The global intelligent pump market size was USD 1.1 Bn in 2021 and is likely to reach USD 2 Bn by 2030, expanding at a CAGR of 7.1% during 2022–2030. The market growth is attributed to the rising demand for automation and smart management of resource circulation operations in various end-user industries.
An intelligent pump is capable of automatically regulating and controlling the flow or pressure of liquid or gas with the help of smart sensors and digital technology. The integration of computing capabilities in pumps makes them proactive, reactive, and preventive.
Intelligent pumps communicate with each other, Internet of Things (IoT) devices, and the operators for exchanging data or instructions, to function in a smart mode. The key objective of intelligent pumps is to dynamically adjust to operational requirements to save unnecessary wastage of resources and bring more efficiency to the main system.
Additionally, intelligent pumps are able to save energy and also cut down the error risks, which helps in saving costs. The major areas where industrial pumps are utilized are water treatment, building automation, industrial liquid & gas supply, wash & clean, temperature control, boilers & systems, and machining & desalination.
COVID-19 Impact on Intelligent Pump Market
The market report finds that the COVID-19 pandemic hampered the growth of the global intelligent pumps market share. The lockdown restrictions imposed by various governments across the world have significantly affected manufacturers in the intelligent pump industry.
The key issue faced by the industry during the peak of the pandemic was the complete closure or slowdown of manufacturing operations. In addition, social distancing restrictions resulted in a shortage of workforce. Some of the key players in the market also faced a shortage of raw material supply, as supply chain operations across the globe were affected.
Since the majority of suppliers are located in China or in South Asian countries where lockdown measures were strict, sourcing raw materials for smart pump manufacturing become a challenging task. Furthermore, the economic slowdown initially resulted due to limited industrial activities in every sector declined the demand for industrial pumps. The installation of intelligent pumps got affected owing to lockdown restrictions which also affected the business of key companies in the intelligent pump industry.
Intelligent Pump Market Dynamics
The research report presents a complete market overview by providing detailed information about the current market trends, existing drivers, growth opportunities and potentials, and emerging challenges. The global intelligent pump market report has up-to-date insights about market scenarios that can shape the overall market performance and output during the forecast period, 2022 to 2030.
Key Trends
The rising automation trend across industries with technology integration is expected to boost the global market growth in the coming years. Automation in industrial operations is becoming highly possible with the addition of technology solutions such as IoT devices & equipment, computer vision, Artificial Intelligence (AI), and Machine Learning (ML).
The major advantage intelligent pump is expected to provide to industries is effective monitoring and regulating the usage of resources in different operations. This results in minimizing manual errors and saving costs on a long-term basis.
Drivers
Growing Demand for Efficient Energy Management
The growing demand for efficient management of energy resources across various industries is driving the global intelligent pump market. The rising awareness about energy conservation and sustainability in businesses is resulting in businesses turning towards smart solutions that can dynamically adjust to the surrounding factors.
Smart pumps act in specific ways based on the current requirements of the system. Moreover, the intelligent pump integration enables companies to save high on energy resources as the pump smartly turns on and off, or adjusts to requirements.
Increasing Smart Cities Development
One of the key drivers for the global intelligent pump market is rising smart cities across the world. Smart cities’ project infrastructure includes intelligent devices, machines, and equipment installed everywhere for the efficient handling of various operations and also minimizing risks.
Smart solutions such as intelligent pump aid in reducing the unnecessary loss of resources. The intelligent pumps are expected to help local authorities efficiently manage water, oil, gas, and other such resources.
Restraints
The high initial cost required for buying and installing intelligent pumps is expected to restrain the global market growth in the coming years. The high cost required for the products results in reluctance from manufacturers in adopting intelligent pump solutions in their industrial operations. However, competitive pricing and advancement in manufacturing intelligent pump solutions are expected to create affordable solutions for the various end user industries.
Opportunities
Advancements in smart sensors, pump systems, and IoT devices are expected to create lucrative opportunities for the global intelligent pumps market share growth. Furthermore, the continuous upgrade in monitoring and sensor technology in intelligent pump systems is expected to provide real-time data monitoring enabling advanced process control to the end-user industries.
The advanced process control over the intelligent pump systems offers various procedural benefits including improvement of operations, hyper-automation, and reduction in resource loss, among others.
Scope of Intelligent Pump Market Report
The global intelligent pump market research report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Intelligent Pump Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2021
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Historic Data
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2019–2020
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Forecast Period
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2022–2030
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Segmentation
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Pump Types (Positive Displacement and Centrifugal), Components (Control Systems, Variable Drives, and Pumps), and End-users (Water & Wastewater, Building Automation, Chemicals, Oil & Gas, Power Generation, Mining Industry, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Intelligent Pump Market Size and Analysis, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Xylem; KSB SE & Co. KGaA; ITT INC.; Flowserve Corporation; Emerson Electric Co.; Goulds Pumps; ABB; Grundfos Holding; Sulzer Ltd; WILO SE; Regal Rexnord Corporation; Wanner International Limited; KIRLOSKAR BROTHERS LIMITED; YASKAWA ELECTRIC CORPORATION; Grunwl; Ingersoll Rand; All Pump Solutions; Armstrong Fluid Technology; Circor International, Inc.; Ketek Group; Rockwell Automation, Inc.; ALFA LAVAL; Bosch Rexroth AG; and Liberty Pumps.
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Intelligent Pump Market Segment Insights
What are Main Aspects that Boost the Centrifugal Pump Type Segment?
Based on pump types, the global intelligent pump market is divided into positive displacement and centrifugal. The centrifugal pump type segment held the largest share of the market in 2021 and is expected to expand at the fastest growth rate during the forecast period. Centrifugal pumps have high-technical applications in different industrial operations and require less maintenance cost, owing to which their product demand is higher in the global market.
Centrifugal pumps are able to handle various pressure circumstances and they are also able to move highly sticky fluids. Moreover, these pumps have a simple design and high efficiency. They are beneficial to companies in agriculture, power generation, petroleum, water, and waste water treatment industry among others to cut down expenses and improve operational efficiency.
Positive displacement pump type segment is anticipated to witness considerable growth in the market in the coming years. The segment growth is attributed to the regular demand for positive displacement pumps for specific applications in industrial operations. Additionally, industrial pumps are highly effective in moving higher-viscosity fluids. Unlike centrifugal smart pumps, positive displacement pumps produce the same flow speed, no matter the discharge level pressure.
How is Control Systems Segment Generating More Revenue Share in Intelligent Pump Market?
On the basis of components, the global market is segregated into control systems, variable drives, and pumps. The control systems segment is projected to register a considerable compound annual growth rate during the forecast period, owing to its higher applications in saving energy. The control systems segment held more than 45% share of the global market in 2021, due to its high utilization in various end-user industries for larger process control and saving energy.
Variable drives segment is expected to hold a considerable share of the global market in the coming years. The variable drives are utilized for fine-tuning pressure or flow to the required limits. Additionally, variable drives are important in automating fluid flow.
What Key Factors Contribute to Rapid Expansion of the Building Automation Segment?
Based on end-users, the global intelligent pump market is divided into water & wastewater, building automation, chemicals, oil & gas, power generation, mining industry, and others. The building automation segment is projected to expand at a significant growth rate during the projection period.
The building automation system is a central system that manages HVAC (heating, ventilation, and air conditioning), security, electricity, and access controls of the building. The building automation segment growth is supported by the rising demand for intelligent pumps for the automation of electricity, air conditioning, and water circulation among other controls of the building,
Water & wastewater segment is anticipated to hold a key share of the market in the coming years owing to the high demand for smart solutions for implementing smart cities civil infrastructure projects. The smart pump solutions are expected to aid local authorities in minimizing losses and maximizing efficiency. Additionally, the wastewater can be efficiently processed with the help of intelligent pump solutions, which helps in minimizing maintenance costs.
Why is Asia Pacific Dominating Intelligent Pump Market?
In terms of regions, the global intelligent pump market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market size of Asia Pacific is anticipated to dominate the market during the forecast period.
The rising demand for intelligent pump solutions in the region is attributed to the rising smart cities and construction industry in the emerging economies of the region. The growing development of smart cities across India is expected to significantly drive the Asia Pacific growth in the coming years.
Europe is also expected to grow rapidly in the global market owing to the rising demand for intelligent pumps in developing smart water solutions, efficient management of electricity, and building automation. Additionally, the different end-user industries in the region are focusing on adopting smart solutions to comply with strict government regulations in managing resources such as water, electricity, chemicals, and fuels.
Segments
The global intelligent pump market has been segmented on the basis of
Pump Types
- Positive Displacement
- Centrifugal
Components
- Control Systems
- Variable Drives
- Pumps
End-users
- Water & Wastewater
- Building Automation
- Chemicals
- Oil & Gas
- Power Generation
- Mining Industry
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Xylem
- KSB SE & Co. KGaA
- ITT INC.
- Flowserve Corporation
- Emerson Electric Co.
- Goulds Pumps
- ABB
- Grundfos Holding
- Sulzer Ltd
- WILO SE
- Regal Rexnord Corporation
- Wanner International Limited
- KIRLOSKAR BROTHERS LIMITED
- YASKAWA ELECTRIC CORPORATION
- Grunwl
- Ingersoll Rand
- All Pump Solutions
- Armstrong Fluid Technology
- Circor International, Inc.
- Ketek Group
- Rockwell Automation, Inc.
- ALFA LAVAL
- Bosch Rexroth AG
- Liberty Pumps
Competitive Landscape
The competitive landscape of the global intelligent pump market report provides key insights into the growth strategies and development initiatives implemented by the key intelligent pump manufacturing companies in the market.
Key players competing in the global intelligent pumps market share are Xylem; KSB SE & Co. KGaA; ITT INC.; Flowserve Corporation; Emerson Electric Co.; Goulds Pumps; ABB; Grundfos Holding; Sulzer Ltd; WILO SE; Regal Rexnord Corporation; Wanner International Limited; KIRLOSKAR BROTHERS LIMITED; YASKAWA ELECTRIC CORPORATION; Grunwl; Ingersoll Rand; All Pump Solutions; Armstrong Fluid Technology; Circor International, Inc.; Ketek Group; Rockwell Automation, Inc.; ALFA LAVAL; Bosch Rexroth AG; and Liberty Pumps.
Some of these major companies adopted various business development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production capacity expansion to expand their consumer base and enhance their market share.
- On 17 August 2022, Wilo group, a leading manufacturer of smart pumps and pump systems in the smart pump market, acquired FSM Frankenberger GmbH & Co. KG based in Pohlheim and WSM Walower Stahl- und Maschinenbau GmbH based in Walow. Both companies provide specialized solutions for mechanical cleaning and wastewater treatment. The acquisition is expected to help Wilo expanding water management product portfolio.
- On 21 November 2022, Kirloskar Brothers Limited launched AQUA KNIGHT, an efficient product in KBL’s advanced pump series. The pump provides higher energy efficiency and energy saving. The product is available for buying in a single phase with 0.5 HP and 1.0 HP power ratings, providing various advanced features.
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