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Cooling Pump Market Analysis

Report ID: GMI7644
Published Date: Dec 2023
Report Format: PDF

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Cooling Pump Market Analysis

Cooling Pump Market Size, By Pump Type, 2021 - 2032 (USD Billion)

Based on product type, the market is divided into Centrifugal Cooling Pumps, Reciprocating Cooling Pumps, Axial Flow Cooling Pump, Others. Centrifugal Cooling Pumps held the dominant market share of USD 800 million in 2022. Centrifugal cooling pumps are widely used in industrial applications for their ability to handle high flow rates and provide effective cooling in processes such as manufacturing and power generation. Centrifugal pumps play a key role in large-scale HVAC systems for commercial buildings and industrial facilities, contributing to efficient heat exchange. Reciprocating cooling pumps find applications in process industries, including chemical and petrochemical, where precise and controlled fluid handling is essential for cooling processes.

Cooling Pump Market Revenue Share (%), By Category, 2023

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Based on flow rate, the cooling pump market is categorized into single stage, multistage. Multistage accounted for over 65% business share in 2022 and is projected to grow through 2032. Multistage pumps are preferred for industrial cooling processes where high-pressure requirements are essential for effective heat exchange. Multistage pumps are employed in HVAC systems for large commercial and industrial buildings where high-pressure circulation is needed for effective temperature control. Multistage pumps are used in cooling applications within chemical and petrochemical processes that require precise pressure control.

U.S. Cooling Pumps Market Size, 2021 - 2032 (USD Billion)

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North America dominated the Cooling Pump market in 2022. Within North America, the U.S. generated a revenue of over USD 400 million in 2023. Growth in commercial and residential construction projects drives demand for cooling pumps used in HVAC systems for climate control in buildings. The increasing demand for data storage and processing leads to the construction of data centers, where cooling pumps are crucial for temperature regulation in server rooms. Various manufacturing industries, including automotive, metalworking, and electronics, contribute to the demand for cooling pumps for process cooling applications.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

Cooling pump industry was valued at USD 2.2 billion in 2023 and is anticipated to register a CAGR of over 6.1% between 2024 and 2032, driven by the increasing usage of HVAC (Heating, Ventilation, and Air Conditioning) systems in commercial buildings, including offices, malls, and residential complexes.

The multistage segment accounted for over 65% business share in 2022 and is projected to grow through 2032 fuelled by their usage in HVAC systems for large commercial and industrial buildings.

The U.S. cooling pump industry generated a revenue of over USD 400 million in 2023 and is expected to grow at a lucrative pace through 2032 driven by the rise in commercial and residential construction projects.

Grundfos Group, Xylem Inc., Sulzer Ltd. are some of the major industry contenders.