North American Pump Services Market, Forecast to 2023
This research study analyzes the North American pump services market across various industries. With increasing oil prices, the demand for pump services is expected to grow. Analysis is provided by type of pump service (MRO, installation and commissioning, decommissioning, and value-added services). Besides, the study sheds light on the key factors that drive this market, along with their impacts, through the forecast period. A comprehensive market share analysis for various types of service providers is also provided.
The research study brings out the latest trends in terms of industry, economy, and technology across several end-user industries for pump services. It covers the opportunities for pump service providers and analyzes how the changing landscape and evolving end-user requirements are driving the need for pumps that are smarter and succinctly address every challenge and issue that customers face. Digital transformation caused by the convergence of industry forces is driving unprecedented change. Data is the new currency, and there is demand from end users to generate and mine the data to convert it into actionable insights. This will transform the market, which is poised to record strong growth in the next few years. This study also analyzes the evolution of maintenance from an in-house-based to a predictive-analytics-based service. It also brings to light how, as technology adoption increases, the service channels will experience unbundling and how it will impact the service providers as their traditional revenue stream comes under threat.
Base Year: 2017
Forecast Period: 2018–2023
Study Period: 2016–2023
Monetary Unit: US Dollars
Geographic Coverage: North America: US and Canada
End-user Coverage: Oil and gas, water and wastewater, chemical process, power generation, food and beverage, pharmaceuticals, and others. Others include pulp and paper, marine, textile, iron and steel, automotive, agriculture, mining, construction, etc.
Key Issues Addressed
The core questions that every pump supplier has to deal with at the beginning of every fiscal year are:
How is the market expected to grow between 2017 and 2022?
What are the key drivers and restraints impacting the North American pump services market?
What are the key business trends that are poised to disrupt the NA pumps business?
Which pump types are considered as most opportune for growth by chemical companies and at what rates are they expected to grow?
What are the major segments in the pumps market that vastly adopt new technologies? Which industries offer maximum growth opportunities during the forecast period?
How has the competitive landscape changed? What is the relative position of competitors in the North American pumps market?