HVAC Pump Market will foresee exponential growth during 2021 to 2027 owing to the rising need to optimize energy in residential & commercial infrastructures by Heating, Ventilating, and Air-Conditioning (HVAC) systems. A rapid increase in the population along with the development of new business centers, such as offices, factories, warehouses, sports complex, hospitality, healthcare, etc., has stimulated the deployment of compact and efficient heating & cooling technologies. These building mechanical systems facilitate thermal comfort with enhanced air quality, thereby escalating market demand.
Increasing urbanization and rising green building construction is likely to drive the HVAC pump market growth. A centrifugal pump is the most common type of pump used in these systems for water circulation operations. Cost-effectiveness, low maintenance, and high safety are the major attributes that make it a preferred choice in commercial & residential establishments. HVAC pumps are widely deployed to maintain an efficient flow rate and distribution systems in the HVAC unit. Rising sustainability trends towards energy conservation will augment market revenue.
HVAC systems contribute to around 30% of the energy used by commercial buildings. Innovation in HVAC pump manufacturing with 3D printing and computer modeling has resulted in significant growth potential for market players operating across the industry. HVAC pumps offer lucrative opportunities in almost all types of manufacturing facilities such as textiles, chemicals, automotive, food processing, forest products, etc.
These pumps transfer fluids within the system and support the operation of chillers, boilers, and water towers. They require less floor space in a plant room for installation and reduce fossil fuel consumption. Moreover, the integration of adaptive pumping systems that use frequency converters and sensors to provide efficient flow rate throughout with minimum life cycle cost poised to boost consumption.
HVAC pumps are associated with high upfront and maintenance costs. Moreover, the COVID-19 pandemic has severely impacted the economic growth of leading nations, resulting in a decline in HVAC pump consumption among end-user industries. The entire value chain and competitive landscape have been affected due to various control measures during the period leading to low supply, inventory, and costs.
Based on product, the HVAC pump market is segmented into booster, boiler feed, and circulating pumps. Circulating pumps are usually electrically powered are ideally deployed in hot water service and cooling systems with low operational pressure in both residential & commercial applications. Significant expenditure in the production of customized pumps for extreme climatic conditions will propel the market outlook.
Based on end-user, the market is segmented into residential, commercial, and industrial. Soaring commercialization and urbanization have catalyzed the growth of HVAC pumps across domestic and commercial buildings. However, increasing government support and incentives for the development of infrastructural projects in the emerging nations of Asia Pacific and Middle East & Africa is driving the market demand.
North America and Europe collectively account for a significant HVAC pump market share through 2027. Countries including the U.S., the UK, Germany, Sweden, and Canada are highly developed and have advanced infrastructure facilities. The power/energy and industrial sectors are major consumers of HVAC pumps in the regions that will spur the market growth.
The competitive landscape of the global HVAC pump industry is moderately fragmented with the presence of large manufacturers and integrated distribution networks in emerging economies. Barriers to entry in the industry are high due to high startup & production costs associated with the equipment. Several multinational players are engaged in new product development and expanding geographical reach in the overall market. Recently, in 2020, WILO SE introduced energy-efficient Wilo-Yonos MAXO pumps that are fully integrated into building management systems.
Some of the notable HVAC pumps market players include Grundfos, Pentair, Xylem, Ebara Corporation, KSB SE & Co. KGaA, Thermal Tech, Bard Manufacturing Company, Kirloskar Brothers, Armstrong Air Gorman Rupp, C.R.I. Pumps, Torishima Pump, TACO INC., Bell & Gossett, AURORA GmbH, Danfoss, etc. In 2016, Xylem Inc. launched its new production facility in Jebel Ali, Dubai. This new facility will produce improved product series and provide integrated support to its customers across the Middle East and North Africa.
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