, Jan. 25, 2013 /PRNewswire/ -- Even as new construction activity slows across a crisis-hit
, end-user investments in the refurbishment of existing buildings will be the primary driver in the pumps market for commercial and industrial buildings.
New analysis from Frost & Sullivan (
Strategic Analysis of the European Pumps Market for Commercial and Industrial Buildings
, finds that the market earned revenues of
in 2011 and estimates this to reach
in 2016. While the refurbishment segment will drive growth over the short- to medium-term, the projected revival of new building activity will boost the demand for pumps over 2012-2016.
"As end users seek to reduce the environmental impact of existing buildings, the renovation and retrofitting of buildings is expected to grow in the short-term," explained Frost & Sullivan Industrial Automation & Process Control Research Associate Niranjan Paul. "Government incentives in
and Scandinavia, targeting the retrofitting of buildings will promote the demand for pumps in the building refurbishment segment."
Another positive development has been the strict enforcement of regulations pertaining to energy consumption in buildings. Legislation such as the Energy Performance of Buildings Directive has set a target to reduce energy consumption in buildings by 20.0 percent by 2020.
Another directive that is expected to impact the pumps market for commercial and industrial buildings is the Ecodesign Directive for energy related products (ERPs). This directive, which addresses the environmental impact of buildings in terms of the products that are used, is poised to be enforced from 2013 onwards.
"EU legislations, as well as the need to reduce power consumption and increase energy savings will, therefore, underpin the continuing end-user preference for energy-efficient pumps," stated Paul. "European pump manufacturers have to develop innovative, environmentally-friendly products that support energy savings for end users."