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Engineering Industry Reports and Surveys
News Release from: Frost and Sullivan
Edited by the Engineeringtalk Editorial
Team on 06 March 2007
East fuels European centrifugal pump
market
The European centrifugal pumps markets earned revenues of US $4800 million in 2006 and is projected to reach $5872.7 million in 2013.
The recent accession of several eastern European countries to the EU is the most significant driver in the European centrifugal pumps markets Growth in end-user segments such as municipal water, together with increased investment in infrastructure, will sustain levels of demand
This article was originally published on Engineeringtalk on 9 Aug 2000 at 8.00am (UK)
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Overall, increasing customer focus on quality will support steady long-term market growth and will help to overcome challenges such as competition from low-cost Asian manufacturers, as well as pricing and quality pressures.
Frost and Sullivan finds that the European centrifugal pumps markets earned revenues of US $4800 million in 2006 and estimates this to reach $5872.7 million in 2013.
"Opportunities for new installations of centrifugal pumps will increase as several new EU accession countries from eastern Europe move to comply with EU energy and water directives", notes Frost and Sullivan Research Analyst Varun Ramdas.
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"Moreover, efforts to update existing infrastructure, coupled with growth in the industrial sector, will boost demand levels".
Most parts of western and central Europe are fully compliant with EU directives on water quality and energy efficiency.
Efforts by EU member states from Eastern Europe to comply with these regulations will support long-term revenue growth in the centrifugal pumps markets.
In addition, stringent environmental regulations such as emissions control will promote demand for high-quality products, including centrifugal pumps, in sectors ranging from oil and gas to power generation.
One of the key challenges that manufacturers face is intensifying competition from low-cost Asian manufacturers and the resultant pricing pressures.
Sectors such as water and wastewater and HVAC are price driven, and have been affected by an influx of low-quality products from India and China.
"As most of the pump manufacturers have overlapping product portfolios, the key differentiating factor is price", says Ramdas.
"Companies are under pressure to offer competitive prices, yet they also face quality pressures, with end users demanding higher-quality products at low prices".
Intense competition and a lack of product differentiation are forcing participants to become total solutions providers, thereby augmenting their role as pump suppliers.
In the light of this shift, pump manufacturers should improve their customer service offering and focus on R and D to produce innovative solutions to penetrate the market.
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