Global Intelligent Pump Market - Wishtree Insight

Global intelligent pump Market by Pump Type (Positive pump and Centrifugal Pump), by Component (Control System, Pumps, and Variable Drives), End-User (Oil & Gas, Water & Wastewater, Building Automation, and Others), and Regions (The Asia Pacific, Middle East Africa, Europe, North America, and Latin America) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2021 – 2031

The global intelligent pump market size was valued at USD 0.81 billion in 2021 and is expected to surpass USD 1.91 billion by 2031, expanding at a CAGR of 8.1 % during the forecast period, 2021–2031. The growth of the market is attributed to the energy efficiency projects and tax benefits provided by governments.

INTRODUCTION

Intelligence encompasses the combination of a traditional pump and a variable frequency drive (VFD) and is also equipped with digital control ability. Today’s intelligent pump incorporates embedded or attached sensors to collect data and transmit its performance. In addition, an intelligent pump also offers benefits like better maintenance plans and predictions, access to real time-time operating data, and wireless monitoring and control. With the implementation of the Internet of Things (IoT) in industries growing rapidly, pump manufacturers try to maximize this opportunity that could bring significant profit to the pump market.

An intelligent pump system requires more investment as the acquisition cost of the equipment of this pump is much more than a traditional pump system, thus causing higher production costs.

Market Trends, Drivers, Restraints, and Opportunities

• Government packages & tax benefits for infrastructure projects, water, and wastewater, and energy efficiency projects are also some major causes to encourage the growth of the Intelligent pump market.
• Continuous technological advancements and research & development are expected to propel the market.
• The upcoming smart city projects are anticipated to grow the market.
• The higher cost of equipment, some other factors to keep in mind are engineering cost, instrumentation, trained staff, and appropriate workforce which is hiatus and requires a lot of effort.

Scope of the Report

Market Segment Insights

Centrifugal pump is projected to hold a key share of the market

Based on pump type the global intelligent pump market is bifurcated into the positive pump and centrifugal pump. The Centrifugal pump is projected to hold a key share of the market in the coming years. These pumps can handle variable pressure and are capable to handle viscous fluid, also they have a high demand for a centrifugal pump for its characteristics over conventional pumps, and their utilization in other sectors the segment is expected to grow the market.

The variable drive segment is anticipated to propel the market

Based on components the global intelligent pump market is divided into control systems, pumps, and variable drives. The variable drive segment is anticipated to propel the market in the forecast period. The evolution in pumps from components to dynamic control equipment has propelled the market.

The building automation segment expected for lucrative growth in the market

On the basis of end-user, the global digital pump market is divided into oil & gas, water & wastewater, building automation, and others. The building automation segment is expected for lucrative growth in the market. For air conditioning and water circulation in infrastructure, these pumps are suitable for operation.

Geographical Overview:

At the global level, Europe was holding the highest market share in 2019 and is supposed that it will continue to be at the top in the intelligent pump market in the coming years too. The demand for advanced water systems and automation is increasing in Europe which leads to a great demand for intelligent pumps. The Asia-Pacific region also boasts a promising market for intelligent pumps. The new development activities in India such as smart city projects along with a boost in power generation capacity offer a great market.

Competitive Landscape

Key players competing in the global intelligent pump market are, Sulzer; WILO SE; Grundfos Holdings; Flowserve enterprise; Wanner International Ltd; KSB SE & Co. KGaA

FAQs

Mention the market size of the Global intelligent pump in 2021.

The global intelligent pump market size was valued at USD 0.81 billion in 2021 and is expected to surpass USD 1.91 billion by 2031

During the forecast period, what is the CAGR of the market?

During the forecast period, the CAGR of the market is expected to be 8.1%.

What are the key drivers of the market?

The growth of the market is attributed to the energy efficiency projects and tax benefits provided by governments.

What segments are covered in the global intelligent pump report?

The segments covered in the global intelligent pump market are, pump type (positive pump and centrifugal pump), component (control system, pumps, and variable drives), end-user (oil & gas, water & wastewater, building automation, and others).