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The Pump Market Will Reach a Scale of US$10.9 Billion in Five Years

The Pump Market Will Reach a Scale of US$10.9 Billion in Five Years

According to a report from SBI (Specialists in Business Information), the climbing energy price is making a positive influence on the pump market. They estimated that within a five-year period from 2006 to 2010 the compound annual growth rate (CAGR) of the sales amount of pump and pumping equipment would reach 5.9% and that the sales amount would increase to US$10.9 billion.

The pump quantity for coal-fired power plants has reached an unprecedented level in the last decades. Besides, the substitutes of energy sources, such as hydropower projects, alcohol and LNG plants, need substantial investments in pumps. Such investments have made contributions not only to the growth rate of 4.5% of the pump market in 2004 but also to the sales amount of pump products up to US$8.1 billion in 2005.

So far hydraulic power pumps have exceeded centrifugal pumps to become the biggest branch in pump products. In 2005 the sales amount of hydraulic power pumps increased from US.4 billion in 2002 to US.2 billion, by 57.5%. The expansion of the hydraulic pump market size benefited from huge demand from aviation and building industries.

Moreover, the increasing activities of petroleum extraction and refining have made a direct influence on the shipment quantity of pumps used in oil wells and fields. So to speak, the market of these pumps is reviving.

Cara Morrison, Assistant Editor of SBI, pointed out, "The entire energy source industry now is pushing forward substantial growth of demand for pump products and their auxiliary devices. The consequent focus will be selection of raw materials of pump products. We estimate that alternate materials of metal, especially plastics, will be widely applied in pump products of different industries."

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