Telecomunicazioni
Integration of Energy-efficient and IIoT Capabilities is Expected to Unlock New Revenue Streams for Pump Manufacturers
The total pumps market in Europe generated estimated revenue of $1,334.7 million from the chemical industry in 2018. Centrifugal pumps used in the chemical processing plants represented 75.6% of the total pump market, and the remaining 24.4% of the market was held by positive displacement (PD) pumps in 2018. The compound annual growth rate for the total market is an expected 2.0% through 2025.
"Pump manufacturers offering value-added services such as end-to-end monitoring of pump performance throughout their lifecycle to increase energy efficiencies will remain competitive," said . "Furthermore, the shift towards digital chemical plants will create opportunities for pumps embedded with , as they can aid , reduce asset failure and, consequently, prevent the shutdown of plants."
Frost & Sullivan's recent analysis, , evaluates the various types of centrifugal and PD pumps that are used in the chemical processing industry. It includes detailed assessments of pump adoption across sub-industries such as basic, specialty, , and . It evaluates the opportunities across , , , , , , , , and the rest of . It also includes technology perspectives and the role of IIoT in the pumps market.
"As chemical manufacturers experiment with flexible and to efficiently manage various product lines, that are robust and adaptable to will enjoy greater uptake," noted Emani. "The demand for pumps will be particularly high in France , Spain , Italy , Belgium , and Poland , as chemical manufacturers look to make the most of the availability of skilled workforce, strong logistics network, and access to raw materials in these countries."
Pump manufacturers can widen their footprint and increase revenue share by tapping the following growth opportunities:
is part of Frost & Sullivan's global Industrial Automation & Process Control Growth Partnership Service program.
For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.
MDE7-10
Edyta Dębowska
T: +48 22 4816203
E: edyta.debowska@frost.com
http://ww2.frost.com