Pumps Market Analysis

The global pumps market is expected to witness a category spend growth of more than USD 17 billion between 2018-2023, with spend momentum accelerating at a CAGR of 5.48% during the forecast period. The spend momentum for pumps category is estimated to increase substantially, owing to the high demand for centrifugal pumps from the water treatment industry. This variety of pumps find extensive applications for water management and water cycling purposes. Centrifugal pumps will continue being one of the most dominant segments of the pumps market owing to its energy efficiency, and the adoption of micro disc pumping and variable frequency drive technology for centrifugal pumps. These factors are expected to drive the growth of the global pumps market size during the forecast period.

In terms of category spend, APAC holds the largest share in the global pumps market. India and China together are expected to account for more than half of the total demand for pumps in the region during the forecast period. Growing industrialization, infrastructure development, and increasing investments in utility projects such as wastewater treatment and recycling are expected to drive the demand for positive displacement pumps, thereby fueling category spend in the region.

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Insights Offered in this Pumps Market Report

Written from the perspective of the buyers and suppliers, this procurement intelligence report offers comprehensive coverage of the factors driving spend across various regions and helps buyers to identify opportunities for cost savings. To help buyers procure pumps at cost-effective rates, an analysis of the pricing outlook and supplier cost structure is also offered in this report.

Insights offered in this pumps market report will help the buyers understand:

• Global and regional spend potential for the period of 2018-2023
• Top pumps suppliers and their cost structure
• US market supply scenario
• Pumps market prices, price trends, and forecasts
• Incumbent supplier evaluation metrics

Pumps Market Price Trends

This procurement intelligence report contains in-depth pricing insights for the procurement of pumps. These pricing insights provide an overview and comparison of pricing models, supply chain margins, and the volume and cost drivers impacting pricing:

• Factors such as a demand-supply imbalance of steel and rise in the prices of iron ore across the world are expected to drive category prices during the forecast period.
   
• Growing competition in the market has forced suppliers to invest heavily in R&D activities to develop advanced products. This is expected to increase procurement costs for buyers.
   
• The growing need for sustainability has compelled pumps suppliers to manufacture products that comply with regulations set by environmental and regulatory bodies. This is expected to increase their compliance costs, which is impacting their cost structure.

For additional pumps category price insights, download a free sample report now.

Optimize Category Spend for the Pumps Market

The functionality of pumps is subjective to their periodic maintenance and repair. However, this can be a recurring expenditure for buyers in the long run. Collaborating with service providers that offer comprehensive and prompt post-sale services such as regular maintenance and repair of pumps will reduce the chances of equipment failure while saving buyers additional costs.

To help category managers optimize their spend on pumps, this report also offers:

• Category management strategies and objectives
• Supplier and Buyer KPIs
• Outsourcing category management activities
• Risk management
• Cost-saving opportunities

Assess Category Spend for the US Region

The recent increase in oil and gas extraction that involves drilling and production activities in the upstream sector in the US will continue creating a high demand for pumps during the forecast period. However, the growing supply deficit of steel will significantly increase the price of pump components in the region.

Additional information offered in this pumps market procurement intelligence report will help buyers analyze:

• Pumps supply market overview in the US             
• Margins of suppliers and category cost drivers
• Category spend potential in the US

Build Strategies for Effective Supplier Selection

Production capacity is one of the critical supplier selection criteria that testifies the supplier's ability to meet demand and handle demand fluctuations. Suppliers are expected to exhibit a prominent supply chain management that features multiple vendors for the procurement of raw materials and an efficient distribution channel.

This pumps market procurement intelligence report identifies the major costs incurred by suppliers and provides additional information on:

• Supplier ecosystem
• Buyer and supplier KPIs
• Incumbent supplier evaluation metrics

Devise Effective Category Management Strategies for Pumps Market

Supply assurance is critical in the category as pumps are critical for the functioning of buyers' production facilities. Any defect or inconsistency in operations of pumps will contribute to buyers' loss. Category managers are advised to procure from suppliers that offer cost-effective and comprehensive warranty and service support. This can minimize their maintenance cost, which in turn can minimize their TCO.

Key insights offered in this pumps market procurement intelligence report will help the buyers identify:

• Critical KPIs for buyers and suppliers
• Category management objectives and risk management strategies
• Sustainability practices
   

Pumps supply market overview and insights of major risks faced while procuring pumps is offered in this report. Download a free sample to access the report's complete scope of coverage.