Industrial pumps find application in various industries and play an essential role in moving an assortment of fluids from one location to another. Industrial pumps come in a variety of shapes, sizes and capacities. Industrial pumps are broadly segmented as centrifugal pumps (also called roto-dynamic pumps) and positive displacement pumps. Centrifugal pumps comprise axial, mixed-flow and radial types. Positive displacement pumps include piston, screw, sliding vane and rotary lobe types. Conformance to performance standards and reliability of these pumps is very crucial. For instance, pump failure in a cooling system can result in overheating and substantial damage to equipment.Various end-use industries for [URL=https://www.futuremarketinsights.com/reports/asia-pacific-industrial-pumps-market]industrial pumps[/URL] include water, wastewater, oil & gas, chemicals, food & beverages and others. Centrifugal pumps are the extensively used type because of their low cost, low maintenance and long service life. Centrifugal pumps are used in high-flow, low head applications with low fluid viscosity. In contrast, positive displacement pumps are used in low-flow, high head applications with high viscosity fluids and accurately controlled flow applications. Centrifugal pumps are anticipated to lead in terms of market share. The various services in power generation segment such as boiler feed, circulation, sludge handling and cooling stations are the largest market for centrifugal pumps. Positive displacement pumps find extensive use in renewable power generation such as micro-hydroelectric power generation; however, this type find limited application in the power generation industry.
Improving economic conditions in the Asia Pacific (APAC) region are expected to open up enormously potential opportunities for pump manufacturers, as the automotive, construction and manufacturing industries are likely to witness substantial growth in the coming years. Along with the harsh impact of the recent recession, tough competition from low-cost manufacturers in developing nations is indeed a major restraint for development of the industrial pumps market in this region. Customers are usually inclined towards low-cost products, which barely comply with environmental standards. This factor is impacting the industrial pumps market to considerable extent.
As it is difficult to compete with low-cost rivals on the basis of price, leading industrial pump manufacturing companies will need to adopt different promotional strategies, based on the quality of their products, services and maintenance to sustain in the global market.
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The key players in the industrial pumps market are ITT Corp., Flowserve Corp., KSB AG, Sulzer Ltd., Grundfos A/S, Ebara Corp., Weir Group plc, Baker Hughes, Inc., Schlumberger Ltd. and Clyde Union, Inc.