In a previous article we looked at Trends in the Fluid Power Valve Industry. Today we talk about trends in the pump marketplace.
Technological advances, due to stricter efficiency regulations to take effect in 2017, have led to more electrical components being used in pumps and more complex pump designs, substantially increasing the price of these units.
As a result, centrifugal pump suppliers now face a flood of new competition, according to a recently released report, “The World Market for Centrifugal Pumps”, from IMS Research, recently acquired by IHS Inc. Published in May, the report provides a five year forecast and offers insight into which regions and product categories will experience the fastest growth in the future.
IMS Research’s article, Centrifugal Pump Suppliers Remain under Pressure; Customers Becoming less “Centri-frugal”, talks about the upcoming changes to the structure of the pump market – including a forecasted expansion of more than 3% from 2012 to 2017.
Source: IHS Inc.
Biopharmaceuticals (branded biological drugs) are creating a major opportunity for the metering pumps market, according to an article in Empowering Pumps. The cost effectiveness of generic drugs and the growth of that industry, especially in Asia, is driving the metering pump industry due to the need to comply with standards set by the FDA and other regulatory bodies.
The article, Biopharmaceuticals – An Emerging Potential for Metering Pumps Market, states that smart metering coupled with services and government initiatives such as regulations are likely to fuel the metering pumps market. Research & Markets also provides a report on Global Trends & Forecasts in the Metering Pumps Market to 2017.
Pump servicing is an integral part of the pump industry and grew during the recession. End users are holding onto equipment longer and a decline in skilled workers leaves them without full internal service departments. Distributors can benefit because it provides an opportunity to act as the extended servicing arm for customers without those capabilities.
Source: Frost & Sullivan
The article, Pump Services: An Increasing Revenue Stream in the Industry, by Frost & Sullivan in Pumps & Systems, analyzes the global pump servicing market by end-users, such as the oil & gas industry, waste water, and food & beverage and which sector of pump maintenance has the highest growth potential.
The study suggests that distributors position themselves to capture this growth revenue stream by adding expertise and capabilities across diverse and new areas—including intelligent pumps/systems, enterprise asset management and life-cycle cost reductions.
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