Industrial and municipal pump sales are expected to exceed $48 billion per year by 2019, according to a report by the McIlvaine Company.
East Asia will see the most growth as sales are projected to be over $18 billion in 2019 with the major purchasers being municipalities. East Asia is in the middle of building a number of drinking water and wastewater treatment systems, which use pumps to transfer water to and from the plant.
Other major purchasers will be the chemical industry, pulp and paper mills, and the iron and steel industry. Food and pharmaceutical companies will need to purchase special sanitary pumps; high-purity pumps will be needed for the ultapure water used to wash semiconducter chips; and the construction of plants to make generic drugs will also impact the market, the reports says.
Taiwan, Korea, China and Japan account for a large percentage of semiconductor manufacturing, and growth in this industry is expected to contribute to pump sales over the next six years.
The U.S. is expected to be a major purchaser in 2019 due to its continuing hydro fracturing activities as well as offshore extratiction, the report says.
Refining and gas processing will be significant markets in the Middle East, while mining will be a major market for pumps in South America and Africa.
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