Global Heavy-duty Pumps Market 2017-2021
About Heavy Duty Pumps
Heavy-duty pumps are mechanical devices that are used to transport fluids. These pumps have major applications in industries such as construction, mining, oil and gas, wastewater, pulp, pharmaceutical, and food and beverage. The major end-users of the market include oil and gas, processing, and other industries. The rise in investment in pumps by these end-user segments will propel the market growth. Governments worldwide are investing in infrastructural projects to cater to the needs of the growing population. The water resource management has gained focus across the world in the past decade. Countries are working toward better management of water resources to sustain the growing demand for water due to the rise in population.
Technavio’s analysts forecast the global heavy duty pumps market to grow at a CAGR of 3.86% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global heavy duty pumps market for 2017-2021. To calculate the market size, the report presents the list of key prominent vendors offering their products in the global market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Heavy Duty Pumps Market 2017-2021
Technavio recognizes the following companies as the key players in the global heavy duty pumps market: Flowserve, Grundfos, ITT, KSB, and Sulzer.
Other Prominent Vendors in the market are: ALFA LAVAL, Baker Hughes, EBARA, Gardner Denver, General Electric, Ingersoll-Rand, Metso, and The Weir Group.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is increase in demand from the food and beverage sector. Rising population, rapid urbanization, and increase in disposable income in countries such as China and India have increased the demand for processed food and other food and beverages. The rise in investments in food and beverage processing plants will help in catering to the increased demand for processed food globally. This growth in demand can be met by increasing the capacity of food processing plants, which will drive the market for heavy-duty pumps.”
According to the report, one driver in market is expansion of crude oil pipelines. Pump stations are used for oil pumping operations, through pipelines, from one point to the other. These stations consist of components like an electrical substation with electric motors facilitated by connecting pipes and valves and electrical equipment storage room. Any expansion of oil pipelines will drive the demand for heavy-duty pumps. Pipelines are the safest and the most efficient mode to transport petroleum products. They can cover long distances on land, underground, or undersea. The members of the Canadian Energy Pipeline Association (CEPA) transport a large quantity of petroleum products through pipelines and if the same is moved on the road then it would take 15,000 tankers and 5,000 railcars.
Further, the report states that one challenges in market is fluctuating raw material prices. The rise in competition in the heavy-duty pumps market has encouraged vendors to develop pumps with superior quality. Various components of pumps include valves, bearings, impellers, casings, and casings covers. These components are made of bronze, polycarbonate, cast iron, and stainless steel. Prices of these components fluctuate significantly because of their non-availability and inflation. Although vendors are attempting to absorb fluctuating prices of raw materials to remain cost-competitive, the manufacturing cost of heavy-duty pumps remains high.
Flowserve, Grundfos, ITT, KSB, Sulzer, ALFA LAVAL, Baker Hughes, EBARA, Gardner Denver, General Electric, Ingersoll-Rand, Metso, and The Weir Group.