The global intelligent pumps market is likely to grow at a 7.55% CAGR in the forecast period 2020- 2027, according to the latest Market Research Future (MRFR) analysis. Intelligent pump, simply put, is a form of pump which can control the pressure or flow of fluids and help in energy savings and overall cost reduction. Generally it is used in boiler control system and boiler, desalination, industrial water supply, water treatment plants, and others. It is basically the combination of a pump with digital monitoring capabilities and digital controls and a VFD.
Various factors are fuelling the global intelligent pumps market share. As per the recent MRFR market estimates, such factors include the growing focus on water and wastewater treatment sector, the key benefits of intelligent pumps such as system cost reductions and energy savings, increasing adoption of IoT products, digitization of oil and gas industry, rising pressure to control the operational expenses, rise in production efficiency, different end users investing in IoT technologies such as oil and gas industry, chemical plants, water treatment plants, growing focus on smart cities, growing investments in building automation, and strict energy efficiency standards in developed countries. The additional factors adding market growth include the growth in industrial internet of things, improving pump station efficiency and remote monitoring, demand for minimization of manual operations and automated regulations to control and regulate the flow of fluid, increased hydraulic fracturing, and increasing power generation.
On the contrary, the impact of the COVID-19 pandemic and the high initial cost may limit the global intelligent pumps market growth over the forecast period.
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The prominent players profiled in the global intelligent pumps market report include ITT Corporation (US), KSB Aktiengesellschaft (Germany), Flowserve Corporation (US), Wilo SE (Germany), Yaskawa (Japan), Kirloskar (India), Quantumflo (US), Sulzer (Switzerland), Grundfos Holding (Denmark), ABB (Switzerland), Emerson (US), and Xylem (US), among others.
The MRFR report throws light on an inclusive segmental analysis of the global intelligent pumps market based on end user, component, and type.
By type, the global intelligent pumps market is segmented into positive displacement pump and centrifugal pump. Of these, the centrifugal pump segment will lead the market over the forecast period for high reliability and lesser cost than positive displacement pumps.
By component, the global intelligent pumps market is segmented into pumps, variable drives, and control system.
By end user, the global intelligent pumps market is segmented into chemical, power generation, oil and gas, water and wastewater, building automation, and others. Of these, the building automation segment will spearhead the market over the forecast period.
By region, the global intelligent pumps market covers the recent trends and growth opportunity across North America, Europe, the Asia Pacific (APAC), and Rest of the World (RoW). Among these, Europe will dominate the intelligent pumps market over the forecast period. Growing need for intelligent pump systems, growing adoption of such smart pumps in various end user segments like food and beverages, building automation, and water and wastewater treatment, and increase in the manufacturing and development activities in emerging countries like Italy, France, and Germany are adding to the global intelligent pumps market growth in the region.
In the APAC region, the global intelligent pumps market is predicted to have healthy growth over the forecast period. Booming construction industry, development of smart cities, and increasing capacities of power generation are adding to the global intelligent pumps market growth in the region.
In North America, the global intelligent pumps market is predicted to have promising growth over the forecast period. Increasing focus on wastewater and water treatment sector, increasing growth of the automation sector, and the demand for smart intelligent pumps over old conventional pumps for processing medical products in plant are adding to the global intelligent pumps market growth in the region.
In RoW, the global intelligent pumps market is predicted to have stable growth over the forecast period.
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