London, Dec. 13, 2022 (GLOBE NEWSWIRE) -- Increasing need for greater operational efficiency, effective automation, and improved energy savings has been demand for intelligent pumping solutions and systems. A broad application base in areas like water treatment, temperature control, boilers and systems, machining, industrial water supply, wash and clean, and desalination is expected to drive the revenue growth of intelligent pumps market. Up from the global valuation of US$643.9 Mn attained in the year 2021, intelligent pumps market is all set for a promising outlook over the projection period, 2022 – 2029. Toward the end of forecast year, global intelligent pumps market will reach past the billion-dollar mark, says a newly released report of Fairfield Market Research.
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Key Research Insights
- Between 2022 and 2029, the intelligent pumps market valuation is poised for 6% rise
- Centrifugal pumps remain bestseller with an approximate share of 71%
- Industrial sector accounts for more than 60% of overall demand generation
- Europe continues to account for over 35% market share
Insights into Segmental Analysis
The global intelligent pumps market report is a compilation of the various market segments, i.e., pump type, component, and application. Based on pump type, centrifugal pumps continue to spearhead with the maximum installed base and nearly 71% revenue share in the market. The report projects more than 6% growth in demand for centrifugal pumps in intelligent pumps market space through 2029 end. In addition to greater energy efficiency, and higher capacity, these pumps are likely to remain on an uptrend because of the ease of operation, and smooth flow. On the other hand, the report foresees notable demand surge for positive displacement pumps. In terms of component, shooting demand for automation in variable speed drives will drive dominance of variable speed drives in intelligent pumps market. The segment registered more than 40% share in market in 2021. Furthermore, application-wise analysis of the market reveals that industrial sector is at the forefront of demand generation with over 60% market share. Oil and gas industry remains the leading area as it generates noteworthy demand in line with growing penetration of smart pumping solutions. Water and wastewater, chemical, food and beverages, and power industries follow in terms of adoption of intelligent pumping solutions.
Key Report Highlights
- Key manufacturers of intelligent pumps possess technological patents related to H- and F-class pumping solutions. High capital investments tend to primarily restrict tech investments from smaller players
- Power, oil and gas, and construction remain the key end-use industry segments for intelligent pump manufacturers
Insights into Regional Analysis
The industrial sector across Europe has been an early adopter of intelligent pumping solutions. While this has been the strongest factor setting stage for the growth of intelligent pumps market in Europe, the region has also been witnessing rising adoption by the water utility-based industry sectors. This is also expected to uphold market growth in the region, suggests the report. In 2021, Europe’s intelligent pumps market accounted for around 35.2% revenue share in global landscape and the trend will prevail throughout the period of forecast. The fact that Europe houses some of the industry leaders and records the maximum production as well as consumption of intelligent pumping technology will account for the region’s top-ranking position through the end of 2029. Governments’ support eyeing energy efficiency will also remain crucial to the market build-up here. The market for intelligent pumps in North America also captures a sizeable revenue share on the back of consistently soaring uptake by the water and wastewater treatment sectors.
The report further indicates a higher growth opportunity arising in Asia Pacific that reflects an attractive pocket for manufacturers, and suppliers. The region is likely to exhibit growth at the fastest rate between 2022 and 2029, which has been clearly attributed in the report to rapid power plant upgradation projects, and rampant industrialization. China dominates banking on solid investments, and a spike in pump installation rates. Investments in pumping solutions continue to shoot up, which will favour the growth of intelligent pumps market in China. Moreover, the report marks growing popularity of low-cost Chinese, and Indian pumping sets across emerging markets of the Middle East, and Africa.
Leaders in Global Intelligent Pumps Market Space
While Grundfos Holdings A/S continues to lead with the lion’s share in both installation, and sales of intelligent pump, the report has covered some other prominent players as well, for detailed strategic profiling, and analysis. Danfoss A/S, Goulds Pumps, Alfa Laval, QuantumFlo, Inc., Wilo SE, Allweiler GmbH, Kirloskar Brothers Limited, Armstrong Fluid Technology, and Xylem Inc. are the profiled companies in report.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2021 | |
| Forecast Year | 2022 – 2029 | |
| Market Size in 2021 | US$643.9 Mn | |
| Estimated Market Size in 2029 | US$1,033.6 Mn | |
| CAGR | 6% | |
| Key Players | 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 | |
Market Segmentation
Type Coverage
- Centrifugal Pump
- Positive Displacement Pump
Component Coverage
- Pump Motor
- Variable Speed Drive
- Control Systems
- Others
Application Coverage
- Building
- Industrial
- Water Utility
- Others
Geographical Coverage
- North America
- Europe
- Latin America
- Middle East & Africa
- Asia Pacific
Leading Companies
- Grundfos Holding A/S
- Goulds Pumps
- Danfoss A/S
- Alfa Laval
- Wilo SE
- QuantumFlo, Inc.
- Allweiler GmbH
- Xylem Inc.
- Kirloskar Brothers Limited
- Armstrong Fluid Technology
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Type-wise Analysis
- Component-wise Analysis
- Application-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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