The global double suction pump market size is anticipated to grow from USD 20 billion to USD 32.57 billion in 10 years. The market will experience rapid growth due to technological advancements in double suction pumps during the forecast period.
Newark, Feb. 22, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 20 billion in 2023 global double suction pump market will reach USD 32.57 billion in 2033. A double suction pump is called a centrifugal pump, with two suction impellers arranged on opposing sides of the shaft. The pump can take in fluid from both sides with its design. This reduces axial thrust and guarantees a more balanced flow. Double suction pumps provide a versatile design, balanced flow, and great efficiency. These pumps are trustworthy and effective for various applications due to their balanced flow and hydraulic forces. In industrial settings, municipal water systems, and irrigation systems, double-suction pumps are utilized in water delivery systems. HVAC systems (heating, ventilation, and air conditioning) also use these pumps extensively. They are also used by power-producing facilities to do things like running water circulation and maintaining cooling systems. Additionally, the marine industry and the chemical and petrochemical sectors employ it. Double suction pumps improve dependability by minimizing wear and tear on the pump’s internal parts. They have a longer operational life and are more affordable. Large volumes of fluid are moved efficiently by these pumps, which supports the stability and proper operation of vital systems in various sectors.
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Key Insight of the Global Double Suction Pump Market
Asia Pacific will dominate the market during the forecast period.
Due to urbanisation and a vibrant industrial landscape, the enormous infrastructure development in nations like China and India will fuel the demand for double-suction pumps. The demand for double-suction pumps is further fueled by the region’s industrial growth in the processing, manufacturing, and power-generating sectors. The increased need for double suction pumps will also result from water management initiatives brought on by the water shortage. Due to the region’s dedication to sustainable practices, renewable energy projects, such as double suction pumps, are used more frequently, supporting the market’s expansion.
In 2023, the horizontally split segment dominated the market with the largest market share of 55% and revenue of 11 billion.
The type segment is divided into vertically split and horizontally split. In 2023, the horizontally split segment dominated the market with the largest market share of 55% and revenue of 11 billion.
In 2023, the cast iron segment dominated the market with the largest market share of 37% and revenue of 7.40 billion.
The material type segment is divided into cast iron, steel, polymer and composite. In 2023, the cast iron segment dominated the market with the largest market share of 37% and revenue of 7.40 billion.
In 2023, the water and wastewater treatment segment dominated the market with the largest market share of 38% and revenue of 7.60 billion.
The end-use segment is divided into power generation, water and wastewater treatment, industrial, irrigation, marine, and others. In 2023, the water and wastewater treatment segment dominated the market with the largest market share of 38% and revenue of 7.60 billion.
Advancement in market
Given the partnership between KSB Guard and Omega Pumps, Spanish farmers can benefit from irrigation. A monitoring device called KSB Guard shows how digitalization may enhance pump upkeep and servicing. It also needs pipeline infrastructure that can be depended upon in an emergency and pumping stations that are positioned strategically. With the help of this monitoring equipment, even fully functional pumps can be brought into the digital age. The compact gadget comprises a sensor unit holding a temperature and a vibration sensor.
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Market Dynamics
Driver: The rising expenditures on infrastructure.
Increased infrastructure development is the driving force behind the increased demand for double-suction pumps. In sectors including water treatment, chemicals, mining, and power generation, the need for double suction pumps is growing due to industrial expansion or industrialization. The need for double suction pumps will be driven by infrastructure projects, particularly funding and activities devoted to urban growth, such as creating water supply systems, building commercial spaces, and pursuing renewable energy programmes. These projects call for dependable, high-capacity pumping solutions, and double suction pumps’ balanced flow characteristics make them ideal for these kinds of uses. The need for these pumps is rising due to the development of large-scale structures, transportation infrastructure, and renewable energy installations.
Restraints: The high price of dual suction pumps.
The increased expense of double suction pumps will impede the market’s expansion. The use of high-quality materials, precision engineering requirements, and the intricacy of the design are the main causes of the high costs. Since new pump designs require changes to existing systems or the inclusion of new support structures, installation costs add another layer of price. Furthermore, it costs more to maintain double suction pumps because it takes professional staff. As a result, the high price of double suction pumps will restrict and impede market expansion.
Opportunities: Double suction pump applications are growing due to technological developments.
Advancements in technology are augmenting the efficacy, dependability, and intelligence of double suction pumps, broadening and diversifying their uses across several sectors. Furthermore, the use of double suction pumps will grow due to continuous advancements in energy efficiency, automation, and smart features for real-time monitoring. Strict environmental laws pushing businesses to use environmentally friendly technology have also fueled more innovation and research into creating sophisticated double suction pumps, fueling the market’s expansion and growth over the projected period. Therefore, throughout the projected period, the market will grow and develop due to technological developments extending the applications for double suction pumps.
Challenges: Complex set-up and maintenance of double suction pumps.
Maintenance intricacies, given the precision designing of double suction pumps, demand precise alignment and balancing during regular upkeep, which is complex and requires qualified and trained personnel. Furthermore, the start-up procedures for double suction pumps are also complex due to the need for meticulous positioning and condition coordination of these systems. These complexities pose challenges regarding skilled personnel requirements, increased capital and time-consuming maintenance.
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Some of the major players operating in the global double suction pump market are:
• Buffalo Pumps
• Goulds Pumps
• Hunan Credo Pump
• Modo Pump Co.
• Pumpiran
• Shanghai Pacific Pump Manufacture
• Sintech Pumps
• Sulzer Ltd.
• Torishima
• Xylem Inc.
Key Segments covered in the market:
By Type
• Vertically Split
• Horizontally Split
By Material Type
• Cast Iron
• Steel
• Polymer
• Composite
By End Use
• Power Generation
• Water and Wastewater Treatment
• Industrial
• Irrigation
• Marine
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
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