Intelligent Pumps Market Projected To Grow At 7.5% During 2022 to 2030 - Report by Market Research Future (MRFR)

·7 min read
Market Research Future
Market Research Future

Energy Savings Targets Drive Intelligent Pumps Market Demand

New York, US, June 28, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Intelligent Pumps Market Analysis by Type (Centrifugal, positive displacement), Component (Control system, Variable drives, Pumps), End-User (Building Automation, Waste & Wastewater, Power), and Region & Forecast till 2030” valuation is poised to reach USD 1.27 Billion by 2027, registering a 5.2% CAGR throughout the forecast period (2022–2030).

Intelligent Pumps Market Overview

The intelligent pumps market is estimated to witness steady growth in the next few years. Over the past couple of years, High energy prices have been compelling utility operators to be more creative in controlling costs. Normally, the pumping system costs more than one-third of overall energy generation expenses. Due to their energy-intensive nature, intelligent pumps allow significant savings in the energy generation process.

Intelligent Pumps Market Report Scope:

Report Metric

Details

Market Size

USD 1.27 Billion (2027)

CAGR

7.5%

Base Year

2021

Forecast Period

2022-2030

Historical Data

2020

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Type, Component and Region

Geographies Covered

North America, Europe, Asia-Pacific, and Rest of the World (RoW)

Key Vendors

Emerson (US), Xylem (US), ABB (Switzerland), Sulzer (Switzerland), Grundfos Holding (Denmark), Quantumflo (US), Yaskawa (Japan), Kirloskar (India), Wilo SE (Germany), KSB Aktiengesellschaft (Germany), Flowserve Corporation (US), and ITT Corporation (US)

Key Market Opportunities

Development in digital oil fields

Key Market Drivers

Rising pressure to control the operational expenses

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The energy-saving advantage of intelligent pumps significantly contributes to the overall market growth. Besides, tax credits and government economic stimulus packages targeting infrastructure projects, such as water & wastewater and energy efficiency projects, drive the growth of the intelligent pumps market. Macro fundamentals of the intelligent pumps industry have strengthened notably.

With embedded asset management functionality becoming increasingly desirable as a less costly alternative to manual data collection and inspection, the market is projected to grow exponentially during the predicted period.

Favorable government policies to boost energy production result in exceptional multi-year capital spending growth globally. Also, encouraging trends in pandemic containment efforts are expected to drive investment over the upcoming period immensely. Industry players strive to acquire advantaged positions in the market to capture this technology-driven integration capability and international strength.

Intelligent Pumps Market Segments

The intelligent pumps market is segmented into types, end-users, and regions. The type segment is sub-segmented into centrifugal pumps, positive displacement, and others. The end-users segment is sub-segmented into power generation, building automation, oil & gas industry, water & wastewater management, chemicals & gas industry, and others. By region, the analysis is segmented into the Asia Pacific, Americas, Europe, and the rest-of-the-world.

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Intelligent Pumps Market Regional Analysis 

Europe dominates the global intelligent pumps market, witnessing rising investments in oil and gas infrastructure development. Besides, increasing building automation projects and vast developments in smart building systems boost the market size. Increased demand from the construction and water & wastewater sectors influences the market revenues of the regional market. Also, the spurring rise in O&G and power generation industries creates large market opportunities.

North America is another rapidly growing market for intelligent pumps globally. Increasing per capita energy consumption and E&P activities of oil and gas substantiate the region’s market shares. Moreover, the steep increase in oil and natural gas production in North America is growing continually, which alongside rapid R&D investments to drive developments and upgrades of intelligent pump technologies, push market growth.

APAC is emerging as a promising market for intelligent pumps. Developments in industries and building automation are key growth drivers. Furthermore, increasing water treatment concerns create significant market demand. The APAC intelligent pumps market demonstrates plenty of growth opportunities and will achieve the highest production rate of intelligent pumps during the forecast period.

Industry Trends

The building automation industry is increasingly adopting intelligent pump technology. Moreover, rapid shifts in load requirements and integration of sensors to monitor and maintain a controlled variable and constant pump output increase the market demand. Due to higher well construction and sustained O&G exploration activities worldwide, the intelligent pumps market is poised to outperform.

With digital technology, intelligent pumps have evolved from their traditional role as the mechanical workhorses of manufacturing to the controlled process domain. Intelligent pumps can enable better management and improve process control, and help plants reduce total energy consumption.

Intelligent pumps are increasingly being adopted in the pharma industry to optimize water consumption and reduce water wastage. In the wake of climate change and the water crisis, pharma companies worldwide are turning to intelligent pumps to optimize water use. Water management is becoming a paramount concern in the pharmaceutical industry as it is growing rapidly.

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Water is a critical component in the research and production of pharmaceutical products. Besides, the wastewater generated by the industry is released without pre-processing.  Therefore, the pharma sector has been focusing on the cautious use of the right quality of water for their manufacturing processes. These factors encourage the adoption of intelligent pumps and water technologies & processes to ensure sustainable manufacturing in this sector.

Manufacturing plants need to work on challenging tasks and prioritize total water needs and consumption. They need to focus on perfecting their water usage, recycling, and replenishing processes. This makes intelligent pumps using intelligent and efficient technology imperative in solving water challenges in manufacturing plants. Intelligent pumping systems can handle challenges related to high output with minimum maintenance.

Intelligent Pumps Market Competitive Analysis

Dominant Key Players on Intelligent Pumps Market Covered are:

  • Emerson (US)

  • Xylem (US)

  • ABB (Switzerland)

  • Sulzer (Switzerland)

  • Grundfos Holding (Denmark)

  • Quantumflo (US)

  • Yaskawa (Japan)

  • Kirloskar (India)

  • Wilo SE (Germany)

  • KSB Aktiengesellschaft (Germany)

  • Flowserve Corporation (US)

  • ITT Corporation (US)

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Highly competitive, the intelligent pumps market appears fragmented due to the presence of several well-established players. Industry players make vast investments in research and development activities and foster their expansion plans. These market players adopt approaches such as greater commercialization of their products, promotion initiatives through competitions & trade exhibitions, and increased collaboration.

This market witnesses implementation of several strategic deals, such as collaboration, mergers & acquisitions, product launches, and expansion. For instance, on Oct. 10, 2021, Grundfos (Denmark), a leading water pump manufacturer, announced signing an MoU with Tata Projects (India) to jointly cooperate and explore the environment, sustainability, and water projects.

This MoU aligns with the ongoing Green Strategic Partnership between Denmark and India. The joint effort will help in technology, identification of market and joint business development through cooperation and joint ventures. This mutually beneficial arrangement enables Denmark to deliver sustainable solutions to India to help both countries.

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