Explore more Categories
Artificial Intelligence involves the science and engineering of developing intelligent machines
The manufacturing world is at a cusp of a new revolution that will redefine conventional business models
IoT will have a major impact on businesses and consumers in the future
The world is creating 2.5 exabytes of data daily
Our research seeks to connect-the-dots across multiple trends
Personal Robots are Set to Be a $19 Billion Market
Strategic Analysis of BREXIT and its Implications to Industries, Economies and Societies
iFrost is a digital platform for interactive and dynamic reporting of data.
The TOEs are a great source of information which gives corporates critical information on companies to action for their strategic investments either as an open source platform or to collaborate and to develop successful products
Need for Energy-efficient Pumps and Improved Domestic Demand are Driving the Growth
* Required Fields
Pay by invoice
Accommodative monetary policy and low interest rates by the European Central Bank, coupled with increasing investments by Chinese investors in Central and Eastern Europe, had aided the resurgence of European economy in 2017. As part of China’s One Belt One Road project, the 16 Plus 1 initiative has made investments of $3 billion and plans to invest further in Central and Eastern European countries. In addition, the outcome of the Brexit referendum further strengthened the rest of the countries in Europe in terms of trade, investment, and monetary policies; this resulted in the fastest GDP growth rate in the European economy since 2007, an increase by 2.5% Y-o-Y, surpassing a 2.3% growth rate in the US. Central and Eastern European countries were key contributors for this positive growth rate. European commercial buildings were one of the key benefactors of the recovering economy and attracted an investment of €47.4 billion from various investors until Q3 2017, despite geopolitical uncertainties in Europe. In addition, the European commercial building industry witnessed large transactions coupled with corporate mergers and acquisitions, indicative of strong growth opportunities. Increasing investment in the commercial building industry is subsequently driving the demand for pumps in building applications such as HVAC, pressure boosting, drainage and sewage, and fire protection. Furthermore, increased need to revamp existing infrastructure has boosted demand for pumps, as more than 30% of the buildings in Europe are over 45 years old. Refurbishment and replacement activities in old building applications will further drive the demand for commercial pumps. Furthermore, with energy consumption being greater than 40% of the total European energy consumption, building services is one the largest energy-consuming industries. As a result, Europe’s legislation concerning energy-efficient policies aims to reduce energy consumption in building services drastically by 2020. The goal of the Energy Performance of Buildings Directive is to make all new buildings reduce to net zero-energy by the end of 2020. European countries such as the UK, France, and Germany have been mandated to set minimum energy performance requirements for new buildings, execute inspection schemes for HVAC systems, and refurbish existing systems. Thus, the strict regulations mandated by the government have increased the need for energy-efficient pumps in building applications. Hence, end users of pumps involved with building services such as commercial builders, OEMs, EPC companies, along with technical consultants are constantly seeking pumping solutions that are energy efficient. With the advent of the IIoT, pump manufacturers are embracing IIoT technologies, such as cognitive computing and real-time data analytics to increase the lifespan of pumps, albeit at a slower rate. Pump manufacturers are already collaborating with software simulation providers to use digital twin technology to provide end users with smart pump solutions. Smart and energy-efficient pumps will enable data sharing and assist in real-time control of HVAC temperature, flow, and pressure. With transforming technologies accompanied by changes in the requirements of end users, pump manufacturers are constantly innovating to enhance quality as well as features. In conclusion, the global pumps market in commercial building services is driven by growing urbanization, environmental regulations, and the need for better commercial infrastructure in most of Europe. Continued investment in the European commercial buildings market will lead to an increased number of commercial buildings, subsequently driving the pumps market. In addition, refurbishment and replacement of old pumps in existing infrastructure will aid growth. Finally, a focus on energy-efficient systems and green building will drive manufacturers to produce smarter pumps that have enhanced energy-efficient features and are compatible with current IIoT technologies. Author: Avinash Kumar
Global Oil-free Compressor Market, Forecast to 2023
European Vacuum Pumps Market, Forecast to 2024
European Pumps Market in the Chemical Industry, Forecast to 2025
European Intelligent Pumps and Controllers Market—Driving Smart Revolution, Forecast to 2024
Global Pumps Market Factbook, Forecast to 2024
North American Pump Services Market, Forecast to 2023
European Positive Displacement Pumps Market, Forecast to 2022
Global Pumps Market in the Oil and Gas Industry, Forecast to 2024
Opportunity Analysis for Suppliers in the Marine Pumps Market, Forecast to 2023
Integrated Food Traceability—Implementation and Impact on Processing Equipment in North America, Forecast to 2020
fuel cell market
energy storage market
residential solar market
mobile biometrics market
smart home market
solar cell market
agricultural drones market
well intervention market
Fill in the fields below to receive a sample report
Don't have an account? Create One!
Enter your Email Address here to receive a link to change password.
If you are an existing frost.com user, please register using the same email for seamless access
Already have an account? Login!
Use your Linkedin account to login or register within our store.You're just one click away.