Sales of vacuum pumps and compressors on the up
A
Frost and Sullivan product story
Edited by the Engineeringtalk editorial team
Dec 5, 2001
With rising concern over skyrocketing energy prices and diminishing fuel supplies, sales of vacuum pumps and compressors will experience a substantial increase, says a report
With rising concern over skyrocketing energy prices and diminishing fuel supplies, multinational agencies are turning to natural gas extraction.
As a result, sales of vacuum pumps and compressors will experience a substantial increase.
New analysis from Frost and Sullivan, World Compressor and Vacuum Pumps Markets, reveals that this industry generated $5.66 billion in 2000 and projects revenues to increase steadily to $8.18 billion by 2007.
"The most important opportunities for compressor manufacturers may be in the natural gas extraction and transportation applications," says Frost and Sullivan Research Analyst Pierre Marchebout-Urrea.
"Even before the power generation crisis in the United States began, the most important projections showed a constant increase in the demand for this important combustible." The majority of new power plants built in the last decade are powered by natural gas.
Many North American and Asian nations are keenly aware of the increases in gas prices and the long-term demand for this vital energy commodity.
"The first decade of 2000 could see large increases in the infrastructure for extraction, processing, and transportation of natural gas worldwide," says Marchebout-Urrea.
The energy required to pump fuels through pipelines is generated with gas compressors.
Additionally, the equipment necessary to transport and process gas also requires the energy generated by compressors.
The increase of compressor utilisation by all the processes involved in generating electricity are likely to substantially boost demand within this sector.
"The most important end users of compressors and vacuum pumps are prone to cyclical swings and to some degree this trend is replicated in the compressors markets," says Marchebout-Urrea.
"However, the economic deceleration combined with rising energy prices could be a supporting factor for major technological enhancements that focus on the development of energy efficient compressors and vacuum pumps." "It could also be an important market stimulator for replacement of inefficient units and systems," adds Marchebout-Urrea.
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