European Positive Displacement Pumps Market, Forecast to 2022
LONDON, July 4, 2018 /PRNewswire/ -- Fragmented Market Structure Drives Top Manufacturers to Adopt Consolidation Trend to Enter Into New Markets
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This study focuses on European Positive Displacement (PD) pumps market (2017-2022) and its application across various industries.With regards to the two wide divisions of pumps types, PD pumps comprise about 30% of the market globally.
The product segmentation in this study includes reciprocating (piston and plunger and diaphragm and AODD pumps), rotary (gear, lobe, vane, screw and progressive cavity) and peristaltic (hose and tube) pumps.Russia is excluded in this study; However, the perspective from market participants and leaders from various regions of Europe are obtained to understand the latest market / technology trends.
The study dives deep into the drivers and restraints that influence the market growth of PD pumps.The political, economic, and technological factors can aid or affect investment in industries, which will in-turn have a domino effect on the PD pumps business.
These factors have to be recognized to perform forecast analysis accurately on the market. Apart from considering only the present PD pumps market scenario, the evolution of the market is analyzed to discuss how the business model is likely to change in the future. Transformation of business model will give rise to new challenges and opportunities, and this can be taken as an opportunity for market participants to serve their customers in a better way, thereby creating more demand for PD pumps.
Research Highlights
• Industrial Internet of Things (IIoT) is a new technology that can help solve problems and improve productivity, efficiency, and reduce downtime. The current market trend is to implement IIoT features into PD pumps in order to achieve maximum plant optimization. Plant optimization is in great demand in almost all industries because, in recent times, high importance is being given to achieving operational cost savings than savings on capital investment. The shift in the industry is focused more toward OPEX than CAPEX investments / savings. IIoT technology thereby helps to provide a lifecycle based service with a goal to achieve operational cost savings.
• As a result of more focus being laid on service, a shift in the business model from selling products to selling services / solutions to the customers has already been observed. To serve the customers betters, companies are looking to hire people who are not just pump experts but who also possess deep process knowledge.
• More investments in certain industries during the forecast period is expected to attract more PD pumps business in these sectors.
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