The global centrifugal water pump market was valued at $26,649.2 million in 2015, and it is expected to grow at a CAGR of 4.5% during 2016 - 2022. The factors driving the growth of the global market include increasing level of urbanization, rapid industrialization in developing economies, growing water scarcity, and growing construction industry and increasing disposable income.

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The growing construction of residential and non-residential buildings is driving the demand for centrifugal water pumps. With the increase in infrastructure investment, the demand for centrifugal water pumps will increase.

Among the various end-users, the municipal water and wastewater segment held the largest share in the global centrifugal water pump market in 2015. The rapid growth of urban population is creating pressure on the existing water infrastructure, which includes delivery of utility water and removal and treatment of wastewater.

In 2015, Asia-Pacific dominated the global centrifugal water pump market, accounting for approximately 43.3% share, which is expected to become 44.8% by 2022. The increasing level of urbanization, rapid industrialization and increasing disposable income are some of the major growth driving factors in the Asia-Pacific centrifugal water pump market, particularly in countries, such as India and China.

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Some of the major players operating in the global centrifugal water pump market include Flowserve Corporation, Ebara Corporation, Sulzer Ltd., Grundfos Holding A/S, Kirloskar Brothers Limited, KSB Aktiengesellschaft, Gardner Denver Inc., ITT Corporation, Torishima Pump Mfg. Co., and The Weir Group PLC.