Table of Contents
Improving Global Economic Conditions Expected to Boost Pumps Market
The study presents an outlook of the global centrifugal pumps market. The short term outlook for the market is bright with the robust growth of in many end-user verticals. The oil and gas, food and beverages, water and wastewater, chemicals, pharma, and power generation end-users are covered in this outlook. The driving forces contributing to market shifts include: the increasing demand for unconventional oil and gas, investments in chemical, growth in food and beverage segments. The time frame covered in this outlook is short term (2014).
-The global pumps market generated a revenue of $ billion in 2013 with centrifugal pumps being the dominant category.
-Oil and gas industry occupies the largest market share due to increased investments and activities in upstream, midstream and downstream sectors.
-Automotive, Construction and Manufacturing industries are the top end users of chemical products around the world. We will witness a steady stable growth of these end user sectors in the upcoming years and hence the demand for chemicals will increase. This in turn will increase the demand for pumps in chemicals industries.
-Increased demand from emerging nations for energy has boosted the sale of pumps in the power sector.
-In the centrifugal pumps category, single stage and multi stage pumps are predominantly used for most applications.
-End users have started understanding the advantages of positive displacement pumps over centrifugal pumps. In this segment, diaphragm, progressive cavity and screw pumps occupy majority of the market share.
-Replacements and retrofits will continue to be a driving factor across all end user verticals.
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