Pune, India, March 22, 2022 (GLOBE NEWSWIRE) -- The Intelligent Pump Market size was USD 0.78 billion in 2020. The market is projected to grow from USD 0.80 billion in 2021 to USD 1.32 billion in 2028 at a CAGR of 7.4% during the 2021-2028 period. This vital information is presented by Fortune Business Insights™, in its report, titled, “Intelligent Pump Market, 2021-2028.” Attributes such as monitoring, energy management, and remote-control applications along with additional fluid control features and improved energy efficiency will boost the growth of the market during the forecast period. Additionally, an increasing number of mergers & acquisitions and rising focus on digitalization will increase the footprint of the market.
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Companies Operating in Intelligent Pump Market Report:
- ITT Corporation (U.S.)
- Xylem (U.S.)
- KSB Aktiengesellschaft (Germany)
- Flowserve Corporation (U.S.)
- Wilo SE (Germany)
- ABB (Switzerland)
- Grundfos Holding (Denmark)
- Sulzar (Switzerland)
- Colfax Corporation (U.S.)
- Regal Beloit (U.S.)
- Wanner International (U.K.)
- Kirloskar (India)
Intelligent Pump Market Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 7.4% |
| 2028 Value Projection | USD 1.32 Billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 0.78 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 180 |
| Segments covered | Type, End-User, and Region |
| Intelligent Pump Market Growth Drivers | Continuous Development, Increased R&D and Rising Number of Smart Cities to Augment Growth |
| Europe to Hold Dominance During Forecast Due to Increasing Demand for Smart Water Systems | |
| Dominant Players to Secure Market Position by Introducing Novel Products |
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COVID-19 Impact
Delay of New Projects, Disruptive Supply Chains, & Faltering Transport Sector to Limit Market During Pandemic
The COVID-19 pandemic led to heavy disruption in the sector of intelligent pump due to disruptions in supply chains, unavailability of investment within consumers, shutdown of various business practices worldwide, and others. Additionally, lockdowns and restrictions on the movement of people were imposed by various government bodies along with social distancing norms. A faltered transport system and volatility in raw material pricing further decreased the value of the market during the forecast period. However, the implementation of smart city projects for meeting the latest carbon emission projects will help the market toward a revival phase.
Segments
Type, End-User, and Region Are Studied
Based on type, the market is divided into centrifugal pump and positive displacement pump.
By end-user, the market is broken down into building automation, water & wastewater, oil & gas, power generation, chemical, and others.
In terms of geography, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
To get to know more about the short-term and long-term impact of COVID-19 on this market,
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Report Coverage
The report contains an analytical approach toward the market by encompassing critical factors such as valuable insights, facts, industry-related information, and historical data. Various methodologies and approaches that are used to validate the data are also presented in the report. Additionally, factors that are expected to affect the market in a positive/negative manner are also mentioned.
Drivers & Restraints
Continuous Development, Increased R&D and Rising Number of Smart Cities to Augment Growth
Factors such as regular development cycles, rising R&D activities in terms of investments, and increasing number of smart city projects will drive the intelligent pump market growth during the forecast period. Additionally, the increased focus of players toward commercializing and developing an advanced variation of their products will further increase the footprint of the market. Also, benefits such as procedural benefits, device miniaturization, real-time monitoring capabilities, and rising analytical efficiency will further fuel the growth of the market.
However, higher product costs will cause hindrances to the growth of the market during the forecast period.
Regional Insights
Europe to Hold Dominance During Forecast Due to Increasing Demand for Smart Water Systems
Factors such as increasing demand for smart water systems and increasing measures undertaken toward building automation will push Europe to hold a dominant position over the global intelligent pump market share during the forecast period. Additionally, the region will witness an increasing number of water & wastewater plants coupled with rising demand for clean water across a variety of sectors, further triggering the market growth.
Asia Pacific will witness the fastest growing CAGR during the forecast period due to rapid growth and rising economic activities in industrialization, modern agriculture, and urbanization. Also, rising demand for clean and usable water along with the expanding chemical industry will further fuel the growth of the market during the forecast period.
North America holds a considerable amount of market share in terms of global contribution, owing to the presence of dominant players in the region.
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Competitive Landscape
The sector of intelligent pump is highly fragmented with ITT Corporation and Xylem encompassing a majority of the share, with the rest of the market consolidated by small players. The dominant players have secured their hold over the market by introducing intelligent pumps across key regions, including Europe, North America, and Asia Pacific. For example, in June 2021, Seepex GmBH announced a collaboration with Ingersoll Rand Inc for accelerating their growth toward digital technologies and focusing on aftermarket services. Other players are focused on securing consumers worldwide in small quantities to generate substantial revenue.
Industry Development
- October 2021 – NETZSCH revealed its line of advanced & intelligent pumps that include various attributes such as rotary lobe pumps & progressing cavity pumps. NETZSCH announced its extended portfolio at the Water Environment Federation Annual Technical Exhibition and Conference 2021.
Major Points
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Intelligent Pump Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments in the Industry in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Global Intelligent Pump Market Analysis (USD Billion), Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Centrifugal Pump
- Positive Displacement Pump
- Market Analysis, Insights and Forecast – By End-User
- Building Automation
- Water & Wastewater
- Oil & Gas
- Power Generation
- Chemical
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
- Europe Intelligent Pump Market Analysis (USD Billion), Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Centrifugal Pump
- Positive Displacement Pump
- Market Analysis, Insights and Forecast – By End-User
- Building Automation
- Water & Wastewater
- Oil & Gas
- Power Generation
- Chemical
- Others
- Market Analysis, Insights and Forecast – By Country
- UK Market Analysis, Insights and Forecast – By End-User
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- Building Automation
- Water & Wastewater
- Oil & Gas
- Power Generation
- Chemical
- Others
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- Germany Market Analysis, Insights and Forecast – By End-User
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- Building Automation
- Water & Wastewater
- Oil & Gas
- Power Generation
- Chemical
- Others
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- France Market Analysis, Insights and Forecast – By End-User
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- Chemical
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- Italy Market Analysis, Insights and Forecast – By End-User
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- Building Automation
- Water & Wastewater
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- Chemical
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- Spain Market Analysis, Insights and Forecast – By End-User
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- Building Automation
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- Russia Market Analysis, Insights and Forecast – By End-User
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- Rest of Europe Market Analysis, Insights and Forecast – By End-User
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- Building Automation
- Water & Wastewater
- Oil & Gas
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- Chemical
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