North American Positive Displacement Pumps Market, Forecast to 2023
The research covers the growth opportunities for the process equipment pump companies across the region. It also covers topics on how changing landscape and needs and requirements are driving the need for adoption of PD pumps that are smarter and concisely address every challenge and issue that customers face in the current scenario. The study also brings to notice how as economies recover and export markets are restored, the growth rate for PD pumps in the North American region is expected to witness a gradual increase in terms of revenue and unit shipment size.
This research brings out the latest trends in terms of industry, economy, and technology across several end-user industries for PD pumps and its sub-product types such as diaphragm, gear, lobe, peristaltic, vane, piston, screw, and progressive cavity pumps in the region. The study concludes with an analysis of forecasted growth trends of the process equipment market during the forecast period.
The study also reveals how training programs of current and new applications are vital for increasing end-user awareness of value-added products and service.
The study also elaborates on some of the key propellers of growth for the NA PD pumps market. It was observed that renaissance of the US chemical industry is bound to create demand for PD pumps in the chemical industry. In addition, the need for operational excellence, investment in water and wastewater industry, and penetration of IIoT in process automation drive the replacement market and the PD pumps market in general. Renewed interest in mining industry is also expected to have a positive effect on the growth of PD pumps. Finally, the refining industry is expected to attract investments, thereby driving up demand for PD pumps.
Some of the key factors that restrain the growth of the NA PD pumps market include stark reduction of profit margins across all the PD pumps segments during the global financial crisis, and the high cost of energy-efficient pumps to deter end users due to high price sensitivity in the market. Industrial process optimization also is expected to reduce pump procurement.
The research concludes that major factors such as the gradual shift away from traditional maintenance offerings to managed techniques and methods are resulting in the definitive convergence of IIoT with the pumps market, wherein, tools such as cognitive analytics and next-gen prognostics are paving the way for the rise of smart pumps.
Competitive pricing of all PD pump types is the fundamental characteristic in the North American region. As it plays a crucial role, the market is expected to become more fragmented.
Screw and progressive cavity pumps continue to experience rapid growth, and large market participants are expected to acquire niche screw pump manufacturers. Standalone pumps are considered as commodity products, while complete systems have strong brand recognition. Therefore, manufacturers need to focus on providing complete systems.
Key Questions this Study will Answer:
• How is the market expected to grow during 2017–2023?
• What are the key market drivers and restraints impacting the North American PD pumps across the key-user industries? How will these factors impact the market in the long term?
• What are the key business trends that are poised to disrupt the NA PD pumps business?
• Which types of pumps are considered most opportune for growth by end-user companies and at what rates are they expected to grow?
• Which key Mega Trends from select end-user industries are the main propellers of economic activity in North America?
• How has the competitive landscape changed? What is the relative position of competitors in the North American pumps market?
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