Hot Water Circulator Pumps Market Overview 2022
Hot Water Circulator Pumps Market Overview
Energy efficiency is an essential factor in the building design and infrastructure regulations that has provided an impetus to the hot water circulator pump market. Hot water circulator pumps are highly required within the context of growing energy as well as water scarcity. These pumps operate in an ideal manner and are useful in buildings with long water distribution systems. The increase in the construction of multi-story buildings has boosted the growth of the Hot Water Circulator Pumps market. Also, a rise in the construction of commercial establishments such as hotels, office buildings, healthcare facilities, and others is anticipated to intensifies the growth of the market.
The growing adoption of energy-efficient technologies and a fast-paced infrastructural development are propelling the demand for hot water circulator pumps around the globe. This fact escalating the growth of the market. In addition, hot water circulation pumps are used across several industrial sectors. Industrial development is one of the prime factors that increase the growth of the market. Moreover, the rising integration of hot water circulator pumps both for domestic and commercial purposes is pushing the growth of the market as well. Furthermore, the governments in multiple countries have steadily set strict efficiency standards for the environmental design of energy-using products to help reduce energy usage and carbon footprint. Therefore, several energy labeling schemes and a bigger focus on energy conservation have propelled the growth of the Hot Water Circulator Pumps market.
On the downside, the high costs linked with these pumps and the additional maintenance and installation charges may hamper the growth of the market during the forecast period.
Covid-19 Impact on Hot Water Circulator Pumps Market
As around one-third of the global population is staying indoors owing to nationwide lockdown, stay-at-home orders, and restrictions on movement, the energy demand has sharply dipped. By the end of 2020, approximately, a decline in 5% of the energy demand was been recorded. Also, waning in corresponding gas and oil demands of 4% and 9%, respectively were registered in 2020. Currently, the energy market is at a historic low with surplus supplies. However, the situation is expected to ease up with a lift in lockdown restrictions and end-use industries start operating with great efficiencies.
Hot Water Circulator Pumps Market Segment Overview
Based on Type, the Single-Stage Pumps segment holds the largest share of the global Hot Water Circulator Pumps market. The increasing preferences among consumers for a single-stage pump for residential requirements have been one of the greatest factors behind the growth of this segment. As well, the low cost of maintenance compared to multi-stage pumps is another crucial reason boosting the demand for single-stage pumps. By Application, the Industrial segment holds the leading position in the market, and is predicted that this segment further rises at a considerable rate over the forecast period.
Hot Water Circulator Pumps Market, By Type
· Single-Stage Pump
· Multi-Stage Pump
Hot Water Circulator Pumps Market, By Application
· Industrial
· Residential
· Commercial
Hot Water Circulator Pumps Market Regional Overview
In terms of region, Europe is the prominent region for the Hot Water Circulator Pump market. The governments in the region have set strict efficiency standards for energy-related products. Also, green buildings have become a common phenomenon in Europe and builders are mandatory to follow EU pump efficiency regulations to earn green building certification. All these factors contribute significantly to the development of the market in this region. In addition, the UK, France, and Germany are the main contributors to the European hot water circulator pump market. North America is another major region for the hot water circulator pump market. The US is an important place and is a relatively mature market. Continued new building construction activities in the US along with strong demand from the residential sector is boosting the growth of the US market.
Hot Water Circulator Pumps Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Hot Water Circulator Pumps Market, Key Players
· AUMA Riester GmbH & Co. KG
· BacoEngineering.com
· Emile Egger & Cie SA
· Grundfos
· Armstrong Fluid Technology Limited
· Flowserve Corporation
· Taco
· Saer Elettropompe SpA
· Calpeda S.p.An
· Xylem Inc
