MOUNTAIN VIEW, Calif., Aug. 6, 2015 /PRNewswire/ — The positive displacement (PD) pumps market, which previously boomed as the oil & gas industry created abundant business opportunities, now faces challenges of growth. The hectic exploration activity in the shale gas sector has subdued and PD pumps manufacturers have begun to experience a slump in short term.
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Recent analysis from Frost & Sullivan, 2014 North American PD Pumps Factbook (http://www.frost.com/nce5), finds that the market earned revenues of $2.67 billion in 2014 and estimates this to reach $3.33 billion in 2021 as the oil and global economy stabilizes in the long run.
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“Currently, low oil prices and sluggish growth are affecting the market,” said Frost & Sullivan Industrial Automation & Process Control Senior Analyst Anand Gnanamoorthy. “However, as oil prices and the global economy stabilize the PD pumps market is expected to experience growth in the mid and long term.”
The PD pumps market has assistance from the intensifying focus on regulations and energy efficiency. To comply with the U.S. Food and Drug Administration standards and to meet consumer demands, end users, particularly in the food and beverage industry, continuously invest in new equipment.
Furthermore, end users desiring higher operational excellence are integrating process machinery with central control systems for a unified plant-wide or enterprise-wide control. This effort requires advanced pumping solutions such as smart pumps, asset management and wireless intelligence.
“The revival of the chemicals and power industry has added thrust to the market’s momentum,” noted Gnanamoorthy. “The opening up of end-user industries, along with concerted marketing efforts to improve product awareness, will go a long way in aiding the growth of the PD pump market.”
2014 North American PD Pumps Factbook is part of the Industrial Automation & Process Control (http://www.industrialautomation.frost.com) Growth Partnership Service program. Frost & Sullivan’s related studies include: Emerging Markets: Is Your Strategy In Line With the Ground Reality?, 2014 Global Drives Factbook, North American Micro LNG–Small Scale, Big Impact, and North American Low Voltage (LV) Motors Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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2014 North American PD Pumps Factbook
NCE5-10
Contact:
Jaylon Brinkley
Corporate Communications – North America
P: (210) 247.2481
F: (210) 348.1003
E: jaylon.brinkley@frost.com
SOURCE Frost & Sullivan