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Latin America is a region rich in natural resources. As such, the extractive industry plays a crucial role in the countries’ economies. Although the oil and gas industry drives pump sales as the largest end user, other industries such as power generation, water and wastewater, construction, chemical processes, food and beverage, pharmaceuticals, and metals and mining push sales as well. After a brutal decline in the region´s economy due to the COVID-19 pandemic, changes in each country´s legal frameworks and regulations are crucial to enable pump sales to rebound. This report’s objective is to analyze trends within the pumps market. It includes growth drivers, restraints, and innovative opportunities that industry stakeholders need to know and take advantage of. Frost & Sullivan conducted detailed research to contextualize the study, examining pump end users and sub-products as well as significant circumstances within key Latin American countries. The study also analyzes the competitive environment and offers a quantitative forecast of each segment’s market size.The report includes:• Product segmentation within the two main categories, centrifugal and positive displacement pumps.• Countries: Brazil, Mexico, Colombia, Argentina, and Chile.• Nine end-user segments: Oil and gas, chemical processing, food and beverage, water and wastewater, pharmaceuticals, power generation, construction, metals and mining, and others (including agriculture, electronics, marine, pulp and paper, iron and steel, textiles, and automotive industries).Topics addressed are as follows:• The current size of the industrial pumps market in Latin America and forecast for the 2021–2027 period (overall and by product segment, end user, and country).• Pandemic impact on pump sales and recovery of each end user’s revenue in the next six years.• The competitive environment and market share of leading companies.
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