Intelligent Pumps Market Highlights
The
global intelligent pumps market is estimated to expand at 7.55% CAGR during the
forecast period. 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. Adapting to the recent novel COVID-19 pandemic, the impact of the COVID-19
on Intelligent Pumps Market is
included in the present report.
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.
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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