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.
This is the takeaway from a recent Frost and Sullivan report regarding the expected growth of pump, valve and compressor sales throughout the Association of Southeast Asian Nations (ASEAN). The ASEAN group encompasses 10 countries including founding nations Indonesia, Malaysia, Philippines, Singapore, and Thailand.
Frost and Sullivan projects that while the market was worth US $2.75 billion in 2014, they expect this to reach US $3.52 billion in 2019. The growth will be driven in large part by the increased need for clean drinking water in the region and specifically throughout continued increased investments in power generation, water and wastewater, and food and beverage industries.