Intelligent Pumps Market Predicted To Grow At More Than 7% By 2023
Intelligent Pumps Market Scenario:
The global intelligent pumps market is expected to expand at 7.55% CAGR during the period 2018 to 2023. Global intelligent pumps market to witness substantial growth during the forecast period owing to rising investments in building automation and growing focus on water & wastewater treatment sector. Intelligent pump helps to control the flow and pressure of water or other fluids. It is widely used across various end-user applications for energy management, remote systems control, and condition monitoring. The major advantages of intelligent pump include energy savings, reduced downtime, and maintenance cost reduction.
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According to EPA, more than 50% of the water systems in the US do not have proper remote monitoring for the pumping system. Thus, intelligent pump with wireless control capabilities is useful to access the operating data to reduce unplanned downtime and improve the maintenance activities.
Growing focus on smart cities and strict energy efficiency standards in developed countries is also resulting in increasing demand for intelligent pumps. Intelligent pumps would help in improving process control and help in reduce energy consumption in the industries such as oil & gas, chemical, water & wastewater, and power generation, among others.
Global Intelligent Pumps Market Segmental Analysis:
Global Intelligent Pumps Market, By Type
- Positive displacement
Global Intelligent Pumps Market, By Component
- Control system
- Variable drives
Global Intelligent Pumps Market, By End-User
- Building Automation
- Water & Wastewater
- Oil & Gas
- Power Generation
Global Intelligent Pumps Market, By Regions
- North America
- Middle East & Africa
- South America
- Xylem (US),
- Emerson (US),
- ABB (Switzerland),
- Grundfos Holding (Denmark),
- Sulzer (Switzerland),
- Quantumflo (US),
- Kirloskar (India),
- Yaskawa (Japan),
- Wilo SE (Germany),
- Flowserve Corporation (US),
- KSB Aktiengesellschaft (Germany), and
- ITT Corporation (US).
Region wise, North America held the largest market share of the global intelligent pumps market in 2017. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the rising investment in smart cities and government initiatives on energy efficiency. The intelligent pump market would be mainly driven by the growing focus on energy efficiency. Rising manufacturing activities in Europe is also likely to positively impact the intelligent pumps market during the forecast period.
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List Of Tables
Table 1 Global Intelligent Pumps Market: By Region, 2018–2023
Table 2 North America: Intelligent Pumps Market: By Country, 2018–2023
Table 3 Europe Intelligent Pumps Market: By Country, 2018–2023
Table 4 Asia-Pacific Intelligent Pumps Market: By Country, 2018–2023
Table 5 Middle East & Africa Intelligent Pumps Market: By Country, 2018–2023
To Be Continued……
List Of Figures
Figure 1 Research Process Of MRFR
Figure 2 Top-Down & Bottom-Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
To Be Continued…….
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