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Revival of Oil and Gas, coupled with investment in Chemical and water and wastewater industry will drive growth and focus on energy efficiency and productivity for 2019.
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This research service covers the global opportunities in 2019 for pumps companies in the top 3 end-user industry segments (water and wastewater, food and beverages, and construction). It offers regional analysis of how economic factors will impact the market. Opportunities in all end-user industry applications for pump manufacturers are highlighted, including oil and gas (upstream, midstream, and downstream); power generation; chemicals and petrochemicals; water and wastewater; construction/cement; food and beverages; metals and mining; and pharmaceuticals. Global economic changes and the impact on end-user industry trends and aftermarket services are detailed as well. The study outlines the latest trends in terms of industry, economy, and technology across the top 3 industry segments for centrifugal and positive displacement (PD) pumps across the globe. Geographic segmentation is divided by North America, Latin America, Europe, Asia-Pacific, and Middle East and Africa. The study period is 2018–2019. The study concludes with a competitive analysis of top pump participants and elaborates on their strengths and weaknesses for 2018. Top Predictions for 2019: • Oil prices dipped in Q4 2018 with 2019. Brent crude oil prices are expected to dip from an estimated $71.1/barrel in 2018 to $60.3/barrel in 2019. Oil supply and demand are expected to be largely balanced in 2019. Demand growth is expected to weaken in 2019, with OPEC and its allies expected to pursue production cuts in 2019 to mitigate the risk of oversupply. . • End Users are redefining their maintenance strategy and prefer to move toward pump solutions that can be continuously monitored and predict their failure. Service is becoming a critical factor for large institutional end users because without regular maintenance, end users risk downtime. A significant drop in productivity and profitability and high energy consumption can occur because of the downtime. Continuous process industries, such as oil and gas, chemicals, and power industry cannot afford downtime. • Market consolidation through mergers and acquisitions has been driving the growth and increasing the market share of major pump manufacturers. Hectic global competition is driving the global pump market to consolidation with a string of mergers and acquisitions in 2018. Compelling, fresh, and strategic perspectives on collaboration and consolidation will be necessary to drive long-term growth of larger market players in the high-growth markets. • Need for energy-efficient pumps is the key driver for the pumps market as European countries are focusing on reducing building energy consumption. Increasing emphasis is placed toward reducing energy consumption; to achieve the ambitious target of building a circular economy, product manufacturers across industries, including pumps, need to develop solutions that consume lesser energy Key Conclusions: • Global pumps industry growth in 2019 is expected to be driven by the Asia-Pacific and North American regions. • Key end-user industries presenting growth opportunities for pump manufacturers in 2019 include oil & gas, chemical and water and wastewater. • Innovation and investment in R&D will remain the key focus for global pump manufacturers in 2019. • Growing demand for energy-efficient pumps, reinstated by newly implemented government mandates and regulations, will result in more and more companies developing advanced design pumps with more electronic features that would enable better system integration and system efficiency. Emergence of new business models to unleash new revenue streams by embracing IIoT and gradual interest toward pumps-as-a-service. As economies recover and export markets are restored in the fiscal year 2019, the growth rate for pumps in key developed regions is expected to witness a gradual increase in terms of revenues and unit shipment size.
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