast period.
The rise in global inflation is a new major obstructing factor for the entire industry. The inflation, which is a direct result of the Ukraine-Russia war and few long-term impacts of the coronavirus pandemic, has introduced volatility in the prices of raw materials used for construction which is a major end-user sector of circulator pump. In addition, inflation is expected to worsen in the coming years, as the possibility of the ending of the war between Ukraine and Russia is less. However, a peace agreement between Ukraine and Russia can be devised, with the continued talks between different countries, which is expected to end the war between them and reduce global inflation.
The circulator pumps market is segmented on the basis of flow rate, end user, application, and region. By flow rate, the market is divided into Less Than 15 M3/hr, 15-30 M3 Hr, 30-45 M3/Hr, and More than 45 M3/Hr. By end user, it is categorized into residential, commercial, and industrial. By application, it is categorized into Air Conditioning, Hot water heating system, Industrial Circulation, Domestic water Recirculation, Solar and Geo Thermal Systems, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
The major players that operate in the global market have adopted key strategies such as product launch, to strengthen their market outreach and sustain the stiff competition in the market.
The global population along with globalization is rising at a significant rate. Various organizations such as United Nations and The World Bank have estimated that the world population will reach above 9.5 billion in 2050, from about 8 billion in 2022. This will increase the demand for residential and commercial buildings across the world, especially in developing nations such as China. India, Brazil, South Africa, and others. Moreover, a rise in awareness regarding the sustainable living is also driving the market growth. Energy efficient circulator pumps provide homeowners with a cost-effective and durable solution for fluid circulation. Requiring minimal maintenance, circulator pumps save on annual maintenance costs.
However, fluctuations in raw material prices may hinder market growth. Contrarily, an increase in the construction of green buildings across various regions offers lucrative growth opportunities for the market player during the forecast period.
The rise in global inflation is a new major obstructing factor for the entire industry. The inflation, which is a direct result of the Ukraine-Russia war and few long-term impacts of the coronavirus pandemic, has introduced volatility in the prices of raw materials used for construction which is a major end-user sector of circulator pump. In addition, inflation is expected to worsen in the coming years, as the possibility of the ending of the war between Ukraine and Russia is less. However, a peace agreement between Ukraine and Russia can be devised, with the continued talks between different countries, which is expected to end the war between them and reduce global inflation.
The circulator pumps market is segmented on the basis of flow rate, end user, application, and region. By flow rate, the market is divided into Less Than 15 M3/hr, 15-30 M3 Hr, 30-45 M3/Hr, and More than 45 M3/Hr. By end user, it is categorized into residential, commercial, and industrial. By application, it is categorized into Air Conditioning, Hot water heating system, Industrial Circulation, Domestic water Recirculation, Solar and Geo Thermal Systems, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
The major players that operate in the global market have adopted key strategies such as product launch, to strengthen their market outreach and sustain the stiff competition in the market.
Competition Analysis
Key companies profiled in the circulator pumps market report include Grundfos, Wilo SE, Taxo Cofort Solutions, Xylem Inc., Honeywell International Inc., Flowserve Corporation, Danfoss A/S, Mitsubishi Electric Corporation, Panasonic Corporation, Armstrong International, Inc., and KSB SE & Co KGaA.Key Benefits for Stakeholders
- The report provides an extensive analysis of the current and emerging circulator pumps market trends and dynamics.
- In-depth market analysis is conducted by constructing market estimations for the key market segments between 2020 and 2032.
- Extensive analysis of the circulator pumps market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
- The global circulator pumps market forecast analysis from 2023 to 2032 is included in the report.
- The key market players within the circulator pumps market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the circulator pump industry.
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Key Market Segments
By Flow Rate
- Less than 15 m3/h
- 15-30 m3/hr
- 30-45 m3/hr
- More than 45 m3/hr
By application
- Hot water heating system
- Industrial Circulation
- Domestic water Recirculation
- Solar and Geothermal Systems
- Others
- Air Conditioning
By End User
- Residential
- Commercial
- Industrial
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- Latin America
- Brazil
- Argentina
- Colombia
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- UAE
- Nigeria
- Egypt
- Rest of Middle East And Africa
Key Market Players
- Grundfos
- WILO SE
- Taco Comfort Solutions
- Xylem Inc.
- Armstrong Fluid Technology Inc.
- Honeywell International Inc.
- Pentair plc
- Rheem Manufacturing Company, Inc.
- Danfoss A/S
- Flowserve Corporation
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CIRCULATOR PUMPS MARKET, BY FLOW RATE
CHAPTER 5: CIRCULATOR PUMPS MARKET, BY APPLICATION
CHAPTER 6: CIRCULATOR PUMPS MARKET, BY END USER
CHAPTER 7: CIRCULATOR PUMPS MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Grundfos
- WILO SE
- Taco Comfort Solutions
- Xylem Inc.
- Armstrong Fluid Technology Inc.
- Honeywell International Inc.
- Pentair plc
- Rheem Manufacturing Company, Inc.
- Danfoss A/S
- Flowserve Corporation
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 | 211 |
| Published | February 2024 |
| Forecast Period | 2020 - 2032 |
| Estimated Market Value ( USD | $ 16.42 billion |
| Forecasted Market Value ( USD | $ 24.57 billion |
| Compound Annual Growth Rate | 3.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
