DUBLIN, October 6, 2017 /PRNewswire/ --
The "Pumps and Valves Services Market in North America 2017-2021" report has been added to Research and Markets' offering.
The pumps and valves services market in North America to grow at a CAGR of 4.56% during the period 2017-2021.
Pumps and Valves Services Market in North America 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is Role of IIoT and big data in pumps and valves diagnostics. Innovation fosters businesses, and as the role of technology cannot be undermined, it is well understood that business and technology cannot be separated from each other. The streamlined technology provides a better approach to business practices by completing the work efficiently and effectively in a faster, cheaper, and superior way. Consequently, Industrial Internet of Things (IIoT) capacitates specialists to monitor as well as maintain the robustness and soundness of pumps and valves even from a distant location. Though smart valves and pump positioners have captured the market to a certain extent, the limitations of time to scrutinize the software in order to look for any faults have led to the necessity of IIoT.
According to the report, one of the major drivers for this market is Expansion of the oil and gas industry in North America. Currently, the oil and gas industry in North America is expanding, owing to the exploration of shale gas in the region. This exploration has led to the growth of related industries like chemical and petrochemical and water and wastewater. Chemical and petrochemical industries are expanding because of the easy-availability of raw materials. The expansion of oil and gas industry has led to the increasing demand for industrial water supply.
Further, the report states that one of the major factors hindering the growth of this market is In-house maintenance teams in the end-user industries. The end-users nowadays have started servicing pumps and valves through in-house maintenance teams. These teams carry out the repair services of pumps and valves in plants and reduce the need for outsourced pumps and valves service providers. This challenge is treated very lightly by pumps and valves services vendors because maintaining an in-house servicing team requires an additional cost. Also, in industries where the use of pumps and valves services is less, the in-house servicing team serves as a redundant factor.
- Franklin Electric
- Universal Plant Services
- North American hydraulics
Other prominent vendors
- AR North America
- North American Pump
- Schaeffler Group
- AMERICAN VALVE
- HAWE Hydraulik
- SAMSON Controls
- Professional Valve Service
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation By Services
Part 07: Market Segmentation By End-User
Part 08: Geographical Segmentation
Part 09: Decision Framework
Part 10: Drivers And Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Key Vendor Analysis
Part 14: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/q39s4f/pumps_and_valves
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SOURCE Research and Markets