What is Pump Packing Market?
Pump packaging refers to sealing which reduces the leakage to the external atmosphere from the pumps and helps to improve the overall efficiency of the piping system. Pump packaging market has high growth prospects owing to increasing demand from the chemical and oil & gas industry. Market players are focusing on providing compact packaging for the pumps. Further, rising demand from the developing economies owing to growing industrialization expected to drive the demand for pump packaging over the forecasted period.
The market study is being classified by Type (Carbon Packing and PTFE Packing), by Application (Residential and Industrial) and major geographies with country level break-up.
EagleBurgmann Germany GmbH & Co. KG (Germany), Slade Inc. (United States), Carrara S.p.a. (Italy), WL Gore&Associates (United States), Donit Tesnit (Slovenia), American Braiding & Manufacturing (United States), Flexitallic L.P. (United States), EnPro Industries (United States), Utex Industries (United States), James Walker (United Kingdom) and Nippon Pillar Corporation of America (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Latty International (United Kingdom), John Crane (United States) and Speco (United States).
Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Pump Packing market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Pump Packing market by Type, Application and Region.
On the basis of geography, the market of Pump Packing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising Demand of Pump Packaging System for Industrial Plants
- Increasing Application in the Oil and Gas Industry
Market Trend
- Emphasizing On Development of Compact Packaging for Pumps
- Technological Advancement in the Pump Packaging
Restraints
- High Cost Associated With Pump Packaging
- Stringent Government Regulations Regarding Pump Packaging
Opportunities
- Increasing Demand for the Residential Applications
- Rising Demand from the Developing Economies
Challenges
- Lack of Awareness in the Low and Middle Income Group Countries
Key Target Audience
Pump Packing Providers, Associations, Organizations, Forums, and Alliances, Government Bodies and Departments, Research Institutes, Business Consulting Firms and Others