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.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).
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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Industry Highlights
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.
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.
Segmental Analysis
MRFR’s report includes a comprehensive segmental analysis of the 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.
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.
Global Intelligent Pumps Market: Regional Analysis
Europe represent the largest market for intelligent pump. Countries such as Germany, France, Italy, the U.K. and Netherland are high industrialized, 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.
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