The prospect of pump market will reach 49 billion US dollars in ten years

The world pump market will reach 49 billion US dollars per year in 2016 from less than 30 billion US dollars per year now.

When the world's GDP will only grow by 4% per year in the next decade, the pump market will also grow by 5% a year. Although this growth is limited to some regions and sectors, such as European basic industries (steel, chemical, paper), and only 1% - 2%. McIlvaine has made this growth forecast based on several main aspects, including new energy, Asian urbanization and water infrastructure investment.

Pump plays an increasingly important role in oil and gas production, refining industry and power production industry. The lack of oil and gas has led to huge investment in alternative fuels. In Alberta, the new asphalt sand plant will require more than $50 million of pump products per year. Synthetic fuel projects, including coal liquefaction, will boost pump products by selling hundreds of millions of dollars a year. The use of liquefied natural gas (LNG) instead of traditional gas will have an important impact on the pump investment in liquefaction sites, such as liquefied gas tank transportation, and destination gasification. Coal fired plants have derived a variety of pump products, including those used in steam cycle, water and wastewater treatment and other high pressure service projects. China and the United States will be big buyers. Ethanol plants need pumps to carry water and process grain and sugar crops into fuel. In the next decade, hundreds of such factories will be built.

The urbanization process in Asia has brought hundreds of millions of people from the countryside to the cities. This will create a huge demand for infrastructure in areas such as the delivery of drinking water, medical facilities and wastewater treatment. The rapid growth of the pump market in Asia will contribute to large investments in paper, chemical, steel and other basic industries.

The important factor to promote the development of pump industry is the growth of water demand, which is seriously declining in supply. There is a growing need to make use of this limited resource through remediation of contaminated groundwater, desalination of seawater and other means of coping. Asia has less water than any other continent and will need more water treatment and transmission. As a result, about half of the pump valve investment will come from Asia.