Higher efficiency of pumps and compressors encourage cost-conscious customers to adopt expensive equipment
Kuala Lumpur, Malaysia – February 3, 2015 – The Southeast Asian market for pumps, valves and compressors is likely to get a significant boost once the investment deferrals in the oil and gas industry are realized. Continuous investments in power generation, water and wastewater, and food and beverage industries will further to drive demand for the equipment throughout the forecast period.
New analysis from Frost & Sullivan, ASEAN Pumps, Valves and Compressors Factbook (http://www.frost.com/sublib/display-report.do?id=P88C-01-00-00-00&src=PR), finds that the market earned revenues of US$2.75 billion in 2014 and expects this to reach US$3.52 billion in 2019.
“The need for clean water in Southeast Asia is anticipated to augment investments in the water and wastewater segment and thereby, the pumps market,” saidFrost & Sullivan Manufacturing 4.0 Research Analyst Nurrafidah Rashid. “Additionally, a focus on the existing installed base of pumps, valves or compressors will offer replacements sales opportunities to equipment vendors.”
Despite the potential of the Southeast Asian market, multinational vendors are facing intense pricing pressures from local as well as low-cost Chinese vendors. As consumers in this region are traditionally cost sensitive, vendors have to increase awareness regarding the energy-saving capabilities of their products. Consumers’ higher concern for the environment and energy conservation will go a long way in prompting investments in higher-efficiency pumps and compressors.
“Vendors that can deliver a broad range of products with cutting-edge features at competitive prices will be able to make the most of the market opportunities and widen their profit margins,” noted Frost & Sullivan Industrial Automation & Process Control Research Analyst Terrence Loh.
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ASEAN Pumps, Valves and Compressors Factbook is part of the Industrial Automation & Process Control (https://ww3.frost.com/research/industry/industrial-automation-process-control/industrial-automation-process-control) Growth Partnership Service program. Frost & Sullivan’s related studies include: Centrifugal Pumps Market in Building Services in Southeast Asia and Australia & New Zealand, the Indian, North American and Middle Eastern Centrifugal Pump Market, the Southeast Asian Pump Services Market, Pumps in Next-11, the North American Intelligent Pumps Market and Global Pump Trends – The Chemical Industry. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.