Pumps are employed for numerous processes across different end users and play an integral part in a number of functionalities. Globalization has led to more opportunities for expanding the supply chain and has also reduced the manufacturing costs. Monitoring controls and digitization now provide more efficiency and energy-saving through intelligent pumping solutions, with the advent of variable frequency speed drives.
Not only energy efficiency but also system efficiency is looked upon as an important criterion when selecting between standard systems and intelligent pump systems. Intelligent pumps have the potential to not only decrease the operating costs but also reduce the plant downtime.
Centrifugal and positive displacement pumps are some of the smart & intelligent pumps widely used across various end-user applications. The global smart & intelligent pumps market in terms of application is segmented into oil & gas industry, water & wastewater industry, power industry, chemical industry, and general industry. Pumps in the oil & gas industry are used for chemical transfers, injection tasks, and stream stripping, among others. The need for intelligent pumping systems in the oil & gas industry arises due to strict regulations regarding environmental regulations for energy consumption and pollution. The oil & gas industry is the largest consumer of intelligent pumping systems.
The global smart & intelligent pumps market is expected to grow at a CAGR of 6.68% 2018 and 2023 in terms of value.
The report is a compilation of the different segments of the global smart & intelligent pumps market, including market breakdown by pump type, application, and geographical areas. Herein the revenue generated from the pump type (centrifugal pump and positive displacement pump), application (oil & gas industry, water & wastewater industry, power industry, chemical industry, and general industry),and geographies (North America, Europe, Asia-Pacific, Middle East and Africa, and South America) are tracked to calculate the overall market size in terms of value ($million). While highlighting the key driving and restraining forces for this market, the report also provides a detailed summary of the global smart & intelligent pumps market. The report also includes sections on the key participants involved in the industry.
Key questions answered in the report:
- What was the size in terms of value ($million) of the smart & intelligent pumps market in 2017, and what will be the growth rate during the forecast period 2018-2023?
- What will be the market size of different types of pumps (by value) and their growth rate during the forecast period 2018-2023?
- What will be the market size of different applications of smart & intelligent pumps market (by value) and their growth rate during the forecast period 2018-2023?
- What will be the market size for different regions and countries in terms of value in the smart & intelligent pumps market and their growth rate in the forecast period 2018-2023?
- What are the major driving forces that tend to increase the demand for smart & intelligent pumps in various end-user industries during the forecast period?
- What are the major challenges inhibiting the growth of the global smart & intelligent pumps market?
- What are the competitive strengths of key players in the global smart & intelligent pumps based on the market share analysis?
- Who are the key players (along with their detailed analysis and profiles including their financials, company snapshots, key products & services, and SWOT analysis) in the market?
The report further includes a thorough analysis of the impact of the Porter’s Five Forces to understand the overall attractiveness of the industry. The most commonly-used strategy for developing a better hold on the market has been partnerships, collaborations, and joint ventures. Moreover, the company profile section highlights significant information about the key companies involved along with their financial positions, key strategies, and developmental activities of recent years.
Further, the report includes an exhaustive analysis of the geographical split into North America, Europe, Asia-Pacific (APAC), Middle East & Africa, and South America. Each geography details the individual restraining and driving forces in addition to the key players from that region. This report is a meticulous compilation of research on more than 100 players in the global smart & intelligent pumps market and draws upon insights from in-depth interviews with the key opinion leaders of more than 50 leading companies, market participants, and vendors. The report also profiles approximately 16 companies with their financial analysis, SWOT, and product portfolio.
The company profiles in the report include KSB Group, Colfax Corporation, Pentair plc, Spirax-Sparco Engineering plc, Grundfos Holding A/S, Kirloskar Group, Yaskawa Electric Corporation, SEEPEX GmbH, GRUNWL, Sulzer Ltd., Xylem, Inc., ITT, Inc., Flowserve Corporation, Wilo SE, and Regal Beloit Corporation.