3.5 Mn Units of Mining Pumps to be Sold by 2028, Projects New Study by XploreMR
The global mining pumps market is projected to grow at a steady pace during the forecast period (2018 to 2028), according to a new market study by XploreMR. The study suggests that the growth of the market is majorly attributed to the soaring adoption of these pumps in mining activities across the globe, increased investments, and a burgeoning number of mining activities across the world. Expansion of on-going mining products and new projects are cumulatively bestowing lucrative revenue opportunities to the global mining pumps market.
Furthermore, surging prices of numerous essential commodities have propelled the demand for mining globally, which in turn, has been fuelling the adoption of mining equipment, including mining pumps, on a wide-scale. Likewise, another factor that has been crucial to the growth of the mining sector is increased investments by governments and private organizations, which are subsequently bolstering the sales of mining pumps. On the back of the aforementioned factors, sales of mining pumps are projected to surpass 3.5 million units by the end of 2028.
Manufacturers Leveraging Emergence of Advanced Technologies
Manufacturers of mining pumps are leveraging the emergence of novel technologies such as Industry 4.0, Industrial Internet of Things (IIoT), and penetration of automation. These technologies are encouraging manufacturers to design novel products, at a quicker pace in larger quantities, thereby widening the profit margins. For instance, integration of intelligence analytics with the infrastructure of the pump enables every component to have its own set of protocols and empowers its mechanical collaboration with other components, thus enhancing the overall efficiency of the pump.
This is also expected to open new avenues for stakeholders and introduce new business models in line with changing industrial landscape. Moreover, the introduction of new products with integrated solutions is enhancing user experience. While increasing mining activities remain a prime growth attribute, the affordability and easy installation of mining pumps remain crucial to the adoption in end-use applications.
Increasing Extraction Activities of New Age Minerals Offers Growth Opportunities
In addition to conventional commodities, there have been numerous investments to extract new-age minerals, such as cobalt, copper, nickel, lithium, and many more. For instance, surging demand for Lithium-ion batteries in the automobile sector is propelling demand for Lithium. Along similar lines, cobalt is also gaining remarkable traction ascribed to increasing usage in the production of electric vehicles.
Closely observing the changing demands, miners across the globe are focusing on the extraction of commodities to cement their market presence. Furthermore, capitalizing on rising prominence apropos of the technology of the future has been identified as a long term perspective of these market players. The growing demand for these minerals will continue to drive the demand for mining pumps. On the other hand,
Competitive Landscape of Mining Pumps Market
The competitive landscape of the mining pumps market represents a highly consolidated market structure with tier 1 and tier 2 players accounting for nearly 60 to 70% of global market share. Among them, the top 6 players, namely Xylem, Flowserve Corporation, KSB SE & Co. KGaA, Weir Group, Sulzer Ltd., and GRUNDFOS, account for around 40-48% share, backed by their superior product portfolios.
Market players are focusing on penetrating into customer segments by customizing operations. Furthermore, sprouting sales of mining pumps on the back of continual innovations and developments will remain a driving factor. Players are adopting technologies to drive notable profits and gain competitive edge over their contemporaries. A key development in the competitive landscape includes, the partnership of Flowserve Corp and Azima Inc. to exclusive predictive maintenance solution for industrial pumps as well as other rotating equipment.
XploreMR’s new report on mining pumps market sheds light on compelling insights with regard to the dynamics of mining pumps market, including drivers, restraints, trends, and opportunities. The report on mining pumps system market pinpoints the market size, both in terms of value as well as volume particulars along with key factors determining the market size of mining pumps market. Additionally, the report on mining pumps market also offers a detailed analysis of the market along with a comprehensive segmental analysis and regional growth matrices.
Chapter 1- Executive Summary
This chapter in the mining pumps market offers a quick and efficient summary of revenue and growth particulars, wherein the prominent segments governing the market space have also been highlighted. Moreover, this chapter in the mining pumps market report also enunciates the futuristic growth of mining pumps along with previous year growth and also offers a full-fledged comparison. This chapter in the mining pumps market report also highlights the aspects of the leading segments in terms of revenue as well as growth potential.
Chapter 2- Market Introduction
This chapter in the mining pumps market focuses on the introduction and definition of the mining pumps market, along with a detailed definition of the product ‘mining pumps’. Moreover, this chapter also elaborates on the structure or taxonomy of mining pumps market with respect to various segments, such as capacity, application, product type, and region.
By capacity, the mining pumps market has been classified into small (upto 500 gpm), medium (500-1000 gpm), and high (more than 1000 gpm). By application, the mining pumps market has been classified into drainage, gravel/dredge, slurry, jetting, and water/wastewater. By product type, the mining pumps market has been classified into centrifugal pumps, reciprocating pumps, and rotary pumps. By region, the mining pumps market has been gauged across key regions such as North America, Latin America, Western Europe, Eastern Europe, APAC, and MEA.
Chapter 3- Market Dynamics
This chapter in the mining pumps market report elaborates on the key market trends governing the market space along with primary challenges for the market players in terms of business expansion in the mining pumps market.
Chapter 4- Associated Industry Assessment
This chapter elaborates on a market overview of mining pumps market, wherein market analysis in terms of value and volume over the forecast period. Moreover, this chapter also elaborates on the market analysis and forecast of mining pumps market by region and product type. Additionally, this section also comprises of a market attractiveness analysis by product type for the understanding of the readers with regard to the lucrativeness of each product type in the mining pumps market.
Chapter 5- Key Indicator Assessment
This chapter talks about the supply chain of the mining pumps market. In the discussion on supply chain of the mining pumps market, mining pumps manufacturers, pumps manufacturers, distributors/suppliers, and end users. Additionally, this chapter in the mining pumps market also talks about cost structure of the mining pumps market. Moreover, macro-economic factors influencing demand have also been discussed in detail in this chapter.
Chapter 6- Global Mining Pumps Market Analysis and Forecast
Initially, this chapter talks about the global market outlook of mining pumps market, wherein the market value, volume, forecast, and YOY growth has been discussed in detail. Moreover, it also talks about the market absolute $ opportunity of mining pumps market over the forecast period.
In addition to this, pricing analysis of the mining pumps market has also been discussed which offers insights on price index and price point assessment. The forecast scenario included comprises of all the prominent forecast factors and the relevance of their impact. Apart from the aforementioned, this chapter in the mining pumps market also talks about other crucial aspects such as Market Share and BPS Analysis by Capacity, Y-o-Y Growth Comparison by Capacity, Absolute $ Opportunity by Capacity, and Market Attractiveness Analysis by Capacity.
Chapter 7- North America Mining Pumps Market Analysis
This section sheds light on details of North America mining pumps market across prominent countries of North America region, such as the US and Canada. Moreover, regional dynamics having deep-rooted influences on the North America mining pumps market is also incorporated in this chapter has also been discussed.
Chapter 8- Latin America Mining Pumps Market Analysis
This chapter comprises of details of the growth potential of Latin America mining pumps market along with regional trends shaping the Latin America mining pumps market have also been discussed for an unmatched overview of the market. Additionally, a country level analysis has also been included in this chapter which revolves around all the discrete segments of the market.
Chapter 9- Western Europe Mining Pumps Market Analysis
This chapter gives a detailed overview of the Western Europe mining pumps market and also elaborates on region-wise opportunities for the market players to take advantage of. The analysis is based on particulars obtained for key countries of the Western European region and the insights garnered have been compiled in a diligent manner.
Chapter 10- Eastern Europe Mining Pumps Market Analysis
This chapter offers a deep outlook of the Eastern Europe mining pumps market across key regions of Eastern Europe, along with a detailed absolute opportunity analysis from an investment standpoint.
Chapter 11- APAC Mining Pumps Market Analysis
APAC mining pumps market has been analyzed in this chapter, wherein the impact and relevance of the regional factors have also been discussed. Moreover, opportunity analysis across key regions of APAC also stands out as a key inclusion of this chapter.
Chapter 12- MEA Mining Pumps Market
This chapter offers a quick look at the MEA mining pumps market and features an exclusive outlook of the MEA mining pumps market with respect to various segments.
Chapter 10- Competitive Assessment
This chapter in the mining pumps market report puts spotlight on the competition dynamics of the market and enlists the names of key players having a considerable stronghold in the global market space.
Chapter 11- Company Profiles
This chapter features the key profiles of all the prominent companies operating in the global mining pumps market. Moreover, it also consists of key focus areas of these players along with their revenue footprint.
Mining Pumps Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2028Buy Now
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