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(Transportation-News.com, March 22, 2018 ) Publisher’s market research analyst predicts the global heavy-duty pumps market to grow steadily at a CAGR of around 4% by 2021. One of the primary drivers for this market is the rapid expansion of crude oil pipelines in several regions across the globe. Pump stations are used for oil pumping operations, through pipelines, from one point to the other. These stations consist of components such as an electrical substation with electric motors facilitated by connecting pipes and valves and electrical equipment storage room. Also, pipelines are the safest and the most efficient mode to transport petroleum products. They can cover long distances on land, underground, or undersea. This mode is much safer and does not attract any environmental concerns. Also, it has been observed that the transportation of petroleum products through trucks and railcars significantly increases the number of vehicles on roads and air pollution. To curtail this rise in air pollution, crude oil pipelines are extremely helpful. This advantage coupled with the rise in the increasing consumption of crude oil is expected to propel the growth of the global heavy-duty pumps market during the forecast period.
One of the latest trends gaining traction in this market is the rise in the adoption of smart pumps. The next-generation automation will facilitate each component of a pumping system to have an internet protocol (IP) address. Also, this will enable effective communication via embedded intelligence. All the components, including the pump, pipes, control valves, the control system, and other instruments will be able to interact in the real-time, enabling overall optimized productivity. These enhancements in technology are expected to fuel the growth of the global heavy-duty pumps market in the coming years.
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Competitive landscape and key vendors
The global heavy-duty pumps market is highly fragmented due to the presence of many small and medium-sized enterprises in developing countries such as India and China. These countries are supposed to be the most prominent markets for this industry. A majority of the vendors are competing in terms of factors such as quality, service, and repair and also new product launches such as pond pumps.
Leading vendors in the market are –
Flowserve
Grundfos
ITT
KSB
Sulzer
Other prominent vendors in the heavy-duty pumps market include ALFA LAVAL, Baker Hughes, EBARA, Gardner Denver, General Electric, Ingersoll-Rand, Metso, and The Weir Group.
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Segmentation by type and analysis of the Heavy-duty Pumps market
Processing industry
Oil and gas industry
During 2016, the processing industry dominated the pond pumps market and accounted for a major part of the overall market share. The exponential rise of the chemical sector in the developing nations is the primary factor responsible for the growth of this segment in the heavy-duty pumps market.
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