Radial Flow Pump Market Size, Share & Trends Analysis Report By Configuration (Single-stage, Multi-stage), By End-use (Agriculture, Power Generation), By Region, And Segment Forecasts, 2023 - 2030

Radial Flow Pump Market Size & Trends

The global radial flow pump market size was estimated at USD 24.4 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 3.6% from 2023 to 2030. The driving factors for the market growth are attributable to the pump's efficiency, versatility, and suitability for a wide range of applications. As industries continue to grow and evolve, the demand for reliable and efficient fluid handling solutions, such as radial flow pumps, remains strong. Government laws that are strict on energy efficiency, safety, and standards are anticipated to have a significant impact on the market. Many government agencies have not only restructured their existing structures but also their current policies. While many established nations have already made investments in the water treatment business, developing nations in Asia Pacific and North America are anticipated to encourage and boost investments in the sector in the years to come.

The U.S. accounted for the largest market share of the total industrial pump market in North America in 2022. According to the CDC 2023 report, CDC calculated the costs incurred by waterborne diseases on the American healthcare system were approximately USD 3.3 billion. Such a high figure highlights the increasing demand for water treatment systems to be installed in hospitals. This has created a need for effective radial flow pumps as these pumps play a crucial role in water treatment processes, including pumping and circulating water in treatment plants, managing sludge, and handling various stages of the treatment cycle. Moreover, increased R&D in ultrafiltration and microfiltration is expected to open new markets for wastewater and water treatment services in the U.S. over the forecast period, thereby fueling the radial flow pumps adoption.

Energy-efficient pumping solutions have gained importance as industries strive to reduce operational costs and environmental impact. Radial flow pump manufacturers have been focusing on developing energy-efficient designs and technologies, such as variable frequency drives (VFDs) and advanced control systems, to optimize pump performance and minimize energy consumption. Radial flow pumps play a role in various infrastructure projects, including construction, urban development, and water supply systems. The U.S. infrastructure plans and projects can impact the demand for fluid-handling equipment like radial flow pumps. These aforementioned factors are anticipated to boost the market growth in the coming years.

Moreover, the U.S. oil and gas industry's demand for fluid handling equipment, including radial flow pumps, has been influenced by fluctuations in energy prices and exploration activities. Radial flow pumps are used for applications such as well stimulation, crude oil transfer, and pipeline operations owing to their ability to handle various fluids. Furthermore, the adoption of Industry 4.0 principles and the integration of automation and digitalization technologies have positively impacted the market.

Configuration Insights

Based on configuration, the single-stage radial flow pump segment held the largest market share of 62.8% in 2022. These pumps have a relatively simple design with fewer components compared to multi-stage pumps. Their cost-effectiveness and ease of maintenance make them attractive for applications where high-pressure differentials are not critical. Owing to the need for cost-effective fluid handling solutions, reliable performance, and ease of integration into existing systems single-stage radial flow pump adoption is significantly high.

Single-stage radial flow pumps are commonly used in municipal water supply systems for distributing clean water to communities and ensuring reliable access to fresh water. These pumps play a crucial role in agricultural irrigation, helping to move water from water sources to fields and crops efficiently. The versatility, simplicity, and moderate pressure handling capabilities of single-stage radial flow pumps make them suitable for a wide range of applications across different industries.

The multi-stage radial flow pump segment is anticipated to witness the fastest CAGR of 4.2% over the forecast period. The demand for multi-stage radial flow pumps is driven by their ability to efficiently handle high-pressure applications across diverse industries. As industrial processes become more demanding and energy-efficient solutions are sought, the multi-stage radial flow pumps segment continues to grow.

The need for reliable water supply and distribution in municipalities, industries, and agricultural operations drives the demand for multi-stage radial flow pumps, which are capable of efficiently transporting water over long distances and varying elevations. Moreover, the demand for clean water and the need to treat saline water sources boost the use of multi-stage radial flow pumps in desalination plants and water treatment facilities.

End-use Insights

In terms of end-use, the agriculture segment held the largest revenue share of 26.3% in 2022 and is likely to continue to dominate the market over the forecast period. Efficient water distribution is essential for crop growth. Radial flow pumps offer the necessary pressure to transport water from sources such as wells, rivers, or reservoirs to fields for irrigation. The ability to ensure consistent and adequate water supply to crops is a key driving factor. The driving factors for the use of radial flow pumps in agriculture include the need for efficient water management, improved crop yields, enhanced irrigation practices, and the optimization of various agricultural processes. As modern agriculture seeks to maximize productivity while conserving resources, radial flow pumps offer a versatile solution for addressing these challenges.

Radial flow pumps are used to remove groundwater from excavations and trenches, preventing flooding and ensuring safe and stable construction sites. The need to maintain dry working conditions, prevent soil erosion, and facilitate safe construction operations drives the use of radial flow pumps for dewatering. In addition, radial flow pumps are utilized for land reclamation projects, dewatering, and preparing reclaimed land for construction and development. As construction projects become more complex and site conditions vary, the demand for radial flow pumps continues to grow, driven by the need for efficient fluid handling and dewatering solutions.

Regional Insights

Asia Pacific led the market with a revenue share of 47.0% in 2022. The growing demand for radial flow pumps in the region is attributed to the tremendous growth of the end-use industries, including domestic water and wastewater, and petroleum. In addition, rapid investments in the manufacturing sector to cater to the demand of a rapidly growing population are expected to fuel the market growth over the forecast period.

North America is expected to expand at a CAGR of 2.0% from 2023 to 2030. The presence of advanced processing capabilities in the U.S., coupled with continuous R&D activities for manufacturing pumps, is expected to drive market growth in the region. Furthermore, rising water scarcity has resulted in innovations that are likely to promote product demand in the region.

Key Companies & Market Share Insights

The industry is extremely competitive due to the presence of both international and local players. Radial flow pump manufacturers use various strategies to increase market penetration and meet the dynamic technological demands of end-use industries, such as agriculture, construction & building services, water & wastewater, power generation, oil & gas, chemicals, and others.

For instance, Flowserve Corporation and Gradiant entered into a collaboration agreement in March 2022 to work together to overcome the problems with wastewater treatment. To provide waste and water treatment solutions, this cooperation merged the flow control solutions and product experience of Flowserve Corporation with the water treatment technology of Gradiant. Radial flow pumps were also adopted. Some prominent players in the global radial flow pump market include:

• NEC Air Compressors

• KSB SE & Co. KGaA

• EGGER

• Siya Pumps

• Litostroj Power Group

• Ganga Pumps

• HIFUNI PUMPS PVT. LTD.

• Ruhrpumpen

• Ladapumps

Radial Flow Pump Market Report Scope 

Global Radial Flow Pump Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global radial flow pump market report based on configuration, end-use, and region:

• Configuration Outlook (Revenue, USD Billion, 2018 - 2030)

  • Single-stage

  • Multi-stage

• End-use Outlook (Revenue, USD Billion, 2018 - 2030)

  • Agriculture

  • Construction & Building Services

  • Water & Wastewater

  • Power Generation

  • Oil & Gas

  • Chemicals

  • Others

• Regional Outlook (Revenue, USD Billion, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • France

    • Germany

    • Italy

    • UK

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • UAE