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Industrial Pumps Market Key Trends, Competitive Landscape, Regional Analysis ,Business Opportunities

 The global industrial pumps market will record a moderate but steady growth rate, compounded annually, over the period of 2018 to 2028, notes Transparency Market Research. There are various growth factors driving the market forward. Some of these are increase in refinery capacity, increase in exploration and extraction activities, and stringent government norms regarding production of low sulfur fuels. As up-gradation demand grows for existing infrastructure, demand for industrial pumps would witness an upward facing growth curve, driving the global industrial pumps market forward. Additionally, it is also important to note here that new opportunities will be found in the landscape and the overall growth atmosphere would lead the market to a higher valuation over the stated forecast period.

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Global Industrial Pumps Market: Competitive Landscape

The global industrial pumps market is quite competitive with players dabbling with a number of measures taken with an aim at acquiring a larger market share.The slightly fragmented vendor landscape is set to witness growth owing to these measures.

Companies that are dominant in the global industrial pumps market are Flowserve Corporation, Grundfos Holding A/S, KSB AG, ITT Inc, Sulzer Ltd., Ebara Corp., Weir Group plc, Schlumberger Ltd., Baker Hughes, Inc, Clyde Union, Inc., Dover Corporation, among others.

The global industrial pumps market players are highly reliant on safety and efficacy of products and therefore it is easy to understand why technological advancement and innovation play a key role here. Besides, various other organic and inorganic strategies are also deployed time and again in order to beat the competition. These include alliances based on mutual synergies. Some of these are mergers and acquisitions and partnerships and collaborations. Product development and improvement also holds prominent players in the overall growth strategies opted for by these players.

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