The Global Intelligent Pump Market is projected to grow at a CAGR of 7.5% from 2016 to 2021, to reach a market size of USD 880.0 Million by 2021. This growth is attributed to the strict energy-efficiency standards in developed countries and growth in Industrial Internet of Things (IIoT). The report segments the intelligent pump market by pump type into positive displacement and centrifugal. The centrifugal segment is projected to dominate the intelligent pump market.
Browse 65 market data tables and 53 figures spread through 154 pages and in-depth TOC on “Intelligent Pump Market by Pump Type (Centrifugal & Positive Displacement), Component (Pumps, Variable Drives, & Control Systems), End-User (Building Automation, Water & Wastewater, Oil & Gas, Chemicals, & Power Generation) - Global Forecast to 2021”
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The building automation segment led the Intelligent Pump Market in 2015, and is projected to dominate the market during the forecast period. This segment is primarily driven by growing market for smart cities, strict energy-efficiency standards in developed countries, and government initiatives on energy conservation, and is expected to create new revenue pockets for the intelligent pump market during the forecast period.
With regard to the type segment, centrifugal pumps with intelligent systems are expected to constitute the fastest growing market from 2016 to 2021. These pumps are used in building automation for HVAC systems and water systems. In the water & wastewater treatment sector, it is used for processing drinking water, reverse osmosis process, and machine tool lubrication.
To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the top players in the intelligent pump market. These players include Xylem, Inc. (U.S.), ITT Corporation (U.S.), Grundfos Holding A/S (Denmark), Sulzer Ltd. (Switzerland), and Flowserve Corporation (U.S.). Leading players are trying to penetrate the markets in developing economies, and are adopting various strategies to increase their market share.
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The Intelligent Pump Market has been analyzed with respect to five regions, namely, North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Europe is expected to dominate the global intelligent pump market, given an increase in the number of manufacturing and development activities in countries such as Germany, France, and Italy.
High capital cost of intelligent pump systems could be a restraint of the intelligent pump market, leading to declining profits. In addition, intelligent pumps offer better pumping solution for the mining industry as it is more efficient and require less human intervention; its slowdown has hindered the growth of the intelligent pump market.