The mining pumps market remains moderately-consolidated, with tier 1 and tier 2 players accounting for a collective 60-70% revenue share. The top 6 players, namely Xylem, Flowserve Corporation, KSB SE & Co. KGaA, Weir Group, Sulzer Ltd., and GRUNDFOS, account for around 40-48% share, driven by their superior product portfolios.
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Rapid permeation across prominent customer segments with operational excellence remains one of the key focus areas of the leading players in the mining pumps market. Moreover, growing sales of mining pumps through persistent innovations and developments also remains a key revenue lever of these companies. Furthermore, amelioration of product efficiency, in tune with application-specific protocols, are one of the focal points of these companies for long-term customer retention.
Mining pumps manufacturers remain oriented toward various ways of obtaining significant benefits, owing to the volatile nature of global pump market. The growing eminence of ‘Industry 4.0’ and ‘Industrial Internet of Things (IIoT)’ in industrial automation is encouraging manufacturers of mining pumps to craft new products in line with the same. This is foreseen to introduce a pool of new opportunities for the key stakeholders and drive the emergence of new business models in line with evolving realities.
The key objective behind such product diversifications is the enhancement of user experience via fully integrated solutions. Convergence of intelligence with pump infrastructure enables every component to have its own set of protocols and empowers its competency to effectively communicate with its fellow components, scaling up the overall efficiency factor.
Key manufacturers are eyeing technologies as such to drive notable profits and solidify their market sustenance. Leading players have made notable efforts to highlight prominence of these technologies for boosting performance of the next-generation mining pumps.
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Investments in new mining projects and amelioration of existing projects across various regions have revved up by a significant margin. For instance, the ‘New Federal Mining Agreement’ was drafted in the year 2017 and was aimed at attracting investments in the regional mining sector. As per United States Census Bureau, mining was one of the sectors with the largest absolute increase in terms of capital investments from 2006 to 2015 i.e. 75.9 percent.
Burgeoning investments in mining projects are pushing the demand for new equipment and machinery. Mining pumps, as one of the integral parts of the overall mining infrastructure, are also being highly sought-after for use in productive or extractive processes. The expenses on pumps broadly fall under either of the two investment categories, greenfield investments (for instance setting up of a new mine) or brownfield investments (refurbishing an existing facility).
Apart from the conventional commodities, new investments are gaining prominence with regard to extraction of ‘new-age minerals’, such as cobalt, copper, nickel, lithium, and many more. For instance, the growing demand for Li-ion batteries is pushing the demand for Lithium. Likewise, cobalt is also garnering significant attention on the back of its necessity in case of electric vehicles.
Prominent miners across the globe are eyeing these commodities in a bid to attain substantial benefits, owing to their long-term prospects and their rising prominence apropos of the technology of the future. Leading mining firms, with an objective of tapping into new opportunities, are vying to capitalize on this evolving trend having an optimistic potential.
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Fact.MR’s new report on mining pumps market offers an exhaustive coverage of the market growth and key factors pushing the sustained growth of the global market landscape.
The volume sales of mining pumps are likely to approach 3,512,125 units by 2018-end, up from 3,424,006 units in 2017.
These insights are derived from the latest research report by Fact.MR on the mining pumps market, which offers in-depth statistics of growth along with key trends shaping the global market landscape.
The booming prices of various commodities have further necessitated the resurgence of mining sector with large-scale adoption of mining equipment, which is fuelling growth of mining pumps market.The Fact.MR report analyzes the growth of mining pumps system market for the forecast period of 2018 to 2028.
As per the report, the mining pumps market is foreseen to grow at a CAGR of around 2.9% over the forecast timespan.Amelioration of Product Reliability Remains the Key Focal Point of ManufacturersThe report opines that leading manufacturers of mining pumps, in a bid to retain their brand equity, are focusing on upgrading the quality and efficiency of their products.
Xylem, a leading industrial giant, introduced Flygt 2400 stainless steel pump in the year 2016, which was the first stainless steel-only pump in the series designed for mining applications.
Fact.MR’s new report on mining pumps market offers an exhaustive coverage of the market growth and key factors pushing the sustained growth of the global market landscape.
The volume sales of mining pumps are likely to approach 3,512,125 units by 2018-end, up from 3,424,006 units in 2017.The study on the global mining pumps market provides granular assessments of key growth dynamics and opportunities in the market.
These include a comprehensive analysis of the regulatory and strategic landscape during the historical period on the global level and across numerous regions.
Fact.MR offers data-driven insights through the mining pumps market sizing and projections of various segments—shares and size—during the forecast period.
The booming prices of various commodities have further necessitated the resurgence of mining sector with large-scale adoption of mining equipment, which is fuelling growth of mining pumps market.In the making of the mining pumps market study, the following are taken into:History Period: 2013 - 2017Base Period: 2013Estimated Year: 2028Forecast Period: 2018 – 2028Interested market participants and readers can peruse the global market keyword report to get insights into and evaluation of:Key growth drivers and restraints, trends and opportunities, and major challenges influencing the adoption rate of offerings by various players in the mining pumps marketMajor research and product development projectsPromising technologies and favorable regulations in key regionsSegments that will lose or gain shares in the next few yearsValue chain of key vendors and manufacturersRequest for the Sample of the Report: https://www.factmr.com/connectus/sample?flag=S_id=2416The mining pumps market report provides estimations and the market sizing and prospects of various regions.
To this end, the study segments the mining pumps market on the following capacity:Small (upt500 gpm)Medium (500-1000 gpm)High (more than 1000 gpm)Amelioration of Product Reliability Remains the Key Focal Point of ManufacturersThe report opines that leading manufacturers of mining pumps, in a bid to retain their brand equity, are focusing on upgrading the quality and efficiency of their products.
The Global Grinder Pumps Market Report, in its latest update, highlights the significant impacts and the recent strategically changes under the present socio-economic scenario.
The Grinder Pumps industry growth avenues are deeply supported by exhaustive research by the top analysts of the industry.
The report starts with the executive summary, followed by a value chain and Marketing channels study.
The report then estimates the CAGR and Market revenue of the global and regional segments.Base Year: 2020Estimated Year: 2021Forecast Till: 2027The report classifies the market into different segments based on type and product.
These segments are studied in detail, incorporating the market estimates and forecasts at regional and country levels.
The segment analysis is helpful in understanding the growth areas and potential opportunities of the market.Get | Download FREE Sample Report of Global Grinder Pumps Market @ https://www.decisiondatabases.com/contact/download-sample-1598A special section is dedicated to the analysis of the impact of the COVID-19 pandemic on the growth of the Grinder Pumps market.
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