The smart pump market is expected to grow by 7.5% during

New York, United States, June 28, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “smart pumps market Analysis by type (centrifugal, positive displacement), component (control system, variable drives, pumps), end user (building automation, waste and wastewater, electrical) and region and forecast to 2030″ assessment is about to reach USD 1.27 billion by 2027, registering a CAGR of 5.2% throughout the forecast period (2022-2030).

Smart Pumps Market Overview

The smart pump market is estimated to grow steadily over the next few years. Over the past two years, high energy prices have forced utility operators to be more creative in controlling costs. Normally, the pumping system costs more than a third of the overall power generation expenses. Due to their energy-intensive nature, smart pumps provide significant savings in the energy generation process.

Scope of Smart Pumps Market Report:

Report metric Details
Market size $1.27 billion (2027)
CAGR 7.5%
Year of reference 2021
Forecast period 2022-2030
Historical data 2020
Forecast units Value (USD billion)
Report cover Revenue forecasts, competitive landscape, growth factors and trends
Segments Covered Type, component and region
Geographical areas covered North America, Europe, Asia-Pacific and Rest of the World (RoW)
Main suppliers Emerson (USA), Xylem (USA), ABB (Switzerland), Sulzer (Switzerland), Grundfos Holding (Denmark), Quantumflo (USA), Yaskawa (Japan), Kirloskar (India), Wilo SE ( Germany), KSB Aktiengesellschaft (Germany), Flowserve Corporation (USA) and ITT Corporation (USA)
Key market opportunities Development in Digital Oil Fields
Key Market Drivers Growing pressure to control operational expenses

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The energy saving advantage of smart pumps is contributing significantly to the overall market growth. Additionally, tax credits and government economic stimulus packages targeting infrastructure projects, such as water and wastewater and energy efficiency projects, are driving the growth of the smart pump market. The macro-fundamentals of the smart pump industry have been greatly strengthened.

With integrated asset management functionality becoming increasingly desirable as a less expensive alternative to manual data collection and inspection, the market is expected to grow exponentially over the forecast period.

Favorable government policies to boost energy production translate into exceptional multi-year capital expenditure growth globally. Additionally, encouraging trends in pandemic containment efforts are expected to significantly boost investment in the coming period. Industry players are striving to gain advantageous market positions to capture this technology-driven integration capability and international strength.

Smart Pumps Market Segments

The smart pumps market is segmented into types, end-users, and regions. Type segment is sub-segmented into centrifugal, positive displacement and other pumps. The end-user segment is sub-segmented into power generation, building automation, oil and gas industry, water and wastewater management, chemical and gas industry, etc. By region, the analysis is segmented into Asia Pacific, Americas, Europe and Rest of the World.

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Smart Pumps Market Regional Analysis

Europe dominates the global smart pump market, witnessing an increase in investment in oil and gas infrastructure development. Also, increase in building automation projects and vast developments of smart building systems are increasing the market size. The increased demand from the construction and water and wastewater sectors influences the market revenues of the regional market. Also, the soaring growth in oil and gas and power generation industries is creating great market opportunities.

North America is another rapidly growing market for smart pumps globally. Rising per capita energy consumption and oil and gas E&P activities justify the region’s market shares. Additionally, the surge in oil and natural gas production in North America continues to grow, which, along with rapid R&D investments to drive smart pump technology developments and upgrades, is driving the market growth.

APAC is emerging as a promising market for smart pumps. Developments in industries and building automation are key growth drivers. Moreover, the growing concern in water treatment is creating a large demand in the market. The APAC smart pumps market has many growth opportunities and will achieve the highest production rate of smart pumps during the forecast period.

Industry trends

The building automation industry is increasingly adopting smart pump technology. Additionally, rapid changes in load requirements and the integration of sensors to monitor and maintain controlled variable and constant pump output are increasing market demand. Due to the increase in well construction and sustained oil and gas exploration activities worldwide, the smart pump market is poised to outperform.

With digital technology, smart pumps have moved from their traditional role as mechanical workhorses of manufacturing to the realm of controlled processes. Smart pumps can enable better management and improve process control, and help factories reduce total energy consumption.

Smart pumps are increasingly being adopted in the pharmaceutical industry to optimize water consumption and reduce water waste. In the wake of climate change and the water crisis, pharmaceutical companies around the world are turning to smart pumps to optimize water use. Water management is becoming a primary concern in the pharmaceutical industry as it develops rapidly.

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Water is an essential element in the research and production of pharmaceutical products. In addition, wastewater generated by industry is discharged without pre-treatment. Therefore, the pharmaceutical sector has focused on the careful use of the right quality of water for its manufacturing processes. These factors are encouraging the adoption of smart pumps and water technologies and processes to ensure sustainable manufacturing in this sector.

Manufacturing plants have to work on tough jobs and prioritize total water needs and consumption. They need to focus on perfecting their processes for using, recycling and replenishing water. This makes smart pumps using smart and efficient technology indispensable for solving water problems in manufacturing plants. Smart pumping systems can meet the challenges of high efficiency with minimal maintenance.

Smart Pumps Market Competitive Analysis

The Dominant Key Players in the Smart Pumps Market Covered Are:

  • Emerson (USA)
  • Xylem (USA)
  • ABB (Switzerland)
  • Sulzer (Switzerland)
  • Grundfos Holding (Denmark)
  • Quantumflo (USA)
  • Yaskawa (Japan)
  • Kirloskar (India)
  • Wilo SE (Germany)
  • KSB Aktiengesellschaft (Germany)
  • Flowserve Corporation (USA)
  • ITT Corporation (USA)

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Highly competitive, the smart pump market appears fragmented due to the presence of several well-established players. Industry players are investing heavily in research and development activities and promoting their expansion plans. These market players are adopting approaches such as greater marketing of their products, promotional initiatives through competitions and trade exhibitions, and increased collaboration.

This market is witnessing the implementation of several strategic deals, such as collaboration, mergers and acquisitions, product launches, and expansion. For example, on October 10, 2021, Grundfos (Denmark), a leading manufacturer of water pumps, announced the signing of a Memorandum of Understanding with Tata Projects (India) to cooperate and jointly explore water pump projects. environment, sustainability and water.

This MoU aligns with the ongoing green strategic partnership between Denmark and India. The joint effort will contribute to technology, market identification and joint business development through cooperation and joint ventures. This mutually beneficial arrangement allows Denmark to provide durable solutions to India to help both countries.

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