See more of our State of the Industry 2016 coverage.Pumps & Systems staff spoke with Oakley Roberts, product management and global sales leader for ARO, about the current state of the industry and what we should watch for in the coming year.
Q. What do you foresee are the challenges facing the pump industry for 2016?
A. There are several challenges for the pump industry in 2016, and in such a highly fragmented industry, the challenges will depend on applications and geographies served. One major headwind will be managing significantly reduced demand from oil and gas applications and adjacent industries. China will be a slow growth market, and North America is uncertain after a softer market in 2015.
Q. What are some ways that businesses will be able to thrive during 2016?
A. Businesses can thrive in 2016 by increasing their penetration into higher-growth market segments like construction, water/wastewater and vehicle production. Customers are becoming more reliant than ever on pump manufacturers and distribution to provide pump selection and troubleshooting services. Those businesses adding value to customers with their expert knowledge of pumps and associated applications will fare better than those not able to provide knowledge.
Q. Are there any new technologies you believe will help the business landscape in 2016?
A. The pump industry is served by a wide variety of technologies for niche applications and is generally slow to adopt new technology platforms. However, a migration to smart and connected pump technologies is well under way and will continue to be one leading trends driving innovation. The fluids being pumped are also becoming more complex and engineered, allowing for application-specific innovation.