Intelligent Pumps Market Poised to Reach Approximately US$1,033.6 Million by 2029 with a 6.1% CAGR
The global market for intelligent pumps is experiencing substantial growth, with projections indicating that it will reach an estimated revenue of around US$1,033.6 million by the end of 2029. This forecast, accompanied by valuable insights, enables a comprehensive analysis of market growth during the forecast period.
Industrial Automation Drives Transformation in Pump Technology:
Intelligent pumps are revolutionizing traditional manufacturing processes, stepping into the realm of process control with the integration of digital technology. These intelligent pumps have the potential to enhance process control, enable better health management, and help reduce overall energy consumption in plants. However, despite their potential to be game-changers in process control, the adoption of intelligent pumps in process industries faces challenges due to resistance from manufacturers and owner-operators. Overcoming this resistance remains a key factor influencing the performance of the global intelligent pumps market.
The Role of Intelligent Pumps:
Intelligent pumps are specially integrated and automated devices capable of regulating flow or pressure, offering advantages such as energy efficiency, extended lifespan, and reduced system costs. Their ability to automatically adjust operations to meet system head requirements for optimal efficiency is a primary driver of the global intelligent pumps market. These pumps find extensive applications in various sectors, including boilers, temperature control, water treatment, industrial water supply, wash and clean processes, machining, and desalination.
Operational Efficiency and Energy Savings Fuel Adoption:
The high initial investment cost has historically limited new players from entering the intelligent pumps market. However, stringent government regulations on greenhouse gas emissions and overall carbon emissions have encouraged new entrants. High demand in industrial operations and the need for improved operational efficiency, energy savings, and effective automation are key factors driving the growth of the intelligent pumps market.
Segmentation and Application Insights:
- Technology: The global intelligent pumps market is segmented into thermal and biological technologies. In 2021, thermal technology, including incineration, pyrolysis, and gasification, accounted for over 75% of the market. Incineration, in particular, is widely adopted for its efficiency in reducing waste volume and weight.
- Application: The market is divided into building, industrial, water utilities, and other applications. In 2021, the industrial segment represented over 60% of the market. Traditional pumps in industrial settings are being replaced by intelligent pumping solutions, driven by the need for operational efficiency optimization.
Regional Leadership and Growth Prospects:
- Europe: Led the global intelligent pumps market with a 35.2% share in 2021. The European market benefits from strong adoption of intelligent pumping solutions in industrial and water utility sectors, supported by stringent energy efficiency regulations.
- Asia Pacific: Expected to witness the highest growth between 2022 and 2029 due to increased industrialization and power plant upgrades. China, with more than 55% of the market share in 2021, is a major player in the region.
- North America: Also holds a significant market share, driven by demand from the water and wastewater treatment sectors.
Key Market Players:
Leading companies in the intelligent pumps market include Grundfos Holding A/S, Goulds Pumps, Danfoss A/S, Alfa Laval, Wilo SE, QuantumFlo, Inc., Allweiler GmbH, Xylem Inc., Kirloskar Brothers Limited, and Armstrong Fluid Technology. Grundfos Holdings AS, in particular, stands out as a global leader in sales and installations of intelligent pumps.
Browse Global Intelligent Pumps Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2029 – (By Type Coverage, By Component Coverage, By Application Coverage, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/intelligent-pumps-market
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This press release first seen on Brilad