We invest and innovate in opportunities to accelerate growth
Flowserve is committed to diversifying the end markets in which we invest extra resources and attention. We’re focusing on emerging markets and regions where there are significant opportunities for accelerated growth — for us and certainly for established businesses and new players who want to leverage our proven fluid motion and control expertise, engineering prowess and global resources.
At the same time, traditional energy sources will remain a critical part of industrial and economic growth for years to come. So, Flowserve will continue our valued partnerships with existing customers in oil and gas, petrochemical, nuclear and other core markets.
Our strategy is based on two important macro trends we see underpinning the energy transition landscape:
- The first is, no matter what the trajectory and magnitude of energy transition, traditional energy sources will be an integral part of the landscape for 10, 20 or 30 or more years.
- The second is the development and adoption of innovative technologies by companies and nations working toward that transition to cleaner, more efficient, energy sources which can enable the world to decarbonize and operate more efficiently.
Supporting conventional customers
Flowserve is a trusted partner with our existing customers. We will continue to invest in our people, our products and our capabilities to serve them as they evolve their businesses in ways which minimize emissions, reduce costs, and enhance profitability.
We believe our customers in the oil and gas, petrochemical and nuclear sectors will continue as leaders in their respective industries. Our foundation and strategy start with this collective core market. We will serve our existing customers; they can continue to rely on us for their needs in existing energy infrastructure. And we can help them minimize emissions, reduce costs and increase profitability.
Encouraging emerging markets
We view the energy transition that’s well underway along with other developments around the globe as opportunities for accelerated growth on top of these core markets. To support existing and new customers, we are investing extra resources and attention in the following areas.
Growing with water and specialty chemical partners
Water and specialty chemical industries show above-market growth. That’s occurring because investments in water infrastructure are priorities for just about every country. Likewise, specialty chemicals are benefiting from tremendous demand in everything from medical products and textiles to electric vehicles.
Flowserve also has identified two important product areas for growth: vacuum pumps and seals. We can build on the strong heritage of our SIHI® vacuum pumps and not only grow in markets we serve today, but also into new industries such as semiconductors and thin-film manufacturing.
While our seal business is robust and we’re a trusted partner in many end markets, there are opportunities to go beyond where we’ve been successful. Compressor dry gas seals is one. So are industrial and mining applications. Companies in all three areas can leverage our flow control portfolio even more to accomplish their energy transition objectives.
Transforming from manufacturing in India to serving India
Our diversification strategy extends to the entire nation of India. We believe India has some particular characteristics which warrant attention and investments, such as its large population, educated workforce and growing economy.
Flowserve has built a significant presence in India, so much so that our associates there touch nearly every part of our product portfolio. India’s importance to Flowserve as a base from which we can serve the rest of the world will expand in the years ahead.
We also see India as its own opportunity. So diversification means that Flowserve must identify and pursue new ways to support the country’s drive to expand desalination and provide clean water to every household. There also are demands to produce more clean water for expanding petrochemical, agricultural and general industrial applications. And meeting India’s ever-increasing needs for energy will lead energy companies — and Flowserve as their partner — to develop and scale cleaner solutions from green hydrogen and biofuels, to concentrated solar power (CSP) and carbon capture and underground storage (CCUS).
Flowserve was awarded a contract to provide pumps to TMGcore, Inc., a Texas-based leading provider of high-performance computing solutions specializing in liquid immersion cooling technology in a partnership as a step forward in our market diversification.Read the Press Release
Flowserve will supply its vertical turbine pumps to McMillen Jacobs Associates for its design, engineering and construction services on the West Kauai Energy Project (WKEP) – a comprehensive, integrated renewable energy and irrigation project which will help the state of Hawaii.Read the Press Release
Achieving energy transition objectives cost-effectively
Today’s energy transition requires a unique balance of driving carbon reduction while also meeting the world’s growing energy demands. To do both will require the development and adoption of cleaner, safer and more reliable sources of energy.
Flowserve recognizes the need to accelerate energy transition initiatives quickly and cost-effectively. Our unrivaled combination of technical expertise and practical application can help companies across industries transition to cleaner, renewable energy sources and more sustainable industrial processes.
Our overall strategy is built first and foremost on our heritage as a great flow control company serving dynamic and demanding end markets. As you shift toward cleaner forms of energy and to reduce your carbon emissions, Flowserve is uniquely positioned to support your initiatives today and into the future.
We can enable your organization to tackle climate change and address increasing energy demands through our comprehensive portfolio of innovative flow control solutions.