Centrifugal Pump Market Is Growing with Growing Urbanization and Industrialization
Centrifugal pumps are widely used for pumping water, bases, acids, oils, organics, solvents, or any thin liquids in domestic, agricultural, and industrial applications. These pumps are used to transfer/transport oil from different types of end-use industries, such as oil & gas, chemicals, power, water and wastewater treatment, food & beverages, and pharmaceuticals, among others. Growth of the centrifugal pump market is mainly driven by the increasing demand for water and wastewater management in both developed and developing countries. According to the United Nations, with the existing climate change scenario, almost half the world's population will be living in areas of high water stress by 2030. Therefore, water and wastewater treatment infrastructure is expected to develop significantly in the coming years, worldwide. This, in turn, is expected to increase the demand for centrifugal pumps, driving the centrifugal pump market . Water use has been growing at more than t...