About Hot Water Circulator Pumps
Hot water circulating pumps comes under the category of circulating pumps. It circulates the hot water to the taps or exhaust systems immediately. Also, it pumps unused hot water back to the heat through the dedicated line. It is used in commercial, industrial and residential sectors. Moreover, its ability to save water is gaining the traction which is expected to positively impact the hot water circulator pump market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 4.6% |
The global market is highly competitive and consists of a limited number of providers competing. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that Europe Manufacturers will contribute the maximum growth to Global Hot Water Circulator Pumps market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Xylem Inc. (United States), Grundfos (Denmark), Flowserve Corporation (United States), Armstrong Fluid Technology Limited (Canada), Calpeda S.p.A (Italy), BacoEngineering.com (United Kingdom), Taco (United States), AUMA Riester GmbH & Co. KG (Germany), Emile Egger & Cie SA (Switzerland) and Saer Elettropompe SpA (Italy) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Hot Water Circulator Pumps market by Type (Single-Stage Pump and Multistage Pumps), Application (Residential, Commercial and Industrial) and Region.
On the basis of geography, the market of Hot Water Circulator Pumps has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Material type, the sub-segment i.e. Cast iron will boost the Hot Water Circulator Pumps market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Costs Associated with the Circulating Pumps and Their Installation May Hamper the Market Growth
Market Growth Drivers:
Growing Scarcity of Water is increasing the Demand of Hot Water Circulator Pumps and Rising Implementation of Regional Codes and Standards
Challenges:
Corrosion in Piping Systems may hamper the Market Growth
Opportunities:
Increasing number of multi storied buildings is creating the opportunity for circulating pumps. There has been increased usage of hot water circulating pumps in commercial and residential sectors. In addition, the continued employment in the industry is expected to fuel the market growth
Market Leaders and their expansionary development strategies
In September 2023, Rinnai launched a hot water heat pump for residential applications. The new heat pump can purportedly provide hot water at a temperature of up to 70 C. It is specifically designed for climatic conditions with temperatures ranging from -10 C to 42 C, as well as coastal locations.
In May 2023, KSB Launches New High-Efficiency Circulation Pumps in CalioTherm S Series. The new CalioTherm S is a maintenance-free, glandless pump designed for pumping drinking water in closed circuits.
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.