PUBLISHER: Allied Market Research | PRODUCT CODE: 1179671
PUBLISHER: Allied Market Research | PRODUCT CODE: 1179671
The global intelligent pumps market size was valued at $1,032.8 million in 2021, and is projected to reach $2,108.8 million by 2031, registering a CAGR of 5.6% from 2022 to 2031. Intelligent pumps are advanced version of ordinary pumps that incorporate advanced technologies that enhance operational efficiency and offers features, such as remote control.
Intelligent pumps are available in the market with varying level of automation and intelligence. Often, intelligent pumps are used by industries that are large and very complex, and by using intelligent pumps they can reduce the operational and maintenance cost complex pumping system.
The rise in population, globalization, and rise in disposable income of people have fueled the growth of various industries, such as, manufacturing, petrochemical, food and beverages, and others. Furthermore, population growth and urbanization are driving the demand for energy, which eventually propels the growth of oil & gas industry, thereby positively influencing the intelligent pump market. However, high setup cost of intelligent pumps and fluctuating cost of raw materials used for manufacturing intelligent pump systems are expected to constraint the market growth. Furthermore, development of technologies that have enabled the remote monitoring and operation of intelligent pumps is expected to provide lucrative opportunities for the intelligent pump market growth.
The intelligent pumps market is segmented on the basis of type, component, end-user industries, and region. By type, the market is bifurcated into centrifugal and positive displacement. On the basis of component, it is categorized into pumps and control systems. On the basis of end-user industry, the market is bifurcated into industrial and building solutions. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players that operate in the global market have adopted key strategies such as business expansion, product launch, and partnership to strengthen their market outreach and sustain the stiff competition in the market
Competition Analysis
Key companies profiled in the intelligent pump market report include ABB, All Pump Solutions, Armstrong Fluid Technology, Circor International, Inc., Flowserve Corporation, Grundfos Holding A/S, Ingersoll Rand Inc., ITT Inc., Ketek Group, Kirloskar Brothers Limited (India), KSB SE & Co. KGaA, Sulzer Ltd., Unico LLC., Wanner International Ltd. (Hydra-Cell), Wilo SE, Xylem Inc., and Yaskawa Electric Corporation.
Key Benefits For Stakeholders
By End User Industry
By Type
By Component
By Region