Global Intelligent Pump Market 2020: Industry Overview, Driving Factors, Segments, Regional Analysis and Competitive Analysis – Forecast to 2023
Global Intelligent Pump Market – Overview
Introduction of stringent regulations on energy usage and rapid adoption of smart cities solution is booting the market potential of intelligent pumps. Market Research Future (MRFR) reports that the Global Intelligent Pump Market will expand at a CAGR of 7.55% during the projected period (2018-2023).
Intelligent pumps are increasingly used in modern water treatment plants, boiler control systems, desalination, industrial water supply among others. These pumps are integrated with sophisticated sensors and digital control system, which allow remote monitoring and effective energy management.
The rising of building automation has also influenced the global market for intelligent pumps. Positive displacement pumps and centrifugal pumps are used for making exiting system compatible to intelligent solutions. Intelligent pumps also aid in enhancing process control and reducing the overall energy usage in industry verticals such as chemical, oil & gas, power generation, water & wastewater among others.
Global Intelligent Pumps Market: Segmental Analysis
MRFR’s report includes a comprehensive segmental analysis of the market based on type, end-used, component and region.
On the basis of type, the market has been segmented into positive displacement pump and centrifugal pump. The centrifugal pump segmented holds a significant share of the market in terms of value. The foremost reason of centrifugal pumps being preferred over positive displacement pumps is their higher affordability.
On the basis of component, the market has been segmented into variable drives, control system and pumps.
On the basis of end-user, the market has been segmented into power generation, water & wastewater, automation, chemical and oil & gas. Among these, the building automation segment is expected to exhibit the highest growth during the projection period.
Regional Analysis
Europe represent the largest market for intelligent pump. Countries such as Germany, France, Italy, the U.K. and Netherland are high industrialised, making attractive destinations for market players. The manufacturing sector in Europe is extremely dynamic and presents lucrative opportunities to market players. At the same time, adoption of cutting-edge technologies such as the digital oil field has created growth avenues. Smart pumps are an important component of smart industrial infrastructure like digital oilfields that work of high accuracy and efficiency. Intelligent pump system facilitates effective pressure and temperature control. In terms of value, Asia Pacific holds the second spot in the global intelligent pumps market. The demand growth in APAC is fuelled by development new water & wastewater treatment plants and adoption of IoT solutions.
Competition Analysis
Some of the top-notch companies discussed in MRFR’s report include Emerson (US), Grundfos Holding (Denmark), Quantumflo (US), Yaskawa (Japan), Flowserve Corporation (US), ITT Corporation (US), Xylem (US), Sulzer (Switzerland), KSB Aktiengesellschaft (Germany), Kirloskar (India), Wilo SE (Germany) and ABB (Switzerland).
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