The Industrial Internet of Things (IIoT) is a powerful new force shaping the way pumps for gas turbines are purchased. The impact of IIoT is being continually assessed in 59EI Gas Turbine and Reciprocating Engine Supplier Program. The markets for pumps for these plants is analyzed in N019 Pumps World Market. The inventory of existing gas turbine plants is growing at six percent per year and in the next few years the base will grow to two million MW. There are 30,000 individual units which routinely require service, replacement or repair of pumps used for intake water, boiler feedwater, condensate, cooling, turbine inlet water injection, reagent delivery, treatment chemical delivery, lubricant and hydraulic fluid circulation. The market for pump replacement products, repair and services is $1 billion per year and will grow by more than six percent per year. IIoT provides remote delivery of comprehensive information about the operation and health of pumps. This data can be analyzed to identify problems and will create opportunities for the sale of better pumps, pump materials and smarter pumps to replace the existing ones. IIoT is creating new channels to market in contrast to the sale of products directly to a single end user. Click Here For Complete News Release Text
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