World Pumps - Demand to Rise 5.4% Annually Through 2018

World demand to rise 5.4% annually through 2018

Global demand for fluid handling pumps is forecast to grow 5.4 percent per year through 2018 to approach $80 billion. Although growth will be healthy across the globe (spurred by recovery from the recent economic downturn), the drivers of growth will vary by region. Advances in developing areas such as China and India will result from investment in water infrastructure and electricity generation to support ongoing industrialization. In developed areas, continued advances in manufacturing output will provide growth in the process manufacturing market. Oil producing nations such as those in the Middle East will exhibit gains due to rising production.

Process manufacturing to post strong market gains

Process manufacturing will register strong gains in pump demand, driven by growing output for chemicals, food, and beverages. Process manufacturing output will grow in developing regions, reflecting heightened standards of living. As consumers in these nations earn better incomes, they will spend more on goods such as fuel, chemicals, and food and beverages. Advances in pump demand in the water infrastructure market will result from two key factors: in developing nations, access to water supply and sanitation will be increased; in developed nations, aging water infrastructure will need repair and upgrade. Pump demand in the oil and gas market will benefit from increased oil and gas production, which will require additional investment in pipeline infrastructure. Other markets will benefit from rising construction activity and from growth in electricity generation.

Positive displacement pumps to outpace industry average

Demand for positive displacement pumps will outpace the industry average due to growth in process manufacturing activity. The centrifugal pump segment will benefit from growing demand for more versatile, low-maintenance pump models. Demand for aftermarket parts will benefit from rising manufacturing...