Strong Replacement Demand and Smart Pump Adoption Fuel a 11.39% CAGR in the Global Pump Market - ResearchAndMarkets.com
Strong Replacement Demand: The replacement sector is driving the demand for aftermarket pump parts and services.
- Strong Replacement Demand: The replacement sector is driving the demand for aftermarket pump parts and services.
- The global pump market is witnessing increased sales of modern and efficient water pumps, particularly in applications like agriculture.
- Centrifugal Pumps: Dominating the global pump market, centrifugal pumps are widely used for pumping water, thin liquids, and slurries across various industries.
- The global pump market boasts a highly competitive landscape, with both public and private companies vying for market share.