Pumps Market “Growth Prospects on Pumps Market to 2017 Are Expected to be Weak”
Despite the recent re–industrialisation forecasts for the US, pump manufacturers expect a market stalemate: The global US $ 42 billion pumps market will experience only little growth up to 2017, a new report says...
“Growth prospects to 2017 are expected to be weak owing to the impact of indebtedness in the US, Western Europe and Japan, coupled with a slowdown in the Chinese growth rate” says Guy Van Doorslaer, Secretary General of Europump, the European association of pump manufacturers. “This is just one insight from the report which features many more on the world pump market. EIF produces an updated report every year, providing a very detailed picture of the pump industry and its markets.”
The latest annual EIF World Pump Market Report was presented by Vivian Woodward of European Industrial Forecasting (EIF) at the Europump Marketing Commission meeting in Thimister, Belgium, on 16 November 2012. Europump members learned that the market size for complete pumps (i.e. excluding pump parts) amounts to around US $ 42 billion in 2012 (at current prices & 2010 exchange rates), with US $ 11.5 billion in Europe, US $ 4.9 billion in Africa/Middle East, US $ 17.3 billion in Asia and US $ 8.3 billion in America. Market growth, however, is fastest in Africa & the Middle East at 8.1% p.a. to 2017, compared with 5.1% in America, 4.5% in Europe and 6.2% in Asia.