A recent report released by Fact MR on the mining pumps market provides extensive coverage of key factors and market growth that are driving the sustained growth of the market landscape around the world. The report states that a significant increase in mining activities globally, pushed by proactive investments, may cause a constant rise in the demand for mining pumps. By the end 2018, the sales of mining pumps had probably exceed more than 3.5 million units.
A senior analyst from the company explained that the expansion of existing mining projects and new mining projects had generated demand for new machinery and equipment, thus providing enough belief to the fact that the demand for mining pumps will grow at a remarkable pace.
The report suggests that the top mining pump manufacturing companies are focused on improving the efficiency and quality of their products in an attempt to keep their brand equity. A good example of this would be the first stainless steel pump that had been designed for mining applications; Flygt 2400 was introduced by Xylem in 2016. The Flygt 2400 is a durable pump that can be used to transport mine water that had been chemically contaminated.
Aside from this, leading manufacturers are also working on developing products that help boost a mine’s efficiency, especially with regard to the consumption of energy.
The Fact.MR report states that the sale of mining pumps in Asia Pacific was at an all-time high in both 2017 and 2018 while the research study shows that mining pump sales of small-capacity pumps are the highest in number, with more than 2.4 million units being sold by the end of 2018.
Top mining pumps manufacturing markets are looking to expand their businesses across regional markets of the Asia Pacific, particularly in China, on account of cost-effective products and the existence of advanced manufacturing technologies. Eastern Europe and North America follow China as other attractive regions for the leading companies to consider as investment opportunities.
The leading firms in the mining pumps market include GRUNDFOS, Sulzer Ltd., Weir Group, KSB SE & Co. KGaA, Flowserve Corporation and Xylem. These companies occupy roughly 40–48% of the market share and are driven by their strong product profile. New developments that keep up with the latest trends combined with unsurpassed operational excellence allows these firms to maintain their market strength.
Apart from this, the analysis the Fact.MR report conducted on the mining pumps system market and its growth for the prediction period of 2018 to 2028 showed that the market will grow at a compound annual growth rate of roughly 2.9% in that period.
Meanwhile, the fortunes of Canada-based Josemaria Resources Corp. (TSX: JOSE) (OTCQB: JOSMF) are looking good as well. The company has started planning the basic engineering requirements of its solely owned Josemaria gold and copper mining property in Argentina.
NOTE TO INVESTORS: The latest news and updates relating to Josemaria Resources Inc. (TSX: JOSE) (OTC: JOSMF) are available in the company’s newsroom at https://ibn.fm/JOSMF
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