End-users performance in the global industrial pump rental market?

The global industrial pump rental market is expected to grow at a CAGR of 7.26% during the forecast period. Based on end-user, the global industrial pump rental market has been segmented into industrial, water utility, and construction.

The industrial segment includes the use of rental pumps in industries, such as food and beverage, pharmaceutical, automotive, electronics and semiconductor, oil and gas, chemical, power, and mining. The demand from oil and gas and chemical and mining industries accounted for the major share of the global industrial pump rental market. But the demand from pump rental services witnessed strong growth in the food and beverage, pharmaceutical, automotive, and electronics and semiconductor industries when compared with that in mining and metals and oil and gas industries.

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The increasing investments in the electronics and semiconductor and food and beverage industries were responsible for the stable growth of the industrial segment in the global industrial pump rental market. However, the increasing need to reduce the overall OPEX and CAPEX in these industries will further propel the demand for pump rental services during the forecast period. The growth in upstream oil and gas activities and new E&P investments are expected to have a significant impact on the demand for pump rental services, which is expected to drive the growth of the global industrial pump rental market during the forecast period.