Intelligent
Pumps Market Analysis
Intelligent pump is used to
regulate the flow or pressure in various industries in order to help in energy
savings and operational efficiency. Intelligent pumps are of two types, namely,
centrifugal pump and positive displacement pumps. These pumps are installed in
various industries such as chemical, steel, power generation, paper & pulp,
mining & materials, and Water & wastewater treatment plants. The global
intelligent pumps market is estimated to expand at 7.55% CAGR during the
forecast period.
Intelligent pump helps to control
the flow and pressure of water or other fluids. It is widely used across
various end-user applications for energy management, remote systems control,
and condition monitoring. The major advantages of intelligent pump include
energy savings, reduced downtime, and maintenance cost reduction.
The global intelligent pumps market
is set to witness significant growth due to increasing demand for IoT products,
rising investment in building automation, development in the oil fields, and
focus on water treatment plants. For instance, oil & gas companies are
largely investing in intelligent pump solutions to improve the output of the
mature oil fields. Intelligent pumps help to improve process efficiency with
the help of variable frequency drive to provide pump off control by varying the
speed of the well. On the other hand, high capital cost of intelligent pump
solution is one of the major restraints for the global intelligent pump market.
Industry
Segmentation
The intelligent pumps market has
been segmented based on end-users into building automation, water &
wastewater, oil & gas, power generation, chemical, and others.
Based on type, the market is
segmented as centrifugal pump and positive displacement pump. Centrifugal pump
segment is estimated to dominate the market during the forecast period due to
their wide application in building automation for HVAC systems and water
systems. Moreover, rising concern for desalination is also driving the growth
of centrifugal pumps.
Among these end-users, building
automation is the fastest growing segment in the intelligent pumps market due
to the growing market for smart cities, stringent energy efficiency standards
for developed countries especially in Europe and North America, and government
initiatives for energy savings globally.
Regional
Outlook
Region wise, North America held the
largest market share of the global intelligent pumps market in 2017. It is
estimated that Asia-Pacific region would be the fastest growing market during
the forecast period, mainly due to the rising investment in smart cities and
government initiatives on energy efficiency. The intelligent pump market would
be mainly driven by the growing focus on energy efficiency. Rising
manufacturing activities in Europe is also likely to positively impact the
intelligent
pumps market during the forecast period.
Leading
Players
The key players of the global
intelligent pumps market Xylem (US), Emerson (US), ABB (Switzerland), Grundfos
Holding (Denmark), Sulzer (Switzerland), Quantumflo (US), Kirloskar (India),
Yaskawa (Japan), Wilo SE (Germany), Flowserve Corporation (US), KSB
Aktiengesellschaft (Germany), and ITT Corporation (US).
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