Market Analysis
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.
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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.
Market Segmentation
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.
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Regional Analysis
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.
Key Players
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.
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About Market Research Future® (Part of WantStats Research and Media Pvt. Ltd.) has specialized research analysts in the areas of Aerospace & Defense, Automotive, C&M, Energy & Power, F&B, Healthcare & Pharmaceutical, ICT, Industrial Equipment, Packaging Construction & Mining and Semiconductor.
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and about what action to take based on these aspects.
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With a massive pool of small, medium, and large participants, the global intelligent pumps market demonstrates a highly fragmented business landscape.
These players are investing heavily on the development of advanced intelligent pumps to meet the demands of consumers.
In 2016, it held a share of approximately 35% in the overall market.
Researchers predict, this factor is likely to support the Europe intelligent pumps market in maintaining its dominance over the forecast period.On the other hand, Asia Pacific is anticipated to report a relatively faster CAGR of 7.30% during the period from 2017 to 2025.
China has emerged as the most prominent contributor in the Asia Pacific intelligent pumps market, thanks to its increased export of low-priced pumps to the Middle East and Africa.
India is also a key domestic market for intelligent pumps in Asia Pacific.
Market AnalysisThe 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.
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.
Among these, the centrifugal pump segment is leading the market and has the well-built market share, mainly owing to minor cost compared to positive displacement pumps and high reliability.
Regional Analysis 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).
The report, Global Smart and Intelligent Pumps Market report top 20 countries data 2017 – 2026 by MI Reports is a brilliant piece of information that covers analysis of every single aspect in the Smart and Intelligent Pumps Market.
Across all the countries in the globe, there are a sliver over 20 countries which are the top trading destinations and account for the majority of the trade and revenue in the world.
The report further provides information on all the key drivers, restraints, and trends in the Smart and Intelligent Pumps Market which can help the customer plan accordingly in their campaigns.
Asia Pacific is further sub-segmented into China, India, Japan, South East Asia, and Australia.
The top countries mentioned here along with some more comprise of the study group for the Smart and Intelligent Pumps Market.
Among the players in the report, some include the following:
Global Micro Pump Market size is expected to grow at a CAGR of 19.4% across the review period 2016 to 2027.
Increasing research & development in life sciences is likely to fuel demand for micro pumps in the years to come, thus acting as a growth catalyst to market expansion.
The rising demand for healthcare facilities has led to the innovation and adoption of devices such as microfluid pumps.
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The rising demand for point of care services is likely to favor the growth of micro pump market across the forecast period.
Some of the global leaders in the micro pump market are assessed in the share analysis included in this MRFR report.
