Global Industrial Pump Rental Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Industrial Pump Rental Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Industrial pump is usually a heavy-duty process pump, which is used to transport many different types of products, including water, chemicals, petroleum, wastewater, oil, sludge, mud or food. In order to maximize the use of budget and storage space and save maintenance costs, enterprises can choose to rent Industrial Pump. This report studies the Industrial Pump Rental market.

Market Overview:

The latest research study on the global Industrial Pump Rental market finds that the global Industrial Pump Rental market reached a value of USD 2939.07 million in 2022. It’s expected that the market will achieve USD 4607.22 million by 2028, exhibiting a CAGR of 7.78% during the forecast period.

Influence of COVID-19 Outbreak on Industrial Pump Rental Industry Development

The outbreak and persistence of the COVID-19 epidemic will undoubtedly have a severe impact on the global oil industry in 2020. The sharp drop and rebound of oil demand have caused drastic fluctuations in global oil product inventories and oil prices.
The International Energy Agency warned that the impact of the epidemic on the energy system will continue for many years. This year, global oil demand will drop by 8%, and Brent oil prices will not reach the level of US$50 per barrel until 2023. If the policies and goals of various countries are implemented smoothly, global energy demand will also return to pre-epidemic levels in early 2023. If the epidemic prolongs and the decline deepens, this point will be postponed to 2025.
The oil and gas industry is one of the main downstream applications of Industrial Pump Rental. With the outbreak of the epidemic, the oil industry fluctuates sharply, the demand side and the supply side will be more cautious, and related investments have decreased, which will increase the risk of future market fluctuations. Affected by this, the Industrial Pump Rental market will also fluctuate, and market investment needs to be more cautious.
In order to curb the Covid-19 outbreak, most countries have introduced many policies, including border blockade and social distance. Epidemic prevention and control measures will affect the flow of people and activities, and then affect logistics. Transportation of Industrial Pump is restricted to some extent, and enterprises may not deliver Industrial Pump in time, which will affect orders. In the process of providing services, in order to protect the health and safety of employees, enterprises need to equip epidemic prevention materials and disinfect warehouses, which will increase the labor cost.

Strength

China is a growing market
The oil and gas exploitation industry is one of the industries that China encourages and supports. The National Development and Reform Commission's Thirteenth Five-Year Plan for Natural Gas Development and Thirteenth Five-Year Plan for Petroleum Development proposed that
During the Thirteenth Five-Year Plan period, the annual proven oil geological reserves increased by about 1 billion tons.
Conventional natural gas: during the 13th Five-Year Plan period, the proven geological reserves will increase by 3 trillion cubic meters, and by 2020, the accumulated proven geological reserves will be 16 trillion cubic meters. Shale gas: During the 13th Five-Year Plan period, the proven geological reserves increased by 1 trillion cubic meters, and by 2020, the accumulated proven geological reserves exceeded 1.5 trillion cubic meters. Coalbed methane: During the Thirteenth Five-Year Plan period, the proven geological reserves increased by 420 billion cubic meters, and by 2020, the accumulated proven geological reserves exceeded 1 trillion cubic meters. In 2020, the domestic comprehensive natural gas supply capacity will reach more than 360 billion cubic meters.
The Chinese government's support for the oil and gas industry will promote the rapid development of China's oil and gas industry. Oil and gas industry is one of the main downstream industries of Industrial Pump Rental, and the growing demand of downstream industries will drive the development of Industrial Pump Rental. China is a growing market.
The growing demand in the United States
With the rising confidence of residential builders, the number of residential buildings under construction in the United States has surged. According to the monthly housing construction report of the U.S. Census Bureau, after seasonal adjustment in September 2020, the number of housing starts was 1.4 million. This is an increase of 11% over the same period last year. This figure is also about 2% higher than the August level. In September, it also obtained 1.5 million building permits for new housing units with seasonal changes. Due to the low mortgage interest rate, despite the rising prices and intensified competition, many home buyers are still pushing ahead with their plans. It is expected that the new housing activities in the United States will grow strongly. Industrial Pump is widely used in the construction industry, so the strong construction demand in America will promote the development of Industrial Pump Rental industry.

Weakness

The overall cost of leasing is higher. Renting is almost always more expensive than buying commercial equipment. As time goes by, this price will exceed the direct purchase. Large industrial pump equipment will accumulate assets over time, especially when the equipment is well maintained. If enterprises choose to rental industrial pumps, it can only benefit from the rights and interests gained from the rented or rented equipment. When an enterprise directly buys an industrial pump, it owns the ownership of the equipment. Almost all commercial equipment is eligible for tax deduction through depreciation. If it is rented or rented, enterprises cannot take advantage of these tax benefits. These factors will affect downstream customers' demand for Industrial Pump Rental.

Region Overview:

Asia Pacific had the highest growth rate of all regions.

Company Overview:

Xylem, Ashtead Group Plc, United Rentals, Selwood and Thompson Pump are the five key players in the global Industrial Pump Rental market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Industrial Pump Rental market in the past 5 years.

Xylem, a leading global water technology company dedicated to solving the world's most challenging water issues, is the leading global provider of efficient, innovative and sustainable water technologies improving the way water is used, managed, conserved and re-used.

Ashtead Group plc is a British industrial equipment rental company formerly based in Leatherhead, Surrey, but which has since moved to new offices in the City of London.

Segmentation Overview:

Among different product types, Bypass pumping segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Municipal segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Industrial Pump Rental market covered in Chapter 3:

Power Zone Equipment, Inc
Ashtead Group Plc
United Rentals
Selwood
MWI
Holland Pump
Barco Pump
Tsurumi
Integrated Pump Rental
Global Pump
Action
Thompson Pump
Xylem

In Chapter 4 and Chapter 14.2, on the basis of types, the Industrial Pump Rental market from 2018 to 2029 is primarily split into:

Bypass pumping
Dewatering
Wastewater (surface mounted) pump
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Industrial Pump Rental market from 2018 to 2029 covers:

Oil and gas industry
Chemical industry
Mining industry
Power industry
Construction
Municipal
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)