IIoT Drives Disruptive Innovations and Growth Hubs in Digital Solutions for the Global Gear Pump Sector
New pump-as-a-service business models lead OEMs toward transformational growth
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This study analyzes the global gear pump market and its growth prospects in the short, medium, and long terms. The COVID-19 pandemic has created unforeseen circumstances for businesses around the world, affecting overall growth of the manufacturing sector. This research offers a growth outlook for the global gear pump market from 2021 to 2025.
The gear pump sub-products included in this study are internal and external gear pumps, which differ in design. The internal gear pump has an outer gear that drives the inner gear when it turns. In the external gear pump, the gears rotate against each other.
Importantly, this research offers 4 lucrative growth opportunities for pump OEMs to consider in the global market. Frost & Sullivan identifies these growth opportunities as key enablers that will unlock new revenue streams and deliver differentiated pump products and services.
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