Global Demand for Fluid Pumps is Forecast to Grow 5.6% Per Year Through 2022 - Analysis by Region, Market and Product Type - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Oct 10, 2018--The “Global Pumps by Region, Market and Product Type, 11th Edition” report has been added to ResearchAndMarkets.com’s offering.
Global demand for fluid pumps is forecast to grow 5.6% per year through 2022.
Acceleration of global fixed investment, expansion of process industries including chemicals manufacturing and food and beverage processing, and advancement of global water infrastructure will drive demand for centrifugal, positive displacement, and specialty pumps.
Process Pumps are Needed to Satisfy a Growing Appetite for Chemicals, Processed Foods
The process manufacturing market for pumps will outpace other key pump markets due to strong growth in key process industries. Global demand for chemicals, processed foods and beverages, metals, and other products such as plastics and textiles will continue at a steady pace, expanding sales opportunities for pumps. The market for centrifugal and positive displacement process pumps that are optimized to handle specific materials will have particularly favorable growth prospects.
Plant Operators Seek Smart Pumps and Internet of Things Solutions
In developed markets, the drive toward improved energy efficiency, reduced downtime, and lower maintenance costs will accelerate the market for smart pumps and internet-enabled accessories. Because pumping systems often account for a major portion of plant expenses, operators who adopt smart pumping systems can gain an edge over competitors by improving profit margins. As a result, these products will be a rapidly growing market area.
Sales Opportunities in Positive Displacement Pumps and High Performance Centrifugal Pumps
Positive displacement pumps are expected to record the fastest increase in demand as global fixed investment rises. These pumps are generally more costly to own and maintain than centrifugal pumps, but are preferable in certain applications, such as handling delicate or viscous materials. High performance centrifugal pumps, including high powered multistage and submersible types, seal-less, and corrosion-resistant pumps, will also make inroads.
This industry study presents historical demand data (2007, 2012, and 2017) and forecasts for 2022 by market (process manufacturing, oil and gas, water infrastructure), product (centrifugal; positive displacement: diaphragm, reciprocating, and rotary; specialty and other; turbine; and drivers, parts, and accessories), and region (North America, Central & South America, Western Europe, Eastern Europe, Asia/Pacific, and Africa/Middle East).
The study also evaluates company market share and provides analysis on industry competitors, including:Ebara Flowserve Grundfos KSB Sulzer Weir Wilo Xylem
For more information about this report visit https://www.researchandmarkets.com/research/ffwrnk/global_demand_for?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20181010005491/en/
Laura Wood, Senior Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 10/10/2018 08:06 AM/DISC: 10/10/2018 08:06 AM