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. Significant upsurge in mining activities across the globe, driven by proactive investments, is likely to be responsible for the unabated rise in demand for mining pumps. 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 Manufacturers
The 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. The product was a durable and super-high head pump meant for transporting chemically-aggressive mine water. Apart from this, manufacturers are also vying to make their products capable of making a notable contribution toward enhancing efficiency of a mine, primarily in terms of energy consumption.
According to the research study, the sales of mining pumps with small capacity (up to 500 gpm) remain the highest with an estimated figure of 2,404,279 units by 2018-end, followed by medium and high capacities. As per the Fact.MR report, the mining pumps sales in APAC remain an all-time high, both in 2017 as well as 2018. Leading manufacturers of mining mumps market are vying to expand their business footprints across regional markets of APAC, especially in China, owing to the presence of advanced manufacturing technologies and cost-effective products as compared to the developed economies. North America and Eastern Europe trail the former as the second and third attractive regions for market players to consider in terms of investments opportunities.
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Mining Pumps Market Represents a Moderately-consolidated Landscape
As per the report, the mining pumps market represents a moderately-consolidated landscape, with the collective share of tier 1 and tier 2 players being around 60-70%. The top 6 companies in the mining pumps market, namely Xylem, Flowserve Corporation, KSB SE & Co. KGaA, Weir Group, Sulzer Ltd., and GRUNDFOS, hold around 40-48% share and these brands are driven by their robust product portfolios. Unbeatable operational excellence combined with new developments in tune with the latest trends enables these players to retain their market buoyancy.
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.
Significant upsurge in mining activities across the globe, driven by proactive investments, is likely to be responsible for the unabated rise in demand for mining pumps.
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.Each segment of the keyword market has been individually analyzed on the basis of pricing, distribution, and demand prospect for the following regions:North America (Canada, US)Latin America (Argentina, Mexico)Europe (NORDIC, UK)Japan and MEAAPEJ (China, India)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.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.
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.Read Report Summary: https://www.factmr.com/report/2416/mining-pumps-marketRapid permeation across prominent customer segments with operational excellence remains one of the key focus areas of the leading players in the mining pumps market.
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.
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.
Leading players have made notable efforts to highlight prominence of these technologies for boosting performance of the next-generation mining pumps.Request for Report Methodology: https://www.factmr.com/connectus/sample?flag=RM_id=2416Investments in new mining projects and amelioration of existing projects across various regions have revved up by a significant margin.
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.
