LONDON, July 20, 2015 /PRNewswire/ -- Global demand for fluid handling pumps is forecast to grow 5.4 percent per year through 2018 to approach $80 billion. Although growth will be healthy across the globe (spurred by recovery from the recent economic downturn), the drivers of growth will vary by region. Advances in developing areas such as China and India will result from investment in water infrastructure and electricity generation to support ongoing industrialization. In developed areas, continued advances in manufacturing output will provide growth in the process manufacturing market. Oil producing nations such as those in the Middle East will exhibit gains due to rising production.
Process manufacturing to post strong market gains
Process manufacturing will register strong gains in pump demand, driven by growing output for chemicals, food, and beverages. Process manufacturing output will grow in developing regions, reflecting heightened standards of living. As consumers in these nations earn better incomes, they will spend more on goods such as fuel, chemicals, and food and beverages. Advances in pump demand in the water infrastructure market will result from two key factors: in developing nations, access to water supply and sanitation will be increased; in developed nations, aging water infrastructure will need repair and upgrade. Pump demand in the oil and gas market will benefit from
increased oil and gas production, which will require additional investment in pipeline infrastructure. Other markets will benefit from rising construction activity and from growth in electricity generation.
Positive displacement pumps to outpace industry average
Demand for positive displacement pumps will outpace the industry average due to growth in process manufacturing activity. The centrifugal pump segment will benefit from growing demand for more versatile, low-maintenance pump models. Demand for aftermarket parts will benefit from rising manufacturing activity, particularly in harsh environments such as the chemical industry.
Details on these and other findings are contained in World Pumps. It presents historicaldemand data (2003, 2008, 2013) plus forecasts (2018, 2023) by product type, market, world region, and for 36 countries. The study also considers market environment factors, assesses the industry struture, evaluates company market share and profiles key industry competitors such as Ebara, Flowserve, Grundfos, KSB, Weir, Xylem and Sulzer.
Download the full report: https://www.reportbuyer.com/product/1082913/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
For more information:
Research Advisor at Reportbuyer.com
Tel: +44 208 816 85 48