LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global pump market to grow at a CAGR of over 5% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global pump market for 2016-2020. The report also lists centrifugal pumps, positive displacement pumps, and specialty pumps as the three major product segments for the global pump market.
Technavio heavy industry analysts highlight the following three factors that are contributing to the growth of the global pump market:
- Pumps for building services
- Focus on energy-efficient buildings
- Rising adoption of solar pumps
Pumps for building services
In building services applications, the choice of pumps is dictated by the power rating and the nature of the fluid to be handled, while parameters such as discharge rate and head required also have an impact. In the building segment, single-stage centrifugal and horsepower pumps with horsepower ranging from 0.50 hp and 10 hp are preferred.
In (the Middle East and North Africa) MENA, Flowserve, KSB, Ebara, and ITT are the major suppliers catering to building services and heating, ventilation, and air conditioning (HVAC) systems. Prominent suppliers of pump equipment in the region are Xylem (ITT) and Grundfos.
Focus on energy-efficient buildings
The importance of green buildings and sustainability is gaining ground in the fight to reduce carbon emissions and waste generation through eco-friendly practices. The adoption of Leadership in Energy and Environmental Design (LEED) ratings takes into consideration the energy efficiency of equipment such as pumps and fans.
While concepts such as LEED ratings have been widely accepted in developed countries, their adoption in countries in MENA is rising. These countries are placing more emphasis on environment-friendly models and configurations that contribute to achieving green building ratings. In MENA, some of the key projects where these solutions are deployed include Masdar City in Abu Dhabi and Dubai Sustainable City. In order to meet the standards of green buildings, pumps must be designed or reengineered with energy-efficient materials and contain either energy-efficient motors or variable frequency drives (VFD) or both to reduce energy consumption. Pump manufacturers also offer integrated solutions to the construction sector, including geothermal heat pumps and heat recovery ventilators, so that energy consumption can be reduced up to 40%.
According to Anju Ajaykumar, a lead analyst at Technavio for engineering tools “The increase in demand for energy efficiency along with the steady growth of the commercial, residential, and infrastructure activities in MENA will fuel the demand for pumps. The future requirements for essential components such as HVAC, water treatment, wastewater discharge, and firefighting systems are projected to boost the demand for pumps.”
Rising adoption of solar pumps
Pumps are a critical part of irrigation and communal water supply systems in rural economies. But in many developing countries that have poor infrastructure, it is not always possible to plug into a reliable local power grid as is the case in many rural areas in India, Pakistan, Yemen, Bangladesh, and South Africa. Moreover, there are restrictions on the continuous access to power grids. Therefore, most of the electricity is produced using diesel fuel generators, which cause noise and environmental pollution, besides being costly to operate.
Solar pumping systems offer a practical solution to overcome the problems posed by shortage of electricity. Besides irrigation, solar pumping systems are used in community water supply, forestry, fish farming and agriculture, and wastewater treatment engineering. “The other application areas of solar pumps include municipal engineering where they are used in city parks, resorts, tourist sites, and even landscapes and fountains in residential areas,” says Anju.
Browse Related Reports:
- Global Screw Pumps: Market Analysis 2015-2019
- Global Diaphragm Pump Market 2015-2019
- Global Rotary Pump Market 2015-2019
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