Global Industrial Pump Control Panels Market to Touch over US$1.5 Billion by 2025, According to QY Research

Global Industrial Pump Control Panels Market Professional Survey Report 2020

Global Industrial Pump Control Panels Market Report 2020

Industrial Pump Control Panels Market-New Research Report Announced with business priorities in order to assist companies to realign their business strategies.

LOS ANGELES, CALIFORNIA, UNITED STATES, January 3, 2020 /EINPresswire.com/ — QY Research has added a new report to its archive of machinery and equipment market research studies. Titled “Global Industrial Pump Control Panels Market Professional Survey Report 2019,” the report offers deeper insights into key trends, growth drivers and restraints, competition, segmental growth, regional expansion, and other important subjects. As per the report, the value of the global industrial pump control panels market is projected to increase to over US$1.5 Bn by 2025. The global industrial pump control panels market could expand at a healthy CAGR of 6.0% between 2019 and 2025. In 2018, the global market value reached above US$1.0 Bn.

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High Demand for Fire Safety Systems to Create Opportunities: Key factors supporting the growth of the global industrial pump control panels market are:

● Rise in the demand for fire safety systems such as fire pumps and their monitoring systems
● High industrial growth in leading regional markets
● Launch of more advanced products and increase in the adoption of IIoT by manufacturers
● Implementation of National Fire Protection Association standards in the industrial sector
● Growing rate of urbanization leading to the improvement in the demand for different types of pumps and their control panels in developing countries

Increase in Use of Industrial Pump Control Panels in Water and Wastewater Industry: The report provides exhaustive analysis on important product type segments of the global industrial pump control panels market, viz. three phase and single phase. The global industrial pump control panels market is also segmented on the basis of application. Key application segments covered in the report are mining, chemical and petrochemical, oil and gas, water and wastewater, and others including power. The demand for industrial pump control panels is projected to improve in water and wastewater applications such as well stations, dewatering systems, and sewage systems.

Strong Demand for Industrial Pumps in North America: Some of the leading growth drivers of the industrial pump control panels market in North America could be:

● Growing use of IIoT-enabled equipment in the water and wastewater industry
● Implementation of high industrial fire protection standards
● Strong demand for fire pumps to avoid fire accidents at manufacturing facilities and residential locations
● High requirement for industrial pumps in water and wastewater treatment applications

Expected Nature of Competitive Landscape: Moderately Fragmented

Key players operating in the global industrial pump control panels market are Grundfos, Guangzhou Baiyun Pump Group, Primex, Xylem, Zenit, Sulzer, Eaton, Infiltrator Water Technologies, ABB, Franklin Electric, Siemens, Zoeller, Rockwell Automation, Tsurumi Pump, KSB, and Ebara. Global players are anticipated to benefit from the implementation of government initiatives to improve water use, supply, treatment, and sanitation in Europe and Asia Pacific. The water and wastewater treatment industry could be one of the main focuses of leading manufacturers in the global industrial pump control panels market.

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Source: EIN Presswire