Pumps & Systems
Aftermarket Business in 2007 and 2008
In general, Hydro enjoyed a strong year, and we are projecting continued growth in 2008. We believe that our mission to provide equipment quality and reliability is resonating with our clients and potential clients more so today than ever before.
A critical issue facing end users is the tremendous worldwide demand for new pumps. This exceptional demand has shifted the industry focus to a new unit supply with the result that aftermarket support may have declined in some areas. On the other hand, this creates an opportunity for our company since our focus is the aftermarket.
Key issues for the pump industry are the continued shortage of skilled labor as well as long lead times for cast parts. These are likely to remain concerns for the foreseeable future and will need to be addressed in innovative ways by each company.
As the industries served continue to consolidate, management is increasingly giving more attention to “best in class” equipment performance as a way to realize reliability and profit improvements.