Industrial Pump Market to Exceed $48 Billion By 2019
The sales of industrial pumps will exceed $48 billion in 2019. This is the latest prediction of the McIlvaine Company in Pumps World Market.
East Asia will account for 37 percent of the total market. NAFTA will be a distant second with sales of less than $9 billion. The rapidly growing market in Asia is shaped by a number of factors.
- Investment in coal to liquids and coal to syngas projects: China is building both direct liquefaction and indirect liquefaction plants. End products are fuels and chemicals. Each plant has many pumps to move water, products and treatment chemicals. Korea and Australia are also pursing these projects to convert coal to liquids and gases including LNG. Pump requirements are challenging due to the pressures and cryogenic temperatures.
- Coal-fired power plants: East Asia is moving forward with coal-fired power plants. China already consumes 3.3 billion tons of coal per year but is targeting 4.8 billion tons. Pumps are used for intake water, cooling, boiler feedwater, flue gas desulfurization and wastewater treatment
- Municipal drinking water and wastewater treatment: The migration of East Asians to cities and the infrastructure to meet their needs is ongoing.
- Continuing growth in production of chemicals, pharmaceuticals, foods, dairy products and fish: China has the largest aquaculture industry in the world. In fact, fish production equals that of the ROW combined.
- Mining: China is a leader in iron ore production as well as coal.
Picture: McIlvaine Company
Source: The McIlvaine Company