HVAC Pump Market Research, 2031
The global HVAC pump market size was valued at $31.6 billion in 2021, and is projected to reach $55.5 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031.
HVAC pumps, also known as air conditioner pumps, are used to keep the distribution system flowing at proper rate. The HVAC pump industry is experiencing substantial expansion due to rise in demand for HVAC systems. Furthermore, surge in demand for heating and cooling devices as well as importance of pump in HVAC systems for moving water and other fluids through fittings, equipment and piping. As a result, all such factors propel the HVAC pump industry growth.
Surge in use of HVAC systems in manufacturing plants, offices, hospitals, sports complexes, central heating/chiller plants, schools, buildings, and data centers is driving demand for HVAC pump market, which is propelling the market growth. Moreover, rapid industrialization and rise in concern about efficient air conditioning systems are expected to propel the growth of the market.
In addition, the utilization of HVAC equipment has increased due to factors such as technology advancements and climatic changes. The need for air conditioning equipment has increased as a result of global warming, which has resulted in shifting and unpredictable weather conditions. Furthermore, companies are implementing strategic moves to boost the production of pumps for HVAC systems. For instance, in February 2020, Honeywell announced one of the first self-driving building sustainability solutions, which offer higher efficiency for HVAC systems. Moreover, rise in investment in industrial and commercial construction such as hospitals and food & beverages factories are creating demand for HVAC systems and its equipment such as HVAC pumps. For instance, in March 2021, the Government of Canada agreed to invest $48.1 million for construction of new Grey Bruce Health Services Hospital. Hence, such construction will require energy-efficient HVAC systems, thus driving the HVAC pump market growth.
By Pump Type
Centrifugal pumps segment has registered highest revenue in 2021
By pump type, the centrifugal pump market registered highest revenue in 2021, owing to its simple design, high efficiency, and its smooth flow. Furthermore, centrifugal pumps have low operating and maintenance cost and are available in wide range of head and capacity.
On the basis of region, Asia-Pacific was the largest revenue generator in 2021, owing to increase in use of air conditioners and heat removers. Furthermore, governments in China, India, and Japan are focusing on the development of smart HVAC systems, which is increasing the demand for HVAC pump. Moreover, increase in end user awareness of indoor air quality is projected to propel the HVAC pump market in Asia-Pacific.
The novel coronavirus (COVID-19) has rapidly spread across various countries and regions in 2019, causing an enormous impact on lives of people and the overall community. It began as a human health condition and has now become a significant threat to global trade, economy, and finance. The COVID-19 pandemic halted production of many products in the HVAC pump market, owing to lockdown. Furthermore, the number of COVID-19 cases is expected to reduce in the future with the introduction of the vaccine for COVID-19 in the market. This has led to the reopening of HVAC pump companies at their full-scale capacities. This is expected to help the market recover by the mid of 2022. After COVID-19 infection cases begin to decline, equipment & machinery producers must focus on protecting their staff, operations, and supply networks to respond to urgent emergencies and establish new methods of working.
The global HVAC market is segmented into pump type, product type, end user, and region. On the basis of pump type, the market is segregated into booster pumps, circulating pumps, and centrifugal pumps. Depending on product type, it is divided into multi-stage and single stage. By end user, it is segregated into industrial, residential, and commercial. Region wise, the global market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competition Analysis
The key players that operating in the HVAC pump market are Armstrong Air, Aurora Konrad G. Schulz GMBH & CO.KG, Bard Manufacturing Company Inc., CNP Pump India Pvt. Ltd., CRI Pump Private Ltd., Kirloskar Brother Ltd., KSB SE & CO., Pentair Plc., Torishima Pumps MFG CO. Ltd., and WILO SE
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging HVAC pump market trends and dynamics.
- In-depth HVAC pump market analysis is conducted by constructing market estimations for key market segments between 2022 and 2031.
- Extensive analysis of the HVAC pump market share is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing HVAC pump market opportunity.
- The HVAC pump market forecast from 2022 to 2031 is included in the report.
- The key players with in HVAC Pump Market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the HVAC Pump industry.
HVAC Pump Market Report Highlights
| Aspects | Details |
 By Product Type |
|
 By End-User |
|
 By Pump Type |
|
 By Region |
|
 Key Market Players | Kirloskar Brothers Limited, WILO SE CNP Pumps India Pvt. Ltd, Armstrong Air, Bard Manufacturing Company Inc., C.R.I. Pumps Private Limited, AURORA GmbH & Co. KG, Pentair Plc., KSB SE & Co, Patterson Pump Company, Torishima Pump Mfg. Co., Ltd. |
Analyst Review
The HVAC pump is used to regulate the temperature of the room and building environment. The HVAC pump market has observed huge demand in North America, Asia-Pacific, and Europe. Asia-Pacific registered highest revenue growth in 2021, owing to increase in demand for HVAC pumps from various sectors. The HVAC pump industry in Asia-Pacific is dominated by brand extension and transformation trends. Manufacturing companies, office buildings, residentials apartment, hospitals, airports, and sports centers use HVAC systems and pumps. As a result, spending on HVAC pumps R&D and manufacturing has increased dramatically in the recent years. In addition, the main market players have increased their manufacturing facilities to meet end-user demand for centrifugal, circular, and boosting pumps. They hope to provide low-cost pumps, which will allow them to extend their product line globally. Grundfos, for example, offers low-maintenance circulator pumps that save energy usage by 80% while operating quietly. Such factors are boosting the growth of the HVAC pump market.
Various market players have adopted strategies such as product launch, business expansion, acquisition, and agreement to expand their business and strengthen their market position. For instance, in July 2020, Daikin introduced SmartSource outdoor heat pump technology for cooling and heating applications. It offers 49% higher efficiency and cost-effective heating and cooling.
The HVAC Pump market size was valued at $31,560.0 million in 2021.
The HVAC Pump market is projected to reach $55,457.0 million by 2031.
Asia-Pacific is the largest regional market for HVAC Pump Market.
Adoption of VAC systems in various applications and importance of HVAC pumps in heating and cooling devices are the key trends in the HVAC pumps market.
The company profile has been selected on factors such as geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
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