Top stories




HR & Management90-day countdown for unfair labour claims: Court stops endless disputes
Bradley Workman-Davies 1 day


More news




Logistics & Transport
SA freight rail opens to private operators










“As technology steers the market toward predictive maintenance and diagnostics, manufacturers should tap into a growing demand for efficient, automated, smart pumps that are environment-friendly and can seamlessly integrate with smart grids and the internet of things,” said Frost & Sullivan Industrial Automation & Process Control industry analyst Arun Prasath.
Analysis of the Global Centrifugal Pumps Market, Forecast to 2023, part of Frost & Sullivan’s Industrial Automation & Process Control Growth Partnership subscription, finds that global centrifugal pumps' market revenue is expected to grow at a compound annual growth rate of 2.5% and reach $28.57bn by 2023. The research analysis covers key areas like drivers, restraints and competitors, with market share and revenue by end-user industry and product type. A detailed regional breakdown, covering North America, Latin America, Europe, the Middle East and Africa, and Asia-Pacific, has been provided.
In 2016, the top seven participants accounted for 26.1% of global revenues. Manufacturers such as Flowserve, Sulzer, KSB, Grundfos Holding A/S, ITT, Weir Group, and Xylem Inc. compete on price, technical capabilities, reliability and aftersales support services.
“Existing market conditions have had a negative impact on the centrifugal pumps market. Pump manufacturers should diversify their product segments and shift their focus towards end users with higher growth opportunities, such as the chemical process and water and waste sectors,” said Prasath.