The Freedonia Group Inc have recently published an interesting new study called World Pumps. The report by the company has excited those in the pump industry by stating that the demand for fluid handling pumps is going to see unprecedented growth. Across the world, pumps demand is going to see massive increases over the next four years. In fact, they have predicted that the pumps market can expect a huge 5.5% rise per year, which will results in a sales figure of $84 billion in 2018!
In a nutshell, the USA owns the biggest share of the market. This is because of its water infrastructure, oil and gas industries and most importantly their large manufacturing industries. The country is currently the largest fluid handling pump producer but they will fail to retain this title by 2018.
Other large exporters of fluid handling pumps include; Japan, Germany and Italy who can expect growth because of their large outputs, pumps experience and their priceless expertise.
Developing countries will see a bigger rise and so will countries that are willing to invest in the industry. The report suggests that if governments agree to a fixed investment, pump manufacturers can use the investment to build new premises or if they have a premise already can chose to upgrade their facilities or modernise in order to improve the pump manufacture production
New pump demand is set to be the strongest in the Asia-Pacific region. The report suggests that new pump demand will be as much as 44% by 2018 and will experience a soar in sales. In fact, the region will experience a huge sales soar, a 6.4% per annum increase to be precise. This is because the region has plans to spend money on improving construction and Asia-Pacific have also committed to investing in fixed assets.
China is the key reason Asia-Pacific will experience such growth. It will be responsible for nearly one quarter of new pump demand globally. In fact, only recently has China established itself as a key producer of pumps. 2013 was a big year for the country as it sent shipments of over eleven billion dollars. At the beginning of the article we mentioned that the USA will fail to remain the largest fluid handling pump producer and thanks to foreign investment and production costs in China, the country will take over and China will become the leading pump producer.
Mike Deneen, Market Analyst said: “Several Asian countries are projected to record impressive gains, including China and India.”
Central and South America are set to see the highest increases annually. This is primarily down to Brazil and Argentina and their industrial transformation.
Hydro technology is one of the biggest reasons we will see pump demand increase. This is an area that is going to see heavy investment as the water supply and sanitation systems are set to expand. The world is also about to see an expansion in mining activities. This means that those countries that contain mining businesses will experience a soar in pump demand. Oil production will also be another industry that will help the pumps sector grow.
It’s seems it’s going to be great news for centrifugal pump suppliers as they will remain the most used pump design. This is due to a number of reasons including their load handling capabilities and varied pressure.