Hot Water Circulating Pump Market

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.