Global demand for fluid handling pumps is forecast to increase at a 4.4 percent
annual rate to $47 billion in 2012, according to a study by the Freedonia Group (www.freedoniagroup.com). The study, titled World Pumps, predicts generally healthy economic conditions will support gains in global pump demand, particularly in rapidly developing areas such as China and India, where rising energy consumption and infrastructure development projects are expected to boost pump demand.
A healthy economic outlook coupled with a pickup in primary energy consumption is forecast to support pump demand in the United States, while an expanding utilities market for fluid handling pumps is expected to support gains in Japan and Western Europe.
According to Freedonia, centrifugal pumps will continue to account for a larger share of the pump market than positive-displacement and specialty pumps, due to their varied pressure and load handling capabilities — including the ability to handle liquids with high solids content — and relatively low maintenance costs. Among the major positive-displacement pump designs, diaphragm pumps will post the most rapid gains due to their low installed cost, simplicity, and versatility along with rising investment by utilities and process manufacturing industries. Turbine pumps are also expected to see rapid growth, largely supported by an increase in water pumping and sewage applications.
Utilities are projected to see the fastest growth among the major pump markets, supported by increased utility construction, particularly in developing regions, where water and electricity delivery systems are being built. Although the process manufacturing market is not forecast to see as rapid gains, it is still expected to remain the largest user of pump products due to the wide range of applications and significant fluid handling requirements in many of these industries. Gains will be spurred by increasing output in most process industries. The resource extraction market is also projected to see increases due to rising oil production.