This study analyses the size, drivers, restraints, trends, opportunities, and competitive environment of the Australian industrial pumps market from 2017 to 2024. The Australian industrial pumps market is undergoing significant changes in its competitive and technological environment. Driven by the demand from key end markets and for technological capabilities in operational efficiency, the pumps market in Australia is expected to record steady long-term growth. Recovery of the mining industry in the country is expected to make mining applications a major contributing end market, as the demand for pumps increases with the opening of new mines and expansion of existing ones. Demand from the water and wastewater industry is also expected to increase due to population growth and its deleterious effect on the already scarce water sources in the country. Moreover, the pumps industry in Australia has seen, and will continue to see, a steady increase in the use of high-efficiency pipes due to high energy costs. With respect to business models, there has been a significant increase in customer interest in pump rental and maintenance services due to a growing focus on capital expenditure reduction.
The biggest threats to the industrial pumps market in Australia during both long and short terms are posed by rising input costs and margin pressure. Costs of materials that are crucial for the pumps industry such as steel and aluminium alongside rising labour and transportation costs are placing a major strain on pump manufacturers and suppliers, making it challenging for them to maintain profitability. The market is further restrained by the overall economic slowdown that has dampened the demand for pumps as the number of projects amongst end users decreases. This is exacerbated by the increase in external competition from foreign pump suppliers, particularly Chinese suppliers, and the resultant price competition. Finally, the industry has been facing a shortage of skilled labour, which adversely impacts the uptake of new, upside-generating technologies.
Opportunities in the pumps market in Australia lie in several key areas. Smart technology, analytics, and other emerging and advanced technologies are poised to offer significant long-term pump life cycle solutions, cost reduction, and revenue generation opportunities. Solar-powered pumps are also expected to play a key role in future energy efficiency initiatives. This is relevant especially for Australia and the natural advantage its climatic conditions provide to this segment. Pumps-as-a-Service is becoming an increasingly viable business model and offers customers increased flexibility and agility in pump ownership and deployment. Moreover, growth of the pumped hydro market in Australia, which is being supported by the federal government, creates an advantageous environment driving the overall industrial pumps market.
This study covers the reaction of traditional banks and other financial service companies, the Malaysian regulators and supporting organisations to the new-generation trend of FinTech and explores FinTech start-ups active in the Malaysian market.
A regulator holds the key to growing markets; this is true of FinTech in Malaysia. We have captured key roles of regulators, such as Bank Negara Malaysia (BNM, the central bank) and Securities Commission Malaysia (SC), in regulating and managing the financial services in the country. In addition, we have analysed the steps taken by the regulator to continue to guide the insurance industry towards a growth path. We also looked into the supporting role played by the Malaysia Digital Economy Corporation (MDEC) in enabling the industry.
This research service throws light on the digital ambition of 6 leading banks and their push to incorporate new technology as a whole, and specifically FinTech. We have examined how their vision and mission statements have reshaped to accommodate the changes brought over by FinTech and furthered our understanding on various initiatives taken by companies to increase their level of customer engagement, and thus their understanding of customers. We have also detailed the various accelerator programs being run by leading banks to adopt new technologies from new-age start-ups. We have compared the various FinTech initiatives of leading banks and identified banks that lead others in such initiatives.
This research service reviews the Malaysian FinTech landscape and further investigates key FinTech companies active in the country. For each FinTech company covered, we have included basic information, such as milestones, investment received, overview and solutions offered. As most of these InsurTechs have different and newer ways in which they engage with customers, we inspected their engagement models and product features that differentiate them from banks and insurance companies. We have further captured key people enabling such technology-driven companies and attempted to discover their partnerships and relationships with existing market players.
We also delved into how and where FinTechs have an impact on not only the industry as a whole but also the incumbent banks, equity financing market and financial advisors. We have analysed the degree of impact and/or whether it has been positive or negative.
We have added an executive summary that brings all of this together in a crisp form, to help busy executives get a gist of this research service and then read in detail sections that matter to them.