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US demand for fluid handling pumps is projected to increase 4.8 percent per year (including price increases) to $7.4 billion in 2003, prompted by rising construction expenditures on the part of utilities and increasing production levels in key end-use markets (e.g., chemicals and other process industries).

US demand for fluid handling pumps is projected to increase 4.8 percent per year (including price increases) to $7.4 billion in 2003, prompted by rising construction expenditures on the part of utilities and increasing production levels in key end-use markets (e.g., chemicals and other process industries). In addition, demand will benefit from a relatively favorable replacement market. However, growth will decelerate relative to 1993-1998 due to slowing capital investment trends in most process manufacturing markets and continued price competition from overseas producers. These and other trends are presented in Pumps, a new study from The Freedonia Group, Inc., a Cleveland-based industrial market research firm.

Growth in shipments will mirror demand, advancing 4.9 percent annually to $8.3 billion in 2003. Shipments are expected to decelerate from the 1993-1998 pace due to slowing domestic demand. In addition, competition from foreign producers in international markets will limit both unit shipments and price growth. However, these factors will be offset by ongoing industrial development in regions such as Latin America and Eastern Europe, which will boost pump demand as a matter of course. In addition, recovery in Asia from the financial crisis of 1997-1998 will improve the capital investment outlook in that region.

Centrifugal pumps will continue to be the most commonly used, due to their wide pressure and load handling capability - including the ability to handle liquids with a high solids content - and relatively low maintenance costs. Diaphragm pumps are expected to post the best gains of any pump type due to their utilization in the chemical market, where they are frequently used as a result of their safety advantages compared to other pumps. Parts and accessories are expected to post growth because of replacement demand stemming from the harsh environments in which many pumps operate.

Process manufacturing industries will retain the largest share of pump demand, based on the extensive amount of fluid control required in these markets. The chemical and pharmaceutical businesses will continue to comprise about one-half of process industry demand. Utilities are expected to have the best growth opportunities, because of rising levels of construction expenditures in that sector and increasing demand for natural gas. In particular, the electricity generation business offers opportunities due to the ongoing deregulation of the industry. Resource extraction industries and construction are also expected to remain major end-use markets.

Pumps (published 11/99, 221 pages) is available for $3400 from The Freedonia Group, Inc., 767 Beta Drive, Cleveland, OH 44143-2326. For further details, please contact Corinne Gangloff by phone 440.684.9600, fax 646.0484 or e-mail pr@freedoniagroup.com. Full text is also available online through commercial database companies and the www.freedoniagroup.com Web site.

Please attribute information from this news release to The Freedonia Group (Cleveland, OH) and include, if possible, the price of the report. We would also appreciate a copy of the article or publication in which we appear.
COPYRIGHT 1999 Subscription: $00.00 per year as of 1/94. Published irregularly. Contact Freedonia Group, 3570 Warrensville Cente
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999 Gale, Cengage Learning. All rights reserved.

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Comment:US demand for fluid handling pumps is projected to increase 4.8 percent per year (including price increases) to $7.4 billion in 2003, prompted by rising construction expenditures on the part of utilities and increasing production levels in key end-use markets (e.g., chemicals and other process industries).
Publication:Research Studies - Freedonia Group
Geographic Code:1USA
Date:Nov 1, 1999
Words:485
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