Industrial pump sales forecasted at more than $38 billion in 2013November 07, 2012
Industrial pump sales will reach $38 billion next year, according to recent forecasts published by the McIlvaine Company.
According to their report, 32 percent of the market in 2012 will be in East Asia, and China will spend more for power plant pumps than the rest of the world combined.
The report forecasts that China will be the leading buyer of pumps for municipal drinking water and municipal wastewater. The country's migration of hundreds of millions of people from rural areas to cities has created the need for infrastructure investment.
The NAFTA pump market next hear to just under $8 billion, boosted by the investment in oil and gas. Pumps for hydrofracturing of shale are in short supply. The significant expenditures in Pennsylvania are being exceeded by those in North Dakota and adjacent states which are able to extract oil from shale, according to the report.
You can read more of the McIlvaine forecast here.