With a massive pool of small, medium, and large participants, global intelligent pumps market demonstrates a highly fragmented business landscape. The market comprises of both, international and local players in large numbers, which intensify the competition within it. To sustain this competition, leading players are resorting to strategic alliances with smaller players. Goulds Pumps, Grundfos Holding A/S, QuantumFlo Inc., Alfa Laval, and Kirloskar Brothers Ltd. are some of the key participants in the global intelligent pumps market. These players are investing heavily on the development of advanced intelligent pumps to meet the demands of consumers. They are also focusing on developing distribution channels to improve their reach.
According to a report by Transparency Market Research (TMR), the global intelligent pumps market is expected to report a CAGR of 6.40% during the period from 2017 and 2025. Progressing at this pace, this market is likely to reach US$748.5 mn by 2025 from a value of US$424.4 mn in 2016.
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Europe to Retain Leadership
The research report also offers a qualitative analysis of each of the regional markets for intelligent pumps. North America, Latin America, the Middle East and Africa, Europe, and Asia Pacific have surfaced as the key regional segments of the global intelligent pumps market. Europe, among these, has acquired the leading position. In 2016, it held a share of approximately 35% in the overall market. With the rising demand for clean drinking water, the need for intelligent pumps is increasing considerably in Europe. Researchers predict, this factor is likely to support the Europe intelligent pumps market in maintaining its dominance over the forecast period.
On the other hand, Asia Pacific is anticipated to report a relatively faster CAGR of 7.30% during the period from 2017 to 2025. China has emerged as the most prominent contributor in the Asia Pacific intelligent pumps market, thanks to its increased export of low-priced pumps to the Middle East and Africa. India is also a key domestic market for intelligent pumps in Asia Pacific. The increasing investments of the Indian government in industrialization and urbanization are propel the intelligent pumps market in this region, states the research report.
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Operational Efficiency of Intelligent Pumps to Boost Demand
“The main factor that has been fueling the demand for intelligent pumps is their operational efficiency,” says a TMR analyst. By automating functions and the control of the pressure of the flow or water or other fluids, these pumps reduce the need for manual operations. They also provide real-time functional data of the pumping device, which assist in identifying faults and repair it in time to prevent equipment failure. The market is also gaining considerably from constant efforts by manufacturers to produce advanced products, in a bid to attain a competitive edge over other players.
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On the other hand, the implementation of stringent energy-efficiency standards, especially in developed countries, may hamper the growth of the global intelligent pumps market. However, the preference for smart water and wastewater systems, rise in power generation capacities, and substantial investments in the non-oil and gas industries in the North Africa and Middle East region will balance the impacts of restraints in the years to come, notes the study.
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