Circulator Pumps Market is to reach USD 24.4 Bn by 2029 at a growth rate of 3.4 percent over the forecast period

Pune, May 29, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research, a global Energy & Power market research firm, has published a competitive intelligence and market research report on the " Circulator Pumps Market ". The Circulator Pumps Market size was valued at USD 19.1 Bn in 2022. The total Circulator Pumps Market revenue is expected to grow at a CAGR of 3.4 percent from 2022 to 2029, reaching USD 24.4 Bn during the forecast period.

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Circulator Pumps Market Scope and Research Methodology

The report includes a detailed analysis of the Circulator Pumps Market. The competitive analysis in the report includes a company overview, financial performance, product portfolio, and strategies of the key players in the Circulator Pumps industry. Key insights provided in the report are the major drivers of the Circulator Pumps Market, the challenges faced by the market participants, and growth prospects in the Circulator Pumps Market across the world. The Circulator Pumps Market report covers a detailed analysis of the investments of market players to increase their global presence in the industry, which makes it an investor's guide.

The segments covered in the report are Product Type, Application, No. Of Stages, Power Consumption, Distribution Channel, and Rotor Type. Primary and Secondary research methods were used to collect data for the Circulator Pumps market report. Primary research was conducted to validate the findings from the secondary research method. The Circulator Pumps size was estimated by using a bottom-up approach.

Circulator Pumps Market Overview

A circulator pump is a specific type of pump used to circulate gases or slurries in a closed circuit. Circulator pumps are found in circulating water in a hydronic heating and cooling system. These pumps are mostly used in hydronic systems for electrically powered centrifugal pumps. Use of circulator pumps for domestic hot water is expected to boost the Circulator pumps market growth. Technological advancements within the industry reduce energy waste when occupants are likely to use hot water.

Increasing demand for energy-efficient heating and cooling systems solutions to boost the Circulator Pumps market growth

The demand for circulator pumps has increased in residential and commercial heating and cooling systems. These pumps are mostly used in homes, commercial buildings, and industrial facilities, which is expected to boost the Circulator Pumps market growth. Demand for energy efficient heating and cooling systems is increasing day by day. Rising energy costs, stricter government regulations and awareness about environmental sustainability is expected to influence the Circulator pumps market growth. Wide range of circulator pumps to different applications and customer requirements significantly contribute to the growth of the market. Development of advanced technologies and materials by manufacturers to manufacture more efficient pumps is expected to boost the market growth.

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High cost of Circulator Pumps is expected to restrain the market growth.

Asia Pacific region to dominate the Circulator Pumps market growth

The growing trend of connected homes and buildings in Asia Pacific is expected to boost the regional Circulator Pumps market growth. Pump manufacturers in the region are focusing on sustainability in production. Increasing construction activities and rising demand for energy-efficient solutions is expected to boost the regional Circulator pump market growth in the region. Mergers and acquisitions, particularly in emerging markets, are contributing to the market growth in the region. Eco-friendly materials and processes, reducing waste, and improving the energy efficiency of the pump is expected to influence the market growth.

Circulator Pumps Market Segmentation

By Product Type

Based on Product type, the market is segmented into Vertical circulator pumps and Horizontal circulator pumps. Vertical circulator pumps segment dominated the market in 2022 and is expected to continue the dominance over the forecast period. These pumps are designed to be installed vertically in a hydronic heating or cooling system with high pressure, as they are more efficient at moving fluids in a vertical direction.

By Application

Based on Application , the market is segmented into Residential, Commercial, and Industrial segment. Residential segment is expected to dominate the market over the forecast period. They are used for heating and cooling systems in houses, apartments, and other residential buildings, which is expected to boost the segment growth in the market.

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By No. Of Stages

By Power Consumption

By Distribution Channel

By Rotor Type

Circulator Pumps market key players include

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Key questions answered in the Circulator Pumps Market are:

Key Offerings:

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