The Global Slurry Pump market has witnessed an astronomical growth over the past few years owing to the factors such as rising deployment of slurry pumps for numerous industrial applications such as coal washing, fly ash pumping, and pumping reactor feed, strong growth in the mining industries across the globe, and extensive adoption of pumps in mining industries for slurry transportation. Moreover, the growing application in the verticals such as oil shale, water & sewage utilities, construction, and sand & gravel in developing countries such as India and China and escalating technological advancement in order to enhance performance and increase productivity are the key factors anticipated to upsurge the growth of the market in the forecast years.
According to MarkNtel Advisors’ research report titled “Global Slurry Pump Market Analysis, 2020”, the Global Slurry Pump market is anticipated to grow at a CAGR of around 1.2% during 2021-26. Based on Type of Pumps, Vertical Slurry pumps acquired the substantial market share in 2020. Heavy duty pumps acquired the considerable market share in vertical slurry pumps owing to its burgeoning applications in mining industry, coal mines, Ash Handling Plant, M-sand Plant, and Granite Plants, due to its features such as being low maintenance, having a long life, with less wear and tear, and having low power consumption.
“Global Slurry Pump Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Slurry Pump providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Asia-Pacific Registered the Fastest Growth
Asia-Pacific registered the fastest growth in Global Slurry Pump market in 2020. The growth is attributed to robust urbanization and industrialization, rising adoption of technologically advanced pumps in mining industry, and burgeoning government spending on infrastructure development. India and China are the major contributors in the growth of slurry pump market in Asia Pacific region. Rapid growth in construction and petroleum sectors, launch of innovative slurry pumps, and escalating demand for pumps in coal mining are anticipated to bolster the growth of the Slurry Pump Market in the forthcoming period as stated in MarkNtel Advisors’ research report “Global Slurry Pump Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the Global Slurry Pump market are ITT Goulds Pumps Inc., Metso Minerals AB, KSB, Inc., Weir Group, Flowserve Corporation, EBARA Pumps S.p.A, Keystone Pumps, Libra Fluid Equipment Co. Ltd., Multotec Group, Xylem Water Solutions AB, Grindex AB, Schurco Slurry etc.
Key questions answered in the study: