Texas, April 20, 2021 (GLOBE NEWSWIRE) -- Pumps are gaining popularity with its wide usage in a variety of sectors, including water and wastewater, chemical, oil and gas, and power generation, which is expected to boost demand growth. Pumps for industrial use come in a variety of sizes, forms, and capacities. They're also widely used in the power industry, in a variety of processes from circulation, boiler feed, to sludge handling. Product demand is expected to benefit from the development of the chemical industry. In 2020, the United States has the highest share of the North American economy. Demand for Pumps is expected to rise as drilling activities in the offshore and onshore oil and gas sectors increase.
Furthermore, over the projected timeframe, the replacement of existing water and sanitation systems in the country is expected to fuel the demand for these pumps. The presence of strict government policies for energy conservation and safety requirements is expected to impact industry development significantly. Several federal agencies are reorganizing their regulations and developing new frameworks to encourage modern technology pumps in a variety of sectors. Rapid urbanization, increasing industrialization, technical advancements, and expanded infrastructure investment drive up demand for energy fuel.
As a result, the oil and gas, electricity, and water treatment industries are expected to expand rapidly, increasing demand for pumps in the aforementioned industries. Due to increased competition from low-cost suppliers, especially in Asia Pacific, the market is highly price sensitive. As a result, commodity price volatility is a stumbling block to industry expansion in the Americas and Europe. Maintaining market share when concentrating on growth necessitates ongoing investment in research and development activities.
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Based On Product, Market Is Segmented Into
- Dynamic Pump
- Centrifugal pumps
- Vertical centrifugal pumps
- Horizontal centrifugal pumps
- Submersible pumps
- Fire hydrant systems
- Positive Displacement Pump
- Diaphragm pump
- Gear pumps
- Peristaltic Pumps
- Lobe pumps
- Piston Pumps
Based On Position, Market Is Segmented Into
- Submersible
- Non-submersible
Based On Operation, Market Is Segmented Into
- Portable
- Stationary
Based On Application, Market Is Segmented Into
- Oil & Gas
- Chemicals
- Construction
- Power
- Water & Wastewater
- Others
Based On Region, Market Is Segmented Into
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
- Central & South America (Brazil, Argentina, Rest of Central & South America)
- Middle East & Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East & Africa)
Companies Profiled In This Report Are
- Haight Pumps
- ITT Corporation
- Iwaki America Inc.
- A.R. North America, Inc.
- Global Pump
- GRUNDFOS
- Colfax Corporation
- Flowserve Corporation
- SPX Flow Inc.
- Vaughan Company Inc.
Research Methodology
Market Insight Solution uses both primary and secondary research tools and insights to present a comprehensive industry outlook. Industry Experts act as a great contributor to our analysis. In order to attain the best understanding of the product, we interview a panel of leaders from the specific industries for better technical knowledge and determine the driving factors responsible for at local and macroeconomic platform. Additionally, with secondary data, we analyze sales, annual profits, and contracts through the company's annual reports, sales reports, company websites, in-house databases, journal and statistical publications, and many other resources.
This Report Sheds Light On Some Significant Parameters Pertinent To The Market
- What is the COVID-19 impact in pumps market?
- What is the current market status and how did this market evolve?
- What are the current factors driving the market and the barriers restraining the market?
- Are governmental, political and regulatory factors significant to this market and do they affect key growth areas?
- What are the significant players of this market and what do their prospects look like during the forecast period?
- What are the regulations that will influence to boost the supply chain network of the market?
- What are the best investment opportunities for R&D of the product and new service lines?
- What are some of the major developments in the key geographical regions which led to the current status?
- What are the current production and technological challenges to develop the market?
Market insight solutions provide a detailed blueprint of the Pumps market with the presentation of market dynamics and with the purpose of forecast. The report showcases an in-depth analysis to cover the market. To ascertain the market potential in the global platform, our analysts have further taken into consideration – competitive landscape and developmental landscape to make their point.
The major goal of our report is to develop a framework to help business executives make effective decisions. Thus, our framework provides an overview of important parameters like customer journeys, geographical regions supporting the market, emerging avenues, and the significant players partaking in the overall lifecycle of the product.
Below Is A Snapshot Of Our Key Strategic Plans
Customer Journey with product lifecycle- Companies today want their customers to interact with their brands, and our framework helps in achieving the best engagement possible. Our analysts take a deeper look at your customer's journey with the products and services to determine their pain points across various touchpoints.
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Market Insight Solutions is a leading market research firm which caters to a diverse portfolio of research campaigns. We are one of the fastest growing research organization led by an extensive team of individuals. Our team has individuals with more than 10 years of experience in diverse research domains. Our strategic insights aims at providing credible and practical solutions to meet the specific requirements of our clients. We offer market studies on basis of facts across cross domains.
- Dynamic Pump