Smart and Intelligent
Pumps Market Scenario
Intelligent pump is increasingly
used for controlling the pressure or flow of fluids (water, oil, etc).
Intelligent pipes are basically an outcome of the incessant development in
piping technology. These pipes hold tremendous market potential. Market
Research Future (MRFR) reports that global Smart
and Intelligent Pumps Market is set to surge at a CAGR of 7.55% during
the assessment period (2018-2023). Intelligent pumps are drawing commercial
interest owing to their vast scope of industrial application.
Intelligent pumps are witnessing a
rapid popularity in desalination facilities, water treatment facilities, boiler
control systems, and water supply systems. Remote condition monitoring features
and energy management capabilities make intelligent pumps a sought-after piping
solution. The rise of building automation has reflected favourably on the
global intelligent pumps market. Positive displacement pumps and centrifugal pumps
are an important section of building automation.
Smart and Intelligent
Pumps Market - Highlights
Integration of sensor technology
with intelligent pumps have made more efficient and cutting-edge. Sensor play
an important role in monitoring applications. Such technical capabilities are
driving the adoption of these pumps in sectors such as water & wastewater,
power generation, chemical and oil & gas. These sectors are undergoing
digital transformation, which is benefiting the intelligent pumps market. A
higher emphasis is being placed on the operational efficiency, lower energy
consumption and minimum down-time, which is driving the adoption of new-age
technologies such as intelligent pumps.
Smart pumps have become a must-have
component in industrial infrastructure for achieving higher accuracy and
operational efficiency. Advanced countries in North America and Europe are
rapidly shifting toward smart industry in order to over some of critical
operational challenges. This creating attractive growth opportunities for
market players. At the same time, increased focus toward product innovation is expanding
application base of smart pumps.
Global Intelligent Pumps Market: Segmental Analysis
MRFR in its report has included a
detailed segmental analysis of the market based on component, type, end-user
and region.
On the basis of component, the
market has been segmented into pumps, variable drives and control systems.
On the basis of type, the market has
been segmented into positive displacement and centrifugal. In terms of value,
the centrifugal segment command a relatively larger market share. Preference
for centrifugal pump is higher owing to cost benefits. Moreover, centrifugal
pumps are more reliable as compared to positive displacement pumps.
On the basis of end-user, the smart
and intelligent pumps market has been segmented into waste &
wastewater, building automation, oil & gas, chemical and power generation. The
building automation segment accounts for a comparatively high market share in
terms of revenue. The segment is expected to remain highly attractive
throughout the assessment period.
Regional Analysis
Europe is the leading market for
intelligent pumps. Existence of massive industrial settings in countries such
as Germany, France, Netherland, Italy and the UK puts the region at a
favourable position in the global intelligent pumps market. A flourishing
manufacturing sector in Europe make the market in the region extremely dynamic.
Europe will continue to present attractive growth opportunities to market
players throughout the assessment period. Moreover. faster adoption of novel
technologies has opened new window of growth in Europe.
APAC is second in pecking order and
is likely to emerge as an important destination for market players in the
forthcoming years. Rapid industrial growth, expansion of the manufacturing
sector, and increased investment in infrastructure development are some of the
factors supporting the growth of the market in APAC.
Global Intelligent Pumps Market: Competition Analysis
Prominent market players such as
Emerson (US), Grundfos Holding (Denmark), Quantumflo (US), Yaskawa (Japan),
Flowserve Corporation (US), ITT Corporation (US), Xylem (US), Wilo SE
(Germany), Sulzer (Switzerland), KSB Aktiengesellschaft (Germany), ABB
(Switzerland) and Kirloskar (India) have been covered in MRFR’s report.
Read More: https://blog.naver.com/mrfr123/221640800391
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