Industrial Pump Rental Market size to grow by USD 1.76 billion from 2022 to 2027; Increasing benefits of pump rental services to drive the growth- Technavio

NEW YORK, Nov. 21, 2023 /PRNewswire/ -- The industrial pump rental market is expected to grow by USD 1.76 billion from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 7.2% during the forecast period. The market is segmented by end-user (industrial, water utility, and construction), type (centrifugal pumps, positive displacement pumps, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America). The increasing benefits of pump rental services is a key factor driving market growth. Renting pumps, particularly during a short period of time, represents an extraordinarily cost-effective option for the ownership of equipment. The major benefits offered by pump rental service providers include the flexibility of job delivery arrangements, technical support, and timely responses to repair requests, as well as an extensive range of products available for fluid handling systems. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View PDF Sample Report 

Key Highlights:

• The report recognizes the following as some of the key players in the industrial pump rental market: Action International Services LLC, Ashtead Group Plc, Barco Pump, Flowserve Corp., Grundfos Holding AS, Holland Pump Co., IPR, KSB SE and Co. KGaA, Mersino, MWI Pumps, Power Zone Equipment Inc., Roper Technologies Inc., Selwood Ltd., Speedy Hire Plc, SPX FLOW Inc., Sulzer Management Ltd., Thompson Pump, Tsurumi Manufacturing Co. Ltd., United Rentals Inc., and Xylem Inc.
• The Industrial Pump Rental Market is fragmented in nature.
• Market to observe 6.82% YOY growth in 2023.

Market Dynamics:

Major Trend

• Service delivery innovation is a major trend in the market.
• To guarantee the availability of rental pumps in time for prospective clients, manufacturers are focusing on new service delivery options that take account of their application needs.
• In addition, suppliers provide real-time information on pump services through mobile applications to help speed up the delivery of pumps as required by their users.

Significant Challenge

• Operational challenges are significant challenges restricting market growth. 
• Rental firms realize that their rental services are facing stiff challenges in terms of pricing strategies for OEM products, which could have a negative impact on revenues from the pump rental business.
• Furthermore, it may lead to higher total costs if pumps are rented for more than a period.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Keg Segments:

• The market share growth by the industrial segment will be significant during the forecast period. Compared to mining and metals, as well as oil and gas, this sector has recorded significant growth in food and beverages, pharmaceuticals, automotive, electronics, and semiconductors. Used rental pumps shall be applied to cleaning applications, temporary warehousing, dewateration, and filtration processes within the food and beverage sector. Hence, these factors are expected to drive segment growth during the forecast period. 

Get a glance at the market contribution of the segments, Request a Sample Report 

Related Reports:

The submersible pump market size is estimated to grow at a CAGR of 5.02% between 2022 and 2027 and the size of the market is forecast to increase by USD 6,170.63 million.

The heat pump water heater market is estimated to grow at a CAGR of 24.07% between 2022 and 2027. The size of the market is forecast to increase by USD 7,218.42 million.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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