Axial Flow Pump Market

Axial Flow Pump Market Size (2023-2028):

The Global Axial Flow Pump Market was worth US$ 29.51 billion in 2022 and is projected to reach a valuation of US$ 38.39 billion by 2028 and is predicted to register a CAGR of 4.70% during 2023-2028.

Market Overview:

Due to causes such as increased industrialization, technical advancements, and fast urbanization, the need for energy fuel has risen dramatically in recent years. This is projected to increase the product's adoption across a variety of end-use industries, including oil and gas, power, and water and wastewater treatment.

Market Growth:

In countries such as the United States, China, the United Arab Emirates, India, and Australia, axial flow pumps are increasingly being used in the construction of water treatment and wastewater management facilities, which is projected to boost the market throughout the projection period. Axial flow pumps are also expected to become more popular in the chemical industry, as they provide a high discharge rate with regulated vertical heads, reducing spillage.

Market Drivers:

The increased requirement for appropriate sewage systems has come from the fast expansion of residential and commercial buildings. The municipal government is anticipated to invest heavily in pumping solutions in order to provide a consistent water supply in residential areas. The growing urbanization of the world is predicted to boost demand for axial flow pumps in the household water and wastewater industries.

The axial flow pump market is predicted to grow in demand as people become more environmentally conscious and governments are willing to spend on water and wastewater treatment.

Another cause for the worldwide axial flow pump market's growing trend is the rising demand for energy fuel. There is a growth in demand for crude oil in domestic transportation and international logistics, which is expected to stimulate onshore and offshore fuel exploration. This is yet another positive indicator for the worldwide axial flow pump market, as they provide utility functions as well as the ability to handle subsea pressures.

Market Restraints:

Axial Flow Pumps, on the other hand, are not designed to handle very viscous fluids and can be difficult to use in high-pressure situations. This aspect is expected to stifle market expansion.

AXIAL FLOW PUMP MARKET REPORT COVERAGE:

Market Segmentation:

Axial Flow Pump Market - By Product Type:

• Horizontal
• Vertical

The horizontal product category was the biggest income generator in 2021, and it's expected to expand at a CAGR of 4.3 percent over the next five years. The horizontal axial flow pump has a number of important features, including ease of assembly and disassembly, routine inspection ease, high discharge rates, flexible pump housing, and others, that make it an excellent choice for a variety of fluid transport applications. Horizontal axial flow pumps are used in a variety of industries, including agriculture, chemical manufacture, water treatment, and others. This element is accelerating the global market's growth of horizontal product types.

Axial Flow Pump Market - By Application:

• Water Treatment
• Irrigation
• Evaporators
• Others

Others dominated the global market by application in 2021 and are expected to increase at a CAGR of 5.1 per cent over the forecast period. This is due to the fact that axial flow pumps comprise various types of characteristics, including high discharge rate, adjustable pitch, low hydrodynamic losses, and others, which make them ideal for applications like fisheries, sewage digesters, high volume mixing, heat recovery systems, and so on. As the world's population grows, so does the demand for heat recovery systems, and axial flow pumps are commonly employed in power plants to circulate process fluid. Global electricity demand, for example, is predicted to expand at a CAGR of 2.1 per cent by 2027, according to research issued by the International Energy Agency.

Axial Flow Pump Market - By End-Use:

• Chemical
• Municipal
• Pulp & Paper
• Food & Beverage
• Agriculture
• Others

Agriculture was the largest revenue source in 2021, and it is expected to expand at a CAGR of 4.0 per cent during the projection period. The use of axial flow pumps in agricultural applications such as irrigation, drainage, and fisheries is a major market trend in the global market. Furthermore, as the world's population grows, so does the demand for crop production, which necessitates the use of axial flow pumps for irrigation.

Market Regional Analysis:

The Axial Flow Pump Market Report includes the segmentation of regions:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

During the forecast period, the Asia-Pacific axial flow pump market is expected to grow at the fastest rate of 5.3 per cent, accounting for 41.9% of the total axial flow pump market share in 2021. This is due to an increase in the demand for axial flow pumps in applications such as agriculture irrigation, sewage treatment, and fishery flood control.

Over the forecast period, North America is expected to grow at a CAGR of 2.2 per cent. The existence of superior processing capabilities in the United States, as well as ongoing R&D initiatives for pump manufacture, is projected to propel the market in the region. Furthermore, increased water constraint has prompted innovations that are anticipated to boost regional product demand.

The use of axial flow pumps in Europe is ascribed to favourable government initiatives in nations such as Italy, Germany, France, and the United Kingdom to set up water and wastewater management systems. However, due to the recent outbreak of COVID-19, which forced the temporary closure of several production plants, demand is projected to fall in the near term.

The rapidly developing power generation sector in Brazil and Argentina is likely to generate demand for axial power pumps in Central and South Africa. Furthermore, the replacement of commonly used centrifugal pumps with axial flow pumps is expected to boost product demand in the region due to their capacity to raise workplace efficiency at power plants and water management plants.

The demand for axial pumps in Latin America is being driven by increased mining operations in the region, as well as increasing industrialization. In the projected period, the market demand for axial pumps will be fuelled by the growing requirement to treat wastewater created by the industrial sector, as well as declining groundwater levels.

Market Recent Developments:

• Edge Control from Xylem is expected to reduce energy consumption by 25%.
• Water utilities account for about 2% of global greenhouse gas (GHG) emissions – almost the same as the shipping industry – and this proportion is expected to rise. Xylem Edge Control, a new suite of innovative digital solutions from Xylem, will help wastewater utilities swiftly and inexpensively reduce a significant amount of these emissions. The Edge Control technologies will help cash-strapped utilities meet compliance goals while reducing aeration energy use by up to 25%.

Market Key Players:

1. Xylem
2. Grundfos
3. KSB SE & Co. KGaA
4. Sulzer Ltd.
5. PentairWeir Group PLC
6. Atlas Copco
7. Ebara Corporation
8. Pumps India Private Ltd