Global Intelligent Pumps Market: Snapshot
Intelligent pumps provide operational efficiency by automating regulation and control of the flow or pressure of water or other fluids. They also offer real-time operating data on the pumping equipment. As a result, they eliminate the need for maintenance staff to repair and monitor the equipment. Such advantages have steadily driven the sales of intelligent pumps despite the high cost of installing them. Besides, constant thrust on product development by key players in order to steal a march over their competitors is also boosting the market.
Currently, the global intelligent pump market is fragmented in nature due to the presence of a large number of regional and international players of various sizes. The players are seen banking upon strategic collaborations and also building proper distribution channels to drive sales and bolster their positions.
A study by Transparency Market Research forecasts the global intelligent pumps market to attain a value of US$748.5 mn by 2025 from US$424.4 mn in 2016 by clocking a CAGR of 6.4% from 2017 to 2025.
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Variable Speed Drives Dominate Market due to their Crucial Role in Automating Fluid Flow
Depending upon the type of component, the global intelligent pumps market can be segmented into pump motor, variable speed drive, control system, etc. Of them, the segment of variable speed drive accounted for about 40.0% share in the market in 2016. This is because variable-frequency drive or variable-speed drive, which regulates the speed and rotational force (or torque output) of an electric motor, helps to automate the process of the fluid travelling inside a pipeline. The variable speed drive can be further divided into high quality variable speed drive and low quality variable speed drive.
Based on application, the global intelligent pumps market can be divided into buildings, industry, water utility, etc. Of them, the industrial segment led the market with maximum share – about 70.0% in 2016. It was trailed by water-utility segment, which is further divided into water supply, waste water, and others.
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Cheap Intelligent Pumps Manufactured in China Propels Asia Pacific Market
From a geographical standpoint, Europe is the dominant region in the global intelligent pumps market. In 2016, its dominant share came to about 35.0%. By rising at a CAGR of 5.8% in the forecast period, the region is expected to grow its leading share owing to the strong demand for clean drinking water which in turn require intelligent pumps. The TMR report predicts the region to pull in a revenue to the tune of US$253.5 by 2025-end.
In terms of growth rate, Asia Pacific is expected to surpass all other regions by clocking a CAGR of 7.3% between 2017 and 2025. China is said to be primarily powering growth in the region. This is because the country is one of the major exporters of cheap pumps to the Middle East and Africa, which does not have domestic manufacturing bases for pumps. Apart from China, India is another key market in the region. Government investments in industrialization and urbanization is expected to boost the intelligent pumps market in the region. Besides, thrust on overhauling antiquated agricultural methods is also serving to catalyze growth in the market in India.
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Because of the high cost of manufacturing intelligent pumps in Europe and America, their markets are losing share to Asia Pacific. Helping to overcome that challenge, to a degree, is the constant investments in product development.
Some of the key participants in the global intelligent pumps market are Grundfos Holding A/S, Goulds Pumps, QuantumFlo, Inc., Kirloskar Brothers Limited, and Alfa Laval.
