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Pump Casting Market Segmented By pump type such as Dynamic Pumps, Centrifugal Pumps, Axial Pumps, Radial Flow Pumps, Positive Displacement Pumps, Rotary Pumps, Reciprocatory Pumps, Linear Type Pumps with Silical sol, Sand and Die casting type
Pump casting is a process of designing and casting of the pump components based on different metals and metal alloys. Such process of pump casting enhances the strength and corrosion resistance. Pump casting is applied over important parts of pumps such as casing, impeller and other body parts or components. The implementation of technology in foundries to stimulate melting process and deployment of advanced furnaces plays a significant role in the pump casting market.
The pump casting companies are investing in state of the art machines and technology to offer precision, process consistency, automated process monitoring and reduce labor costs. The current end use industry sectors require the custom manufactured pump products to meet the requirement for the specific applications and to provide augmented efficacy for the required end use application. The customers for the steel casting products now a days are more inclined towards the custom pump casting products.
The rising trend in the export of pump casting products from India, China and Indonesia has been a notable trend where the tier-1 pump OEMs around the globe have procured the pump casting products and assembled to shape the final product thus saving the manufacturing overheads to a good extent and driving the profitable growth.
The export based markets have proved to a major source of revenue generation for the pump casting companies which is expected to continue in the long run. The government initiatives, export tax rebates and other subsidies is boosting the manufacturing sector which is enhancing the manufacturing across the numerous end use industry providing a wide range of target customers. This acts as a key driving factor for the growth of pump casting market.
The pump casting companies are looking precision casting which is expected to offer high quality casting products along with customer retention and in gaining new pump casting projects. The companies are increasing the reliability of the products of the company, many manufacturers are keen towards acquiring the quality certifications for their products as well as for the company.
The pump casting companies in developing economies are planning for certifications such as TUV Nord certification and the ISO 9001:2008 are the two most sought after certifications form the pump casting manufacturers.
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The growth in export of pump casting towards North America and Europe is one of the key factor that is driving the global pump casting market. The pump manufacturers from countries in USA, UK, and other European countries are looking to acquire pump casting companies and it will have a major impact in the global pump casting market. The manufacturing hubs of BRICs countries such as China, India and Brazil is expected to witness a healthy growth for the pump casting market.
The South East Asian countries are expected to grow with a swift pace due to the well-known pump casting in southern part of India, Indonesia, Vietnam, etc. which is further driven by heavy growth in the end use sectors. Such a growth trend will provide a substantial customer base to the pump manufacturing companies.
In addition to that, the pump manufacturers are initiating new production bases in countries such as Vietnam and Indonesia which will strongly support the growth of pump casting market. With India being the third largest steel producer and a prominent exporter of the steel, the government is focused towards the further development which will drive the pump casting market
Some of the key market participants in the global pump casting market are:
The pump casting market research report presents a comprehensive assessment of the pump casting market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The pump casting market research report provides analysis and information according to market segments such as geographies, pump type, casting type, material type, size and manufacturing category.
The pump casting market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The pump casting market report also maps the qualitative impact of various market factors on market segments and geographies.