Description

The major goal of this growth opportunity study is to evaluate the influence of industry trends and obstacles on positive displacement (PD) pump original equipment manufacturers' (OEMs) growth prospects over the next five years. End users across industry verticals are revising their strategy to adapt to the current market conditions as business uncertainty becomes an unavoidable factor. The vertical markets analyzed in this study are oil and gas, chemicals, food and beverage (F&B), water and wastewater (W&WW), pharmaceuticals, power generation, and others (agriculture, automotive, electronics, marine, mining, pulp and paper, and textiles). The regional segmentation covers North America, Latin America (LATAM), Asia-Pacific (APAC), Europe, and the Middle East and Africa (MEA). As the pump market is mature, Frost & Sullivan highlights the various digital solutions that can be implemented to drive market revenue. In addition, a competitive evaluation of pumps is captured, including a look at the leading market players and key factors helping them outperform their competitors. Importantly, this research offers 3 lucrative growth opportunities for pump OEMs to consider in the global market. Frost & Sullivan identifies these growth opportunities as key enablers that will unlock new revenue streams and deliver differentiated pump products and services. The Industrial Internet of Things (IIoT) and digital transformation and energy efficiency, are among the main developments explored in this report. IIoT is a top trend impacting manufacturers, as end users increasingly prioritize improving plant maintenance and reducing operating expenditure (OPEX). As more businesses realize that IIoT will drive the future of manufacturing, they will begin to look at data ownership, security, alignment with existing infrastructure, and return on investment (ROI) as priorities