Intelligent Pump Market to Exhibit a CAGR of 7.4% from 2021 to 2028; Rising Collaborative Efforts Between Dominant Players and Increasing Fluid Control Features to Assist Growth: Fortune Business Insights™
Companies in the Intelligent Pump Market are ITT Corporation, Xylem, KSB Aktiengesellschaft, Flowserve Corporation, Wilo SE, ABB, Grundfos Holding, Sulzar, Colfax Corporation, Regal Beloit, Wanner International, Kirloskar.
Pune, India, March 22, 2022 (GLOBE NEWSWIRE) -- The Intelligent Pump Market size was USD 0.78 billion in 2020. The market is projected to grow from USD 0.80 billion in 2021 to USD 1.32 billion in 2028 at a CAGR of 7.4% during the 2021-2028 period. This vital information is presented by Fortune Business Insights™, in its report, titled, “Intelligent Pump Market, 2021-2028.” Attributes such as monitoring, energy management, and remote-control applications along with additional fluid control features and improved energy efficiency will boost the growth of the market during the forecast period. Additionally, an increasing number of mergers & acquisitions and rising focus on digitalization will increase the footprint of the market.
Delay of New Projects, Disruptive Supply Chains, & Faltering Transport Sector to Limit Market During Pandemic
The COVID-19 pandemic led to heavy disruption in the sector of intelligent pump due to disruptions in supply chains, unavailability of investment within consumers, shutdown of various business practices worldwide, and others. Additionally, lockdowns and restrictions on the movement of people were imposed by various government bodies along with social distancing norms. A faltered transport system and volatility in raw material pricing further decreased the value of the market during the forecast period. However, the implementation of smart city projects for meeting the latest carbon emission projects will help the market toward a revival phase.
Segments
Type, End-User, and Region Are Studied
Based on type, the market is divided into centrifugal pump and positive displacement pump.
By end-user, the market is broken down into building automation, water & wastewater, oil & gas, power generation, chemical, and others.
In terms of geography, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
To get to know more about the short-term and long-term impact of COVID-19 on this market,
The report contains an analytical approach toward the market by encompassing critical factors such as valuable insights, facts, industry-related information, and historical data. Various methodologies and approaches that are used to validate the data are also presented in the report. Additionally, factors that are expected to affect the market in a positive/negative manner are also mentioned.
Drivers & Restraints
Continuous Development, Increased R&D and Rising Number of Smart Cities to Augment Growth
Factors such as regular development cycles, rising R&D activities in terms of investments, and increasing number of smart city projects will drive the intelligent pump market growth during the forecast period. Additionally, the increased focus of players toward commercializing and developing an advanced variation of their products will further increase the footprint of the market. Also, benefits such as procedural benefits, device miniaturization, real-time monitoring capabilities, and rising analytical efficiency will further fuel the growth of the market.
However, higher product costs will cause hindrances to the growth of the market during the forecast period.
Regional Insights
Europe to Hold Dominance During Forecast Due to Increasing Demand for Smart Water Systems
Factors such as increasing demand for smart water systems and increasing measures undertaken toward building automation will push Europe to hold a dominant position over the global intelligent pump market share during the forecast period. Additionally, the region will witness an increasing number of water & wastewater plants coupled with rising demand for clean water across a variety of sectors, further triggering the market growth.
Asia Pacific will witness the fastest growing CAGR during the forecast period due to rapid growth and rising economic activities in industrialization, modern agriculture, and urbanization. Also, rising demand for clean and usable water along with the expanding chemical industry will further fuel the growth of the market during the forecast period.
North America holds a considerable amount of market share in terms of global contribution, owing to the presence of dominant players in the region.
The sector of intelligent pump is highly fragmented with ITT Corporation and Xylem encompassing a majority of the share, with the rest of the market consolidated by small players. The dominant players have secured their hold over the market by introducing intelligent pumps across key regions, including Europe, North America, and Asia Pacific. For example, in June 2021, Seepex GmBH announced a collaboration with Ingersoll Rand Inc for accelerating their growth toward digital technologies and focusing on aftermarket services. Other players are focused on securing consumers worldwide in small quantities to generate substantial revenue.
Industry Development
October 2021 – NETZSCH revealed its line of advanced & intelligent pumps that include various attributes such as rotary lobe pumps & progressing cavity pumps. NETZSCH announced its extended portfolio at the Water Environment Federation Annual Technical Exhibition and Conference 2021.
Major Points
Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Key Emerging Trends – For Major Countries
Latest Technological Advancement
Regulatory Landscape
Industry SWOT Analysis
Porters Five Forces Analysis
Qualitative Analysis – Impact of COVID-19
Impact of COVID-19 on the Intelligent Pump Market
Steps Taken by the Government to Overcome the Impact
Key Developments in the Industry in Response to COVID-19
Potential Opportunities and Challenges due to COVID-19 Outbreak
Global Intelligent Pump Market Analysis (USD Billion), Insights and Forecast, 2017-2028
Key Findings / Summary
Market Analysis, Insights and Forecast – By Type
Centrifugal Pump
Positive Displacement Pump
Market Analysis, Insights and Forecast – By End-User
Building Automation
Water & Wastewater
Oil & Gas
Power Generation
Chemical
Others
Market Analysis, Insights and Forecast – By Region
North America
Latin America
Europe
Asia Pacific
Middle East and Africa
Europe Intelligent Pump Market Analysis (USD Billion), Insights and Forecast, 2017-2028
Key Findings / Summary
Market Analysis, Insights and Forecast – By Type
Centrifugal Pump
Positive Displacement Pump
Market Analysis, Insights and Forecast – By End-User
Building Automation
Water & Wastewater
Oil & Gas
Power Generation
Chemical
Others
Market Analysis, Insights and Forecast – By Country
UK Market Analysis, Insights and Forecast – By End-User
Building Automation
Water & Wastewater
Oil & Gas
Power Generation
Chemical
Others
Germany Market Analysis, Insights and Forecast – By End-User
Building Automation
Water & Wastewater
Oil & Gas
Power Generation
Chemical
Others
France Market Analysis, Insights and Forecast – By End-User
Building Automation
Water & Wastewater
Oil & Gas
Power Generation
Chemical
Others
Italy Market Analysis, Insights and Forecast – By End-User
Building Automation
Water & Wastewater
Oil & Gas
Power Generation
Chemical
Others
Spain Market Analysis, Insights and Forecast – By End-User
Building Automation
Water & Wastewater
Oil & Gas
Power Generation
Chemical
Others
Russia Market Analysis, Insights and Forecast – By End-User
Building Automation
Water & Wastewater
Oil & Gas
Power Generation
Chemical
Others
Rest of Europe Market Analysis, Insights and Forecast – By End-User
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