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Jun 8, 2020
| Source: Research and Markets This research service covers the global opportunities in 2020 for pump companies in the top 3 end-user industry segments (water and wastewater, food and beverages, and construction). It offers regional analysis of how economic factors will impact the market. Opportunities in all end-user industry applications for pump manufacturers are highlighted, including oil and gas, power generation, chemicals, water and wastewater, construction, food and beverages, metals and mining, and pharmaceuticals. Global economic changes and the impact on end-user industry trends and aftermarket services are detailed as well. Top Predictions for 2020: The outbreak of coronavirus has shaken the global economy, leading to the temporary closure of manufacturing facilities and emergency lockdown. The whole of 2020 is likely to remain gloomy, affecting the investment sentiment until the vaccine development and decline in the number of infected individuals. 2020 began with signs of economic slowdown and the worst hit, with COVID-19, pandemic virus, hurting business sentiment and investor confidence. The price war between the oil-rich nations peaked with Saudi Arabia's announcement of oil price cut by $3 per barrel in March 2020. The oil prices crashed with WTI reaching the lowest ever in the last decade at $20.8 per barrel. Russia and Saudi Arabia's disagreement with OPEC's production cut and prevalence of COVID-19 are likely to result in oil price instability in 2020. Plant maintenance continues to be a key area of focus for end-users, with capital allocation toward asset services and aftermarket needs. Services that include programs enhancing pump reliability and minimizing the scope of unexpected failure will continue to gain traction in 2020 with the settlement of economic conditions. Water and wastewater, chemicals, and O&G are expected to be the main adopters of pump monitoring solutions. Market consolidation through mergers and acquisitions is expected to be a pivotal factor to increase market share and presence of pump OEMs. Several large transactions have been observed in 2019; this includes Ingersoll Rand and Gardner Denver merger, Weir's divestment of flow control division, acquisition of Sundyne by Warburg Pincus investment firm. Owing to market maturity and competition, innovative and strategic perspectives on collaboration and consolidation will be necessary to drive the long-term growth of larger market participants in the high-growth markets. The study outlines the latest trends in terms of industry, economy, and technology across the top 3 industry segments for centrifugal and positive displacement (PD) pumps across the globe. Geographic segmentation includes North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. The study period is 2019 to 2020. The study concludes with a competitive analysis of top pump participants and elaborates on their strengths and weaknesses in 2019. Key Conclusions The year 2020 for the global pumps market is expected to decline with nearly flat market prospects for both new orders and aftermarket services. Asia-Pacific and North America with higher investment activity are likely to be affected where active and new projects are expected to come to standstill. Key end-user industries that include water and wastewater, O&G, and chemical that contributed to 2019 growth in pump revenue are all expected to remain passive due to the prevalence of economic uncertainty in 2020. Pump manufacturers to remain on the quest to redefine their business models and focus on positioning themselves as pumps-as-a-service. This enables pump manufacturers to unlock revenue streams and hold a competitive edge in the market. Key Topics Covered: 3. Global Economic Outlook for 2020 Global Economy in 2019 - Top Trends Covid-19 Global Economic Impact - Visioning Scenarios Global, Advanced, and Emerging Markets Growth Global Economic Outlook 2020 - Top 5 Predictions 2020 World GDP Growth Snapshot Major Economies - Key Predictions for 2020 Covid-19 - Global War Against Virus Impact of Economic Crisis on Manufacturing Landscape 4. Pumps Market Outlook 2020 Overview of the 2020 Pumps Market Landscape Market Revenue of Global Centrifugal Pumps Market Revenue of Global PD Pumps 5. Pump Revenue Forecast Scenarios Market Growth Rate Forecast Scenarios Forecast Scenario Discussion 7. Competitive Outlook Competitive Landscape of Manufacturers - Total Pumps Market 8. Technology Outlook Adoption and Penetration of Technologies Pump Services - Level of Engagement Pump - Key Technology Trends to Watch Role of Cognitive Analytics in the Pumps Market 9. Growth Opportunities and Companies to Action 10. Mega Trends and Industry Convergence Implications 11. Key Conclusions
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