Intelligent Pump Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
An intelligent pump can provide a wide set of advantages over its conventional counterparts, at a trade-off of a higher initial cost. The overall implementation of an intelligent pump is relatively simple for all the functions that it brings to the table. In a general sense, an intelligent pump is one that can automatically regulate or completely control the pressure and rate of flow of fluids from its. The overall benefit of using intelligent pumps comes from the massive savings in energy consumption that it can bring in the long run. Intelligent pumps can also bring about significant cost reductions in the overall systems in terms of operation and maintenance.
An intelligent pump is essentially a combination of a variable frequency device and a conventional pump that holds the ability to be controlled digitally. The use of electronics to control the flow through a pump has significantly evolved the implementation possibilities of the quintessential pump. The primary focus given to the use of intelligent pump is the savings in resources and energy. They are also highly preferred for implementation in remote conditions for monitoring and control. Further advancements in intelligent pump systems include the use of wireless technologies for added control over longer distances. This, however, can come at a very high installation cost, which a lot of end users may not be capable of buying out. They could receive government support over the coming years, seeing how intelligent pumps can help save energy amid the current energy crunch.
Intelligent pumps offer a wide range of benefits, including access to real-time operating data, improved maintenance predictions and plans, and wireless control and monitoring. The trend of installing these pumps, especially for water and wastewater monitoring, has gained much traction over the recent past.
The two main types of intelligent pumps are centrifugal pumps and positive displacement pumps, with the key components being variable drives, pumps, and control systems. These find application in a wide range of industries, such as water and wastewater, chemicals, building automation, oil and gas, and power generation.
The Intelligent Pump Market report takes a closer look at the overall market and offers sharp and actionable insights for clients to form crucial decisions. The structure and performance of the intelligent pumps market has been studied in depth, keeping in mind its historical, current, and future tendencies, and the analytical findings have been presented in a comprehensive and easy-to-understand format. This information is backed by statistical and graphical data, making the report an ideal blueprint of the global intelligent pump market.
The growing need for proper monitoring and control of pumps has resulted in the introduction of intelligent pumps in a number of end-use industries. These pumps enable remote systems control, remote condition monitoring, and energy management and as a result, the demand for the same has been steadily rising.
Among the two major types of pumps, namely centrifugal and positive displacement, the former exhibits a stronger hold on the intelligent pump market, research analysts observe. This can be attributed to the fact that they have proven to be more effective and in control in variable pressure conditions and conditions of high viscosity. Control systems form key components in intelligent pumps owing to their ability in enabling energy efficiency in several applications. One of the most lucrative end uses of intelligent pumps is in the water and wastewater industry, wherein the development of smart cities presents immense opportunities for application. Strict regulatory norms pertaining to energy efficiency also spurs the adoption of intelligent pumps in the water and wastewater segment.
The global intelligent pump market is segmented on the basis of geography into North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa. Europe holds a significant share in the worldwide market and is anticipated to hold a prominent place in the years to come as well. This can be primarily attributed to a rise in manufacturing and development activities in flourishing countries such as France, Germany, and Italy. The Europe intelligent pumps market is also driven by a surge in the demand for smart water systems and building automation.
Asia Pacific is a promising intelligent pump market and presents a host of lucrative opportunities for players thanks to a booming construction industry. With the development of smart cities across India, coupled with expanding capacities of power generation, the intelligent pumps market in Asia Pacific will receive a major boost.
In the Middle East and Africa region, the market for intelligent pumps is boosted by the rising need for energy security, the immense potential in subsea applications, rapid advancements in technology, and the need for enhanced energy efficiency measures.
It has been observed that a number of leading companies in the intelligent pump market are looking to expand operations in developing countries owing to the immense opportunities they present. Companies are also resorting to various other growth strategies to expand their footprint in the worldwide market. ITT Corporation (U.S.), Sulzer Ltd. (Switzerland), Grundfos Holding A/S (Denmark), Flowserve Corporation (U.S.), and Xylem, Inc. (U.S.) are some of the notable players competing in the global intelligent pump market.
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Latest Trends and Cardinal Growth Prospects
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Existing and Future Insights in Growth
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Ascensions in Technology
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The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
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This report is the key to questions such as:
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