Intelligent Pump Market: Global Industry Analysis and Forecast (2022-2029)

Intelligent Pump Market was valued at US$ 1.18 Bn. in 2022. The global Intelligent Pump Market size is estimated to grow at a CAGR of 7.5% over the forecast period.
Intelligent Pump Market Overview:
With the inclusion of digital technology, pumps have outgrown their original position as simple mechanical laborers. The combination of a pump and a variable frequency drive with digital control capability is known as intelligent pumping. The phrase "intelligent pump" is now being expanded to encompass embedded or attached sensors that collect data and relay pump performance and processes for predictive asset management. With the introduction of intelligent pumps, new possibilities develop, such as remote status monitoring, energy management, and remote system control.

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The market is being boosted by key players' ongoing focus on product development in order to gain an advantage over their competitors. Due to the presence of a significant number of regional and international companies of varied sizes, the worldwide intelligent pump market is currently fragmented.
Intelligent Pump Market Dynamics:
The industrial sector relies heavily on the internet of things. It is a technology that will lead to the automation of the industrial sector. The rise of the Internet of Things has increased demand and opened up new growth potential for the intelligent pump industry. The use of technology in the pump sector brings the market greater attention. The market income for intelligent pumps is larger when automation and pumps are combined. The smart pumps provide real-time data, wireless management, and operation monitoring.

The intelligent pumps market outlook is an energy-efficient one as a result of this utilization of technology. It's also a dependable technique for high-end pumping operations. Several industries are currently looking for energy-efficient technology. The intelligent pump is one such technology that provides numerous energy-saving advantages. Another important market driver is the industry's preference for energy-efficient technology. The efficiency of technology will be a primary driver during the projection period. As a result of this important market driver, the industry is expected to see increased demand and profitability through the forecast period.

There are two key product variations in the intelligent pump market. Two important types of pumps are centrifugal and positive displacement pumps. Both of these pumps are energy efficient and dependable. The centrifugal pump, in particular, can work under high pressure and viscosity. Intelligent pumps are less expensive than traditional pumps. During the projection year, the major market participants are attempting to reduce costs.

An intelligent pump is one that can directly control a stream or a pressing component. Energy investment funds, lifetime upgrades, and lower structure costs are just a few of the advantages that these pumps provide. Remote control and inspection capabilities are included in intelligent pumps, allowing end-users to access real-time operational data. The water and wastewater part will be driven by the expansion of smart urban communities and strict energy-efficiency norms. This element is expected to provide another level of freedom for the intelligent pump market throughout the forecast period. These pumps are used for allotment drinking water, switch assimilation cycle, and machine equipment grease in the water and wastewater treatment sector. Exacting administrative rules for energy efficiency are also kicking off the use of clever pumps in the wastewater and water sectors.

Intelligent pumps' cost-effectiveness will provide numerous prospects for Intelligent Pumps Industry Growth. It will be the most preferred pump in the approaching years due to its excellent quality and high end. Furthermore, smart pumps are mostly employed in smart cities. The intelligent pumps' activities are appropriate for smart city infrastructure. It is critical in a variety of applications in smart cities. Wastewater management, power generation, and a variety of other applications all require intelligent pumps. In the end, it provides plenty of room for the intelligent pump market to expand. Furthermore, as businesses move closer to automation, the use of intelligent pumps is increasing in these areas.

In today's world, most sectors rely on traditional pumps. Intelligent pumps are only used by a few high-end industries. Because of the high initial cost, several sectors are wary of adopting this technology. It is a costly operation to replace traditional pumps with intelligent pumps. The initial cost of the intelligent-pump market is a significant stumbling block. It is a significant impediment to the total market. The cost factor may have an impact on demand and profitability during the forecast period. In addition, intelligent pumps have a lot of technological breakthroughs. All of this adds up to the market's overall operating costs. The cost factor may have a lowering impact on the market during the forecast period.
Intelligent Pump Market Segment Analysis:
Based on the Type, the Intelligent Pump Market is segmented into Centrifugal and Positive Displacement. The Centrifugal segment held the largest market share, accounting for 71% in 2021. The segment growth is attributed to the fact that in high-viscosity and variable-pressure circumstances, centrifugal pumps necessitate extensive use of control systems.

For the most part, centrifugal pumps are employed in technological applications. They are the most prevalent form of pump found in industry, agricultural, municipal (water and wastewater treatment plants), electricity generation, petroleum, and a variety of other fields. This is owing to characteristics such as solid construction, simple design, low manufacturing costs, friendly operating behaviour, and good adjustability.

Based on the Platform, the Intelligent Pump Market is segmented into Pumps, Variable Drives, and Control Systems. The Control Systems segment held the largest market share accounting for 47% in 2021. The Segment growth is attributed to their energy-saving applications in a variety of industries, intelligent pumps are becoming increasingly popular.
Intelligent Pump Market Regional Insights:
The European region held the largest market share accounting for 34% in 2021. Emerging technologies such as intelligent pump systems are likely to be the key driver of future growth as the European pump sector matures. Growth is also attributed to the high demand for clean drinking water, which necessitates sophisticated pumps, the region is likely to enhance its market share. In Addition, demand for these pumps is increasing in a range of end-user categories, such as water and wastewater treatment, building automation, and food and beverage processing, all of which are driving up product demand in the area.

The objective of the report is to present a comprehensive analysis of the global Intelligent Pump Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Intelligent Pump Market dynamic, structure by analyzing the market segments and projecting the Intelligent Pump Market size. Clear representation of competitive analysis of key players by price, financial position, product portfolio, growth strategies, and regional presence in the Intelligent Pump Market make the report investor’s guide.
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Intelligent Pump Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 1.18 Bn.


Forecast Period 2023 to 2029 CAGR:
7.5%
Market Size in 2029:
US $ 1.96 Bn.


 Segments Covered:
by Type
• Centrifugal
• Positive Displacement


by Component
• Pumps
• Variable Drives
• Control Systems


by End-User
• Building Automation
• Water & Wastewater
• Oil & Gas
• Chemicals
• Power Generation
• Others



Intelligent Pump Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Intelligent Pump Market Key Players
• Xylem, Inc.
• ITT Corporation
• Grundfos Holding A/S
• Sulzer Ltd.
• Flowserve Corporation
• QuantumFlo, Inc.
• CIRCOR International, Inc.
• Rockwell Automation
• Emerson Electric Co.
• Kirloskar Brothers Ltd.
• Yaskawa Electric Corp
• Goulds Pumps
• Alfa Laval.
• Bosch Rexroth
• Grunwl
• Yaskawa Electric
• Colfax Corporation
• Kirloskar Brothers
• KSB AG
• Wilo SE
• Seepex GmbH
• Regal Beloit Corporation
• Wanner International
• Liberty Pumps
• ABB

Frequently Asked Questions:

1] What segments are covered in the Intelligent Pump Market report?
Ans. The segments covered in the Intelligent Pump Market report are based on the Type, Component, and End-User.

2] Which region is expected to hold the highest share in the Intelligent Pump Market?
Ans. The European region is expected to hold the highest share in the Intelligent Pump Market.

3] What is the market size of the Intelligent Pump Market by 2029?
Ans. The market size of the Intelligent Pump Market by 2029 is expected to reach at US$ 1.96 Bn.

4] What is the forecast period for the Intelligent Pump Market?
Ans. The forecast period for the Intelligent Pump Market is 2022-2029.

5] What was the market size of the Intelligent Pump Market in 2022?
Ans. The market size of the Intelligent Pump Market in 2022 was valued at US$ 1.18 Bn.