According to a new report published by Transparency Market Research titled “Digital Pump Controller Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,” the global digital pump controller market was valued at US$ 8.20 Bn in 2017 and is expected to reach US$ 14.64 Bn by 2026, expanding at a CAGR of 6.6% from 2018 to 2026. Asia Pacific was a significant contributor to the global digital pump controller market in terms of revenue in 2017 due to high adoption of digital pump controllers in agriculture and oil & gas industries, especially in India and Japan.
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Ease of use and environment-friendly features of digital pump controllers to drive market growth
Technological advancement drives the growth of the digital pump controller market. Increase in use of solar water pumps, especially in agriculture and irrigation, is boosting the demand for digital pump controllers across the world. Digital pump controllers eliminate the need of manual switching of pumps installed for pumping water from a reservoir to an overhead tank. Furthermore, it uses electrical sensors which provide more accurate data than pneumatic sensors used by traditional pump controllers. Additionally, digital pump controllers offer a visible control panel that enables users to effectively manage the performance of the device. Also, it can be more easily integrated with a system. Besides, digital pump controllers can be operated remotely via mobile or remote control. Additionally, they can be operated by radio frequency, SMS/GSM, App, and SCADA systems. Thus, features such as quick set up and ease of use are expected to drive the growth of the digital pump controller market during the forecast period. Digital pump controllers also help in reducing energy consumption by increasing the capacity of the battery or by using advanced pump solutions. Moreover, stringent government regulations regarding effective use of water, energy, and equipment that consume less energy and do not give rise to environmental pollution are likely to drive the adoption of digital pump controllers around the globe in the near future. However, lack of awareness and technical challenges are restricting the growth of the global digital pump controller market. People in rural areas are mostly uneducated and lack the know-how of operating electronic equipment such as pump controllers via mobile, app, or remote solutions. Thus, lack of awareness is a key challenge faced by this market.
Scope of the Report
The global digital pump controller market has been segmented based on connectivity, distribution channel, industry, and region. Based on connectivity, the global digital pump controller market has been classified into conventional pump controller and mobile/remote pump controller. Based on distribution channel, the market has been segregated into online and retail. The retail segment has been further split into company-owned and third party. In terms of industry, the market has been divided into manufacturing, public sector, agriculture, and residential.The agriculture segment is expected to expand at a high CAGR, thus becoming the leading revenue generating segment of the market by 2026. This is mainly due to increase in adoption of water pumps by farmers, especially in Asia Pacific. The manufacturing segment has been further bifurcated into food & beverage, pharmaceutical, oil & gas, textile & paper, chemicals, biotechnology, and construction. The public sector segment has been further split into water & wastewater treatment and pumping stations.
Based on region, the global digital pump controller market has been categorized into Europe, North America, Middle East & Africa, Asia Pacific, and South America. North America is expected to maintain its dominant position in the global market during the forecast period. Asia Pacific and Europe are also expected to hold major market share in the next few years.
Competitive Dynamics
Key players operating in the global digital pump controller market include C&S Electric Limited, Dwyer Instruments, Inc., Sulzer Ltd., Kirloskar Brothers Limited, Precision Digital Corporation, Grundfos, Spring (Europe) Ltd., Valmont Industries, Inc.(Vally), Xylem Inc., and Remote Control Technology.
The global digital pump controller market has been segmented as below:
By Connectivity
- Conventional Pump Controller
- Mobile/Remote Pump Controller
By Distribution Channel
- Online
- Retail
- Company-owned
- Third Party
By Industry Vertical
- Manufacturing
- Food & Beverage
- Pharmaceutical
- Oil & Gas
- Textile & Paper
- Chemicals
- Biotechnology
- Construction
- Public Sector
- Water &Wastewater Treatment
- Pumping Stations
- Agriculture
- Residential
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