For the first time the Danish pump group Grundfos can boast of being market leader in the pump market, where the global sales in 2006 reached DKK 196.4 billion.
It is the German industrial organization VDMA, which each year examines the market for pumps and pumping systems, which ranks Grundfos as market leader, the newspaper Jyllands-Posten wrote.
»We have always said that we are number two or three, but now we are number one. This proves that we do a lot of things in the right way, and one of the things is our globalization of the sales activities,« CEO Søren Ø. Sørensen told the newspaper.
The market for the sales of industrial pumps is divided among many small players where the customers have many manufacturers to choose from.
Grundfos has a global market share of 7.9 per cent, ITT Fluid from USA has a market share of 7.6 per cent, and German KSB is number three with a market share of 5 per cent.
The eight largest pump groups account for 38.6 per cent of the global market while a large number of small companies account for the remaining 61.4 per cent of the global market.
This is a good starting point for acquisitions and expansion, and in the years 2004-2006 Grundfos has expanded by 10 per cent to 43 sales companies, the newspaper wrote.
Grundfos’ target was a turnover of DKK 15 billion in 2007, but already in 2006 Grundfos reached a turnover of DKK 15.4 billion and consequently the objective is now sales of DKK 20 billion by 2010, Jyllands-Posten wrote.
Danish Grundfos the world’s largest pump group
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