Smart & Intelligent Pumps Market - SITE LICENSE

Pumps are employed for numerous processes across different end users and play an integral part in a number of functionalities. Globalization has led to more opportunities for expanding the supply chain and has also reduced the manufacturing costs. Monitoring controls and digitization now provide more efficiency and energy-saving through intelligent pumping solutions, with the advent of variable frequency speed drives.

Not only energy efficiency but also system efficiency is looked upon as an important criterion when selecting between standard systems and intelligent pump systems. Intelligent pumps have the potential to not only decrease the operating costs but also reduce the plant downtime.
Centrifugal and positive displacement pumps are some of the smart & intelligent pumps widely used across various end-user applications. The global smart & intelligent pumps market in terms of application is segmented into oil & gas industry, water & wastewater industry, power industry, chemical industry, and general industry. Pumps in the oil & gas industry are used for chemical transfers, injection tasks, and stream stripping, among others. The need for intelligent pumping systems in the oil & gas industry arises due to strict regulations regarding environmental regulations for energy consumption and pollution. The oil & gas industry is the largest consumer of intelligent pumping systems.
The global smart & intelligent pumps market is expected to grow at a CAGR of 6.68% 2018 and 2023 in terms of value.
The report is a compilation of the different segments of the global smart & intelligent pumps market, including market breakdown by pump type, application, and geographical areas. Herein the revenue generated from the pump type (centrifugal pump and positive displacement pump), application (oil & gas industry, water & wastewater industry, power industry, chemical industry, and general industry),and geographies (North America, Europe, Asia-Pacific, Middle East and Africa, and South America) are tracked to calculate the overall market size in terms of value ($million). While highlighting the key driving and restraining forces for this market, the report also provides a detailed summary of the global smart & intelligent pumps market. The report also includes sections on the key participants involved in the industry.
Key questions answered in the report:
• What was the size in terms of value ($million) of the smart & intelligent pumps market in 2017, and what will be the growth rate during the forecast period 2018-2023?
• What will be the market size of different types of pumps (by value) and their growth rate during the forecast period 2018-2023?
• What will be the market size of different applications of smart & intelligent pumps market (by value) and their growth rate during the forecast period 2018-2023?
• What will be the market size for different regions and countries in terms of value in the smart & intelligent pumps market and their growth rate in the forecast period 2018-2023?
• What are the major driving forces that tend to increase the demand for smart & intelligent pumps in various end-user industries during the forecast period?
• What are the major challenges inhibiting the growth of the global smart & intelligent pumps market?
• What are the competitive strengths of key players in the global smart & intelligent pumps based on the market share analysis?
• Who are the key players (along with their detailed analysis and profiles including their financials, company snapshots, key products & services, and SWOT analysis) in the market?
The report further includes a thorough analysis of the impact of the Porter’s Five Forces to understand the overall attractiveness of the industry. The most commonly-used strategy for developing a better hold on the market has been partnerships, collaborations, and joint ventures. Moreover, the company profile section highlights significant information about the key companies involved along with their financial positions, key strategies, and developmental activities of recent years.
Further, the report includes an exhaustive analysis of the geographical split into North America, Europe, Asia-Pacific (APAC), Middle East & Africa, and South America. Each geography details the individual restraining and driving forces in addition to the key players from that region. This report is a meticulous compilation of research on more than 100 players in the global smart & intelligent pumps market and draws upon insights from in-depth interviews with the key opinion leaders of more than 50 leading companies, market participants, and vendors. The report also profiles approximately 16 companies with their financial analysis, SWOT, and product portfolio.
The company profiles in the report include KSB Group, Colfax Corporation, Pentair plc, Spirax-Sparco Engineering plc, Grundfos Holding A/S, Kirloskar Group, Yaskawa Electric Corporation, SEEPEX GmbH, GRUNWL, Sulzer Ltd., Xylem, Inc., ITT, Inc., Flowserve Corporation, Wilo SE, and Regal Beloit Corporation.
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Report URL: https://bisresearch.com/industry-report/smart-and-intelligent-pumps-market.html
Pumps are employed for numerous processes across different end users and play an integral part in a number of functionalities. Globalization has led to more opportunities for expanding the supply chain and has also reduced the manufacturing costs. With the advent of variable frequency speed drives, monitoring controls and digitization now provide more efficiency and energy-saving through intelligent pumping solutions.
Although smart & intelligent pumps offer potential benefits, they have not garnered much wider adoption. The reason behind this is reluctance to shift from the conventional pumping systems to the new smart & intelligent pumps. The cultural change is the most challenging aspect for the adoption of smart & intelligent pumps. Industries such as the oil & gas are conservative in their approach. However, it is anticipated that the potential benefits of smart & intelligent pumps will bring about a change in the market.
High costs of energy are forcing the end users to think of more innovative ways to control costs. In pumping frameworks, energy costs represent more than 33% of aggregate lifecycle costs. As a consequence of the high energy requirement by conventional pumps, the energy-efficient nature of smart & intelligent pumps will be a major factor for its market development. Assessment credits and government mandates focusing on energy-efficient projects are additionally anticipated to impact the development of smart & intelligent pumps positively.
The global smart & intelligent pumps market in terms of value was estimated at $1,860.0 million in 2017 and is expected to reach $XX million by 2023, expanding at a CAGR of XX% from 2018 to 2023. The growth of the market can be attributed to an increasing need from various end users for energy efficiency.
Some of the factors driving the growth of the global smart & intelligent pumps market are the strict government regulations for enforcing energy efficiency, operational flexibility offered by these pumps, and demand from various industries to reduce the operational costs.
Strong emphasis from the government on saving energy costs has led to an increased pressure on companies on finding efficient ways for energy utilization. The reduction in energy consumption not only brings the input costs down but also helps in lowering carbon dioxide emissions. Energy efficiency is becoming an important matter of concern, leading to a growing need for introducing energy-efficient products in the market. Intelligent pumping systems contribute to 70% of the energy savings as compared to the energy saving contributed by conventional pumping systems.
In 2017, centrifugal pumps segment dominated the global smart & intelligent pumps market with a market share of XX%, accounting for a market size of $XX million. The segment is expected to account for a market size of $2,605.4 million by the end of 2023, expanding at a CAGR of XX%. The growth of the centrifugal pumps segment can be attributed to the easy maintenance of these pumps, thus rendering an economical advantage.
The positive displacement pumps segment accounted for a market size of $99.7 million in 2017 and is expected to account for a market size of $XX million by the end of 2023. Positive displacement pumps are used for very specific applications which make them less preferred as comparison to centrifugal pumps.
Water & wastewater application is expected to show the fastest growth during the forecast period
Global smart & intelligent pumps market in terms of application is segmented into oil & gas industry, water & wastewater industry, power industry, chemical industry, and general industry. The oil & gas industry segment accounted for a market value of $658.7 million in 2017 and is expected to reach $XX million by the end of 2023, growing at a CAGR of XX% during the forecast period. The oil & gas industry has a high demand for intelligent pumping solutions, as these pumps enable easy monitoring of remote locations, thus cutting down on costs. The water & wastewater industry contributed to XX% of the total intelligent pumps revenue in 2017. The key driving factor of intelligent pumps across the water and the wastewater industry is the demand for automated systems that can monitor the quality of water.
The Asia-Pacific region accounted for the largest market revenue share of XX% in 2017. The growth of the intelligent pumps in the region can be attributed to a well-established industrial base. The smart & intelligent pumps market in the region is driven by huge investments in industries such as water, wastewater, and related processing. Increasing investments for water treatment and rapid development of the oil & gas industry are expected to propel the demand for intelligent pumps in the Asia-Pacific region.
Apart from Asia-Pacific, the Europe region is witnessing a fuelling demand for intelligent pumps due to the changing legislation. With end users under strain to comply with the strict government policies, the emphasis is progressively on gaining more versatile and advanced pumps that can decrease vitality costs and in addition address the issues of cavitation and dead heading.
The only challenge faced by the intelligent pumps manufacturers in the Europe region is to educate the end users about the potential benefits of intelligent pumps and their application that can bring about a change in their system process.
Asia-Pacific
China
Japan
India
Australia & New Zealand (ANZ)
South Korea
Rest-of-Asia-Pacific
Europe
The U.K.
Germany
France
Italy
Russia
Rest-of-Europe
North America
The U.S.
Canada
Mexico
Middle East & Africa (MEA)
The U.A.E.
Saudi Arabia
South Africa
Iran
Rest-of-Middle East & Africa (MEA)
South America
Brazil
Colombia
Argentina
Rest-of-South-America
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According to a new market intelligence report by BIS Research, titled ‘Global Smart & Intelligent Pumps Market - Analysis and Forecast, 2018-2023’, the global smart & intelligent pumps market is expected to reach $2,741.8 million by 2023.
BIS Research Report:
The Asia-Pacific region accounted for the largest market revenue share of 37.8% in 2017. The growth of the intelligent pumps in the region can be attributed to a well-established industrial base. The smart & intelligent pumps market in the region is driven by huge investments made in industries such as water, wastewater, and related processing. Increasing investments for water treatment and rapid development of the oil & gas industry are expected to propel the demand for intelligent pumps in the Asia-Pacific region.
Apart from Asia-Pacific, the Europe region is witnessing a fueling demand for intelligent pumps due to the changing legislation. With end users under strain to comply with the strict government policies, the emphasis is progressively on gaining more versatile and advanced pumps that can decrease vitality costs and in addition address issues of cavitation and dead heading.
According to Arpit Benjwal, Lead Analyst at BIS Research, “The market for centrifugal smart & intelligent pumps accounted for a market revenue share of 94.64% of the total smart & intelligent pumps market in 2017.” The high preference for centrifugal pumps can be attributed to their versatile properties which make them the most preferred pump type as compared to their counterparts. The key advantage of centrifugal pumps is their ability to throttle their flowrates over a varying range.
Another important advantage of centrifugal pumps is that they aid in reducing the costs to the end users. Since the energy cost is one of the most important factors in the total cost of a pump, it is significantly reduced with the use of centrifugal pumps. In comparison with all other pump types, centrifugal pumps have the highest potential to cut down energy costs significantly and are thus the best option.
Some of the key players in the global smart & intelligent pumps market include KSB Group, Colfax Corporation, Pentair plc, Spirax-Sarco Engineering plc, Grundfos Holding A/S, Kirloskar Group, Yaskawa Electric Corporation, SEEPEX GmbH, GRUNWL, Sulzer Ltd., Xylem, Inc., ITT, Inc., Flowserve Corporation, Wilo SE, and Regal Beloit Corporation.
The dominant strategy adopted by the smart & intelligent pump manufacturers is to expand their product portfolio by launching new innovative and competitive products. Also, a number of companies involved in the pumps industry entered in the smart & intelligent pumps market by launching intelligent pumping solutions in the market. For instance, on 24 August 2018, Wilo group launched the Wilo Stratos MAXO, a smart pump with integrated intelligence. Similarly, on 23 August 2018, Sulzer Ltd. launched a next generation intelligent pump controller meant for water & wastewater industry.
This report is a meticulous compilation of research on more than 100 players in the smart & intelligent pumps market and draws upon the insights from in-depth interviews with the key opinion leaders of more than 50 leading companies, market participants, and vendors. The report also presents company profiles of approximately 15 companies.
• What was the size of the smart & intelligent pumps market in terms of value ($million) in 2017, and what will be the growth rate during the forecast period 2018-2023?
• What will be the market size of different types of pumps (by value) and their growth rate during the forecast period 2018-2023?
• What will be the market size of different applications of smart & intelligent pumps market (by value) and their growth rate during the forecast period 2018-2023?
• What will be the market size for different regions and countries in terms of value in the smart & intelligent pumps market and their growth rate in the forecast period 2018-2023?
• What are the major driving forces that tend to increase the demand for smart & intelligent pumps in various end-user industries during the forecast period?
• What are the major challenges inhibiting the growth of the global smart & intelligent pumps market?
• What are the competitive strengths of key players in the global smart & intelligent pumps based on the market share analysis?
• Who are the key players (along with their detailed analysis and profiles including their financials, company snapshots, key products & services, and SWOT analysis) in the market?
Colfax Corporation
Flowserve Corporation
Grundfos Holding A/S
GRUNWL
ITT, Inc.
Kirloskar Group
KSB Group
Pentair plc
Regal Beloit Corporation
SEEPEX GmbH
Spirax-Sarco Engineering plc
Sulzer Ltd
Wilo SE
Xylem, Inc.
Yaskawa Electric Corporation
Global Smart & Intelligent Pumps Market is Anticipated to Reach $2,741.8 Million by 2023, BIS Research Report