North American Chemicals Pumps Industry, Forecast to 2022
NEW YORK, Oct. 18, 2017 /PRNewswire/ -- Rising Needs for Energy-efficient and Emission-free Pumps are Driving the North American Chemical Pumps Market
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The aim of this private market engineering is to evaluate the opportunities for pumps across the North American chemicals industry and assess the trends across the region during the study period. This market insight covers the growth opportunities for the process equipment pump companies across the region and covers topics on how the changing landscape and needs and requirements is driving the need for adoption of pumps that are smarter and succinctly address every challenge and issue that customers face in the current scenario.
The report also brings to notice how, as economies recover and export markets are restored, the growth rate for chemical pumps in the North American region is expected to witness a gradual increase in terms of revenues and unit shipment size. This research study brings out the latest trends in terms of industry, economy, and technology across several end-user industries for chemical pumps and its sub-product types such as diaphragm, gear, lobe, peristaltic, vane, piston, screw, and progressive cavity pumps under the umbrella of PD pumps and single-stage, multi-stage, axial & midflow, seal-less & circular, and submersible pumps under the centrifugal pumps umbrella. The study concludes with an analysis of forecasted growth trends of the process equipment market during the forecast period.
Key Questions the Study Will Answer:
• How is the market expected to grow between 2017 and 2022?
• What are the key market drivers and market restraints impacting the North American pumps in the chemicals industry?
• How will these factors impact the market in the short and long terms?
• What are the key business trends that are poised to disrupt the NA pumps business?
• Which type of pump types are considered most opportune for growth by chemical companies and at what rates are they expected to grow?
• What are the major sub segments in chemicals that vastly adopt pumps?
• Which sub-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 America pumps market?
Key Findings:
• In 2016, the NA pumps market generated a revenue of $909.0 million from the chemicals sector alone, wherein, centrifugal pumps accounte dfor 61.3% of the total, amounting to US$ 557.4 million, while PD pumps amounted to US$ 351.7 million in the same year.
• The CAGR during the forecast period from 2016–2022 is estimated to be 2.6% as the chemicals industry is displaying slow recovery in th eregion from the slow moving growth rates since 2015. The NA pumps industry is expected to grow at 1.4% in 2017 to finally amount t oUS$ 921.4 mn.
• With Europe pulling out of the recession and the APAC market riding high on successful merger and M&A activities in the chemicals industry ,the export market for NA chemical pumps industry looks ripe with opportunities.
• Rapid development of global infrastructure and investment in cosmetics and pharmaceutical sectors are some of the other factors whic hcontribute to the growth of PD pumps in the region. The PD pumps segment is displaying a projected CAGR of 2.6% for the period 2017-2022.
Drivers:
• Specialty chemicals' capacity additions and expected growth opportunities
• Rising demand for adhesives, paints, and coatings products in the specialty chemicals segment
• Development across key end-user industries
• Fast Penetration of IoT in Chemical Manufacturing
Restraints:
• High cost of energy-efficient pumps
• Fluctuations in the price of raw materials
• Slowing growth in manufacturing industry in North America
• Tough competition from low-cost manufacturers in developing nations restrains growth
Key Takeaways:
The automotive and construction industries will be the key end users contributing towards the growth of the pumps market in the chemicals industry. The influx of foreign competitors is increasing pricing pressures on local manufacturers. Manufacturers need to focus on repair and maintenance service capabilities to increase profit margins.
Standalone pumps are considered commodity products while complete systems have strong brand recognition. Thus, manufacturers need to focus on providing complete systems.
Read the full report: https://www.reportlinker.com/p05149313
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