Sales of industrial pumps in 2009 will be flat, equal to the $32.5 billion achieved in 2008, according to a report by the McIlvaine Group (www.mcilvainecompany.com). The forecast, titled Pumps World Market, predicts growth will return in 2010, with demand for pumps rising by 2.5 percent during the next calendar year.
During the coming year, however, some industry sectors, such as electronics and mining, figure to be down 10 percent, according to McIlvaine.
Pump Revenue 2008-2009
Overall, McIlvaine says the pump industry will fare better than most in the tough economic environment of 2009. Replacement parts and service figure to remain significant revenue producers, and this will help lessen the peaks and valleys of the new plant market. Some of the major markets, such as municipal wastewater and drinking water, are also not sensitive to near-term economic conditions, according to McIlvaine.
These forecasts are subject to continuing adjustment, says McIlvaine, which acknowledges that general markets figure to be more volatile and less predictable than at any time since McIlvaine started forecasting in 1974.
For more information on Pumps World Markets, visit www.mcilvainecompany.com/brochures/water.