World Pump Demand to Reach $37 Billion (US) in 2010
The best prospects for pump suppliers will continue to be found in the developing regions, especially Asia, where India and China are expected to enjoy strong growth. Latin America and the Africa/Mideast region will also register growth above the world average, but will trail gains expected in parts of Asia due to the lagging stage of industrial infrastructures in those regions. Prospects are also favourable in Eastern Europe, where manufacturing output is expected to post solid gains. Although the pumps markets in the US, Japan and Western Europe will all register gains that will lag the global average through 2010, all three will also see an improvement in their respective markets over the performance of the 2000-2005 period.
Centrifugal pumps will continue to be the commonly used type, due to their varied pressure and load handling capabilities -- including the ability to handle liquids with a high solids content -- and relatively low maintenance costs. Among the major pump types, diaphragm types will post the fastest gains due to rising investment in process manufacturing industries. Gains for turbine pumps will result from use in water pumping and sewage applications.
Among the major markets, utilities are expected to see the fastest growth, benefiting from rising construction expenditures by utilities providers. This is especially true in developing regions, where water and electricity delivery systems are being built. Aftermarket demand will also remain significant in developed regions, as infrastructure in many nations requires replacement due to age. The process manufacturing market is expected to remain the largest user of pump products due to the wide range of applications and significant fluid handling requirements in many of these industries. Growth will benefit from increasing output in most process industries. The resource extraction market is expected to see increases due to rising demand for oil and gas.