HVAC Pump Market size, share, Growth & Forecast

 

The HVAC Pump Market is estimated to grow at a significant CAGR during the forecast period (2021-2027).

The factors driving growth of the HVAC Pump Market includes rise in the installation of HVAC systems in offices, sports complex, hospitals and manufacturing plants, growing demand for heating, and cooling devices, increasing concerns related to carbon emissions and climate change, rising population growth rates and improvements in the living standards. The circulating pumps minimizes downtime, enhances operations, easy to install, and can be monitored to increase the comfort of users, are some of the features pushing the HVAC Pump Market size. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI) and Internet of Things (IoT), rising focus of manufactures for developing energy efficient pumps, increase in the launch of new products and rapid urbanization, are some of the additional factors supplementing the HVAC Pump Market share. In addition, the increasing investments by major companies on research and development, strategic mergers and collaborations between organizations and growing disposable incomes, are further contributing towards the market growth. 

However, high initial investment required for developing energy efficient pumps, is restricting the market growth.

The major players operating in the market are Ebara Corporation, Johnson Controls, Liberty Pumps, Armstrong Fluid Technology, C.R.I. Pumps Private Limited, Bard HVAC, Wilo SE, KSB SE & Co. KGaA, Grundfos, and Nickerson Company, Inc, among others.

Based on Type, the Booster Pumps segment is predicted to grow at a robust CAGR during the forecast period

Rising focus of manufacturers on developing compact booster systems, which can fit in tight spaces in water treatment and sanitization applications, is pushing segment’s growth.

Based on Application, the Residential segment is projected to grow at a faster CAGR over the forecast period

HVAC pumps are increasingly installed in houses, small stores, and small restaurants owing to its const-effective features is propelling segment’s growth.

Based on Region, the North American region is expected to expand at a remarkable CAGR during the forecast period

Rising focus of manufacturers on developing cost-effect HVAC pumps, increasing concerns related to global warming and climate change, growing awareness about the benefits offered by HVAC pumps and high income of consumer, are driving the market growth in North America.

 

Key Development

• In 2020, Wilo SE introduced new add-on product, Wilo-Connect-Module Yonos MAXO, which provides additional features to Wilo Yonos MAXO pump range. This add-on product offers greater energy saving capabilities to Wilo Yonos MAXO pumps.

 

Market Segmentation

Segmentation by Type

• Booster Pumps
• Centrifugal Pumps
• Circulating Pumps

Segmentation by Application

• Industrial
• Residential
• Commercial

Segmentation by Region

• Asia Pacific
  • China
  • Japan
  • India
  • Rest of APAC
• North America
  • United States of America
  • Canada
• Europe
  • United Kingdom
  • Germany
  • France
  • Spain
  • Rest of Europe
• RoW
  • Brazil
  • South Africa
  • Saudi Arabia
  • UAE

 

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com