Innovative Product Development – Key Strategy for Success
Leading players in the power generation pumps market are primarily focusing on new product development.
Gaining competitive advantage and adding more value to the existing product line, companies are developing new products to meet the evolving need of end-users.
Key power generation pump manufacturers include Xylem, Weir Group, Flowserve Corporation, and Sulzer Ltd.
Offering new technologies and systems to boost performance, enhancing the reliability of power generation pumps continues to be a key strategy for leading players in the power generation pumps market.
For instance, Sulzer Ltd. has launched BLUE BOX, an advanced remote analytics platform providing operational improvement and increasing efficiency and performance of pumps and pipelines.
Power Generation Pumps Market Growth Driven by Growing Energy Requirements
According to the International Energy Agency, the energy demand globally rose by 2.1% in 2017, which was twice the previous year’s rate.
Oil, natural gas, and coal met 70% of global energy demand, while renewable energy accounted for the rest.
With the development of new power plants to meet the ever-increasing demand for energy, the focus on energy efficiency has increased.
On account of process optimization to reduce energy consumption, the demand for power generation pumps offering efficiency is expected to grow.
Manufacturers across the globe are focusing on deploying cost-effective solutions, and this is resulting into new pump design, along with growing focus on research and development.
Controlling the excess flow of energy translating into increased operating cost is the key focus area of manufacturers.
Power generation pumps with frequency control that adjusts pump’s performance to the current needs are also gaining traction.
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Rise in Replacements/Retrofits in Power Plants to Create Opportunities for Power Generation Pumps Manufacturers
Power plants are moving towards replacements or retrofit in order to minimize the downtime and maximize the performance.
Old power plants operating in various regions are focusing on replacement/retrofit of valves, power generation pumps, and other equipment used in power plants.
The demand for high-performance power generation pumps leading to efficiency of operations and improving power system flexibility is also increasing across the globe.
Stringent regulations on emission levels by governments across various countries is also is resulting in the retrofitting work in old power plants.
The high cost of building new power plants has also influenced manufacturers to focus on upgrading the existing ones.
Governments across the world are focusing on investing in retrofitting old power plants to meet the emission standards.
retrofitting of existing coal power plants is also gaining momentum with introduction of regulations on limiting CO2 emission.
Smart Monitoring Technologies Gaining Traction in Power Generation Pumps Market
Older motors and power generation pumps are resulting in increased risk of unplanned outage along with the higher cost to keep them running.
Hence, to ensure safe power plant operations, adoption of advanced monitoring technologies is gaining ground. It is highly likely that demand for pumps that are equipped with sensors is likely to grow in the near future.
Sensor technologies are also becoming popular, supporting the process of automatically monitoring the power generation pumps.
The pumps outfitted with multiple sensors to measure voltage, current, vibration, pressure, and temperature are being developed and designed.
Capable of detecting early problems, preventing forced outrages and minimizing pump failures, wireless sensors are being integrated into pumps to monitor vibration, cavitation, and seals.
In the last few years, equipment monitoring devices operating on wireless networks have gained popularity in the power generation pumps market.
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High Installation and Maintenance Cost of Power Generation Pumps to Remain Biggest Challenge
The cost of installing power generation pumps has increased in recent years. Considering current design practices, the life-cycle cost of the pump including cost of installation, operation, and maintenance has also increased.
Moreover, power generation pumps used for primary application in the power plants need more maintenance.
To ensure reliability and optimum efficiency, the components of both positive displacement pumps and centrifugal pumps used in the power generation require timely inspection, service, and replacement if necessary.
This is leading to the high maintenance cost of power generation pumps.
Many manufacturers in the power generation pumps market have started providing kits to repair the pumps and schedule maintenance.
However, the use of counterfeit parts has also increased, leading to the system downtime and damage, resulting in more cost and even replacing the entire pump..
The report on the power generation pumps market provides insights on all the leading players in the market.
The report offers a dashboard view of the key companies in the power generation pumps market along with the SWOT analysis.
Information on the latest developments, new product launches, market share, and business strategies of the companies operating in the power generation pumps market is provided in the report.
Majority of the companies in the power generation pumps market are focusing on new product launches with advanced features providing efficiency and high performance.
The companies are also introducing products to meet the emission standards and integrating new technologies to increase efficiency and offer reliability.
KSB Group acquired Dubric Industries Inc., a US pump service and sales company. The acquisition has expanded KBS’s service network in the US Midwest. The new company operates under the name KBS Dubric Inc.
KBS also launched a new Internet of Things (IoT) system for pumps. The system known as KBS Guard uses temperature sensors and networked vibration directly fitted to pump.
This increases process transparency, and operators are provided with process data on an hourly basis.
Gardner Denver, Inc. has acquired DV Systems as the part of its industrials segment.
The acquisition will provide access to the Canadian market and leveraging the company’s R&D and operational capabilities, and distribution network.
An Adaptive Approach to Modern-day Research Needs
The power generation pumps are used to generate power from different sources of energy including oil, gas, coal, nuclear power, etc.
About the Report
The report on the power generation pumps market offers forecast and key insights on the market.
The report also provides data and information on all the major factors playing an important role in the growth of the power generation pumps market.
The study also includes market dynamics like the key trends, challenges, opportunities, and drivers.
The main objective of the report on the power generation pumps market is to provide exclusive information on the power generation pumps market, enabling the key players as well as new entrants to plan business strategies.
Information on the growth opportunities in the power generation pumps market is also included in the report.
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The report on the power generation pumps market provides an in-depth analysis of the market based on key segments.
The power generation pumps market is segmented on the basis of capacity, product type, and power type. The market is further bifurcated into sub-segments.
Based on the capacity, the power generation pumps market is segmented into Small (up to 500 gpm), Medium (500-1000 gpm), and High (Above 1000 gpm).
On the basis of product type, the market segment includes centrifugal pumps, reciprocating pumps, and rotary pumps.
Based on the power type, the power generation pumps market is segmented into Coal/Oil, Combined Cycle Gas, Hydroelectric, and Nuclear.
Additional Questions Answered
- The report on the power generation pumps market also provides answers to some of the important questions.
- Which region is expected to be most lucrative in the power generation pumps market?
- Which product will account for the largest market share in the power generation pumps market?
- What will be the volume share of nuclear power in the power generation pumps market?
- What will be the revenue share of Western Europe in the power generation pumps market?
The forecast and valuable and actionable insights provided in the power generation pumps market report are based on the exclusive research methodology.
Primary and secondary research was done to provide accurate and reliable information and data on the power generation pumps market.
The essential information on the power generation pumps market has been obtained by conducting interviews with the industry experts and from various valid data sources.
The information and data collected was also cross-checked with various valid sources. Key insights on the power generation pumps market is offered with the aim help clients to plan their business strategies.
Power Generation Pumps Market Report Scope
The report on the power generation pumps market provide forecast and analysis of the market based on the exclusive research methodology.
The latest report published by Fact.MR on power generation pumps market also offers key insights and important factors affecting the market growth.
The insights provided in the report offer accurate, and precise analysis of the power generation pumps market. The report also focuses on all the key factors shaping the overall power generation pumps market growth.
Chapter 1- Executive Summary
This chapter includes market overview, opportunity assessment and analysis of the power generation pumps market.
Chapter 2- Power Generation Pumps Market Introduction
This chapter provides product specific definition of power generation pumps along with the market Taxonomy. A brief introduction on power generation pumps market is also included in the chapter.
Chapter 3- Market Dynamics
This section of the report focuses on the market dynamics including drivers, challenges, trends, and growth opportunities in the power generation pumps market.
Chapter 4- Associated Industry Assessment
This chapter in the report offers market overview along with the analysis and forecast of the global pumps market. The report also provides market attractiveness analysis.
Chapter 5- Key Indicator Assessment
This chapter of the report offers information on supply chain analysis of power generation pumps manufacturers, suppliers, and distributors. Cost structure along with the macro-economic factors are also included in the chapter.
Chapter 6- Power Generation Pumps Market Analysis and Forecast
This chapter in the report provide information on the key segments in the power generation pumps market. The market is segmented into capacity, product type, and power type.
These key segments are further divided into the sub-segments to offer better understanding of the power generation pumps market. Important numbers on each segments are provided in form of value, volume, CAGR, and year-on-year growth.
Chapter 7- North America Power Generation Pumps Market Analysis
This chapter focuses on the current scenario of the power generation pumps market in North America. The chapter also offers country-wise analysis of the power generation pumps market in the region. BPS analysis and year-on-year growth of the market is also included in the chapter.
Chapter 8- Latin America Power Generation Pumps Market Analysis
This chapter offers market outlook in Latin America. Volume and value analysis and forecast of the power generation pumps market in Latin America is also provided in the report.
Chapter 9- Power Generation Pumps Market in Western Europe
The chapter in the report provides key insights on the growth opportunities and challenges in the power generation pumps market in Western Europe. The chapter also includes market share and BPS analysis based on the key countries in the region.
Chapter 10- Power Generation Pumps Market in Eastern Europe
This chapter of the report provide details on the important factors impacting the growth of the power generation market in Eastern Europe. Country-wise analysis of the power generation pumps market in the Eastern Europe is also included in the chapter.
Chapter 11- APAC Power Generation Pumps Market Analysis
This section of the report focuses on the key trends and drivers in the power generation pumps market in APAC region.
The report also provides important information and data on the region based on the key countries. Value and volume analysis is also included in this chapter.
Chapter 12- MEA Power Generation Pumps Market Analysis
This chapter in the report provides valuable insights on the power generation pumps market in MEA.
The growth in the power generation pumps market in MEA based on the current market scenario in various countries in the region is also included in the report.
Chapter 13- Competitive Assessment
This section of the report includes power generation pumps market structure along with the dashboard view of the key players in the market.
The chapter also provides details on the revenue share of each player in the power generation pumps market.
Chapter 14- Company Profiles
This chapter offers detailed profiles of the leading companies in the power generation pumps market.
The information provided in the chapter on the major players include production, sales footprint, key financials, key strategies, and SWOT analysis of the players in the power generation pumps market.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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