Solution providers to gain a competitive edge over equipment providers, finds Frost & Sullivan's Industrial Automation & Process Control Team
SANTA CLARA, California, Jan. 4, 2017 /PRNewswire/ -- The construction boom and green consciousness in North America have set up the commercial pumps market for robust growth. The popularity of green building technologies in the construction and infrastructure sectors has created a vast market for remodels and retrofits. This environment is encouraging the development of advanced pump designs with more electronic features, which augment system integration and system efficiency.
Strategic Analysis of the North American Commercial Pumps Market is part of Frost & Sullivan's Industrial Automation & Process Control Growth Partnership Subscription. The analysis finds that among the various types of pumps, single-stage pumps have the largest share. However, the share of multi-stage pumps is likely to increase in the long term, due to the requirement for pressure boosting applications.
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"Stringent environment legislations and a gradually recovering economy are boosting the construction sector, especially the non-residential segment," said Frost & Sullivan Industrial Automation & Process Control Research Analyst Shilpa Mathur Ramachandran. "This trend will stoke demand for commercial pumps in applications such as pressure-boosting and drainage and sewage."
Despite the efforts of pumps manufacturers to introduce energy-efficient pumps, the high price sensitivity in the market deters end users. Furthermore, the North American market could face stiff competition from European and Asian imports due to their perceived higher quality and competitive prices.
"To counter the main industry challenges, market majors need to evolve into the roles of solution providers rather than remaining stand-alone equipment providers," noted Ramachandran. "Apart from offering end-to-end solutions, companies can stand out by working with clients to understand their pain points and delivering customized solutions."
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SOURCE Frost & Sullivan