The world?s leading pump manufacturer, Grundfos, is being challenged by intensified competition, low growth in the European markets and unfavourable currency exchange rates in 2014. High growth in for instance the US and China strengthens the global market position, but there is a continued decline in profitability. A new strategy is to reverse this trend. In 2014, the Group experienced a growth in turnover of 5.7 per cent, measured in local currency. This has strengthened Grundfos? global market share.