HVAC Pump Market to Reach $55.5 Bn, Globally, by 2031 at 5.7% CAGR: Allied Market Research

·6 min read

Increase in use of HVAC systems in manufacturing plants, hospitals, offices, central heating/chiller plants, sports complexes, buildings, schools, and data centers along with rapid industrialization drive the global HVAC pump market.

PORTLAND, Ore., July 4, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "HVAC Pump Market By Product Type (Single stage, Multi-stage), By End-User (Industrial, Residential, Commercial), By Pump Type (Booster pumps, Circulating pumps, Centrifugal pumps): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global HVAC pump industry generated $31.6 billion in 2021, and is expected to generate $55.5 billion by 2031, witnessing a CAGR of 5.7% from 2022 to 2031.

Drivers and Opportunities

Increase in use of HVAC systems in manufacturing plants, hospitals, offices, central heating/chiller plants, sports complexes, buildings, schools, and data centers along with rapid industrialization drive the global HVAC pump market. Moreover, technological advancements and increase in investments in industrial and commercial construction activities such as hospitals and food & beverages factories present new opportunities in the coming years.

Download Sample PDF: https://www.alliedmarketresearch.com/request-sample/9310

Covid-19 Scenario

  • Manufacturing facilities of HVAC pump hindered completely or partially due to lockdown restrictions, shortage of raw materials, and disruptions in supply chain. This impacted the revenue of the market.

  • In addition, the demand from residential, commercial, and industrial end users declined considerably due to stoppage of daily operations in these sectors. Sports events were banned during the pandemic. This declined the demand from sports complexes as well.

  • New construction projects were postponed due to economic uncertainty. This, in turn, affected the demand. However, the demand is expected to rise steadily post-pandemic.

The multi-stage segment to maintain its leadership status during the forecast period

Based on product type, the multi-stage segment accounted for the highest market share in 2021, contributing to nearly three-fifths of the global HVAC pump market, and is expected to maintain its leadership status during the forecast period. Moreover, this segment is expected to witness the highest CAGR of 6.3% from 2022 to 2031. This is due to increase in utilization in general industrial services such as oil and gas, pulp and paper, power generation, food and beverage, chemicals and petrochemicals, pharmaceuticals, and others. The report also analyzes the single stage segment.

Get detailed COVID-19 impact analysis on the HVAC Pump Market: https://www.alliedmarketresearch.com/request-for-customization/9310

The commercial segment to maintain its lead position during the forecast period

Based on end user, the commercial segment held the highest market share in 2021, accounting for more than one-third of the global HVAC pump market, and is expected to maintain its lead position during the forecast period. Moreover, this segment is projected to manifest the fastest CAGR of 6.6% from 2022 to 2031. This is attributed to utilization in schools, banks, shopping malls, and hotels along with radiant flooring systems that heat a building with hot air (forced air) or heated fluid. The research also analyzes the segment including industrial and residential.

Asia-Pacific to maintain its dominance in terms of revenue by 2031

Based on region, Asia-Pacific contributed to the highest market share in terms of revenue in 2021, accounting for nearly half of the global HVAC pump market, and is expected to maintain its dominance in terms of revenue by 2031. Moreover, this segment is projected to manifest the fastest CAGR of 6.4% during the forecast period. This is owing to the presence of high population base and increased the use for HVAC controls in residential, commercial, and industrial buildings in the region. The research also analyzes regions including North America, Europe, and LAMEA.

Leading Market Players

  • Bard Manufacturing Company Inc.

  • KSB SE & Co

  • Kirloskar Brothers Limited

  • AURORA GmbH & Co. KG

  • Armstrong Air

  • WILO SE CNP Pumps India Pvt. Ltd

  • Torishima Pump Mfg. Co., Ltd.

  • Patterson Pump Company

  • C.R.I. Pumps Private Limited

  • Pentair Plc.

Interested in Procure Data? Visit: https://www.alliedmarketresearch.com/purchase-enquiry/9310

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenueTrial


Similar Reports We Have:

Hydraulic Pump Market - Global hydraulic pump market is projected to reach $13,919.0 million by 2030, registering a CAGR of 3.6% from 2021 to 2030.

HVAC Equipment Market - Global HVAC equipment market is projected to reach $290.8 billion by 2030, registering a CAGR of 5.3% from 2021 to 2030.

HVAC Filters Market - Global HVAC filters market growing at a CAGR of 7.7% from 2021 to 2028.

Industrial Pumps Market - Global industrial pumps market size is expected to reach $86,346.0 million in 2030, growing at a CAGR of 4.3% from 2021 to 2030.

Variable Displacement Pumps Market - Variable Displacement Pumps is projected to reach $4,478 million in 2023, growing at a CAGR of 4.4%.

Pre-Book Now with 10% Discount:

Coolant Pumps Market - Global Opportunity Analysis and Industry Forecast, 2020 –2027

Vacuum Pumps Market -  Global Opportunity Analysis and Industry Forecast, 2022-2029

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us: 
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): +1-800-792-5285,
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on | Facebook | Twitter | LinkedIn

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

Cision
Cision

View original content:https://www.prnewswire.com/news-releases/hvac-pump-market-to-reach-55-5-bn-globally-by-2031-at-5-7-cagr-allied-market-research-301580106.html

SOURCE Allied Market Research