Flowserve Corporation is a global manufacturer and service provider specializing in flow control systems. The company was established in 1997 through the merger of two prominent fluid motion and control companies, though its roots trace back to 1790. It serves around 10,000 clients, including engineering, procurement, and construction firms, original equipment manufacturers, distributors, and end-users across various industries.
Flowserve's product portfolio includes pumps, valves, seals, automation, and aftermarket services, catering primarily to the oil and gas, chemical, power generation, and water management sectors. The Flowserve Pumps Division (FPD), the company's largest business segment, offers specialty and highly-engineered custom and pre-configured pumps and pump systems, as well as mechanical seals and related services. These products are essential for operations in key industries like oil and gas, chemicals, power generation, and water management.
The Flow Control Division (FCD) of Flowserve designs, manufactures, distributes, and services an extensive range of flow control solutions. This includes engineered and industrial valve and automation systems, as well as isolation and control valves, actuation, controls, and related equipment. These products are crucial for managing the flow of liquids, gases, and multi-phase fluids in various industrial applications. Continue reading...
Flowserve's business model relies on capital investments and maintenance expenditures from its customers. The company leverages multiple sales channels, including project orders, quick turnaround business, and aftermarket sales. With a global presence in over 45 countries, Flowserve operates through a network of quick response centers and service centers to meet customer needs efficiently.
The competitive landscape for Flowserve is influenced by factors such as delivery times, application knowledge, expertise, pricing, product range, contractual terms, installation history, and quality reputation. Key competitors include Sulzer Pumps, Ebara Corp., Eagle Burgmann, John Crane Inc., Weir Group Plc, ITT Industries, and KSB SE & Co. KGaA.
As of December 31, 2023, Flowserve reported a backlog of orders totaling $1.89 billion, with an anticipated revenue recognition for approximately 86% of this backlog during 2024. The company's focus on product development and technology includes advancements in renewable energy, energy efficiency, emissions reduction, decarbonization, and sustainability. Additionally, Flowserve is developing remote monitoring solutions, advanced equipment diagnostics, and secure data management to enhance its service offerings.
Flowserve is a well-established entity in the flow control industry, recognized for its extensive product range, global reach, and a strong commitment to innovation and sustainability.