Integrated pump services market poised to grow

Frost and Sullivan study finds new technology and staff restrictions will expand use of services

06/26/2013


Integrated solutions in the pump market now involve more than just pumps and valves. They include the automation, logic controllers and drives needed to create a complete pump system. But manufacturers don’t always have the personnel around to service these complex systems, and that’s opened a rapidly-expanding pump services market according to a new study by global consultant Frost & Sullivan.

The analysis of the global pump services market by Frost & Sullivan shows the market is expected to grow more than 30% between now and 2016. Revenues in 2012 topped $13.3 billion and are projected to be more than $17.5 billion by 2016.

“There has been a continuous reduction of in-house manpower across all industries, with end users requiring a stable system with minimum initial outlay and operator intervention,” said Frost & Sullivan’s industrial automation and process control program manager Ashwin Annareddy. “(Value-added services) offer advantages of reduced operating costs, increased asset availability, and minimized maintenance costs.”

The research covers maintenance, repair, and overhaul, installation and commissioning services decommissioning, and value-added services.

Increased pump system complexity results in greater automation, and greater use of integrated systems. “While these integrated solutions offer multiple advantages, they also require personnel with the expertise to operate them,” said Annareddy. “With the design of pumps and systems becoming increasingly complex, service providers are expected to have greater opportunities in the areas of MRO, I&C, and decommissioning. Specialist service providers and distributors are set to continue their dominance.”

The study also found that adopting these kinds of service-based solutions have not kept up with the advances in technology. “This approach is poised to change in the long-term as the end-users realize the importance of these services,” said Annareddy. “Condition monitoring, predictive maintenance, and advanced diagnostics, are fast gaining acceptance and will account for a significant portion of the market.”



No comments
Consulting-Specifying Engineer's Product of the Year (POY) contest is the premier award for new products in the HVAC, fire, electrical, and...
Consulting-Specifying Engineer magazine is dedicated to encouraging and recognizing the most talented young individuals...
The MEP Giants program lists the top mechanical, electrical, plumbing, and fire protection engineering firms in the United States.
High-performance buildings; Building envelope and integration; Electrical, HVAC system integration; Smoke control systems; Using BAS for M&V
Pressure piping systems: Designing with ASME; Lab ventilation; Lighting controls; Reduce energy use with VFDs
Smoke control: Designing for proper ventilation; Smart Grid Standard 201P; Commissioning HVAC systems; Boilers and boiler systems
Case Study Database

Case Study Database

Get more exposure for your case study by uploading it to the Consulting-Specifying Engineer case study database, where end-users can identify relevant solutions and explore what the experts are doing to effectively implement a variety of technology and productivity related projects.

These case studies provide examples of how knowledgeable solution providers have used technology, processes and people to create effective and successful implementations in real-world situations. Case studies can be completed by filling out a simple online form where you can outline the project title, abstract, and full story in 1500 words or less; upload photos, videos and a logo.

Click here to visit the Case Study Database and upload your case study.

Protecting standby generators for mission critical facilities; Selecting energy-efficient transformers; Integrating power monitoring systems; Mitigating harmonics in electrical systems
Commissioning electrical systems in mission critical facilities; Anticipating the Smart Grid; Mitigating arc flash hazards in medium-voltage switchgear; Comparing generator sizing software
Integrating BAS, electrical systems; Electrical system flexibility; Hospital electrical distribution; Electrical system grounding
Cannon Design’s blog is a place for the many voices of the firm to share thoughts and news related to current projects...
As brand protection manager for Eaton’s Electrical Sector, Tom Grace oversees counterfeit awareness...
Amara Rozgus is chief editor and content manager of Consulting-Specifier Engineer magazine.
IEEE power industry experts bring their combined experience in the electrical power industry...
Michael Heinsdorf, P.E., LEED AP, CDT is an Engineering Specification Writer at ARCOM MasterSpec.