Power Generation Pumps Market Likely to Inflict Positive Growth Trends
Posted by Arslan on June 18th, 2019
In order to dissert the market scenario prevailing across the power generation pumps market sector, FactMR has evenly presented a comprehensive power generation pumps market trends analysis to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the power generation pumps market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable.
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. 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 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.
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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.
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.
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About the AuthorArslan
Joined: December 18th, 2017
Articles Posted: 13,297
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