International. Growth in the global pump market continues to accelerate, driven by the rapid development of the water, wastewater, sanitation, and chemical industries.
Government stimulus programs, which are encouraging manufacturing plants and industries to invest more in energy-efficient improvements, will also drive innovation and technological development in pumps.
In the energy sector, investments are only expected to reach US$126.9 billion in pumps in 2017. However, opportunities will vary depending on geographic regions and pump types. For example, strong competition from European and Asian manufacturers is likely to affect pump sales in North America, as improved quality and competitive prices make these imports viable alternatives to U.S. pumps.
"For the global pump industry as a whole, long-term growth will be determined by the competitive pricing strategies of manufacturers and suppliers and their preparedness for disruptive shocks from other countries," said Frost & Sullivan analyst Shilpa Mathur Ramachandran. "Compelling, fresh and strategic perspectives on collaboration and consolidation will be needed to drive the long-term growth of the largest market players in high-growth markets."
"Companies should focus on becoming solution providers rather than independent equipment vendors," Ramachandran said. "Offering a complete end-to-end solution is an important competitive factor in the commercial mass pump market. Suppliers must work with their customers to understand the issues and then offer customized solutions."
