The world market for industrial pumps will grow just 19 percent through 2015 when it will reach $40 bil., according to a report by McIlvaine Company. However, McIlvaine predicts there will be geographical and industry segments which will grow at a more robust rate than the average.
The geographical segments with the highest growth include several Asian countries. India, for example, is building new coal-fired power plants and is starting to address the need for clean water. The growth of pump sales in China will be 10 percent annually over the next five years. Unconventional oil and gas is a fast growth application segment, according to McIlvaine, with the Marcellus shale region in the U.S. requiring considerable investments in pumps to fracture shale and handle flowback wastewater.
Meanwhile, McIlvaine says international pump companies are taking advantage of market growth in Asia, but in general, they are losing market share as Chinese manufacturers are making inroads. Nevertheless, the world market is served with a few very large international suppliers, with the two largest being United States-based. The following three are European. Sixth place is held by a Japanese company.
McIlvaine has ranked the pump companies by sales revenues as follows:
Slots 11-20 include seven U.S. companies and three European firms. One Indian company is in the next tier (Kirloskar is #23). Chinese companies have moved up and some are in the fourth tier. McIlvaine has ranked 451 companies. There are more than 10,000 companies manufacturing pumps, but most have sales revenues below $1 mil.