Vertical: EnPBase Year: 2021
Market Size (2021)
$35.24B
Projected (2030)
$51.09B
CAGR (2019–2030)
3.1%
Key Players
10+
In terms of value, the global Centrifugal Pump market is expected to register 4.04% CAGR during the forecast period, 2022 to 2030, and is expected to reach USD51,088.52 million in 2030.
Global Centrifugal Pump market is segmented on the basis of type, End User, and region. By The type, the market is segmented into Overhung Impeller, Vertically Suspended, Between Bearing. Based on End User, the market is segmented into Residential and commercial. Major regions considered within the market are North America, Europe, Asia Pacific, South America, and Middle East & Africa.
Some of the players operating in the market are NOV, Inc. Baker Hughes, Grundfos, Flowserve, Weir Group, Wilo, KSB, Xylem and many more.
Rapidly developing residential & commercial infrastructure, along with the expansion of the manufacturing sector, will propel the global centrifugal pump market growth. The growth is attributed to the increasing investment in the construction industry led to rapid urbanization. The high demand for these type of pumps in the agriculture sector is attributed to the growth of the market. Additionally, the increasing demand for hydrocarbons to fuel various power generation requirements will add to the industry outlook. A centrifugal pump is one of the most widely installed pump types used in a broad range of applications. It is connected in various industry verticals to transfer liquids efficiently in bulk volumes and deliver optimum dynamic head and flow rates to the fluids.
The Centrifugal Pump Market market is projected to grow at a CAGR of 3.1% from 2019 to 2030.
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansSubscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansCentrifugal pump is a mechanical device designed to move liquid by means of the transfer of rotational energy through impellers. These types of pumps are mainly used for pumping water in the industrial and residential properties. They are also majorly used in agriculture sector, municipal water and wastewater plants, power generation plants, petroleum, and chemical industries, among others. Advantages of centrifugal pump include steady delivery, easy to operate, can be mounted horizontally or vertically, and it moves at high speeds with minimal maintenance.
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansSubscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansSubscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansThis report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2021
Historical Period
2019 – 2020
Forecast Period
2022 – 2030
Primary Interviews
150+
Historical data (2019–2021) and forecast period (2021–2030)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansThe centrifugal pumps market is fragmented. Some of the key players in this market are Flowserve Corporation, Schlumberger Ltd, Baker Hughes Company, KSB SE & Co. KGaA, and Weir Group PLC, among others. These companies dominate the market due to their extensive product portfolio catering to each End User and global brand presence. These companies dominate the global market with their extensive presence throughout the value chain.
The major companies are also focusing on signing partnership agreements with distributors, capacity expansions, and adopting different operational strategies to gain an edge in the competitive market space The market for centrifugal pump has grown significantly due to their increasing consumption in numerous end-use applications. Companies in the market offer a wide range of pumps sold through various channels, including e-commerce websites, company-operated websites, retailers and their websites, and distributors. Market participants compete based on several parameters, such as product performance, quality, technical competence, price, and corporate reputation. New product launches, licensing agreements, distribution network expansion, technological investments, and mergers & acquisitions are some of the key strategies adopted by the companies to strengthen their market position and gain a larger market share.
The Centrifugal Pumps Market is fragmented, with many players providing different specification at various stages of the value chain. Numerous companies are actively operating across different regions to cater to the specific demands of the customers. Business expansion through opening of new offices and production sites is the commonly adopted strategies by companies to expand their geographic reach. Due to the high profitability of the market, these major players focus on the acquisition of small regional players for a higher penetration into the regional markets. The growth of market vendors is dependent on market conditions, government support, and industry development. Thus, vendors should focus on regional expansion and products improvement. It has also been predicted that improvement of the global economic scenario, combined with efforts to enhance infrastructure, can fuel market growth, making it an ideal time to launch new products and increase the market presence.
Vendors with better technical and financial could develop innovative products. Therefore, vendors must develop new technologies to stay abreast of emerging technologies that could affect the continuing competitiveness of their products lines in the market.
The pumps market is anticipated to be driven by increasing investments in the oil & gas sector. Technological advancements in pump manufacturing and new product launches focusing on enhanced performance are expected to positively impact the market.
The advancements in Centrifugal pump technology have improved fundamental process operations, increased pump dependability, and provided long-term reductions in routine operating procedures. These developments have also improved pump performance and dependability while using less energy. These advanced pumps are used in various end-use industries such as agriculture, power, industrial wastewater, and chemicals, thereby augmenting their demand over the forecast period.
The demand for pumps in the oil and gas sector is expected to increase as oil and gas companies increase their investment in exploration and production activities around the globe. The market is characterized by the presence of both international and local producers due to the ongoing development in demand for water treatment in the coming years. Companies market their products through a variety of channels, including company websites, e-commerce websites, merchants, distributors, and end-users.
Manufacturers compete on a variety of aspects including product pricing, performance, design, technology, reputation, and availability. Companies are adopting a variety of strategies to expand their market reach and market share, including new product launches, distribution network expansion, R&D spending, and mergers and acquisitions.
The COVID-19 pandemic had a negative impact on the market Material for the year 2020, with small and medium scale companies struggling to sustain their businesses in the near-term future. Several manufacturers had to suffer losses due to the pandemic owing to the volatility of raw material prices, supply chain disruptions, and poor cash flows. This accelerated the number of acquisitions and mergers in the industry with players, such as Ingersoll Rand and Grundfos, being the leaders.
Increasing investments in the exploration and production activities by the oil & gas companies across the globe are anticipated to boost the demand for pumps in the oil & gas industry. The rising number of infrastructure upgrades, in terms of changing or the installation of new pipelines, is expected to have a positive impact on the market.
The advancements in pump technology have resulted in enhanced basic process tasks, increasing the reliability of the pumps, and providing a long-term reduction in everyday operating processes. These advanced pumps are mostly used in industries, such as industrial wastewater, agriculture, power, and chemicals.
Manufacturers are also focusing on new product launches keeping in mind the dynamic requirement of the market. However, new energy efficiency standards that are to be incorporated may require redesigning of pumps by manufacturers, which may incur high costs and time, thereby restraining the market growth. Moreover, due to fluctuating raw material cost and high set up cost, it is difficult for a new player to enter the market.
Dec 2021- Grundfos, among the world leaders in pumps and water solutions, announced the launch of its new generation of large CR pumps in India. Designed with world class efficiency upgrades to provide customers with improved flow performance and pump pressure, the range of CR 185, 215 and 255 caters to a wide range of applications — water supply, water treatment and almost all industrial solutions – including those for high-pressure, hot, dangerous, flammable, and aggressive liquids.
March 2022 - Flowserve partnered with Gradiant to Accelerate Growth in the Water Technology Market. This partnership combines Flowserve’s flow control solutions and product expertise with Gradiant’s innovative, tailored water treatment technology to provide unparalleled water treatment solutions for customers. Flowserve also continues to upgrade its water portfolio with market-leading flow control products and solutions for the water industry. Recent additions include the H2O+ submersible pump, a suite of highly efficient pumps for desalination, and the RedRaven IoT platform, enhancing the overall solutions portfolio and aftermarket services.
January 2021 - Sulzer acquired Nordic Water, a leading provider of screening, sedimentation, and filtration solutions for municipal and industrial water & wastewater applications. The acquisition allows Sulzer to grow its wastewater treatment business through equipment complementary to the existing portfolio of pumps. The company aims at exceptional opportunities to accelerate the growth in municipal and industrial wastewater and expand its offerings into the fast-growing water treatment market.
April 2021- IDEX Corporation acquired Airtech Group Inc., US Valve Corporation, and related entities for a cash consideration of USD 470 million from investment funds managed by EagleTree Capital. Airtech produces and designs various engineered pressure technology, such as centrifugal pumps, regenerative blowers, compressor systems, and valves.
February 2021- ABET Distributing USA, Inc., a significant industrial pump sales and service provider based in Houston, Texas, has announced the launch of CRANE 3" X 3" SELF-PRIMING CENTRIFUGAL PUMPS REBUILT. Self-priming centrifugal pumps are unique in that they can prime themselves under suction lift conditions. They draw fluid up from below-ground tanks or pits, making them easier and safer to work on than those below ground.
January 2022 - Sulzer expanded its portfolio of clean water pumps with the launch of the SES and SKS ranges, which are EN733 standard pumps designed for water treatment facilities, municipalities, and commercial and irrigation applications. The European market models of the pumps are equipped with high-efficiency IE3 or IE4 motors and allow users to choose from various instrumentation and auxiliary component options.
July 2021 - After working with Grundfos pumps for many years, oelheld GmbH, a leading fluid technology provider, announced that it has officially become a UK supplier of Grundfos Pumps. Grundfos offers a broad range of multi- and single-stage centrifugal top-mounted and fully submersible options to suit a wide range of existing setups.
June 2021 - AxFlow Italy, a provider of centrifugal pumps, acquired RPT S.r.l., a leading company in the overhaul and technical revision of centrifugal and volumetric pumps and industrial mixers. The acquisition is expected to help the company further strengthen its service business for centrifugal and other pumps in Europe.
May 2021 - The KSB Group launched a new generation of its submersible grey water pumps. The AmaDrainer 3I is compact with an integrated float switch and a maximum diameter of 155mm, making the pump suitable for narrow spaces such as light wells. According to the company, the product is highly versatile and can be used for cellar rooms, draining shafts, and extracting water from reservoirs and rivers.
July 2021 - Weir Minerals has introduced the Multiflo and Mudflo hydraulic submersible slurry pumps. These pumps have a hydraulically powered wet end specifically designed to reprocess and relocate tailings ponds, maintain water retention dams, and manage slimes and sludge ponds efficiently and safely. The innovative solution combines the Warman MGS pump-end, Multiflo CB32 hydraulic cutters, and ESCO excavation teeth to pump highly charged and abrasive slurries efficiently. Weir Minerals' unique Ultrachrome A05 chrome alloy impeller ensures high wear resistance. The specially engineered suction strainer minimizes the risk of clogging by preventing large solids & debris from entering the pump. Drawing on decades of Warman pump design experience, the Multiflo, Mudflo pump can pump between 150 and 1,200m3/h, up to 82m head.
October 2021 - Wilo announced the Launch of the non-self-priming multistage pump "Wilo-Medana CH1-L". Efficient system integration for drinking water applications. Wilo-Medana is an ideal product for potable water applications developed for water supply, pressure boosting, and industrial irrigation processes. The non-self-priming multistage pump achieves the highest hydraulic outputs with a stainless steel monobloc design, threaded connection, and a single- or three-phase AC motor. The single-phase AC motor is equipped with built-in thermal motor protection, containing an automatic start.
June 2021 - Amarinth, a global manufacturer of low lifecycle cost centrifugal pumps and associated equipment for various industries, announced that it had secured an order with its agent NAMA for 14 API 610 VS4 vertical pumps from ISCCO for the ADNOC Ruwais Refinery East, UAE.
February 2021 - Wilo Middle East, an international premium manufacturer of pumps and systems, announced the acquisition of PumpsPro, a well-reputed pump solution service provider under Direct Trade House International LLC (DTHI). The acquisition is expected to further consolidate Wilo Middle East’s position as a complete solution provider in the UAE and the Middle East region.
In September 2020, Alfa Laval AB won a contract to supply two FPSO (Floating Production, Storage, and Offloading) vessels to Framo pumping systems. The orders have a total value of approximately SEK 130 million. The two orders comprise centrifugal pumping systems for firewater and seawater lift services.
In May 2020, Wilo will extend its impression in the United States by laying out another central command and assembling plant in Cedarburg, Wisconsin. The new base camp will merge the exercises of Wilo USA, Weil Pump, and Scot Pump into a solitary assembling office.
In November 2020, Ringkbing-SkjernForsyning A/S (a Danish water organization) truly Sulzer an agreement to supply siphons for a critical flood insurance project in Denmark. Two extra siphoning stations have been worked to diminish the effect of rising water levels brought about by downpour, waste, and deluge. One XFP baseload siphon and three VUPX top burden siphons will be provided by Sulzer for the Ringkbing siphoning station, as will one XFP baseload siphon and four VUPX top burden siphons for the close by Skaelbkker station.
Map book Copco delivered a complete assortment of great electric centrifugal pumps especially planned for waste, slop, and slurry siphoning applications in January 2019. The siphons help in the anticipation of item disappointment, human error, sudden voltage drop, and overheating.
Pleuger expanded its activities in Singapore in April 2020 to help its situation in the Asian market.
Xylem presented another item, the Flygt N3069 tempered steel centrifugal pump, in July 2019. It is planned fundamentally for modern tasks with high chloride or serious pH values, and it supports consumption obstruction.
Threat of New Entrants
The Centrifugal Pump Market is at the stage where the well-established companies are increasing their investments in enhancing the technical specifications of pump, reducing the cost, and improving their market share in the cost-sensitive market. Therefore, it becomes difficult for new entrants to compete with established brands in the market. Additionally, new players need to invest heavily in creating a brand name through promotion and marketing. Setting up a pump processing facility to convert it into different usable End User in different industry requires substantial capital. However, the barriers to enter the market are not very high, and Pump industry is a capital-intensive business. New entrants are less likely to enter a dynamic industry where the established players keep defining the standards regularly. It significantly reduces the window of extraordinary profits for the new firms thus discourage new players in the industry. Large suppliers, which benefit from their economies of scale operations, can offer more competitive prices to customers. Substantial capital investment is required to establish economies of scale in manufacturing and production
Hence, the threat of new entrants in the global Centrifugal Pump market is expected to be low during the forecast period.
Bargaining Power of Suppliers
There are of various types of raw materials required to produce Centrifugal Pump, depending on the ultimate End User. The Centrifugal Pump manufacturers procure both raw materials and components from suppliers. The presence of raw material suppliers is wide. However, the demand for raw materials to manufacture is moderate as the parts are required to be produced while maintaining the highest manufacturing standards to achieve the required working efficiency in extreme working conditions. This reduces the bargaining power of suppliers.
Major pump manufacturers procure these raw materials and components in very high quantities, which lessens the bargaining power of suppliers up to a certain extent. However, the Pumps companies cannot easily switch suppliers due to the risks involved in not obtaining the required quantity and quality of materials and specification from new suppliers on time, which increases the switching cost. Hence, these manufacturers tend to have long-term contracts with their suppliers
Hence, the bargaining power of suppliers in the global Centrifugal Pump market is expected to be moderate during the forecast period.
Bargaining Power of Buyers
Bargaining power of buyers refers to the impact Centrifugal pump consumers can have on the manufacturers. There are a large number of manufacturers and suppliers in the market, which give the buyers an array of options to choose from. There is a bare minimum cost involved in switching suppliers as the product usually last for a few years. Based on these facts the bargaining power of buyers in high.
Hence, the bargaining power of buyers in the global Centrifugal Pump market is expected to be high during the forecast period.
Threat of Substitutes
Centrifugal Pumps have no direct substitutes that can match their technical specifications and features. Centrifugal Pumps are designed with a specific pattern and standards to cater to the specific requirement in the respective sector, which pushes the major buyers to rely on certain players. Thus, the threat of substitutes in the market is low.
Hence, the threat of substitutes in the global Centrifugal Pump market is expected to be low during the forecast period.
Intensity of Rivalry
The intensity of rivalry, in the submersible pump market is high. Most of the competitors in the market are multinational companies with substantial financial resources. This enables the companies to invest in their research and development department. These companies rely on innovation to stay ahead in the market. The companies are seeking opportunities to expand their services into new Countries with an exhaustive product portfolio. These factors have made the intensity of rivalry, very high.
Hence, the intensity of rivalry in the global Centrifugal Pump market is expected to be high during the forecast period.
Market estimates by geography (2030)
InsightAsia Pacific leads with $19.94B by 2030, while South America is projected to grow fastest at a 3.3% CAGR.
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription Plans| REGION | 2019 | 2021 | 2030 | CAGR | SHARE |
|---|---|---|---|---|---|
| North America | $9.62B | $11.08B | $13.63B | 3.2% | 27% |
| Europe | $5.20B | $5.90B | $7.17B | 3.0% | 14% |
| Asia Pacific | $14.22B | $16.28B | $19.94B | 3.1% | 39% |
| South America | $1.92B | $2.22B | $2.75B | 3.3% | 5% |
| Middle East and Africa | $5.67B | $6.33B | $7.60B | 2.7% | 15% |
| Total | $36.63B | $41.81B | $51.09B | 3.1% | 100% |
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansTotal Market Size
$51.09B
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Overhung Impeller | $33.74B | 3.0% | 66% |
| Vertically Suspended | $11.33B | 3.1% | 22% |
| Between Bearing | $6.02B | 3.5% | 12% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansSee plans for professionals or small and medium businesses.
Analytical insights on Centrifugal Pump Market covering market dynamics, competitive landscape, and strategic outlook.
The Centrifugal Pump Market market is projected to reach $51.09B by 2030, growing at 3.1% CAGR. The Overhung Impeller segment holds the largest share.
The centrifugal pump is inclined to siphoning liquids containing pollutants, which can lessen the framework's efficiency. Subsequently, keeping up with the functioning boundaries of the siphons is basic to supporting by and large effectiveness and item life. To remotely analyze shortcoming circumstances, a few industry players have really demonstrated refined innovations, for example, network-based observing, the Internet of Things (IoT), and numerous others. For instance, during the overall exchange exhibition ACHEMA Germany, KSB presented their new stage known as "KSB watch" to screen siphon frameworks using network sensors. The imaginative arrangement expects to incorporate temperature and vibration sensors into the siphons to recognize changes in working way of behaving for improved retrofitting and support.
The continuous need to boost pressure and supply water to conduct various operations has propelled centrifugal units in different verticals like food & beverage, marine, metal manufacturing, chemicals, and many others. However, several factors, including viscosity, temperature, specific gravity, pressure, density, and vapor pressure of the working fluid, govern the applicability of these products in different capacities and sizes. The growth of the global centrifugal pumps market is being driven by the rapid construction of residential and commercial infrastructure and the expansion of the manufacturing sector. The growth is attributed to the increased infrastructure investment, which has resulted in fast urbanization. The wastewater treatment sector's demand for these products is expected to drive the industry over the coming years.
The expanding global population and increased water use across different industries are projected to encourage the construction of new water treatment facilities throughout the world, allowing the water and wastewater industry to expand. As a result, demand for centrifugal pumps is projected to increase. Expanding the number of residential and commercial construction projects will boost market growth. These pumps contribute to the resolution of variable or lower pressure issues and provide energy-efficient water transfer solutions and HVAC requirements in buildings. In wastewater treatment plants, centrifugal pumps are commonly employed to process used water. Rotating impellers are used in these pumps to enhance impeller velocity and force fluids through exit valves.
The rising demand for centrifugal pumps is thus predicted by the expanding number of worldwide wastewater treatment plants. In addition, various technical developments, such as the creation of 3D-printed impellers and the use of modelling software, are also contributing to growth. These improvements assist in improving pump performance, lowering manufacturing costs, and delivering a greater flow rate and output pressure. Other factors, such as rising demand for energy-efficient centrifugal pumps and increased expenditures in desalination in industrial facilities, are expected to boost the market even further.
Centrifugal pump is prone to pump different fluids containing several impurities that may hamper the system's productivity. Consequently, maintaining the operating conditions of the pumps plays a crucial role in increasing the overall efficiency and life of products. Various industry participants have successfully demonstrated advanced technologies like network-based monitoring, the Internet of Things (IoT), and many others to remotely diagnose fault conditions. For Example, KSB presented its new platform known as “KSB guard” to monitor pump systems using network sensors at the global trade fair, ACHEMA, held in Germany. The novel breakthrough aims to add temperature and vibration sensors to the pumps to detect changes in operating behaviour for better retrofitting and maintenance.
Cavitation refers to the process of formation of the vapor phase in a liquid when it is subjected to reduced pressures at a constant ambient temperature. Vapor bubbles that are formed within centrifugal pumps owing to inadequate liquid tend to move toward areas of high pressure within them to collapse under sufficient pressure and return to the liquid state. The implosion of these bubbles flakes off small portions of metal from impeller surfaces, resulting in low-frequency vibration and noise, along with extensive damage to centrifugal pumps. This impacts the performance of pumps, resulting in their reduced sales and high replacement costs. Thus, cavitation and dry-run related failures can hinder the growth of the centrifugal pump market.
Regular Priming Requirements along with Formation of Cavitation Conditions May Obstruct Growth these kind of pump operates by rotating the impellers instead of imparting suction power to pump liquid in and out of the systems. Priming is the operation wherein the system is completely submerged in liquid to minimize the air intake that generates weak pull and causes major problems.
Near-term growth will likely concentrate in modular bioreactor lines and closed-system media workflows that shorten validation cycles while preserving batch traceability.
Partnerships between CDMOs and instrumentation vendors should accelerate standard datasets for comparability across sites, improving forecasting models used in capacity planning.
Longer horizon, organoid and microphysiological adoption may reshape segment mix; teams that invest early in assay interoperability and cloud QC hooks are better positioned to capture upside without fragmenting their analytics stack.
Profiles of 105 companies operating in the Centrifugal Pump Market market, including revenue, employee count, and market positioning where available.
Showing 105 of 105 companies
Company Headquarters: United States Founded: 1862 Workforce: ~ 27,043 (Global) Company Working: NOV Inc. (NOV or 'the company'), formerly, National OilWell Varco Inc, is a provider of technology and equipment to the oil and gas industry. The company conducts operations in approximately 552 locations across six continents. It owns and leases 137 engineering, sales and administration facilities, 109 service centers and 306 repair and manufacturing facilities. The company serves national and independent service companies, oil and gas operators and contractors in 61 countries worldwide. NOV operates its business through three reportable business segments: Rig Technologies, Wellbore Technologies, and Completion and Production Solutions. The Rig Technologies segment supports the integrated systems and capital equipment, which are used to drill oil and gas wells on land and offshore. It also designs, manufactures and sells land rigs, offshore drilling equipment packages, such as installation and commissioning services, and drilling rig components which mechanize and automate the drilling process and rig functionality. NOV's rig system segment's equipment and technologies include derricks, substructures, and masts; jacking systems; cranes; rotating, and assembly systems, pipe lifting, racking; fluid transfer technologies, such as mud pumps; power transmission systems, including drives and generators; and rig instrumentation and control systems; pressure control equipment, including blowout preventers. It operates manufacturing facilities in New Iberia, Louisiana; Orange, California; Houston, Texas; Dubai, UAE; and Singapore. As of December 2021, it had order backlog of US$2.8 billion. In FY2021, the Rig Technologies segment reported revenue of US$1,739 million, which accounted for 30.7% of the company’s revenue. NOV's Wellbore Technologies segment designs, manufactures, sells and rents various equipment and technologies used for drilling operations. It also offers services that optimize their performance, including solids control and waste management equipment and services, drill pipe, wired pipe, tubular repair, inspection and coating services, fishing and downhole tools, instrumentation and drill bits. The segment serves oil and gas companies and supports oilfield equipment rental companies, drilling contractors and oilfield service companies. It operates manufacturing facilities in Veracruz, Mexico; Houston, Navasota, Conroe, and Cedar Park, Texas; and Dubai, UAE. In FY2021, the Wellbore Technologies segment reported revenue of US$1,959 million, which accounted for 34.6% of the company’s revenue. The Completion and Production Solutions segment integrates technologies for oil and gas production and well completions. It designs, manufactures, and sells equipment and technologies needed for hydraulic fracture stimulation, including pressure pumping trucks, sanders, blenders, hydration units, flow line, manifolds, and injection units. It also manufactures well intervention products, including coiled tubing, coiled tubing units and wireline units and tools; and onshore production systems, including surface transfer, composite pipe, and progressive cavity pumps, and artificial lift systems. In addition, the company supplies offshore production systems, including floating production systems and subsea production technologies. The segment also supports oil and gas companies and service companies. It operates manufacturing facilities in Tulsa, Oklahoma; Houston, and Fort Worth, Texas; Qingdau, Shandong, China; Aberdeenshire, Scotland, UK; Senai, Malaysia; Kalundborg, Denmark; Manchester, England; and Superporto du Acu, Brazil. As of December 2021, it had order backlog of US$1.3 billion. In FY2021, the Completion and Production Solutions segment reported revenue of US$1,963 million, which accounted for 34.7% of the company’s revenue. Geographically, the company classifies its operations into 11 regions: the US, Norway, Singapore, Saudi Arabia, the UK, China, Brazil, Canada, the UAE, South Korea, and Other Countries. In FY2021, the US accounted for 31.9% of the company’s revenue, followed by Norway (6.6%), Singapore (2.6%), Saudi Arabia (5.7%), the UK (3.7%), China (4%), Brazil (5.7%), Canada (3.7%), the UAE (2.4%), South Korea (0.6%), and Other Countries (33.1%).
Company Headquarters: UK Founded: 1871 Workforce: ~18,000 Company Working: The Weir Group PLC is a global provider of mineral and flow control services in the global market. Its product business segment includes pumps, valves, crushers, wellhead, Linatex rubber, hydrocyclones, screening equipment, and oil & gas safety products. The pump segment includes axial flow pumps, belt tensioning system, centrifugal pumps, chop-flow pumps, high pressure pitot tube pumps, high pressure pumps, horizontal slurry pumps, industrial & chemical pumps, mine dewatering pumps, non-clog pumps, PD pumps, prerotation pumping system, recessed impeller pumps, screw centrifugal pumps, self-priming pumps, submersible pumps, vertical slurry pumps, vertical specialty slurry pumps, and well service pump. Its service segment covers minerals services, oil & gas services, and flow control services. It offers solutions and services for various sectors such as water and waste water, chemical and fertilizers, cryogenic, desalination, food and beverage, petrochemicals, pharmaceuticals, and waste to energy. The major brands for pumps are Begemann, GEHO, Hazleton, Lewis, Multiflo, Roto-Jet, Novatech, SPM, WARMAN, WEMCO, and WSP. Its major markets are the US, Chile, Brazil, Peru, South Africa, Malaysia, China, Australia, the UK, and the Netherlands. It operates from more than 70 countries across the world. The major subsidiaries for the group are KOP Surface Products, ESCO Corporation, and Seaboard Holdings Inc.
Company Headquarters: US Founded: 2011 Workforce: ~16,200 Company Working: Xylem is an American water technology company that offers engineered solutions to meet water, wastewater and energy needs for applications such as building services, commercial, public utility, and industrial purposes. It operates in three business segments, which include water infrastructure, applied water and measurement & control solutions. Water & wastewater pumps and filtration, disinfection & biological treatment are the major products of water infrastructure segment. Pumps, valves, heat exchangers & controls, dispensing equipment systems are some of the major products of applied water segment. Measurement & control solutions segment offers various solutions such as smart meters, networked communication devices, data analytics, test equipment & controls, sensor devices, and software & managed services. The company operates in North America, Europe, and Asia-Pacific.
Baker Hughes is no longer best described as an oilfield services company. It is a two-into-three-segment industrial and energy technology group whose centre of gravity has migrated decisively from wellsite services toward long-cycle rotating equipment, gas infrastructure, power generation and aftermarket services. In FY2025 the Industrial & Energy Technology segment generated $13.4 billion of revenue against Oilfield Services & Equipment's $14.3 billion, and IET's segment EBITDA margin (18.5%) overtook OFSE's (18.3%) for the first time. The July 2026 acquisition of Chart Industries for approximately $13.6 billion added cryogenic process technology, heat transfer and thermal management as a third reporting segment. Record remaining performance obligations of $40.1 billion at 30 June 2026 — of which $37.1 billion sits in IET — give the company revenue visibility that pure oilfield peers cannot match. The equity story is now margin convergence to 20%, deleveraging from Chart, and exposure to LNG, data-centre power and industrial decarbonisation. --- ### The company's own description The Company describes itself in its Form 10-K as "an energy technology company with a diversified portfolio of technologies and services that span the energy and industrial value chain," noting that it is "built on a century of experience and conducting business in over 120 countries" and that "our innovative technologies and services are taking energy forward." In the 2026 proxy the framing has evolved into a trademarked strategic slogan — "Rewriting The Energy Equation™" — which management defines as "the inseparable link between industrial outcomes and the energy systems that power them," arguing that industrial growth is driving structural increases in energy demand alongside rising expectations for cleaner and more efficient energy. At the Barclays conference on 9 September 2026, management characterised the combined platform as "the industry's most integrated molecule-to-electron platform," spanning core capabilities in power generation, grid stability, energy management, energy compression, flow control, thermal management, industrial compression, cryogenic storage, process systems, fuelling and dispensing, drilling and completion systems, production systems, intervention systems, subsea production systems, and digital and lifecycle systems. ### Independent characterisation Baker Hughes is best understood as three businesses stapled together by a common industrial operating system (the "Baker Hughes Business System") and a common customer set: **(a) A cyclical, service-intensive oilfield business (OFSE).** Roughly $14.3 billion of FY2025 revenue, sold mostly as day-rate and per-job services plus consumables and capital equipment to international oil companies, national oil companies and independents. Revenue tracks rig count, well count and upstream capex. Contract durations are short (months to a few years), backlog is thin ($3.0 billion RPO at 30 June 2026), and pricing is competitive. Roughly 26% of OFSE revenue is North American; the balance is international, with Middle East/Asia the single largest region. **(b) A long-cycle equipment and aftermarket business (IET).** Roughly $13.4 billion of FY2025 revenue. This is an original-equipment-manufacturer model: sell a gas turbine, compressor train, generator or liquefaction module into a multi-year project, book it into backlog, recognise revenue over time on percentage-of-completion, then capture 20–30 years of contractual service agreements, spare parts, upgrades and digital monitoring on the installed base. This is the structurally attractive half of the company. IET RPO of $37.1 billion at 30 June 2026 includes $15.0 billion of Gas Technology Equipment and $16.7 billion of Gas Technology Services — the services backlog is larger than the equipment backlog, which is the signature of a mature installed-base annuity. **(c) A cryogenic and thermal process business (Chart, from 16 July 2026).** Chart reported approximately $4.3 billion of revenue for FY2025 as a standalone company. It brings brazed aluminium and air-cooled heat exchangers, cold boxes, nitrogen rejection units, blowers and fans, vaporizers, cryogenic storage tanks, carbon capture equipment, compressors and steam turbines. **Revenue model mix.** Baker Hughes does not disclose a clean product/service/subscription/licensing split. What is disclosed: FY2024 sales of goods were $17,810 million against sales of services of $10,019 million (approximately 64%/36%); FY2023 was $15,617 million goods and $9,889 million services; FY2022 was $12,236 million goods and $8,920 million services. The goods share has risen with the IET equipment cycle. Software and digital (Cordant, iCenter, Leucipa, System 1) is sold on licence, subscription and outcome-based models but is not separately disclosed as a revenue line — flagged as not publicly disclosed. **Value chain position and end markets.** Management's own end-market split of FY2025 combined revenue (including Chart as reported) is approximately 40% energy upstream (extraction of the molecule), approximately 50% energy infrastructure (transporting and transforming the molecule into energy), and approximately 10% industrial (consumption of energy). End markets named in the FY2025 10-K and 2026 presentations include: onshore and offshore oil and gas, LNG, pipelines and gas storage, refining, petrochemicals, distributed gas, nuclear (including small modular reactors), hydrogen, carbon capture utilisation and storage, clean power, geothermal, renewables, data centres, mining, industrial gases, space, pulp and paper, food and beverage, industrial heating, automotive and aerospace. **Customer types.** National oil companies (Aramco, ADNOC, KazMunayGas, KNPC, Kuwait Oil Company, Petroleum Development Oman, ONGC, Petrobras, Ecopetrol, SOCAR, CNPC, Sinopec), international majors (ExxonMobil, Eni, Equinor, BP, TotalEnergies), LNG developers (Venture Global, Cheniere, NextDecade, Commonwealth LNG, Glenfarne, Golar, Nigeria LNG), EPC contractors (Bechtel, Tecnimont/MAIRE, Saipem, Técnicas Reunidas, McDermott), independent power and data-centre developers (Dynamis Power Solutions, Kodiak Gas Services, Aalo Atomics), and industrial process operators (Yara, Braskem, Valero).
Company Headquarters: France Founded: 1962 Workforce: ~ 69 Company Working: SOMEFLU is a pump manufacturer specialized in the engineering and manufacturing of corrosion resistant centrifugal pumps. SOMEFLU pumps are made of thermoplastic and designed in horizontal or vertical version. SOMEFLU pumps are designed for the most difficult industries where corrosion and abrasion resistance are complexes to solve. These pumps are made of engineered plastics such PP, PE, SOMEDUR®, UHMW-PE, PVDF, PFA, PEEK and designed to handle both corrosive or abrasive fluids which could be clear, slightly or heavily particle-loaded fluids. The manufacturing unit is equipped with most advanced CNC machines, generation software (CAD/CAM) and digitally controlled machines making it possible to meet cost, quality and deadline requirements. SOMEFLU offers its clients the most effective and economic solutions.
Company Headquarters: Denmark Founded: 2008 Workforce: ~19,221 Company Working: Grundfos is a leading industrial pump manufacturer based in Denmark. Grundfos specializes in pumps for water treatment. The company offers centrifugal pumps, single-suction pumps, coolant pumps, submersible pumps, metering pumps, and circulation pumps for heating, air conditioning, water supply, industrial, chemical dosing, sterilization, and miscellaneous drainage applications. The company acquired Hilge GmbH, a German pump manufacturer in 2004, Alldos International AG, a Swiss company; in 2005, Tesla, Srl, an Italian company in 2005, PACO Pumps, a North American manufacturer of pumps for HVAC applications, in 2007. It sold Hilge GmbH, a manufacturer of pumps for the food and beverage industry, to GEA, a German company. The company offers pumps for various purposes including heating, air-conditioning, and ventilation. Its product portfolio includes submersible motors, submersible recirculation pumps, heavy duty submersible pumps, piston pumps, ALPHA circulator pumps, DME diaphragm dosing pump, SP submersible groundwater pump and DP drainage pump. It also offers several services such as installation and operation, repair and maintenance, and surveillance and mobility. The company’s products find applications in various industries including commercial buildings, beverage, automotive, bio fuel, pharma, mining, marine, machining industry, washing and cleaning, agriculture and marine. It operates various manufacturing facilities and markets its products through authorized service partners and distributors globally. The company has operations in the Americas, Asia-Pacific, Europe, and Middle East and Africa. Grundfos is headquartered in Bjerringbro, Denmark.
Powering the world's best teams.
From next-gen startups to established enterprises.
Trusted by forward-thinking businesses
for data-driven intelligence
Co-Founder, Mojave Rail Fabrication Limited
This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Sales Leader, Bamberg
We bought your "2025 report" in 2020. Everything is fine and very good.
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Historical performance and future projections (2020–2030, USD Billion)
Market Size (USD Mn)
