In North America, hydronic heating systems are increasingly being installed in new buildings, which is likely to positively impact the sale of circulator pumps. As the energy prices continue to increase, people prefer hydronic-heating systems due to its low energy costs.
Frost & Sullivan finds that North American HVAC Circulator Pumps Market earned revenues of $144.2 million in 2004 and estimates this to reach $174.3 million in 2011.
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“The major driver of the revenues of the HVAC circulator pumps market is the robust building construction activity,” notes Frost & Sullivan Research Analyst Alok Tiku.
In a mature and price competitive circulator pump market, manufacturers are challenged to improve production methods to minimize manufacturing costs in order to reduce price.
“To be competitive, circulator pump manufacturers have to reduce overhead and production costs to a minimum in order to offer low prices,” explains Tiku. “Lean manufacturing is revolutionizing the circulator pump industry and manufacturers are seeking competitive advantages by reducing production costs and reflecting it in the price.
In the effort to gain a competitive edge in the market, manufacturers need to adopt lean stringent manufacturing procedures while maximizing raw material utilization by minimizing the level of defective parts and other discrepancies within the production area.
The mature state of the North American HVAC Circulator Pumps market is likely to see a need for manufacturers to diversify their product offerings in order to survive. Circulator pump manufacturers are faced with the challenge to identify the needs of other market segments and produce a line of products to satisfy those requirements. As a result of producing different types of circulator pumps and accessories, manufacturers can fulfill the needs of many market segments and maintain production levels.
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North American HVAC Circulator Pumps