In a recent business intelligence study, Fact.MR presents the nitty-gritty of the global power generation pumps market considering 2013-2017 as the historic year and 2018–2028 as the stipulated timeframe. The business report highlights the drivers, restraints, opportunities and trends affecting power generation pumps market growth. Further, all the market shares associated with the market as well as the segments are expressed in terms of value and volume.
The power generation pumps market study outlines the key regions – Latin America, North America, MEA, Europe and APEJ – along with the countries contributing the most in the respective regions. The report presents detailed insights about each market player, including SWOT analysis, main market information, market share, revenue, pricing and gross margin. Prominent players covered in this research are Gardner Denver Inc., Roper Technologies Inc., KSB SE & Co. KGaA, Flowserve Corporation and many others.
The power generation pumps market is likely to witness steady growth, with global demand expected to exceed 4,000,000 units by the end of 2018. The growth in the power generation pumps market is influenced by rising energy demand, especially in the developing regions. Integration of new technologies including sensors to monitor different parameters in the power generation pumps is also on a rise. Providing high flow rate with a capacity of handling large quantities of fluids, centrifugal pumps are widely used in the power generation plants. The demand for centrifugal pumps is likely to be influenced by its various features, such as small size and low costs.
Power Generation Pumps to find Large Application in Coal/Oil Power Plants
The demand for power generation pumps is likely to grow significantly in coal/oil power plants with demand expected to exceed 1,400,000 units by 2018 end. The development of new coal and oil power plants across various countries is driving the power generation pumps market growth. According to the International Energy Agency (IEA), coal generation increased by 3% in 2017 after witnessing a fall in last two years. Substantial growth in coal generation is seen in India and China. Moreover, with the share of around 30%, coal-fired power generation remains the largest source of energy worldwide.
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The power generation pumps market is likely to witness steady growth, the demand for power generation pumps is expected to reach 3.7% CAGR in terms of volume during 2018-2028. Efforts are being made to improve the coal power plants design and power generation pumps to boost efficiency and flexibility of the plants. The coal-fired power plants are deploying efficient supercritical and ultra-supercritical coal power generation technologies. Although Southeast Asia is an important producer of coal, oil, and gas, it is likely to face several challenges in the coming years, owing to the increasing focus on power generation through green energy sources.