Global Pump Market Growing
The global pump market, driven in part by pump use in buildings, is expected to experience a compound annual growth rate (CAGR) of 5 percent between this year and 2020, according to research firm Technavio.
The research points to demand for pumps for building services – with an emphasis on energy efficient pumps – and the growth of solar pumps as key drivers of the sector. The more traditional building segment focuses on single-stage centrifugal and horsepower pump. The horsepower pumps, the press release says, generally are from 0.50 hp to 10 hp. The energy efficient pump segment is being driven by adoption of Leadership in Energy and Environmental Design (LEED) ratings, which includes pumps and fans in its assessments.
Variable speed drive (VSD) pump systems – including a platform from Eaton – are said by experts to cut energy use significantly.
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