Mining Pumps Market: Evolving Demand for New Age Commodities to Create Untapped Opportunities

Posted on 2019-07-02 by Mark Hub in Industrial // 0 Comments

Rockville, USA, 2019-Jul-02 — /EPR Network/ — Fact.MR’s new report on mining pumps market sheds light on compelling insights with regard to the dynamics of mining pumps market, including drivers, restraints, trends, and opportunities. The report on mining pumps system market pinpoints the market size, both in terms of value as well as volume particulars along with key factors determining the market size of mining pumps market. Additionally, the report on mining pumps market also offers a detailed analysis of the market along with a comprehensive segmental analysis and regional growth matrices.

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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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.

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).

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.

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.

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