World Pump Market to Grow by 19 Percent Through 2015

The world market for industrial pumps will grow by just 19 percent through 2015 when it will reach $40 billion. However there will be geographical and industry segments which will grow at a more robust rate than the average. This forecast is included in the most recent adjustments of revenues in the McIlvaine online market report, Pumps World Market.

The geographical segments with the highest growth include several Asian countries. India 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. The Marcellus shale region in the U.S. will require considerable investments in pumps to fracture shale and handle the flow back wastewater.

The international pump companies are taking advantage of the 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. The two largest are U.S. based. The following three are European. Sixth place is held by a Japanese company.