Intelligent pumps are increasingly used in modern water treatment plants, boiler control systems, desalination, industrial water supply among others. These pumps are integrated with sophisticated sensors and digital control system, which allow remote monitoring and effective energy management.
Introduction of stringent regulations on energy usage and rapid adoption of smart cities solution is booting the market potential of intelligent pumps. Market Research Future (MRFR) reports that the global intelligent pumps market will expand at a CAGR of 7.55% during the projected period (2018-2023).
Competition Analysis
Some of the top-notch companies discussed in MRFR
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Industry Highlights
Intelligent pump is used to regulate the flow or pressure in various industries in order to help in energy savings and operational efficiency. Intelligent pumps are of two types, namely, centrifugal pump and positive displacement pumps. These pumps are installed in various industries such as chemical, steel, power generation, paper & pulp, mining & materials, and Water & wastewater treatment plants.
The global intelligent pumps market is set to witness significant growth due to increasing demand for IoT products, rising investment in building automation, development in the oil fields, and focus on water treatment plants. For instance, oil & gas companies are largely investing in intelligent pump solutions to improve the output of the mature oil fields. Intelligent pumps help to improve process efficiency with the help of variable frequency drive to provide pump off control by varying the speed of the well. On the other hand, high capital cost of intelligent pump solution is one of the major restraints for the global intelligent pump market.
The IoT boom has brought in new opportunities for market players. Rising popularity of IoT product and digitization of industries is viewed a major market driver. Industries also over the world are focusing on the reducing expenses and optimising output, which is driving the adoption of new-age technologies such as the intelligent pumps. These pumps are witnessing an uptake in water treatment plants, chemical plants, and oil & gas processing facilities. The oil and gas sector continues to post a strong demand for intelligent pumps. Such pumps can reduce downtime and maintenance cost to a significant level.
Modernization of facilities to market them sustainable and efficient is expected creating market opportunities. Int terms of revenue, water and wastewater treatment industries has emerge as a major contributor to the market. The U.S depart of agriculture is reportedly shelling out a whooping USD 256 Mn in upgrading water and wastewater treatment infrastructure in the country.
Segmental Analysis
MRFR
On the basis of type, the market has been segmented into positive displacement pump and centrifugal pump.
On the basis of component, the market has been segmented into variable drives, control system and pumps.
On the basis of end-user, the market has been segmented into power generation, water & wastewater, automation, chemical and oil & gas.
Global Intelligent Pumps Market: Regional Analysis
Europe represent the largest market for intelligent pump. Countries such as Germany, France, Italy, the U.K. and Netherland are high industrialized, making attractive destinations for market players. The manufacturing sector in Europe is extremely dynamic and presents lucrative opportunities to market players. At the same time, adoption of cutting-edge technologies such as the digital oil field has created growth avenues. Smart pumps are an important component of smart industrial infrastructure like digital oilfields that work of high accuracy and efficiency. Intelligent pump system facilitates effective pressure and temperature control. In terms of value, Asia Pacific holds the second spot in the global intelligent pumps market. The demand growth in APAC is fuelled by development new water & wastewater treatment plants and adoption of IoT solutions.
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