LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global industrial pump market since 2017 and the market is poised to grow by USD 1.54 billion during 2020-2024, progressing at a CAGR of more than 7% during the forecast period. Request free sample pages
Read the 154-page report with TOC on “Industrial Pump Rental Market Analysis Report by End-Users (industrial, water utility, and construction), Type (centrifugal pumps, positive displacement pumps, and other pumps), Geography (APAC, Europe, MEA, North America, and South America), and the Segment Forecasts, 2020-2024”.
The market is driven by the increasing benefits of pump rental services. In addition, innovations in service delivery are anticipated to boost the growth of the industrial pump rental market.
Volatility in the market often discourages companies in the oil and gas and automotive industries to make large-scale capital investments. In addition, uncertainty in the global economy and growing emphasis on reducing operational costs is driving end-users to rent equipment rather than purchase. Equipment rental also allows contractors and operators to access the latest smart pumping technologies at cost-effective rates. Moreover, advantages such as flexible work delivery setup, professional services and consulting, timely service responses, and a wide range of product availability for fluid handling systems provided by pump rental service providers are fueling market growth.
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Major Five Industrial Pump Rental Companies:
Ashtead Group Plc
Ashtead Group Plc owns and operates its business across segments such as Sunbelt US, A-Plant, and Sunbelt Canada. The company offers industrial pump rental services through its subsidiary, Sunbelt Rentals.
Franklin Electric Co. Inc.
Franklin Electric Co. Inc. owns and operates its business across segments such as Water Systems, Distribution, and Fueling Systems. The company offers industrial pump rental services through its subsidiary, Pioneer Pump.
Holland Pump Co.
Holland Pump Co. manufactures and markets a wide range of pumps and generators. It also offers pump and fuel tank rental services. The company offers dewatering pumps that are rented to customers on a daily, weekly, and monthly basis. The company maintains its rental service branches in Florida and South Carolina in the US.
KSB SE & Co. KGaA
KSB SE & Co. KGaA owns and operates its business across segments such as pumps, valves, and service. The company offers installation, commissioning, start-up, inspection, servicing, maintenance, and repair services for pumps, valves, and associated components through its KSB SupremeServ brand.
Mersino Dewatering Inc.
Mersino Dewatering Inc. provides pumping, one-pass trenching, contract dewatering, power generation, water filtration and treatment, and drilling services in the US and Canada. The company offers a wide range of rental pumps, under its brand Global Pumps. Some of the products offered by the company include Global Trash Series Pumps, Global High Head Series Pumps, Global Wellpoint Pumps, and Global Submersible Pumps.
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Industrial Pump Rental End-Users Outlook (Revenue, USD Billion, 2020 - 2024)
- Water utility
Industrial Pump Rental Type Outlook (Revenue, USD Billion, 2020 - 2024)
- Centrifugal pumps
- Positive displacement pumps
- Other pumps
Industrial Pump Rental Regional Outlook (Revenue, USD Billion, 2020 - 2024)
- North America
- South America
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