Circulator Pumps Market Overview
The report serves as a comprehensive guide for investors, stakeholders, and market followers of the Circulator Pumps Market. It offers an in-depth analysis of the market size, segmentation, drivers, and restraints. Factors that are expected to impact the industry positively or negatively are also included, providing decision-makers with a clear understanding of the Circulator Pumps industry's future outlook.
The Global Circulator Pumps Market is valued at USD 19.1 Bn market in the year 2022 and is expected to grow at 3.4% CAGR to become USD 24.4 Bn market in 2029.
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Circulator Pumps Market Report Scope and Research Methodology
The research for this report employs a combination of primary and secondary research methods to provide a detailed and accurate analysis of the Circulator Pumps Market. The bottom-up approach is utilized to estimate the market size, while secondary research is used to identify key players in the market. Primary research involves conducting interviews with significant opinion leaders and industry experts, including business owners and marketing specialists. Secondary research involves a thorough review of the annual and financial reports of top manufacturers to calculate their market revenues.
Circulator Pumps Market Segmentation
Global Circulator Pumps Market, Product Type (2022-2029)
• Vertical circulator pumps
• Horizontal circulator pumps
Circulator pumps that may be placed vertically in a hydronic heating or cooling system are known as vertical circulator pumps. They are often utilised in situations when there is not enough room for a horizontally placed pump, such as in tall buildings. Since they are more effective at transporting fluids vertically, vertical pumps are also utilised in systems that need high flow rates or high pressure.
Conversely, horizontal circulator pumps are made to be mounted horizontally in a hydronic heating or cooling system. They are frequently utilised in situations with more space and lower flow rate and pressure requirements compared to vertical pumps. In general, horizontal pumps are simpler.
Global Circulator Pumps Market, Application (2022-2029)
• Residential
• Commercial
• Industrial
Pumps with wet rotor designs, or circulator pumps, have rotors that are submerged in the fluid being pushed. They are often less expensive than other types of circulator pumps and are frequently utilised in domestic heating systems.
Pumps with a dry rotor design, or circulator pumps, keep the rotor isolated from the fluid being pumped via a seal. They are more energy-efficient than wet rotor pumps and are frequently used in heating and cooling systems in commercial and industrial buildings.
Pumps with a totally enclosed motor, known as canned motor circulator pumps, are cooled by the fluid they are pumping. They are particularly energy-efficient and frequently utilised in high-temperature applications.
Global Circulator Pumps Market, No. Of Stages (2022-2029)
• Single Stage
• Multi-Stage
Residential: Heating and cooling systems in homes, apartments, and other residential structures are the main uses for circulator pumps in residential applications. With a market value of USD 3.78 billion in 2022, the residential application category held the greatest share of the global circulator pump market. In the upcoming years, the demand for energy-efficient heating and cooling systems in residential buildings is anticipated to propel market expansion.
Commercial: Larger buildings including offices, hospitals, schools, and shopping centres frequently use circulator pumps for commercial applications. In the upcoming years, the commercial application sector is anticipated to increase at a faster rate than the residential application segment due to the growing adoption of energy-efficient heating and cooling systems in business settings.
Industrial: Circulator pumps are employed in a variety of industrial settings, including manufacturing facilities, refineries, and chemical processing plants. From 2023 to 2029, the industrial application segment is anticipated to expand at a CAGR of 5.5%. In 2022, this segment's market was worth USD 1.28 billion.
Global Circulator Pumps Market, Power Consumption (2022-2029)
• Below 1 HP
• 1-5 HP
• Above 5 Hp
The segment for single-stage circulator pumps held the biggest market share in 2022. However, due to its increased efficiency and better capacity to handle higher-pressure applications, the multi-stage circulator pumps market is anticipated to have faster growth throughout the projection period.
Global Circulator Pumps Market, Distribution Channel (2022-2029)
• Direct Sales
• Distributors
The greater market share in 2022 belonged to the sub-1 HP sector, which was primarily driven by the increased demand for compact circulator pumps in residential and small commercial applications. Due to the rising demand for larger-sized pumps in commercial and industrial applications, the 1-5 HP category is anticipated to experience substantial growth throughout the projected period.
Global Circulator Pumps Market, Rotor Type (2022-2029)
• Below 100 Ah
• 100-200 Ah
• Above 200 Ah
The distributor category held the greatest market share in 2022, backed by distributors' extensive distribution networks and capacity to offer consumers specialised solutions. Due to the growing trend of direct-to-customer sales and the accessibility of online sales platforms, the direct sales category is anticipated to have quicker growth throughout the projected period.
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Circulator Pumps Market Regional Insights
The research includes a global-level regional analysis, providing a comprehensive understanding of the dominant market share and penetration in different regions. It also highlights emerging regions expected to become major markets for Circulator Pumps . The report encompasses a competitive analysis, focusing on growth models, new strategies, and technologies adopted by key players in the market.
Circulator Pumps Market Key Players
1. Grundfos - Bjerringbro, Denmark 2. Wilo SE - Dortmund, Germany 3. Taco Comfort Solutions - Cranston, Rhode Island, USA 4. Xylem Inc. - Rye Brook, New York, USA 5. Armstrong Fluid Technology - Toronto, Canada 6. Honeywell International Inc. - Charlotte, North Carolina, USA 7. Pentair plc - London, UK 8. Rheem Manufacturing Company - Atlanta, Georgia, USA 9. Bell & Gossett (a brand of Xylem Inc.) - Morton Grove, Illinois, USA 10.Flowserve Corporation - Irving, Texas, USA 11.Danfoss A/S - Nordborg, Denmark 12.DAB Pumps S.p.A. - Mestrino, Italy 13.Zhejiang Doyin Pump Industry Co., Ltd. - Taizhou, China 14.ITT Inc. - White Plains, New York, USA 15.KSB SE & Co. KGaA - Frankenthal, Germany 16.Mitsubishi Electric Corporation - Tokyo, Japan 17.Panasonic Corporation - Osaka, Japan 18.Ebara Corporation - Tokyo, Japan 19.Shimge Pump Industry Group Co., Ltd. - Taizhou, China 20.Armstrong International, Inc. - Three Rivers, Michigan, USA 21.Circulator Pump Sales, Inc. - Denver, Colorado, USA 22.Taizhou Zunhualong Pump Co., Ltd. - Taizhou, China 23.Roper Technologies, Inc. - Sarasota, Florida, USA 24.Franklin Electric Co., Inc. - Fort Wayne, Indiana, USA 25.Shakti Pumps (India) Ltd. - Pithampur, India
Key questions answered in Circulator Pumps Market are:
- What was the Circulator Pumps market size in 2022?
- What is the expected Circulator Pumps market size by 2029?
- What is the growth rate of the Circulator Pumps Market?
- Which are the factors expected to drive the Circulator Pumps market growth?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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