Worldwide Analysis on Power Generation Pumps Market Strategies and Forecasts, 2018 to 2032
Added: (Tue Dec 11 2018)
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Key Insights - Power Generation Pumps Market
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.
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.
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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.
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.
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.
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Competition Landscape
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.
Definition
Power generation pumps are used in power plants for various applications. Centrifugal pumps, rotary pumps, and reciprocating pumps are mainly the type of pumps used in power generation process. The power generation pumps are used to generate power from different sources of energy including oil, gas, coal, nuclear power, etc.
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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.
Market Structure
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.
Research Methodology
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.
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