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Cooling Pump Market Trends

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

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Cooling Pump Market Trends

Increasing emphasis on energy efficiency and sustainability has driven the development of cooling pumps that reduce energy consumption and environmental impact. Manufacturers are focusing on eco-friendly refrigerants, advanced thermal management technologies, and energy-efficient designs to meet regulatory requirements and customer demands. Integration of smart technologies, such as IoT (Internet of Things) and sensors, into cooling pump systems for remote monitoring, predictive maintenance, and data-driven optimization. Smart cooling solutions enhance system performance, reduce downtime, and contribute to overall energy savings by enabling real-time monitoring and control.

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.