LONDON, March 21, 2016 /PRNewswire/ -- 2016 Global Outlook of the Pumps Industry : The Pumps Industry will Witness Major Consolidation and Investments in Innovation to Cope with Economic Turbulences in 2016
This research service covers the global opportunities for pumps companies in the top 3 end-user industry segments. A regional analysis is provided for North America, Latin America, Europe, the Middle East and Africa, and Asia-Pacific to explain how economic factors will affect the market. Opportunities in oil and gas and wastewater applications for pump manufacturers are highlighted. Additionally, global economic changes and their impact on end-user industry trends and aftermarket services are discussed. The base year for analysis is 2015.
Top Predictions and Trends for 2016
Oil and Gas Continues to Hurt
Declining oil prices will have significant impact on the market as, in 2016, for the first time in the past decades, end users will cut CAPEX investment for a second straight year. As oil and gas is the largest end-user segment, this is expected to affect the market.
Make Hay While the Sun Shines
With low-priced oil and increasing demand for gasoline, US refineries are running at record capacity utilization levels and crude oil spread margins. Investments in upgrades and new storage capacity will boost pump sales in 2016.
Roaring Tiger and Slumping Dragon
India will continue to be a key bright spot within emerging economies, attracting significant foreign direct investments (FDI) and greenfield investments. Slowdown in Chinese exports and weakness in manufacturing are affecting new investments, which will cascade to the broader economy, affecting pump sales in 2016.
Energy Efficiency on the Forefront
With end users focusing on cost cutting, new technologies offering energy savings and operational excellence will be winners. Schlumberger's $ million deal with Energy Recovery Inc.'s Vorteq technology is a case in point.
Tilting towards IoIT
Sensorization, data deluge, and focus on analytics and cost savings are helping to drive the Internet of Industrial Things (IoIT). New entrants are challenging incumbents, as traditional pump manufacturers continue to do "more of the same".
Services Sweet Spot
As end users adopt a wait-and-watch approach for new investments, pump companies could boost aftermarket sales revenue to compensate for the loss in new project sales.
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