Positive Displacement Pumps Market To Benefit From Escalating Demand For Energy In Southeast Asia, Says Frost & Sullivan
SINGAPORE, March 7, 2013 /PRNewswire/ -- The superior performance standards of positive displacement (PD) pumps have made them the most preferred pumps for several industries. The demand for advanced versions of PD pumps will increase as more end users across the Southeast Asia (SEA) and Australia and New Zealand (ANZ) region start automating their plants.
New analysis from Frost & Sullivan ( http://www.industrialautomation.frost.com), Southeast Asia and ANZ PD Pumps Markets, finds that the market generated $624.0 million in 2011 and estimates this to reach $800.0 million in 2017.
The spiraling demand for energy and other resources in SEA is promoting the PD market. Expanding population in countries such as Indonesia and Malaysia will highlight the need for more resources (oil, chemical and petrochemicals, water, and food and beverage) and for infrastructure development.
"All these industries are major users of pumps," remarked Frost & Sullivan Industrial Automation and Process Control Research Analyst Krishnan Ramanathan. "Further, it is estimated that the SEA and Asia-Pacific region will register a 2.4 percent yearly increase in energy demand until 2030 – above the projected global average – pushing the uptake of PD pumps by the oil and gas industry."Pumps are indispensible for industrial development with inherent benefits including project cost reduction, improved accuracy, and lower noise interference. Despite these advantages, high initial installation costs are deterring end users from investing in PDs. The effect of this restraint will remain high during the short- and medium-term. "Investments in newer technologies and research on emerging applications will reduce the impact of such high initial costs and capital investments over the long-term," elaborated Ramanathan. "In other words, PD pumps will gain acceptance in newer industries, but this will take time."
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