Introduction
Growing expenditure on infrastructural development across the globe is augmenting the demand for pumps and machinery. The industry that manufactures pumps and machinery produces both industrial and domestic products. Economies are adopting modern pumps and machinery for domestic purposes and in several end-use industries. Several factors determine the growth of this industry are:
- Globalization
- Ever-evolving technology
- Manpower challenges
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Industry Trends
Pumps and machinery market keeps on changing due to certain modifications that occur as a result of the ongoing trends. Major trends have engulfed the market and are changing the way things used to be.
Automation has reached almost every sector of the economy and industries are vying to build smart solutions for their consumers. In the case of pumps and machinery, users are coming up with the demand for intelligent systems. Many manufacturers are expected to adopt the idea of producing intelligent pump systems and machinery to capture this changing market. The basic need of the consumers is to get silent, energy-efficient and high-performance systems.
Surging demand from the end-use industries has resulted in fluctuation in the component prices of industrial pumps and machinery. It is also expected to affect capital investment. Market leaders are investing in strategic activities like mergers and acquisitions to keep the cost of manufacturing processes low. With this trend comes a high demand for industrial pumps.
manufacturers have realized the importance of complying with environmental regulations while manufacturing their products. Even the consumers (domestic and industrial) are looking for environment-friendly pumps and machinery. But this trend is also anticipated to limit the demand for these products.
Which of our Products can serve your Brand?
DWAM
Pumps and machinery are one of those products that can’t be sold if they don’t come with a warranty. But providing the users with a warranty is not enough for the brand owners since there are many strings attached to it that can make the product a flop. Manual provision and management of warranty is a thing of the past because DWAM is the new strategic solution. This digital warranty management system is the one-stop solution for every brand owner. DWAM is especially beneficial for the consumers who are not so educated and retailers/distributors can help them in registering the product’s warranty through this platform and assist them in earning reward points.
Rewardify
Products like pumps and machinery require a proper supply chain to reach the end-users. There can be cases where your retailers and distributors aren’t satisfied with the value they get in return for supplying your products. Rewardify by Genefied is the new way to retain the retailers and distributors by keeping them satisfied through the QR code-based loyalty programs.