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CM_183239
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Pages: 220
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Jun 2018 | 1601 Views
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Author(s) :
Priyanka Khandelwal
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Tables: 109
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Charts: 48
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Heavy-duty pump is an industrial pump which is used to transfer highly viscous, corrosive, or abrasive products such as chemicals, sewage, crude oil, and others proficiently from one location to another. The global heavy-duty pumps market size was $12,823 million in 2017, and is projected to reach $19,522 million in 2025, growing at a CAGR of 5.4%.
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An increase in demand for electricity and power consumption is observed globally, that further fuels, the power industry, and thereby boosts the need of heavy-duty pumps. In addition, the surge in oil consumption worldwide fuels the oil & gas sector, which in turn generates opportunities for the heavy-duty pumps market. In addition, market players are adopting new strategies such as acquisitions, business expansions, and others to boost the growth of the heavy-duty pumps industry. For instance, Flowserve Corporation acquired SIHI Group B.V and thus, strengthened its Industrial Product Division. Similarly, GE acquired Baker Hughes in 2017, and GE’s oil and gas equipment and services operations were merged with Baker Hughes and renamed it as Baker Hughes, a GE Company. Such developments are anticipated to substantially fuel the growth of the heavy-duty pumps industry. Further, pumps must conform to a wide-range of standards. For instance, all centrifugal pumps that operate in the petroleum, petrochemical, and natural gas sectors need to follow the American Petroleum Institute (API) 610 standard to handle hydrocarbons. Hence, technological advancements in the pumps and regulatory standards to save energy create lucrative opportunities for the growth of the heavy-duty pumps market. However, the unpredictable changes in prices of raw materials are anticipated to impede the growth of the heavy-duty pumps market.
Economies such as China and India, are densely populated, thereby creating a huge demand for food, electricity, oil, gas, power, and others. Thus, there is an increase in installation of food processing plants, oil, gas, & power processing plants, thereby fueling the growth of the heavy-duty pumps market. In addition, over the years, countries in Europe have used their advanced technologies to treat industrial water. Now, these countries are shifting their focus on treating municipal water infrastructure, thereby fueling the growth of the heavy-duty pumps market. Moreover, prominent manufacturers have been working hard to produce heavy-duty pumps for the different industrial sectors, such as chemicals, food processing, mining, and others. For instance, regional players such as Alfa Pumps in India, offer heavy-duty gear pumps for the food processing industry and chemical industry, and Sunbo Pumps in China offers heavy-duty centrifugal slurry pumps for the mining industry.
The global heavy-duty pumps market is segmented based on pump type, product type, end-user industry, and region. Based on pump type, the heavy-duty pups market is bifurcated into centrifugal pump and positive-displacement pump. The centrifugal pump segment is anticipated to dominate the global heavy-duty pumps market throughout the study period. Based on product type, the market is categorized into crude oil, fuel oil, asphalt, and others. The crude oil segment is projected to dominate the global heavy-duty pumps market throughout the study period. Based on end-user industry, the market is categorized into oil, gas, & power, processing, and others. The processing industry segment accounts for the maximum market share.
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Pump Type
The pump type segment comprises of centrifugal and positive-displacement. Among these, the centrifugal segment is expected to grow at a significant growth rate during the forecast period owing to its long service life and low maintenance. In addition, surge in population, rapid urbanization & industrialization, and increase in oil, gas, & power production have fueled the water & wastewater management, which is further expected to boost the growth of the heavy-duty centrifugal pumps market. Moreover, many industries such as power generation, food & beverages, and others, use heavy-duty centrifugal pumps, as these pumps are highly efficient, have large wear resistant capacity, and wide flow-rate capacity.
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Region
The following graph exhibits the growth potential of various regions in the global heavy-duty pumps market. The heavy-duty pumps market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Among these, Asia-Pacific holds a significant share in the global market, owing to rise in demand for food & beverage and portable water in the region. The Asia-Pacific market is projected to register the highest CAGR of 6.2% followed by LAMEA. North America and Europe possess high growth potential, due to increase in demand for oil & gas as well as fresh drinking water. Rapid urbanization, growth in population, and increase in awareness regarding water & wastewater management have facilitated widespread adoption of heavy-duty pumps.
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Key Benefits for Heavy-duty Pumps Market :
The study provides an in-depth analysis of the global heavy-duty pumps market along with the current trends and estimations to elucidate the imminent investment pockets.
Information about the key drivers, restraints, and opportunities and their impact analyses on the market size is included in the study.
Porter’s five forces analysis illustrates the potency of the buyers and the suppliers operating in the industry.
The quantitative analysis of the global market from 2017 to 2025 is provided to determine the market potential.
Heavy-duty Pumps Key Market Segment :
By Pump Type
Centrifugal
Positive-Displacement
By Product Type
Crude Oil
Fuel Oil
Asphalt
Others
By End-User Industry
Oil, Gas, & Power
Processing
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
Russia
France
UK
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players Profiled in the Report
Alfa Laval
EBARA Corporation
Flowserve Corporation
Gardner Denver, Inc.
General Electric Company
Grundfos
ITT INC.
KSB SE & Co.
Sulzer Ltd.
The Weir Group PLC
Heavy-duty pumps are widely used in the past few years in many industries such as oil & gas, food & beverage, petrochemicals, pulp & paper, and others, thereby stimulating the growth of the market. In addition, rise in infrastructural improvement and urbanization is also estimated to fuel the heavy-duty pumps market.
The market players have developed new ways to improve efficiency, and productivity of heavy-duty pumps. Heavy-duty pumps can efficiently perform heavy-duty applications such as slurry transfer, fuel oil transfer, asphalt transfer, and others. Moreover, manufacturers have implemented new technologies such as smart pipes, and others to boost the demand for heavy-duty pumps. For instance, ITT Inc. has developed technological devices such as PumpSmart Controllers and i-ALERT2 equipment health monitoring devices to control pumps, and thus, such new innovations generate revenue for the market.
Growth in demand for portable and clean water in regions such as Europe, and others drive the market growth. In addition, the features of heavy-duty pumps such as easy maintenance and high reliability are expected to propel the growth of the heavy-duty pumps market.
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