Asian recovery `to boost pump sales'
15 Jan 2000
The worldwide market for pumps will top $22billion in 2003 thanks to an expected recovery in Asian economies, according to market researchers at the McIlavine Company. In a new report,* the firm identifies sealless units as the fastest-growing products, and China as the fastest-growing region.
Although the US is to remain the largest single market for pumps, the bounce-back of the Asian nations will be the main driver behind market growth, says the report. Environmental trends will dominate the main application areas, meanwhile, with wastewater reclamation, combined-cycle power generation, paper recycling and leak prevention all figuring strongly.
The environmental theme continues with developments to the pumps themselves. `Innovations in design to reduce energy consumption and life cycle costs will pay dividends for progressive suppliers,' the report claims.
* `Pumps: world market 1999-2003'; $4900, The Hydraulic Institute, tel +1-973-267 9700, publications@pumps.org
