The latest report on Intelligent Pumps Market by Infinium Global Research gives complete coverage of the Intelligent Pumps Market by pump type (centrifugal displacement and positive displacement), component (pump motor, variable speed drive and control systems), end user (building automation, water & wastewater, oil & gas, chemicals and power generation) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of Intelligent Pumps such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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Intelligent Pumps with are Expected to Have a Positive Impact on the Growth of Intelligent Pumps
An intelligent pump has the ability to regulate and control flow or pressure. The key benefits of intelligent pumps are energy savings and system cost reductions. Intelligent pumps have the potential to improve process control, enable better management of its health, and assist all power generation plants in reducing total energy consumption. In intelligent pumping systems, energy accounts for more than one-third of total lifecycle costs. Because of the energy-intensive nature of pump systems, the energy saving advantages of intelligent pumps will be a significant contributor to growth.
Improving pump station efficiency and remote monitoring are the major factors that are driving the intelligent pumps market. Intelligent pumps facilitate energy efficient processes. Hence, the demand for minimization of manual operations and automated regulations to regulate and control the flow of fluid, which in turn, drives the growth of the intelligent pumps market.
In addition, the intelligent pump’s system offers the ability to access real-time operating data on the pumping equipment this, in turn, is boosting the growth of the intelligent pumps market. On the other hand, tax credits and government economic incentive packages targeting infrastructure projects, including water & wastewater and energy efficiency projects and replacement of old- aged pumps with intelligent pumps with are expected to have a positive impact on the growth of intelligent pumps.
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Expansion of Smart Cities Gives Rise to Enormous Opportunities for Intelligent Pumps Applications
On the other hand, need to develop necessary instrumentation and electronics background to sell and support intelligent pumps for the distributors is one of the most significant challenges for intelligent pumps market. Furthermore, the most beneficial use of intelligent pumps is in the wastewater and water industry in which the expansion of smart cities gives rise to enormous opportunities for intelligent pumps applications.
Among the geographies, Europe dominated the intelligent pumps market. The growth in the European region is due to a strong demand for clean drinking water that requires intelligent pumps. Moreover, government investments in industrialization and urbanization are anticipated to boost the intelligent pumps market in the Asia-Pacific regions. On the other hand, China is one of the major exporters of cheap pumps to the Middle East and Africa, as they do not have domestic bases for pumps.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Intelligent Pumps.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.