($ Millions)
World Region 2017
Africa 1,877
CIS 2,241
East Asia 15,176
Eastern Europe 1,305
Middle East 2,579
NAFTA 8,775
South & Central America 2,761
West Asia 3,332
Western Europe 7,482
Total 45,528
The world market for pumps used by industry, municipalities and for irrigation will grow to $45 billion per year in 2017, adding more than $7 billion to current annual sales, according to Pumps: World Markets by the McIlvaine Company.
McIlvaine predicts East Asia will account for more than 33 percent of the market in 2017, with growth in this region driven mostly by new infrastructure and heavy industrial spending. More power plants will be built in this region in the next five years than in the rest of the world combined, according to McIlvaine. Investment in municipal wastewater treatment and drinking water facilities is also expected to outstrip other regions. Because of aridity in much of the region, investment in irrigation pumps is also figured to be substantial.
Growth in NAFTA will be led by the non-conventional oil and gas sector, according to McIlvaine. Pennsylvania, Texas and other states in the West are expected to continue to expand their production of gas and oil from shale, generating substantial investments in pumps. In fact, McIlvaine says pumps to deliver the fracturing water at high pressure to locations 12,000 feet below the surface are already in short supply, as manufacturers struggle to meet a $1 billion per year demand.
Western Europe is expected to be a slow growth market characteritized by a large percentage of replacement pumps and parts for existing plants as compared to pumps for new plants. Eastern Europe will reflect growth in expenditures to meet environmental regulations required for European Union membership.
McIlvaine predicts Middle East expenditures will rise as the region increasingly becomes a supplier of refined rather than raw products. Pump sales in this region are also expected to be boosted by desalination plant investments. There are not only pumps to overcome the high resistance of the reverse-osmosis membranes, but additional pumps to recover the energy in the rejected cross-flowing seawater.
New regulations for ballast water treatment and scrubbing of vessel stack emissions are also expected to help boost pump sales, while expanded production of oil and gas from subsea sources will also require many large and expensive pumps.
For more information on Pumps World Markets, visit www.mcilvainecompany.com/brochures/water.html#N019.
