World Market for Treat, Transport and Test Market Will Exceed $387 Billion By 2015
The world market for air and gas, water and other liquids flow and treatment equipment and services will exceed $387 billion in 2015 up from $367 billion in 2014. This is the latest forecast in Market Air/Gas/Water/Fluid Treatment and Control: World Market published by the McIlvaine Company.
World Treat, Transport Test Market ($ Billions) (Image: McIlvaine)
Large companies such as Ecolab and Colfax have been expanding in the broader flow and treatment market. Xylem is in the market and has segmented their activities into treat, transport and test. McIlvaine has defined this market to include pumps, valves, compressors, liquid and air filtration equipment, biological treatment systems, treatment chemicals and all the related monitoring and control systems to move and purify fluids.
The growth in Asia this year is projected at 6 percent versus only 4 percent in Europe and 5.4 percent worldwide. This is in real dollars. Inflation is presently projected at 3.8 percent this year. The aggregate revenues of the companies participating in this market are anticipated to rise to $402 billion in 2015. Reported revenues are always in current dollars. So, one must take into account inflation to fairly compare the forecasts with the actual results.
In general, this market is growing at 1-2 percent faster than GDP. In part this is due to environmental regulations which add additional stimulus to the treat segment of the market. Another factor is the switch from conventional natural gas and oil to nonconventional recovery. The amount of treat, flow and test investment in a shale oil or shale gas extraction process is considerably greater than extraction from conventional sources.
Source: The McIlvaine Company