The global centrifugal pump market grew at a CAGR of around 4% during 2014-2019. Looking forward, IMARC Group expects the global centrifugal pump market to exhibit stable growth during the next five years.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Rapid industrialization, along with increasing product demand from the wastewater treatment sector, is among the key factors driving the growth of the market. Furthermore, the growing need to replace existing industrial pumps in the pharmaceutical and food and beverage industries is also providing a boost to the market growth. The competitive landscape of the market has also been analyzed in the report with the detailed profiles of the key players.
