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Industry 4.0, IIoT, and Smart Services are Disrupting the $3.47 Billion Market
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This research study analyzes the North American pump services market across various industries. With increasing oil prices, the demand for pump services is expected to grow. Analysis is provided by type of pump service (MRO, installation and commissioning, decommissioning, and value-added services). Besides, the study sheds light on the key factors that drive this market, along with their impacts, through the forecast period. A comprehensive market share analysis for various types of service providers is also provided.
The research study brings out the latest trends in terms of industry, economy, and technology across several end-user industries for pump services. It covers the opportunities for pump service providers and analyzes how the changing landscape and evolving end-user requirements are driving the need for pumps that are smarter and succinctly address every challenge and issue that customers face. Digital transformation caused by the convergence of industry forces is driving unprecedented change. Data is the new currency, and there is demand from end users to generate and mine the data to convert it into actionable insights. This will transform the market, which is poised to record strong growth in the next few years. This study also analyzes the evolution of maintenance from an in-house-based to a predictive-analytics-based service. It also brings to light how, as technology adoption increases, the service channels will experience unbundling and how it will impact the service providers as their traditional revenue stream comes under threat.
Base Year: 2017
Forecast Period: 2018–2023
Study Period: 2016–2023
Monetary Unit: US Dollars
Geographic Coverage: North America: US and Canada
End-user Coverage: Oil and gas, water and wastewater, chemical process, power generation, food and beverage, pharmaceuticals, and others. Others include pulp and paper, marine, textile, iron and steel, automotive, agriculture, mining, construction, etc.
Key Issues Addressed
Global Digital Services in Pumps Growth Opportunities
Global Heat Exchanger Growth Opportunities
Global Centrifugal Pumps Growth Opportunities
Industrial Internet of Things (IIoT) Drives Innovation in Digital Solutions for the Global Gear Pump Market
Demand for Energy-efficient Pumps and Digital Services Powering the Global Centrifugal Pumps Market
Value-added Services Backed by Industry 4.0 to Propel the Global Oil & Gas Refinery MRO Services Market, 2020–2024
2025 Vision: Future of Pumps in a Connected World
Strategic Outlook of the Global Pumps Market, 2020
Global Oil and Gas Pumps Market, 2019
Industrial Pumps Market in Russia, Forecast to 2023
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