Intelligent
Pumps Market Analysis
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
pumps 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 Intelligent
Pumps 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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