MarketResearchNest.com adds “Global Industrial Pump Rental Market 2017-2021” new report to its research database. The report spread across 78 pages with table and figures in it.
Research analysts forecast the global industrial pump rental market to grow at a CAGR of 8.24% during the period 2017-2021.
About Industrial Pump Rental
The global industrial pump rental market comprises pumps that are procured by industries on a contract basis for a particular period or until the completion of a project. Vendors provide pumps, its machinery, and tools of all kinds and sizes that are required by the end-users for a limited period. Rented pumps are an attractive option for end-users when compared with the outright purchase of new pumps. This is because renting of pumps helps reduce costs and allows end-users to get assistance from pump manufacturing experts in reviewing the condition of pumps on a timely basis.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial pump rental market for 2017-2021. To calculate the market size, the report considers sales, replacement, and services market.
Browse full table of contents and data tables at https://www.marketresearchnest.com/global-industrial-pump-rental-market-2017-2021.html
The market is divided into the following segments based on geography:
Technavio’s report, Global Industrial Pump Rental Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Industrial Pump Rental Market 2017-2021
Technavio recognizes the following companies as the key players in the global industrial pump rental market: Xylem, MWI, United Rentals, Cornell Pump, and Thompson Pump.
Other Prominent Vendors in the market are: Holland Pump, Integrated Pump Rental, Selwood, ACTION, Global Pump, Barco Pump, and Tsurumi.
Commenting on the report, an analyst from Research team said: “One trend in the market is increasing merger and acquisition activities. The global industrial pump rental market is highly fragmented with various vendors spread across the world. In this situation, the top vendors partner with the medium and small pump manufacturers to deliver the best of the pump rental products at reasonable costs to the end-users.”
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According to the report, one driver in the market is higher flexibility in terms of movement and labor requirements. The pump rental services are highly flexible, and the pumps are made available to the end-users at any time of the operation. Any difficulty faced by the pumps are being cleared by the experts provided to the end-users by the manufacturers of pumps. During a harsh process, if any part of the pump is damaged, it becomes very difficult to service it or to replace the pump, and due to this, the entire operation suffers. But when the company rents a pump, it can be serviced or replaced at any stage of the operation.
Further, the report states that one challenge in the market is renting pumps can be cumbersome for end-users. Renting the pumps can be challenging for the end-users as well. In the case of long duration contracts with the pump rental vendors, the end-users end up paying more money when compared with buying a new pump. The rent of the pumps remains the same during the entire operation. Also, the industries that have a low production capacity tend to spend a huge amount on procuring the pumps on rent for a small output. Therefore, the companies require a considerable amount of production to justify the amount spent on the pump rentals.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Key questions answered in this report: What will the market size be in 2021 and what will the growth rate be; What are the key market trends; What is driving this market; What are the challenges to market growth; Who are the key vendors in this market space; What are the market opportunities and threats faced by the key vendors; What are the strengths and weaknesses of the key vendors;
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Mr. Jeet Jain