(1888PressRelease)
May 16, 2006 - New York, May 14, 2006— Rising energy prices are positively affecting the pumps market as pumps used in coal-fired power plants have reached levels unseen in decades. According to Pumps and Pumping Equipment in the U.S., a new report from market research publisher Specialists in Business Information (SBI), projected sales of pumps and pumping equipment are expected to increase by a CAGR of 5.9% over the five-year period, 2006-2010, to reach $10.9 billion.
Additionally, alternative power sources, such as hydroelectric projects, ethanol, and LNG plants, require large investments in pumps—factors which also contributed to the market’s 4.5% growth over 2004 and helped 2005 sales reach $8.1 billion.
Fluid power pumps, a success story of its own within the market, have overtaken centrifugal pumps as the largest category, increasing 57.5%, from $1.4 billion in 2002 to $2.2 billion in 2005. Fluid pumps growth has been bolstered by heavy demand in the aviation and construction industries.
At the same time, increased oil exploration and extraction activities are having a direct impact on the shipments of oil well and oil field pumps, which are experiencing a market revival.
“Across the board, the energy industry is fueling significant growth in the need for pumps and additional pumping equipment” notes Cara Morrison, the Associate Editor of SBI. “Consequently, environmental concerns are creating a renewed focus on pumping materials, and we expect that the use of alternatives to metal, particularly plastics, will increase across a wide range of industries and applications.”
Containing comprehensive data on U.S. shipments, imports and exports, end-use markets, and the competitive environment, Pumps and Pumping Equipment in the U.S. identifies key issues, regulations, and trends affecting the marketplace, profiles major marketers, and features manufacturer and retailer strategies used to maximize growth and profitability of a wide variety of pumps including vacuum, industrial, oil well and oil field, fluid power, and centrifugal pumps. Priced at $3,000, this report can be purchased directly from SBI by clicking: http://www.sbireports.com/product/display.asp?productid=1209588 . It is also available at MarketResearch.com.
About Specialists in Business Information
Specialists in Business Information (SBI), a division of MarketResearch.com, publishes research reports in the industrial, construction, materials, and consumer goods markets. For more information visit http://www.sbireports.com, or contact Tom Ehart at 240-747-3014, or tehart ( @ ) marketresearch dot com.
###
