Rental Industrial Pump Market – an industrial product used in several industries on rental basis for liquid transportation
- The global rental industrial pump market has been expanding significantly over the last few years. This growth can be primarily attributed to increase in government-sponsored projects, rise in investments in rental pumps in developing economies across the globe, and growth of competition in the global industrial pump sector.
- Furthermore, renting industrial pumps is much more cost-effective than buying. Thus, the demand for rental industrial pumps is projected to continue to rise in the next few years.
Developing economies witnessing increase in number of building projects to drive the global rental industrial pump market
- Exponential growth of construction and manufacturing industries in third-world countries is anticipated to significantly drive the demand for rental industrial pumps in the near future. Rental services are more cost effective and they enable the user to focus on core business activities. This is a key factor driving the demand for rental industrial pumps in developing regions.
Growth opportunities by venturing into new verticals and applications anticipated to drive rental industrial pump market
- Companies operating in the global rental industrial pump market are anticipated to explore growth opportunities through increasing their penetration. In order to achieve this, companies are increasingly opting for diversification. Diversification not only helps explore more options but also facilitates business stabilizing.
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North America to Hold a Leading Share of Global Rental Industrial Pump Market
- Geographically, the global rental industrial pump market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the rental industrial pump market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the rental industrial pump market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America rental industrial pump market is segmented into Brazil, and Rest of South America.
- North America dominates the market share owing to large number of industries and increasing infrastructure products across the region.
- However, Asia Pacific is anticipated to grow at a fastest CAGR growth rate during the forecast period. Rising Residential and commercial construction projects and increasing industries driving the market.
Key Players Operating in the Rental Industrial Pump Market:
The rental industrial pump market is competitive with several global and regional players. Major players are adopting various strategies, such as regional expansion and product portfolio expansion to enhance their position in the market.
- These players are expected to take advantage of the rising industrial expenditure and new infrastructure development driven by increase in the number of power plants in the region. The players are focusing on increasing mergers and acquisitions to gain an edge over competitors
- Companies are expanding their business across different region to cater to the demand of consumers.
A few of the key players operating in the global Rental Industrial Pump market are:
- Cornell Pump Company
- Franklin Electric Co., Inc.
- Xylem Inc.
- Holland Pump
- Integrated Pump Rental
- MWI
- Selwood Limited
- Tsurumi America, Inc.
- Thompson Pump
- United Rentals
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Global Rental Industrial Pump Market: Research Scope
Global Rental Industrial Pump Market, by Type
- Centrifugal Pump
- Submersible Pump
Global Rental Industrial Pump Market, by Application
- Dewatering
- Pipeline Bypass
- Water Transfer & Supply
Global Rental Industrial Pump Market, by Industry
- Construction
- Mining
- Agriculture
- Water & Wastewater
- Municipal
- Oil & Gas
- Others
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