Power Generation Pumps Market Investigation and Growth Forecasted Until the End of 2028

Posted on 2019-10-07 by Mark Hub in Industrial // 0 Comments

The power generation pumps market is likely to witness steady growth, with global demand expected to exceed 4 million 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.

Demand for centrifugal pumps is expected to increase in the Asia Pacific region, especially in China, India, and Japan. Rising demand for power supply and favorable government policies are driving the demand for power generation pumps.

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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 1.4 million 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.

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.

APAC to Dominate Power Generation Pumps Market

APAC is witnessing an increase in demand for power and electricity. With new government regulations and emission standards, countries in APAC region are switching to cleaner source of energy. Adoption of renewable sources of energy for power generation has increased in recent years.

With the increasing demand for power from various industries, the demand for power generation pumps in APAC region is expected to surpass 2 million units by the end of 2018. According to the report, various countries in the region have upgraded policy framework, increased regional co-operation, and are moving towards renewable energy resources along with the increasing investments.

Growing investments in infrastructure and development of new industries, energy demand in the Southeast Asian countries is set to grow strongly. According to the IEA’s Southeast Asia Energy Outlook 2017, increasing energy needs is resulting in the rise in consumption of fuels. Coal accounts for nearly 40% of the growth, whereas demand for natural gas is also likely to grow by around 60% by 2040. Hence, new power plant construction is also expected in the region, thereby driving power generation pumps market growth.

As per the study, in order to meet the electricity demand, installed power generation capacity is expected to rise to more than 565 GW in 2040. Also, renewables are expected to account for largest share in installed capacity by 2040. Thereby, driving the demand in the power generation pumps market.

According to the Fact.MR report, power generation pumps with small capacity of up to 500 gpm are likely to witness highest growth in the coming years. The demand for smaller power generation pumps is increasing due to low cost and have smaller motors, resulting in less power consumption.

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.

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Moreover, power generation pumps used for primary application in the power plants need more maintenance. To ensure reliability and optimum efficiency, the components of both positive displacement pumps and centrifugal pumps used in the power generation require timely inspection, service, and replacement if necessary. This is leading to the high maintenance cost of power generation pumps.

Many manufacturers in the power generation pumps market have started providing kits to repair the pumps and schedule maintenance. However, the use of counterfeit parts has also increased, leading to the system downtime and damage, resulting in more cost and even replacing the entire pump.

Competition Landscape

The report on the power generation pumps market provides insights on all the leading players in the market. The report offers a dashboard view of the key companies in the power generation pumps market along with the SWOT analysis. Information on the latest developments, new product launches, market share, and business strategies of the companies operating in the power generation pumps market is provided in the report.

Majority of the companies in the power generation pumps market are focusing on new product launches with advanced features providing efficiency and high performance. The companies are also introducing products to meet the emission standards and integrating new technologies to increase efficiency and offer reliability.

KSB Group acquired Dubric Industries Inc., a US pump service and sales company. The acquisition has expanded KBS’s service network in the US Midwest. The new company operates under the name KBS Dubric Inc.

KBS also launched a new Internet of Things (IoT) system for pumps. The system known as KBS Guard uses temperature sensors and networked vibration directly fitted to pump. This increases process transparency, and operators are provided with process data on an hourly basis.

Gardner Denver, Inc. has acquired DV Systems as the part of its industrials segment. The acquisition will provide access to the Canadian market and leveraging the company’s R&D and operational capabilities, and distribution network.

Market Structure

The report on the power generation pumps market provides an in-depth analysis of the market based on key segments. The power generation pumps market is segmented on the basis of capacity, product type, and power type. The market is further bifurcated into sub-segments.

Based on the capacity, the power generation pumps market is segmented into Small (up to 500 gpm), Medium (500-1000 gpm), and High (Above 1000 gpm). On the basis of product type, the market segment includes centrifugal pumps, reciprocating pumps, and rotary pumps.

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Based on the power type, the power generation pumps market is segmented into Coal/Oil, Combined Cycle Gas, Hydroelectric, and Nuclear.

Research Methodology

The forecast and valuable and actionable insights provided in the power generation pumps market report are based on the exclusive research methodology. Primary and secondary research was done to provide accurate and reliable information and data on the power generation pumps market.

The essential information on the power generation pumps market has been obtained by conducting interviews with the industry experts and from various valid data sources. The information and data collected was also cross-checked with various valid sources. Key insights on the power generation pumps market is offered with the aim help clients to plan their business strategies.

About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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