Intelligent Pump Market Research, 2031
The Global Intelligent Pump Market size was valued at $1 billion in 2021, and is projected to reach $2.1 billion by 2031, growing at a CAGR of 7.3% from 2022 to 2031. Intelligent pumps incorporate advanced technologies to offer advanced features, such as automatically variable speed and pressure head of the flow. Intelligent pumps can also be monitored and operated remotely.
Market Dynamics
Intelligent pumps are more energy efficient and offer higher operational efficiency. Owing to the ability to vary the speed and pressure, the electricity consumption can be regulated. This also prevents the pump from over use; thereby, extending its life span. Moreover, intelligent pumps incorporate latest electronics and sensors to collect performance data and transmit it to a remote location via internet. This allows the pump to be operated remotely. In addition, these sensors collect data and send it to the cloud, where the artificial intelligence (AI) generates useful insights, which can act as base for decision making. Predictive maintenance is also possible owing to such incorporated technologies. Such advantages make intelligent pump an ideal option for large and complex industries; thereby, propelling the growth of the intelligent pumps market.
Furthermore, rise in population and rising disposable income of people in general, are fostering the growth of manufacturing industries. In addition, despite the negative impact of COVID-19, the food and beverage, petrochemical, and other similar industries performed well, and is expected to drive the demand for intelligent pumps as they are extensively used in these industries for fluid movement.
Moreover, rising population is also driving demand for electricity, which fuels the power generation and oil and gas sectors. Furthermore, owing to the increased awareness regarding sustainability, masses globally are adopting relatively eco-friendly ways of living. This trend is driving demand for buildings that are more ecofriendly and are energy efficient.
Such buildings make extensive use of intelligent pumps owing to its high efficiency and electricity saving features. Furthermore, intelligent pumps are also widely used by waste water treatment facilities, and the growth in the waste water treatment industry is expected. Such factors positively influence the growth of the intelligent pump industry, as these industries and sectors are major users of intelligent pumps.
Major players in the industry are focused on product launch, partnership, and business expansion to sustain harsh competition in the intelligent pumps market. For instance, in December 2020, Xylem, an innovative technology solutions provider, launched a cloud-based monitoring system for pumps, known as Avensor. This allows operators to remotely monitor pump stations and other assets from their smartphones, tablets or PCs. This solution also offers data-driven insights about the system.
The novel coronavirus had rapidly spread across various countries and regions, causing an enormous impact on the lives of people and the overall community. It began as a human health condition and later became a significant threat to global trade, economy, and finance. The COVID-19 pandemic halted the production of many intelligent pumps provider due to lockdown.
The economic slowdown initially resulted in reduced production in end-user industries. However, owing to the introduction of various vaccines, the severity of COVID-19 pandemic has significantly reduced. As of mid-2022, the number of COVID-19 cases have significantly reduced. This has led to the full-fledged reopening of intelligent pump manufacturing companies at their full-scale capacities. Furthermore, it has been more than two years since the outbreak of this pandemic, and many companies have already shown notable signs of recovery.
Furthermore, with the development of cloud platforms, industry 4.0, and latest sensors, the intelligent pump providers are expected to witness lucrative opportunities for the intelligent pump market growth.
The intelligent pump market is segmented into End User Industry, Type and Component. By type, the market is bifurcated into centrifugal and positive displacement. On the basis of component, it is categorized into pumps and control systems. On the basis of end-user industry, the market is bifurcated into industrial and building solutions. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific held the largest intelligent pump market share in 2021, accounting for the highest share in revenue, and LAMEA is anticipated to grow with highest CAGR during the forecast period. This is attributed to increased investments in oil & gas, and manufacturing industries in the region.
Competition Analysis
Key companies profiled in the intelligent pump market forecast report include ABB, All Pump Solutions, Armstrong Fluid Technology, Circor International, Inc., Flowserve Corporation, Grundfos Holding A/S, Ingersoll Rand Inc., ITT Inc., Ketek Group, Kirloskar Brothers Limited (India), KSB SE & Co. KGaA, Sulzer Ltd., Unico LLC., Wanner International Ltd. (Hydra-Cell), Wilo SE, Xylem Inc., and Yaskawa Electric Corporation.
Key Benefits For Stakeholders
- This intelligent pump market report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the intelligent pump market analysis from 2021 to 2031 to identify the prevailing intelligent pump market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the intelligent pump market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global intelligent pump market trends, key players, market segments, application areas, and market growth strategies.
Intelligent Pump Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 2.1 billion |
 Growth Rate | CAGR of 7.3% |
 Forecast period | 2021 - 2031 |
 Report Pages | 310 |
 By End User Industry |
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 By Type |
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 By Component |
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 By Region |
|
 Key Market Players | ABB, KSB SE & Co. KGaA, All Pump Solutions, Circor International, Inc., Armstrong Fluid Technology, Sulzer Ltd., Wilo SE, Ingersoll Rand Inc., Unico LLC., Flowserve Corporation, Grundfos Holding A/S, Kirloskar Brothers Limited (India), ITT Inc., Ketek Group, Yaskawa Electric Corporation, Wanner International Ltd. (Hydra-Cell), Xylem Inc. |
Analyst Review
The intelligent pumps market has witnessed significant growth in past few years, owing to growth in the industrial sector, especially in water and wastewater treatment facilities, and rise in oil and gas industries.
The growth in industries, such as petrochemical, chemical, and food and beverages, is expected to fuel the growth of the intelligent pump market. Furthermore, rise in population and urbanization have driven demand for energy for domestics and commercial use. This eventually propels the growth of oil & gas extraction, and refining industries. Moreover, growing demand for energy efficient, green buildings has positively affected the growth of the intelligent pumps market, as intelligent pumps are more energy efficient.
In addition, incorporation of latest technologies has enabled intelligent pumps to be monitored and operated remotely, which is expected to provide lucrative opportunities for the intelligent pumps market growth.
The development of more efficient and connected pumps is a major trend in the market.
Intelligent pumps are extensively used for pumping fluids in industrial facilities.
Asia-Pacific is the largest market for intelligent pumps.
$1,032.8 Million is the estimated industry size of Intelligent Pump.
ABB, All Pump Solutions, Armstrong Fluid Technology and Circor International, Inc. are some of the top companies to hold the market share in Intelligent Pump market.
Latest version of global Intelligent Pump market report can be obtained on demand from the website.
The company profile has been selected on factors such as geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
$2,108.8 Million will be Intelligent Pump market size in 2031.
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