Market Scope and Structure Analysis
Industrial pumping machinery are usually heavy-duty process pumping machinery that are used to move different types of material like water, chemicals, petroleum, oil, wastewater, slurry, and sludge. These pumping machineries are used for industrial purposes. Industrial pumping machinery exhibit many advantages for the oil & gas and chemical industries. These pumping machineries are used to achieve a very high flow rate with a low head by allowing additional pressure required to move liquid for long distances. Industrial pumping machinery are also considered the best choice for lower viscosity liquids and high flow rates.
COVID-19 Impact Analysis
- COVID-19 pandemic has shut down the production of various products in the industrial pumping machinery industry, mainly owing to the prolonged lockdown in major countries globally. This has hampered the growth of the industrial pumping machinery market significantly in the last few months and is likely to continue during 2020.
- COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to harm the market growth throughout the year.
- The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
- Further, the potential impact of the lockdown is currently vague and the financial recovery of companies is based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
- Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.
Top Impacting Factors
Increase in demand for energy-efficient and sustainable types of equipment drives the market growth. Similarly, rise in demand in the replacement market and enlarging water and wastewater plants guide the market growth. Besides, fluctuating raw material prices of the pumping machinery may cause a negative impact. Moreover, technological advancements by the players in the market toward efficiency and following the supportive government regulations provide growth opportunities for the market.
- New products that contain improved capabilities have been launched by the leading market players. They have taken necessary steps to improve the accuracy of devices and overall functionality as well. For instance, GEA Group launched its new range of hygienic centrifugal pumping machinery with a unique design in March 2020. It allows easy cleaning with a high capacity to handle a wide range of liquids. The product launch has enhanced the product offerings by GEA Group to sustain the competition in the industrial pumping machinery market.
- Moreover, business expansion strategies also assist in enhancing the geographic footprint of the company and help in gaining significant market share for industrial pumping machinery products. For instance, Baker Hughes GE and Houghton International came into an agreement with Hayward Tyler in September 2020. It is a distribution channel with upgraded services of pump spare parts in the UK and Ireland. This agreement is expected to improve the service offerings for industrial pumping machinery consumers in the UK and Ireland.
Key Benefits of the Report
- This study presents the analytical depiction of the industrial pumping machinery industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the industrial pump's market share.
- The current market is quantitatively analyzed to highlight the industrial pumping machinery market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed industrial pumping machinery market analysis based on competitive intensity and how the competition will take shape in the coming years.
Industrial Pumping Machinery Market Report Highlights
By Product Type
Key Market Players
KSB AG, Grundfos Holding AS, ITT Inc., Sulzer Ltd, Dover Corporation., Ebara Corp., Flowserve Corporation, Weir Group PLC, Schlumberger Ltd, Baker Hughes Inc.