Hot Water Circulator Pump Market Opportunities, Sales Revenue, Business Features by Forecast 2021

Global Non-Volatile Memory Market Research Report: Forecast to 2023

Global Hot Water Circulator Pump Market Research Report: Forecast to 2021

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Global Non-Volatile Memory Market Research Report: Forecast to 2023

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Global Non-Volatile Memory Market Research Report: Forecast to 2023

Summary The global hot water circulator pump market is projected to reach USD 22,083.3 Mn at a CAGR of 3.14% over the forecast period of 2017-2021, affirms Market Research Future (MRFR) in an in-depth study. In terms of volume, the market is anticipated to attain 42.07 Mn units at a CAGR of 2.26% by the end of 2021.

Energy efficiency is at the forefront of the building design and infrastructure regulations which has provided an impetus to the hot water circulator pump market. Hot water circulator pumps are capable of delivering the exact required output with minimum electricity and far less maintenance cost which results in significant cost and energy saving. Hot water circulator pumps are highly desirable within the context of growing energy as well as water scarcity. These pumps operate in an optimal manner and are useful in buildings with long water distribution systems. Riser in the construction of multi-story buildings has added to the market growth.

Building owners are focusing on reducing lifecycle cost in equipment and overall building costs.

Sustainable housing schemes and green buildings extensively make use of these pumps. Reviving construction of new buildings in developed economies paired with the rapid residential construction in the developing countries has paved the way for the growth of the hot water circulator pump market.

Furthermore, an increase in the construction of commercial establishments such as hotels, office buildings, healthcare facilities, and others is also expected to drive the market.

Various energy labeling schemes and a greater focus on energy conservation has fueled the growth of the market. In addition, the governments in multiple countries have progressively set strict efficiency standards for the environmental design of energy-using products to help reduce energy usage and carbon footprint.

For instance, builders and designers in Europe are required to comply with energy efficiency index (EEI) and minimum efficiency index (MEI) which has induced demand within the hot water circulator pump market.

Fierce competition in the market has forced the market players to offer quality products at competitive prices which have further raised the adoption of these pumps. However, the high cost of maintenance and installation can hinder the growth of the market.

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Market Segmentation The global hot water circulation pump market segmentation is based on the following dynamics: application and type.

By type, the market is segmented into single-stage and multi-stage pump. Herein, the single-stage pumps segment holds the highest share of the market, edging past the multi-stage pump segment. The rising preferences among consumers for single-stage pump for residential requirements has been one of the biggest factors behind the growth of this segment. Additionally, the low cost of maintenance compared to multi-stage pumps is another key reason pushing the demand for single-stage pumps.

By application, the market includes industrial, residential, and commercial. The industrial segment holds the leading position in the global hot water circulator pump market. The segment is further anticipated to garner considerable growth over the forecast period to remain at the top of the market standings. The growth of the market is due to the high need for hot water circulation pump across various industries like power plants, textile, food and beverages, pharmaceuticals, chemicals, and others.

Regional Analysis By region, the hot water circulator pump market has been segmented into the US, Rest-of-the-World (RoW), China, Europe, and Japan.

Europe is the dominant market for hot water circulator pump. Energy efficiency is a major focus of the European Union which has reflected positively on the growth of the Europe hot water circulator pump market. The governments in the region have set stringent efficiency standards for energy-related products.

Moreover, green buildings have become a common phenomenon in Europe and builders are required to adhere to EU pump efficiency regulations to earn green building certification which is favoring the growth of the market. The UK, France, and Germany are the key contributors to the Europe hot water circulator pump market.

The US is the second largest market for hot water circulator pump and is a relatively mature market.

Continued new building construction activities in the US along with robust demand from the residential sector is boosting the growth of the US market.

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Global Non-Volatile Memory Market Research Report: Forecast to 2023

Competitive Landscape The global hot water circulator pump market is host to a number of key players. A list of players was identified by MRFR in its report. This includes names such as BacoEngineering.com (the U.K.), Grundfos (Denmark), Xylem Inc (the U.S.), AUMA Riester GmbH & Co. KG (Germany), Emile Egger & Cie SA (Switzerland), Armstrong Fluid Technology Limited (Canada), Flowserve Corporation (the U.S.), Taco (the U.S.), Calpeda S.p.A (Italy), and Saer Elettropompe SpA (Italy).

Industry Updates: January 2019, Taco Comfort Solutions recently announced about the launch of SmartPlus-e, a highly efficient domestic hot water recirculation system.

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Global Non-Volatile Memory Market Research Report: Forecast to 2023

owned company based in Norway that has developed a field-proven portfolio of completion systems and intervention tools.

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