LONDON, April 27, 2016 /PRNewswire/ -- This research service covers the challenges faced by participants in the pumps industry and their expectations for the year 2016–2017. The study is a compilation and interpretation of customers' views (from top end-user industries) and expectations from the North American pumps industry. It provides a regional analysis and covers the economic factors affecting the market. North American economic changes and their impact on the end-user industry trends and aftermarkets services are also detailed.
The global pumps industry generated $ in 2015—lower than $ Million in 2014, primarily as a result of slowdown in most end-user sectors, including oil and gas (O&G), power generation, and water and wastewater, due to the fluctuations in global oil prices in the fiscal year 2015.
- In 2016, however, Frost & Sullivan expects the pumps industry to witness positive growth from the chemicals and food and beverages (F&B) sectors, as a result of rebound in investment activities in response to the forecast steadiness in oil prices.
- In light of the growing demand from emerging markets, the water and wastewater sector has been experiencing improved sales since 2012 and is bound to continue to display steady growth until 2018.
- Growing interest in positive displacement (PD) pumps, as a result of their advantages over centrifugal pumps, is causing them to grow at a faster rate than the latter. The most popular product types in this segment are diaphragm, progressive cavity, and screw pumps.
- Adoption of PD pumps is growing, especially in the sectors of chemicals, O&G, F&B, and pharmaceuticals. The 2015–2016 year-on-year (YOY) growth rate of global revenues generated by chemicals for the global PD pumps market was %, while F&B remained at %.
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