Intelligent pumps provide operational efficiency by automating regulation and control of the flow or pressure of water or other fluids. They also offer real-time operating data on the pumping equipment. As a result, they eliminate the need for maintenance staff to repair and monitor the equipment. Such advantages have steadily driven the sales of intelligent pumps despite the high cost of installing them. Besides, constant thrust on product development by key players in order to steal a march over their competitors is also boosting the market.
Currently, the global intelligent pump market is fragmented in nature due to the presence of a large number of regional and international players of various sizes. The players are seen banking upon strategic collaborations and also building proper distribution channels to drive sales and bolster their positions.
A study by Transparency Market Research forecasts the global intelligent pumps market to attain a value of US$748.5 mn by 2025 from US$424.4 mn in 2016 by clocking a CAGR of 6.4% from 2017 to 2025.
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Cheap Intelligent Pumps Manufactured in China Propels Asia Pacific Market
From a geographical standpoint, Europe is the dominant region in the global intelligent pumps market. In 2016, its dominant share came to about 35.0%. By rising at a CAGR of 5.8% in the forecast period, the region is expected to grow its leading share owing to the strong demand for clean drinking water which in turn require intelligent pumps. The TMR report predicts the region to pull in a revenue to the tune of US$253.5 by 2025-end.
In terms of growth rate, Asia Pacific is expected to surpass all other regions by clocking a CAGR of 7.3% between 2017 and 2025. China is said to be primarily powering growth in the region. This is because the country is one of the major exporters of cheap pumps to the Middle East and Africa, which does not have domestic manufacturing bases for pumps. Apart from China, India is another key market in the region. Government investments in industrialization and urbanization is expected to boost the intelligent pumps market in the region. Besides, thrust on overhauling antiquated agricultural methods is also serving to catalyze growth in the market in India.
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Some of the key participants in the global intelligent pumps market are Grundfos Holding A/S, Goulds Pumps, QuantumFlo, Inc., Kirloskar Brothers Limited, and Alfa Laval.