Due to high demand for mechanical seals in China and India, the Asia Pacific region is out performing other regions. Asia pacific registered 40.6% of the pump sales. Europe accounted for 29.2% of the total sales. North America’s market is expected to grow by 0.5% this year.
According to Frost & Sullivan Industrial Automation & Process Control Industry Analyst Arun Prasath, “As technology steers the market toward predictive maintenance and diagnostics, manufacturers should tap into a growing demand for efficient, automated, smart pumps that are environment-friendly and can seamlessly integrate with smart grids and Internet of Things.”