Industrial journalist, TR Cutler discusses pump market trends in the recent Empowering Pump & Equipment magazine. Cutler interviewed Fran Brunelle, President of Accelerated Manufacturing Brokers. Read the article here.
According to Cutler, pumps have footprints in a wide range of applications including mining, oil & gas, industrial, municipal, and other areas. The global industrial pump market size was valued at USD 62.6 billion in 2019 and is expected to expand at a CAGR of 5.9% over the forecast period. Growing expenditure on infrastructural development is expected to augment the demand for industrial pumps over the next five years. Pumps Market will surpass USD 91 billion by 2025, according to a research report from Global Market Insights.
Adoption of these industrial pumping systems is likely to increase in several end-use industries such as chemicals and petrochemicals due to resistivity towards different hazardous chemicals and durability.
Brunelle shared, “The pump market will grow beyond the predicted 5.9 growth rate in the next 5-10 years. Much of our water supply infrastructure was put in place 75-100 years ago. It was never intended to handle its current volume of approximately 328 million people. The American Society of Civil Engineers estimates that 240,000 water main breaks occur every year, causing 6 billion gallons of water loss. They claim that loss could actually support 15 million households each day. Quality investors look for guaranteed growth opportunities, and this is one of them.”
Empowering Pumps & Equipment is the information and connection hub for the pump and related equipment industries.
About TR Cutler, Inc.
Thomas R. Cutler is the President and CEO of Fort Lauderdale, Florida-based, TR Cutler, Inc., the largest manufacturing communication firm worldwide with four dozen industry experts and thought leaders on staff. Cutler is celebrating the 21-year anniversary of the Manufacturing Media Consortium.
During COVID-19 Cutler is advising manufacturers, industrial leaders, supply chain professionals, and C-level executives how to best navigate Q1 2021 and beyond.
Cutler has authored more than 8,000 articles for a wide range of manufacturing periodicals, industrial publications, and business journals. Cutler is the most published freelance industrial journalist worldwide, and more than 4700 industry leaders follow Cutler on Twitter daily at @ThomasRCutler.
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