APRIL 20238PANORAMATOP TRENDS IN INDUSTRIAL PUMP MARKETThe Industrial pump market has always experienced consistent growth across the globe, but the next decade could yield an even higher demand. As improved infrastructure development continues to be a priority for numerous countries, the need for quality industrial pumps will increase drastically as well. Other factors expected to heighten the demand of the industrial pumps market include growth in several end-use application segments, increased opportunities in different regions throughout the globe, and the growing demand for centrifugal industrial pumps.In India, the industrial pumps market is expected to reach over $2 billion by 2026. Water & wastewater, chemical, pharmaceutical, construction, food & beverage, and mining are the major end-users in India. Factors such as the increased focus on energy-efficient products in the water and wastewater industry, the development of generic pharmaceutical production, rapid urbanization, and the rise in massive housing schemes and expansion in infrastructural projects are likely to influence the growth of industrial pumps in India. In this article, we have explored the major trends in the industrial pump market that will take center stage in the days to come.Digitization of Pumps: Internet of Things (IoT) is an emerging digital solution that has revolutionized the $2.8 trillion and $6.7 trillion worth smart infrastructure sector.
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