Intelligent Pumps Market Size was estimated at USD 0.6 Billion in 2022. The Intelligent Pumps market industry is projected to grow from USD 0.64 Billion in 2023 to USD 1.15 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.5% during the forecast period (2023 - 2032). The oil and gas business is becoming digitalized, and Increasing push to keep operating costs under control and Improve manufacturing efficiency are the key market drivers contributing to market growth and expansion.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The rising oil and gas business drives the Market CAGR for intelligent pumps. Digital systems power intelligent pumps. They serve as the contemporary, high-end counterpart to classic pumps. It is a specified pump with variable speed and electronic control capabilities. The digital pumps have sensors that assess efficiency and gather data. Intelligent pumps have several advantages. They allow applications like monitoring, remote control, and energy management.
Furthermore, the smart pump industry's importance is increasing yearly. The industrial sector has a considerable need for these pumps. They have also been employed for complex operations in the past few years. These pumps are in great demand because they provide fluid control and flow capability. All of the clever pumps' functions eventually save money and energy. Intelligent pumps are used in construction, automated industries, water treatment facilities, and grill control systems.
Additionally, there are two key product variants in the intelligent pump industry. The rotary and pumps with positive displacement are the two most important types. Both of these pumps are energy efficient and dependable. The centrifugal pump, in particular, can operate at elevated temperatures and viscosity. Intelligent pumps are less expensive than traditional pumps. During the projection year, prominent market participants are attempting to reduce costs. The intelligent pumps' cost-effectiveness will provide several Growth possibilities. It will be the most preferred pump in the coming years due to its excellent quality and high end.
Furthermore, intelligent pumps are frequently seen in smart cities. The intelligent pumps' activities are appropriate for smart city infrastructure. It is critical in a variety of applications in smart cities. Intelligent pumps are necessary for wastewater management, electricity generation, and other applications. It finally provides several prospects for growth in the intelligent pump industry. Furthermore, intelligent pumps are increasingly used in these sectors as businesses move towards automation.
The worldwide market has faced several hurdles due to the covid 19 epidemic. The production pace of intelligent pumps has been limited due to market constraints. Additionally, demand from end users is reduced as a result. The epidemic has impacted the supply-demand chain. All of these constraints, however, are just transitory. The market will restart its operations. The market's critical drivers will propel overall expansion.
Furthermore, there are several prospects for advancement as a result of this predicament. The current market trends of reducing pumps will not continue. The worldwide intelligent pump market is predicted to increase steadily during forecasting. The temporary setbacks will have little influence on the broader market structure.
For instance, New smart city initiatives in emerging countries provide the potential for the intelligent pump industry to flourish. For example, the World Bank's Board of Executive Directors approved a USD 212 million funding package in June 2021, which included a USD 177 million IBRD loan for a new smart city project in Ukraine. This initiative will increase the country's need for smart pump systems. Thus, it is anticipated that demand for Intelligent Pumps will increase throughout the projected timeframe due to the rising oil and gas business. Thus, driving the Intelligent Pumps market revenue.
The Intelligent Pumps market segmentation, based on pump type, includes centrifugal pumps and positive displacement. The centrifugal pumps category dominated the market, accounting for 64% of market revenue (USD 0.4 billion) in 2022 Â because of its advantages over traditional pumps and its use in a variety of end-use sectors such as agricultural, power production facilities, municipal, oil, and other industries with end-users.
Figure 1: Intelligent Pumps Market, by Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Intelligent Pumps market segmentation, based on End-Users, includes power generation, building automation, oil and gas industry, water and wastewater management, chemicals and gas industry. The building automation category generated the highest market revenue of about 39% (USD 0.1 billion) in 2022. Due to the pumps' suitability for use in smart cities for cooling and water circulation, the building automation category is expected to lead the market. These pumps are also used in wastewater treatment, power production, oil and gas, chemicals in nature, and other end-use sectors.
The research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World by region. The North American intelligent pumps market area will dominate this market during the projected timeframe, owing to an increase in the number of government regulations on environmental pollution which will boost the market growth in the North American region.
Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Intelligent Pumps Market Share by Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe region’s Intelligent Pumps market accounts for the second-highest market share owing to the increased need for smart plumbing and building automation. Countries around Europe are expanding the construction of wastewater and water treatment facilities in response to increasing demands for clean water in various industries. Further, the German Intelligent Pumps market holds the largest market share, and the UK Intelligent Pumps market is expected to grow and expand significantly in the European region during the projected timeframe.
The Asia-Pacific Intelligent Pumps Market is expected to grow quickly during the projected timeframe. The market growth in Asia Pacific can be attributed to subsequent expansions in monetary activities, which include manufacturing, current farming, and urbanization, which magnify the need for clean and reusable drinking water. Moreover, China’s Intelligent Pumps market dominates the market share, and the Indian Intelligent Pumps market is expected to expand and grow steadily in the Asia-Pacific region during the projected timeframe.
Leading market players invested heavily in research and Development (R&D) to scale up their manufacturing units and develop technologically advanced solutions, which will help the Intelligent Pumps market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their footprint, with significant market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Intelligent Pumps industry must offer cost-effective and sustainable options to survive in a highly fragmented and dynamic market climate.
Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the critical business strategies organizations use in the Intelligent Pumps industry to benefit customers and capture untapped market share and revenue. The Intelligent Pumps industry has recently offered significant advantages to the industry. Moreover, more industry participants are utilizing and adopting cutting-edge Technology has grown substantially. Major players in the Intelligent Pumps market, including 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) are attempting to expand market share and demand by investing in R&D operations to produce sustainable and affordable solutions.
Grundfos is the globe's top manufacturer of isolator pumps, making up half of the market. It is an international leader in developed pump remedies and water technology, recently executed a memorandum of agreement with NP to collaborate on the creation of water and water-efficient smart solutions that will lead to a resilient and environmentally friendly constructed environment throughout Southeast Asia through cooperation, recruitment, and retention of talent, and environmentally friendly education.
Regal Beloit Corp is a world-class producer of generators, electrical movement controls, power generation, and power transmission devices. It has four business units: Motion Control Options, Environmental Solutions, Business Systems, and Manufacturing Systems. Regal Rexnord is based in Beloit, Wisconsin, and has production, sales, and service centers worldwide. They announced the inclusion of their new Twentieth VGreen Evo pool pump engine in its product range in August 2021. They use innovative variable speed technology and rank as one of the more environmentally friendly pool pump motors on the market today
June 2022:Grundfos, an international leader in developed pump remedies and water technology, recently executed a memorandum of agreement with NP to collaborate on the creation of water and water-efficient smart solutions that will lead to a resilient and environmentally friendly constructed environment throughout Southeast Asia through cooperation, recruitment, and retention of talent, and environmentally friendly education.
August 2021:Regal Beloit Corporation, an international innovator in producing and designing power transmission systems, announced the inclusion of its new Twentieth VGreen Evo pool pump engine in its product range in August 2021. They use innovative variable speed technology and rank as one of the more environmentally friendly pool pump motors on the market today.
March 2020:Framo and Aker BP announced a smart pump service agreement for saltwater lift pumps on the Norwegian Continental Shelf in March 2020. The six-year deal extends a trial contract started in 2018 by pump provider Framo, production firm Aker BP, and industrial AIÂ SaaS.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.6 Billion |
| Market Size 2023 | USD 0.64 Billion |
| Market Size 2032 | USD 1.15 Billion |
| Compound Annual Growth Rate (CAGR) | 7.5% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Pump Type, End-User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â 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) |
| Key Market Opportunities | Growth in the digital fields of oil |
| Key Market Dynamics | The oil and gas business is becoming digitalized. Increasing push to keep operating costs under control Improve manufacturing efficiency |
Intelligent Pumps Market Highlights:
Frequently Asked Questions (FAQ) :
The Intelligent Pumps market size was estimated at USD 0.6 Billion in 2022.
The worldwide Intelligent Pumps market is projected to grow and expand at a CAGR of 7.5% during the forecast period, 2023-2032.
North America had the largest share of the market
The key participants in the market are 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).
The Centrifugal pumps dominated the Intelligent Pumps market in 2022.
Building Automation had the largest share of the market.
Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
