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Strategic Analysis of the World Centrifugal Pumps Market
Frost & Sullivan, Aug 2010, Pages: 80
This Frost & Sullivan research service titled Strategic Analysis of the World Centrifugal Pumps Market provides a complete analysis of the world centrifugal pumps market from 2006 to 2016. It identifies the different areas of growth in terms of geography, products and end users. It also provides breakdown in terms of revenues. In addition, the research aims at finding the top five participants of each product type and provides a market share analysis.
The study analyses the current and future trends in the World centrifugal pumps market. With a number of end-user markets affected due to recession, this study determines the impact of recession on this market. Analysis by each type of centrifugal pumps have been discussed and analysed. In addition, product trends across various end-user sectors are also included as a part of this research. Market drivers and restraints along with the industry challenges have been mentioned and their impact on a time scale is discussed. A comprehensive analysis of the market share for each region has also been mentioned. The research also highlights the trend across different regions worldwide.
Market Overview
End-user Focus on Reduced Life Cycle Costs and Energy Savings to Promote the Adoption of Centrifugal Pumps
Regulations aimed at enhancing product quality in Asia, paralleled by the availability of growth opportunities in price-sensitive markets like eastern Europe, are set to boost the presence of Asian companies in the world centrifugal pumps market. Among the different regional markets, Brazil, Russia, India and China (BRIC) are expected to offer considerable growth opportunities. This is attributed to the stimulus packages directed towards the development of infrastructure. Although the financial crisis has affected most end-user sectors across the world, the demand for centrifugal pumps has been sustained through government-aided stimulus packages. Global demand for various types of centrifugal pumps is set to rise due to resumption of certain projects in the recovering economies.
“Countries constituting the BRIC are expected to witness considerable growth over the short term, mainly due to infrastructural developments,” states the analyst of this research. “In addition, factors such as population growth and urbanisation in developing economies are poised to boost growth prospects.” Mature economies such as Europe, Japan and North America are expected to offer opportunities mainly in the replacement business. With price reduction being the foremost factor in customer expectations, demand for energy-efficient pumps is projected to witness a slow, but steady, rise across different end-user applications. “End-user focus on life cycle costs and energy saving will boost market prospects,” explains the analyst. “As the maintenance, operating and energy costs of pumps contribute a major share of the total life cycle costs, customers are shifting focus towards products that offer better energy savings and greater life cycle advantage.” At the same time, greater emphasis on strategic services will also support market expansion. Although strategic services have been an integral part of the centrifugal pumps market, they have assumed greater significance during the recent financial downturn.
Penetration of Regional Markets is Critical for Leveraging Growth Opportunities
Although there are signs of economic recovery, there are concerns about the level of customer spending. End users are trying to reduce their outlays. This trend, coupled with volatile energy pricing and regulations, is anticipated to drive the demand for centrifugal pumps as they help reduce the energy consumption and operating costs of products. A key trend will be the intensifying competition from companies based in Asia. Regulations seeking to enhance product quality, together with the availability of growth opportunities in price-sensitive markets, are expected to heighten competition from local and regional pump suppliers. In addition, the focus of end users on reducing costs augurs well for pump suppliers able to supply cost-effective products.
Increased growth opportunities, reduced costs and cheap labour are driving end users to shift their manufacturing base to low-cost locations. With pump suppliers focused on penetrating these geographical markets, a rising trend of consolidation is expected. In addition, the trend of customers looking for one-stop-shop solutions, coupled with greater supplier focus on penetrating different end-user sectors, is set to further increase consolidation in the centrifugal pumps market. “With end users shifting their manufacturing base to Asia and Latin America, pump suppliers need to augment their penetration in these regional markets through strategic partnerships or acquisitions,” concludes the analyst.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following end-user sectors in this research:
- Oil and gas
- Water and wastewater
- Power generation
- Chemical process
- Construction (including HVAC)
- Mining
- Food and beverage
- Pharmaceuticals
- Others (like marine)
By Geography
- Americas (North America and South America)
- EMEA (Europe, the Middle East, Africa and Russia)
- APAC (Japan, India, China, Southeast Asia, Australia and New Zealand and other Asian countries)
By Product
- Single-stage radial flow pumps
- Multi-stage radial flow pumps
- Axial and mixed-flow pumps
- Submersble pumps
- Circulator and sealless pumps
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