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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.Top Predictions for 2019: • Brent crude oil prices are expected to dip from an estimated $71.1/barrel in 2018 to $65.15/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, they risk downtime. A significant decline 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 participants 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 being placed on 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.
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 the 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 in 2018.
Author: Avinash Kumar
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