United States Industrial Pump Market Report 2020-2027: Demand for Chemicals is Expected to Fall Drastically, which will Further Hinder Market Growth
7 January 2021
Dublin, Jan. 07, 2021 (GLOBE NEWSWIRE) -- The "U.S. Industrial Pump Market Size, Share & Trends Analysis Report, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
The U.S. industrial pump market size is expected to reach USD 8.74 billion by 2027 with the market projected to register a CAGR of 1.7%
Rising E&P activities in the country coupled with increasing crude oil production in both onshore and offshore oil fields is expected to boost the demand for industrial pumps over the forecast period.
Rising expectations of customers in the past few decades have led to increased spending by the end-user industries to improve the quality of industrial pumps along with installing advanced process control. This has further led to increased spending by the industrial pump manufacturers in the region in an attempt to improve energy efficiency which is likely to benefit the market growth.
Key market players have undertaken various initiatives such as technology innovations, research and development, partnerships, and mergers and acquisitions for manufacturing cost-effective industrial pumps. Moreover, rising investments by major players on technological advancements that focus on ensuring higher productivity are projected to spur market growth.
The chemical industry is expected to be negatively impacted by the novel coronavirus outbreak on numerous fronts-operational and supply chain disruptions, lowered demand and productivity, and potentially tightening credit markets. As a result, the demand for chemicals is expected to fall drastically, which is further likely to hinder the industrial pump market growth.
U.S. Industrial Pump Market Report Highlights
- The centrifugal pumps product segment accounted for a revenue share of 70.8% in 2019 owing to their extensive use in various end-use industries, especially for high capacity and low-pressure pumping applications.
- The demand for reciprocating pumps is projected to expand at an estimated CAGR of 1.8% from 2020 to 2027 on account of the increasing need to replace existing old pumps with newer and more energy-efficient ones.
- The water and wastewater treatment application segment is anticipated to register a growth rate of 2.1% over the forecast period owing to the population growth, urbanization, and rise in manufacturing activities across several states in the U.S.
- The industrial pump market in Texas accounted for a revenue share of 17.6% in 2019 on account of Texas being one of the leading crude oil-producing states in the U.S. coupled with increasing demand from food & beverage and power generation industries.
- In April 2020, Flowserve Corporation introduced a new vacuum pumps series with the name of the SIHI Dry PD Mi series which is capable of improving the throughput times, process efficiency, and the time required to achieve the target vacuum levels.
Key Topics Covered:
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope and Assumptions
1.3. Information Procurement
1.4. Information Analysis
1.5. Market Formulation & Data Visualization
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. U.S. Industrial Pump Market Variables, Trends, & Scope
3.1. Market Segmentation & Scope
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales Channel Analysis
3.3.2. Vendor Selection Criteria
3.4. Regulatory Framework
3.5. U.S. Industrial Pump Market - Market dynamics
3.5.1. Market Driver Analysis
188.8.131.52. Positive outlook towards oil & gas sector
184.108.40.206. Technological advancement in industrial pump manufacturing
3.5.2. Market Restraint Analysis
220.127.116.11. Stringent regulations for manufacturing industrial pumps
3.6. Business Environment Analysis: U.S. Industrial Pump Market
3.6.1. Industry Analysis - Porter's
3.6.2. PESTEL Analysis
3.7. Major Deals & Strategic Alliances Analysis
Chapter 4. COVID-19 Impact Analysis
4.1. COVID-19 Spread in The U.S.
4.2. Impact of COVID-19 on the U.S. Industrial Pump Market
Chapter 5. U.S. Industrial Pump Market: Product Estimates & Trend Analysis
5.1. U.S. Industrial Pump Market: Product Movement Analysis, 2019 & 2027
5.2.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
5.2.2. U.S. centrifugal pump market estimates and forecasts, by product, 2016 - 2027 (USD Million)
5.3. Positive Displacement
5.3.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
5.3.2. U.S. positive displacement pump market estimates and forecasts, by product, 2016 - 2027 (USD Million)
18.104.22.168. U.S. rotary pump market estimates and forecasts, by product, 2016 - 2027 (USD Million)
Chapter 6. U.S. Industrial Pump Market: Application Estimates & Trend Analysis
6.1. U.S. Industrial Pump Market: Application Movement Analysis, 2019 & 2027
6.2. Oil & Gas
6.2.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
6.6. Water & Wastewater
6.7. Food & Beverage
Chapter 7. U.S. Industrial Pump Market: Regional Estimates & Trend Analysis
7.1. U.S. Industrial Pump Market: Regional Movement Analysis, 2019 & 2027
7.13. New Mexico
Chapter 8. U.S. Industrial Pump Market: Competitive Analysis
8.1. Key Players & Recent Developments & Their Impact on the Industry
8.2. Key Company Categorization
8.3. Vendor Landscape
8.4. Company Market Position Analysis
8.5. Competitive Dashboard Analysis
8.6. List of key emerging companies
Chapter 9. Company Profiles
9.1. Company Overview
9.2. Financial Performance
9.3. Product Benchmarking
9.4. Strategic Initiatives
- Gardner Denver
- Flowserve Corporation
- ITT INC
- SPX Flow
- Sulzer Ltd.
- EBARA International Corporation
- Iwaki America Inc.
- Franklin Electric
For more information about this report visit https://www.researchandmarkets.com/r/fk5jnt
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