NEWS RELEASE AUGUST 2012
Pump Revenues to Exceed $38 billion in 2013
Sales of industrial pumps will be $38.8 billion in 2013 according to the latest forecast in Pumps World Markets published by the McIlvaine Company.
Centrifugal pumps will account for 73 percent of the total. Diaphragm, reciprocating and rotary pumps each have a relatively small market share. There are some applications for centrifugal pumps where other pump types are starting to compete due to higher performance and lower life time cost.
Unconventional oil and gas is one of the double-digit growth segments. The suppliers of the high pressure reciprocating pumps used in hydraulic fracturing are having difficulty in keeping up with the demand. Ballast water treatment and aquaculture are two additional segments with high growth. Municipal wastewater treatment in Asia is also a high growth market.
The larger pump companies and the analysts who track them are forecasting growth in the 5 percent to 6 percent range for 2013 and beyond. The McIlvaine report predicts similar growth for the industry. So the larger companies are not likely to increase their market share. On the other hand, a number of smaller Asian pump companies are projected to grow at double-digit rates. This means that some of the medium size and smaller pump companies in Europe and the U.S. will grow at rates lower than the average.
For more information on Pumps World Markets, click on: http://www.mcilvainecompany.com/brochures/water.html#N019