NEW YORK, April 16, 2015 /PRNewswire/ -- Key Findings
•The Southeast Asian (SEA) Pump Services market is in the growth stage. It is expected to grow at a CAGR of x % between 2014 and 2019, adding more than half a million to its existing revenues. The total revenue generated in this market was $ x million in 2014, which is likely to reach $ x million by 2019.
•The market is primarily driven by the need for increased productivity as well as investments happening in oil and gas, chemicals and petrochemicals, and water and wastewater treatment segments. The slow and unpredictable global economy and its filtered-down effects in Southeast Asia have forced end users to reduce their CAPEX spending while opening up their OPEX spending, which directly drives the services market.
•Among the different type of services, maintenance, repair, and overhaul (MRO) and installation and commissioning (I&C) services dominate by accounting for x % of the market. This trend is expected to continue in the forecast period as SEA infrastructural projects are either recently commissioned or in the mid-stage of completion.
•Indonesia and Malaysia, with x % of the total market revenue and their huge installed base of pumps, are expected to drive the services market for repairs and spares in the future.
SEA pump services market will witness higher growth towards the end of the forecast period as end users increasingly invest in operational expenditure.
As oil and gas, water and power generation industries will continue to invest in advanced pump solutions, focus on offering customized services such as asset management and condition monitoring is vital.
To stay competitive, pump manufacturers need to cater directly to end users in the short and medium terms, while gradually expanding their partnership with specialist service providers over the long term.
The ability to handle smart and intelligent pump systems that have in-built process controllers and pump diagnostics will be a differentiating factor for service providers as these pumps are likely to witness greater demand in the future.
Key Questions This Study Will Answer
Is the Southeast Asian pump services market growing, how long will it continue to grow, and at what rate?
Are the existing competitors structured correctly to meet customer needs?
Will these companies continue to exist or will they get acquired by other companies? Will the services become features in other end-user markets?
How will the structure of the market change with time?
Are the services offered today meeting customer needs or is additional development needed?
Are the vendors in the space ready to go it alone, or do they need partnerships to take their businesses to the next level?
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