Cleveland, OH — World demand for fluid handling pumps is forecast to increase nearly 6% per year through 2008 (including price increases) to over US$35 billion. This represents an improvement over the 1998-2003 period, reflecting accelerating macroeconomic growth in developing regions and Eastern Europe.
Improving economic fundamentals — especially fixed investment levels — will bolster most pump consuming sectors and strengthen underdeveloped infrastructures in these regions. These and other trends are presented in World Pumps, a new study from The Freedonia Group Inc.
The most promising markets are those emerging in Latin America and the Asia/Pacific region, where faster population growth and more rapidly increasing levels of industrial output will stimulate demand for pumps in industries such as chemicals, pulp and paper, and metal manufacturing.
Expanding populations will also demand more portable water and electricity, thus stimulating utilities to utilize more pumps. For example, China will record some of the strongest increases, with pump demand rising 10.0% annually through 2008. India will also post strong gains due to ongoing industrialization and impressive gains in fixed investment. The Latin America region, in particular Argentinia, will benefit from macroeconomic recovery after the early 2000s recession.
The advanced nations of North America, Western Europe and Asia/Pacific (i.e. Australia, Hong Kong, Japan, New Zealand, Singapore, South Korea) comprise mature markets for pumps. Although the pump markets in the U.S., Japan and Western Europe will all register below average gains through 2008, all three will also see an improvement in their respective markets over the performance of the 1998-2003 period.
Centrifugal pumps will continue to be the most 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.
For more inforamation about the study, contact Freedonia at www.freedoniagroup.com, send a note to info @freedoniagroup.com, or call 440-684-9600.