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Increased investements in Chemical, Water and Wastewater will Drive Demand for Pumps
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This research service analyzes current and future trends in the global pumps market across various industries. This analysis is in an Excel format. Analysis has been based on the key end-user segments of pumps (Oil and Gas, chemicals, Power generation, Construction, pharmaceuticals, Food and beverage, Metals and mining, water and wastewater, and others). The data are also segmented by positive displacement and centrifugal pumps. Positive displacement pump includes Diaphragm, Vane, Peristaltic, Piston, Gear, Lobe, Progressive cavity, Screw pumps. Centrifugal pump types include Single stage, multi stage, Axial and Mixed flow, Submersible, Seal-less, and circular pumps. Various market drivers and restraints and their impacts over time have been discussed. In addition, this research outlines the total market share analysis. A detailed regional breakdown covering North America, Latin America, Europe, the Middle East and Africa, and Asia-Pacific has been provided with revenue forecasts for end-user industries. The forecast period is from 2018 to 2024, with 2017 being the base year. From a global economic standpoint, the growth prospects seem extremely buoyant, wherein, the US economy has been forecast to experience a cyclical rebound in the near term, PD pump and centrifugal pump market is expected to witness a CAGR of 3.1% and 2.8% respectively, from 2018 to 2024. Furthermore, the Asian countries are expected to witness a year of strongest growth as far as sales are concerned. In several APAC countries, especially, economic activity has been forecast to a CAGR of 4.3% and 3.9% for the PD and centrifugal pump market, respectively. The key contributing factors to this positive global outlook stems Growth in the industrial infrastructure in the emerging markets of APAC and expected demand from end market such as power, chemicals, water and waste water due to increased investment. The positive global economic outlook for 2018 is presenting tremendous growth opportunities for pump manufacturers across the globe. In addition, Increasing demand for energy from developing economies due to the increase in middle class population and economic growth is resulting in the expansion of power generation and water and wastewater management. Tremendous rise in Middle East infrastructure and construction sector activities offers strong demand for pumps despite low oil prices and slump in production. In addition, High oil and gas sector dependency requires oil giants to reduce OPEX and improve production efficiency. This stimulates demand for energy efficient pumps and their associate services that help in remote monitoring and predictive analytics.
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