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Power Generation Pumps Market

Power Generation Pumps Market

Power Generation Pumps Market Analysis by Product Type (Centrifugal Pumps, Reciprocating Pumps, Rotary Pumps), by Capacity (Small, Medium, High), by Power Type (Coal/Oil, Combined Cycle Gas, Hydroelectric, Nuclear Power Generation Pumps), by Region - Global Forecast 2022-2032

Power Generation Pumps Market
FACT2430MR
  • Jan-2022
  • List of Tables : 128
  • List of Figures : 108
  • 170 Pages
  • Industrial Goods

Global Power Generation Pumps Market Snapshot

The global power generation pumps market is estimated at USD 865 Million in 2022 and is forecast to surpass USD 1,857 Million by 2032, growing at a CAGR of 7.9% during 2022-2032.

Report Attributes

Details

Base Year Value (2021A)

USD 850 Million

Estimated Year Value (2022E)

USD 865 Million

Projected Year Value (2032F)

USD 1,857 Million

Global Growth Rate (2022-2032)

CAGR 7.9%

East Asia Market Share in 2021

~28%

East Asia Market Growth Rate (2022-2032)

CAGR 8.3%

Collective Value Share (China, Saudi Arabia, UAE, US) 2021: Top 4 Countries

~31%

Top 5 Companies Market Share in 2021

~33%

Key Companies Profiled

  • Xylem
  • Flowserve Corporation
  • KSB SE & Co. KGaA
  • Weir Group
  • Sulzer Ltd.
  • Pentair Ltd.
  • IDEX Corporation
  • SPX Flow, Inc.
  • Alfa Laval

The global power generation pumps market accounts for ~1% of the global pumps market in 2022. The global power generation pumps market is estimated to have an absolute $ opportunity of USD 992 Million during the assessment period of 2022-2032.

Offering new technologies and systems to boost performance, enhancing the reliability of power generation pumps continues to be a key strategy for leading players in this market.

According to the International Energy Agency, the energy demand globally rose by 2.6% in 2020, which was twice the previous year’s rate. Oil, natural gas, and coal met 65% of global energy demand, while renewable energy accounted for the rest.

With the development of new power plants to meet the ever-increasing demand for energy, the focus on energy efficiency has increased.

On account of process optimization to reduce energy consumption, the demand for power generation pumps offering efficiency is expected to grow. Controlling the excess flow of energy translating into increased operating cost is the key focus area of manufacturers.

Power generation pumps with frequency control that adjusts pump’s performance to the current needs are also gaining traction.

Power Generation Pumps Market Historical Overview (2017-2021) Vs. Forecast Outlook (2022-2032)

  • East Asia power generation pumps market have been generating maximum revenue for mining pumps manufacturers from past half-decade. Around 28% of overall market valuation for power generation pumps was generated by East Asian countries in 2021 which is forecast to surpass valuation of USD 520 Million by 2032 end, growing with 8.3% CAGR. China leads the power generation pumps business in East Asia and is projected to grow with exciting CAGR of 8.5% during 2022-2032.
  • The emergence of smart pumping systems being highly versatile and cost-effective in nature led the power generation pumps market to grow with CAGR of 6.3% with an absolute $ opportunity of USD 745 Million during 2017-2021.
  • By product type, centrifugal pumps held the maximum market share of 37% in 2021 and is expected to gain 300 BPS within the forecast period and will contribute the market with share of 41% by 2032 end.
  • Under capacity segments available in market of power generation pumps, (500-1000 gpm) power generation pump is anticipated to hold market share of 51% in 2022 and is likely to provide an absolute $ opportunity of USD 505 Million by reaching a market valuation of USD 947 Million by the end of forecast period in 2032.

Smart Monitoring Technologies Gaining Traction in Power Generation Pumps Market

Older motors and power generation pumps are resulting in increased risk of unplanned outage along with the higher cost to keep them running. Hence, to ensure safe power plant operations, adoption of advanced monitoring technologies is gaining ground. It is highly likely that demand for pumps that are equipped with sensors is likely to grow in the near future.

Sensor technologies are also becoming popular, supporting the process of automatically monitoring the power generation pumps. The pumps outfitted with multiple sensors to measure voltage, current, vibration, pressure, and temperature are being developed and designed.

Capable of detecting early problems, preventing forced outrages and minimizing pump failures, wireless sensors are being integrated into pumps to monitor vibration, cavitation, and seals. In the last few years, equipment monitoring devices operating on wireless networks have gained popularity in the power generation pumps market.

High Installation and Maintenance Cost of Power Generation Pumps to Remain Biggest Challenge

The cost of installing power generation pumps has increased in recent years. Considering current design practices, the life-cycle cost of the pump including cost of installation, operation, and maintenance has also increased.

Moreover, power generation pumps used for primary application in the power plants need more maintenance. To ensure reliability and optimum efficiency, the components of both positive displacement pumps and centrifugal pumps used in the power generation require timely inspection, service, and replacement if necessary.

This is leading to the high maintenance cost of power generation pumps. Many manufacturers in the power generation pumps market have started providing kits to repair the pumps and schedule maintenance.

However, the use of counterfeit parts has also increased, leading to the system downtime and damage, resulting in more cost and even replacing the entire pump.

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Region-wise Insights

Which Region holds Maximum Revenue-Generating Opportunities for Power Generation Pumps?

The Asia-Pacific power generation pumps market consisting of East Asia power generation pumps market South Asia power generation pumps market. In East Asia, Power plants are moving towards replacements or retrofit in order to minimize the downtime and maximize the performance.

Moreover, old power plants operating in various East Asian countries are focusing on replacement/retrofit of valves, power generation pumps, and other equipment used in power plants. Stringent regulations on emission levels by governments across various other regions also results in growth of power generation pumps in this region.

Leading power generation industries and companies in China are constantly making notable efforts to utilize technical advantages of these technologies for boosting their power generation outputs and grasp maximum profit margins.

Comprehending the aforementioned points, East Asia power generation pumps market is estimated to reach market valuation of USD 242 Million in 2022 and is forecast to surpass the mark of USD 520 Million by 2032 end. It is projected to grow at an exciting CAGR of 8.3% during the forecast period. In addition, China is expected to lead this region by covering 65% market share in 2022.

Power Generation Pumps Market forecast analysis by Fact.MR

Category-wise Insights

Which Type of Pump is expected to be the Largest Contributor during the Forecast Period in Power Generation Pumps Market?

Centrifugal pumps are highly potential when it comes to power generation application. These pumps are often preferred for attaining high flow rates which helps to generate more power through a hybrid flow channel in a smooth manner. Centrifugal power generation pumps generated around 37% valuation for the overall power generation pumps business in 2021. Investments in new power generation projects and amelioration of existing projects across various regions is majorly surrounded by presence of centrifugal pumps in the power generation market.

Centrifugal power generation pumps, as one of the integral parts of the overall power generation infrastructure, are also being highly sought-after for use in aforementioned applications thus is expected to multiply the global market valuation by factor of 2.2X by 2032 end.

An Adaptive Approach to Modern-day Research Needs

Competitive Landscape: Top Companies in Power Generation Pumps Market

The global power generation pumps market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.

Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced power generation pumps.

Fact.MR has provided detailed information about price points of top manufacturers of power generation pumps market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

Global Power Generation Pumps Market Segments

  • By Product Type :

    • Centrifugal Pumps
      • Single Stage
      • Multi-Stage
      • Axial and Mixed
      • Submersible
      • Seal less and Circular
    • Reciprocating Pumps
      • Piston
      • Plunger
      • Diaphragm
    • Rotary Pumps
      • Gear
      • Vane
      • Screw
      • Lobe
      • Progressive Cavity Pumps
      • Piston
      • Peristaltic
  • By Capacity :

    • Small (Up to 500 gpm)
    • Medium (500-1,000 gpm)
    • High (More than 1,000 gpm)
  • By Power Type :

    • Coal/Oil
    • Combined Cycle Gas
    • Hydroelectric
    • Nuclear
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

- FAQs -

The global value of power generation pumps market is estimated to be worth over USD 865 Million in 2022.
The demand is anticipated to surpass USD 1,857 Million by 2032 end.
During 2017-2021, global power generation pumps market grew at 6.3% CAGR.
Key power generation pump manufacturers include Xylem, Weir Group, Flowserve Corporation, and Sulzer Ltd.
East Asia topped the global power generation pumps market accounting for 28% of its total market valuation in 2021.
Centrifugal pumps under product type segment is expected to contribute around 38% of the overall revenue generated through sales of power generation pumps in 2022.

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