Much like any market segment in the PHCP industry, the outlook for pump products continues to evolve — especially given the past year’s challenges with the COVID-19 pandemic.
“By most measurements, the market is growing because our economy is gradually recovering from last year’s trauma, no thanks to COVID-19,” says Mark Chaffee, vice president of governmental affairs and commercial and industrial product management for Taco Comfort Solutions. “Growth of the pump market — part of our steady but slow economic recovery — will however have substantial regional and industry segment variances. New commercial office space construction is one of those areas where the dramatic shifts in how and where we now work will have a long-term effect.