Mining Pumps Market In-Depth Analysis with Booming Trends Supporting Growth Till 2028

Posted on 2019-10-07 by Mark Hub in Industrial // 0 Comments

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. Mining pump sales are likely to surpass 3.5 million units by 2018-end.

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.

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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.

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.

The ability of a smart pumping system to achieve efficiency and productivity is enhancing its appeal among the mining operators and plant managers. Being an integral part of a mining plant, mining pumps are being increasingly deployed across greenfield and brownfield projects evolving in the mining sector. As per the report, the rising need for convergence of intelligence with pumping systems is leading to wide-spread embracement of concepts like IOT and Industry 4.0 in the pumping infrastructure.

Incumbency has been identified as one of the key competitive tools of the companies operating in the mining pumps market. In this scenario, an entrenched supplier with an affluent relationship with the customers can gain revenue benefits from not only replacement demands, but also from rising sales for expansion or new project-related activities. Moreover, product reliability and competitive pricing are some of the prominent differentiators of the leading market players. The report also opines that focus on specific pump types remains one of the key focal points of manufacturers to gain significant profit margins

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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.

Resurgence of Mining Sector with Hefty Investments in Greenfield and Brownfield Projects Spur Demand

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).

Evolving Demand for New Age Commodities to Create Untapped Opportunities

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.

Ease of Installation and Optimal Performance – Key USPs Spurring Sales of Centrifugal Mining Pumps

Cost-effectiveness and easy installation are two of the key attributes enhancing the appeal of centrifugal mining pumps. Easy installation, coupled with superior performance attributes, are the key factors scaling up the popularity of centrifugal mining pumps.

However, high maintenance and controlling issues in case of low flow rates are few of the prominent factors that might pose challenges apropos of adoption. Minimal cost-effectiveness, as compared to other mining pump types, is another key factor that might also confine the adoption of centrifugal mining pumps.

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The competitive landscape of mining pumps market provides a quick overview of the key players operating in the mining pumps market, along with their key developments. Moreover, it also talks about the key differential strategies being adopted by these players to retain their buoyancy in the mining pumps market. Two notable developments include,

Flowserve Corporation entered into a global partnership with Azima Inc. in the year 2017. This partnership delivers an exclusive predictive maintenance solution for industrial pumps as well as other rotating equipment.
Xylem Inc., a key player in the mining pumps market, acquired PIMS Group of the U.K in the year 2013. This acquisition is aimed at adding an industry-leading service capability built on PIMS’ talent, tools and processes.

About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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