Vertical: EnPBase Year: 201610 Sections
Market Size (2016)
$19.01B
Projected (2023)
$23.40B
CAGR (2015–2023)
2.9%
Key Players
10+
Hot water circulating pumps are basically a category of circulating pumps that ensure immediate availability of hot water from the taps, faucets, or exhaust systems. These pumps impel hot water through the pipes, at a steady pace, and back to the water heater through a dedicated line or through a cold water line. The hot water circulating pumps market is mainly gaining traction across the globe due to their ability to save water. Rapidly growing use in commercial and residential applications and the continued employment in industries are expected to positively impact the hot water circulating system market.
The hot water circulator market is expected to witness moderate growth in the future owing to increased demand for hot water for smooth operations in various end-use industries. For instance, food and beverage industry and coke steel industry require continuous supply of hot water for fulfilling the operations of the factory. Moreover, the economic wealth of many countries has grown in the recent years, enhancing the lifestyle and raising demand for hot water. These factors add to the growth of hot water circulators pumps market.
The global market for hot water circulator pumps is anticipated to progress at 3.20% CAGR during the forecast period and is expected to touch the market size of USD 23,397.6 million by 2023. Europe accounts for the largest market share of 36.20% and is very closely followed by North America with 33.02% and Asia-Pacific with 21.46%.
The global market for hot water circulators pumps is segmented on the basis of type, pump design, end user, and region. On the basis of type, the market is further classified into multi-stage and single stage. On the basis of pump-design, the market is segmented into close-coupled, flex-coupled, and in-line. On the basis of end user, the segments taken into account are commercial, residential and industrial.
MARKET SYNOPSIS Market Size • 2017: USD 19,474.9Million • 2023: USD 23,397.6Million
CAGR
• 3.20% Key Geographies • Europe:36.20% • North America: 43.02% • Asia-Pacific: 21.46%
Key Leading Countries
• U.S.
• China
• Germany Key Market Drivers • Rising need to conserve water and energy • Increasing demand for instant hot water in cold-weather countries
Key Vendors
• Xylem Inc
• Grundfos
• Flowserve Corporation
• Armstrong Fluid Technology
• Calpeda S.p.A.
The Hot Water Circulating Pump Market market is projected to grow at a CAGR of 2.9% from 2015 to 2023.
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View Subscription PlansA circulator pump is an industrial equipment that aids to circulate the hot water within a building. The conventional water heating solutions are not energy efficient and also creates huge losses of water, as during the supply of hot water, the temperature drops significantly even if the consumption is low or missing. The circulator pumps are capable to work in synergy with the recirculation pumps, thus maintaining the temperature of water in the reservoir.
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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
2016
Historical Period
2015 – 2015
Forecast Period
2017 – 2023
Primary Interviews
150+
Historical data (2015–2016) and forecast period (2016–2023)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansIn competitive landscape, the report covers growth strategies adopted by the companies between 2015 and 2018. The companies adopt various strategies to achieve leading market positions in hot water circulator pumps market, or to retain and/or expand their market share. The key strategies followed by most companies within the global expansions market were followed by the merger and acquisition.
The growth of the market vendors depends on the market conditions, government support, and industrial development. Thus, the vendors should focus on expanding geographically and improving the services. Xylem, Inc. (US), Grundfos (Denmark), Flowserve Corporation (US), Armstrong Fluid Technology Limited (Canada), Calpeda S.p.A. (Italy), and NIBE Industrier AB (US) are the major companies in the market, which compete in terms of availability, quality, and price. They primarily focus on the development of sophisticated hot water circulator pumps.
The vendors with better technical and financial resources can develop innovative products that render the competitors' products, obsolete and non-competitive even before they are launched, or costs are recovered. Therefore, vendors have to develop new technologies and keep up with the emerging technologies that could affect the continuing competitiveness of their market. The competitive environment in the market is likely to intensify further due to increase in product/service extensions, scope in emerging economies, and mergers and acquisitions.
The other key players of global hot water circulator pumps market are BACOENG (China), Emile Egger & Cie SA (Switzerland), Saer Elettropompe SpA (Italy), and Taco (US).
The intensity of rivalry, in hot water circulator pumps market, is growing due to the growing demand for pumps. Additionally, the large number of manufacturers has led to a highly competitive pricing of the product. The growing adoption of hot water circulator pumps in developing countries is driving the growth of the market. This has led to the intensity of rivalry to range between moderate and high.
Market estimates by geography (2023)
InsightEurope leads with $8.58B by 2023, while Asia Pacific is projected to grow fastest at a 3.2% CAGR.
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View Subscription Plans| REGION | 2015 | 2016 | 2023 | CAGR | SHARE |
|---|---|---|---|---|---|
| Asia Pacific | $3.97B | $4.44B | $5.10B | 3.2% | 22% |
| Europe | $6.69B | $7.47B | $8.58B | 3.1% | 37% |
| Rest of the World | $1.75B | $1.90B | $2.12B | 2.4% | 9% |
| North America | $6.17B | $6.75B | $7.60B | 2.6% | 32% |
| Total | $18.57B | $20.56B | $23.40B | 2.9% | 100% |
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View Subscription PlansTotal Market Size
$23.40B
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Multistage pump | $13.20B | 3.0% | 56% |
| Single-stage pump | $10.20B | 2.9% | 44% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on Hot Water Circulating Pump Market covering market dynamics, competitive landscape, and strategic outlook.
The Hot Water Circulating Pump Market market is projected to reach $23.40B by 2023, growing at 2.9% CAGR. The Multistage pump segment holds the largest share.
The global hot water circulator pumps market is estimated to grow at a substantial rate during the forecast period with the changing demands from end users. The number of manufacturers is growing worldwide and so is their need for instant hot water, which is a major reason for the growth of the global hot water circulator pumps market. There are a number of small-scale manufacturers in the market but larger companies tend to aquire them to reduce competition. However, new entrants in the market with innovative technologies can have a deep impact on market growth. There are many manufacturing companies in the market and competition is high, with companies dependant on technology and marketing strategies for growth.
The global hot water circulator pump industry has been evolving very fast over the past few years in the residential, commercial, and industrial sectors. There has been substantial growth in the global solar heater market which has directly led to an increase in the demand for hot water circulator pumps. Many Countries such as Russia, Greenland, Iceland, Canada, and Finland receive limited amounts of solar radiation, which restricts the amount of water heated in solar heaters. When the end user shuts the hot water outlet, the remaining hot water in the pipe is sent back to the heater by a circulator pump. A large amount of energy is conserved in the process as the water does not require reheating.
Hot water circulator pumps instantly send hot water to the outlet, which is very convenient. In plumbing systems that do include hot water circulator pumps, it takes a long time for the hot water to reach the outlet. In the process, most of the cold water exiting the outlet is sent down the drain, which is a major concern for all end users. Globally, freshwater reserves are running low and deliberately wasting water is not acceptable to most users. Moreover, in several countries, water is a scarce commodity and end users need to purchase tankers of water. These end users are extremely cautious while using water and tend not to waste it. This is a major factor driving the growth of the global hot water circulator pumps market.
The use of thermostats further reduces the energy consumed to circulate and heated water as they constantly monitor and maintain water temperature. Timers help limit energy consumption.
These factors are expected to drive the growth of the global hot water circulator pumps market during the forecast period.
The population growth and increase in disposable income in emerging economies such as China, South Korea, and India have led to the rising residential and commercial construction. According to the Global Construction Perspective and Oxford Economics, the global construction market is expected to reach USD 8 trillion by 2030, driven by rapidly developing nations such as China and India along with industrialized nations such as the US and Germany.
Most modern commercial and residential spaces are built with a focus on energy savings to meet global standards. Apartment complexes and hotels use solar heaters to supply hot water and the use of circulator pumps can help increase reduce energy costs and increase the efficiency of buildings. The Indian government introduced the Energy Conservation Building Code for commercial buildings in 2017; the code provides a standard performance requirement for all systems and sub-systems and a standard building-level performance compliance. Therefore, rampant construction in emerging economies offers lucrative opportunities to players in the hot water circulator pumps market.
Hot water circulator pumps are moderately priced at an average of about USD 535 for residential installations and USD 2758 for three-phase pumps. However, the need for fittings increases the overall cost of installation. Additional flow systems must be installed to return hot water to the heater. The cost increases in large-scale industrial and commercial applications. These applications require the system to be operational 24 hours a day, resulting in a significant addition to the utility bill, depending on the size of the pump used.
The costs involved in procuring, installing, and operating hot water circulator pumps on daily basis is a major factor restraining market growth. The initial costs involve purchasing, plumbing, pipes and electrical fittings, and installation.
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Profiles of 106 companies operating in the Hot Water Circulating Pump Market market, including revenue, employee count, and market positioning where available.
Showing 106 of 106 companies
Company Headquarters: Irving, Texas, US Founded: 1790 Workforce: Approximately 15,000 Company Working: NIBE offers solutions for indoor climate control for both, residential and commercial users. It is one of the important sustainable energy solution providers. It provides domestic heating products, including hot water pumps for residential and instant hot water without wastage. It is well-established in the markets of Nordic countries and Northern Europe. NIBE has a worldwide presence and contributes to a smaller carbon footprint and better utilization of energy. It offers a wide range of eco-friendly, energy-efficient solutions for indoor climate comfort in all types of infrastructure.
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.
Company Headquarters: Bjerringbro, Denmark Founded: 1945 Workforce: Approximately 18,000 Company Working: Grundfos is a pump manufacturer, based in Denmark. It is majorly into the manufacturing of pump units, circulator pumps (UP), submersible pumps (SP), and centrifugal pumps (CR). Grundfos also manufactures electric motors for pumps and electric motors for separate merchandising. The firm supplies a broad range of pump systems and solutions to sustain the industrial utilities that support industrial processes. Moreover, the company ensures system integration for the pump, variable frequency drives and controls, pump control and monitoring are combined into supporting systems. Through partnership with 83 companies Grundfos operates in 56 countries. The firm has established a strong supply chain management to offer products and services worldwide in less time span. It has its sales office in Africa, the Americas, Asia, and Europe.
Company Headquarters: Rhode Island, US Founded: 1920 Workforce: Approximately 400 Company Working: Taco Inc. is a third generation, family-owned company also known as Taco Comfort Solutions. It develops and manufactures products and systems for both, residential and commercial applications. These include circulators/pumps, valves and controls, air-dirt separators, heat exchangers, buffer and expansion tanks, domestic hot water recirculation and accessory products, and sophisticated building management controls. It has nearly 100 years of experience in the HVAC industry. Its engineering expertise is passed through its expansive factory training and online learning programs.
Company Headquarters: Guastalla, Reggio Emilia, Italy Founded: 1951 Workforce: More Than 200 Company Working: Saer Elettropompe S.p.A. is among the key manufacturers and suppliers of surface and submersible pumps and motors. Its internal design and R&D department allows it to offer new customizable products with flexibility and innovation based on specific requirements of its customers within short periods. It also provides products and solutions in different materials to meet different environmental and design needs of customers in a wide range of applications. Its centrifugal electrical pumps and submersible and surface motors have a wide range of applications. The firm manufacturers various types of pumps that are utilized in sectors such as civil, industrial, agriculture and irrigation, underground extraction, mining, oil and gas, and water treatment.
Company Headquarters: Cressier, Switzerland Workforce: Approximately 400 Founded: 1947 Company Working: Emile Egger & Cie SA is a medium-sized, privately owned industrial enterprise. It focuses on the development and production of high quality, customized solids handling centrifugal pumps and iris diaphragm valves across a wide range of industries such as sewage, chemical, petrochemical, steel, textile, and others. Previously, the company was specialized in the pumping of fluids laden with solids and gases. It has its subsidiaries in European countries, Asia-Pacific and North America and a strong sales and distribution network.
10 interactive charts drawn from the Hot Water Circulating Pump Market dataset — market size, regional splits and each segment breakdown. Open one to read its full data table and download it.
Global Hot Water Circulating Pump Market United States and Canada Of North America By Country
Global Hot Water Circulating Pump Market Latin-America, Middle-East and Africa Of Rest Of The World
Global Hot Water Circulating Pump Market Germany, Spain, France, United Kingdom and Rest Of Europe By Country
Global Hot Water Circulating Pump Market China, India, Japan and Rest Of Asia Pacific By Country
Global Hot Water Circulating Pump Market By Region
Hot Water Circulating Pump Market North America By Country
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Historical performance and future projections (2020–2030, USD Billion)
Market Size (USD Mn)
