Intelligent Pump and Control Systems Market by End-user, Type, Component, and Geography - Forecast and Analysis 2020-2024
- Published: Oct 2020
- Pages: 120
- SKU: IRTNTR45425
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The intelligent pump and control systems market size has the potential to grow by USD 236.21 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by end-user (water and wastewater industry, oil and gas industry, chemical and petrochemical industry, and power industry), type (centrifugal pumps and positive displacement pumps), component (intelligent pumps and control systems), and geography (Europe, APAC, North America, MEA, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including ABB Ltd., BorgWarner Inc., Emerson Electric Co., Flowserve Corp., Grundfos Holding AS, KSB SE & Co. KGaA, Robert Bosch GmbH, Rockwell Automation Inc., Sulzer Ltd., and Yaskawa Electric Corp.
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Market Competitive Analysis
The market is fragmented owing to the presence of both global and regional vendors. Numerous small, medium, and well-known international players are offering their complete range of intelligent pumps and control systems to end-users. To cater to the precise demands of customers, vendors are penetrating the market by manufacturing different advanced versions of pumps and control systems and making them available to the end-users through an extensive chain of distributors. ABB Ltd., BorgWarner Inc., and Emerson Electric Co. are some of the major market participants. Although the efficiency in terms of motor functionality will offer immense growth opportunities, volatility in raw material prices will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this intelligent pump and control systems market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this intelligent pump and control systems market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- ABB Ltd.
- BorgWarner Inc.
- Emerson Electric Co.
- Flowserve Corp.
- Grundfos Holding AS
- KSB SE & Co. KGaA
- Robert Bosch GmbH
- Rockwell Automation Inc.
- Sulzer Ltd.
- Yaskawa Electric Corp.
Intelligent Pump and Control Systems Market: Segmentation by Geography
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APAC was the largest intelligent pump and control systems market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the increasing demand from chemical and petrochemical as well as water and wastewater industries and the rapid industrialization will significantly drive intelligent pump and control systems market growth in this region over the forecast period.
39% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for intelligent pump and control systems in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Intelligent Pump and Control Systems Market: Segmentation by End-user
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Water and wastewater management is one of the most vital activities carried out across the globe. Water contamination is also increasing with an increase in pollution. Due to this, the need for clean water throughout the globe is increasing. In the water and wastewater industry, pumps hold the highest importance as most of the work is related to displacing water from one point to another - a process that is mostly accomplished through pumps. Control systems used in intelligent pumps offer a distinct feature of keeping track of the performance level while carrying out water treatment applications.
Market growth in this segment will be faster than the growth of the market in the chemical and petrochemical industry and power industry segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the intelligent pump and control systems market size.
Intelligent Pump and Control Systems Market: Key Drivers and Trends
Efficiency in terms of motor functionality is one of the key factors driving the growth of the intelligent pump and control systems market growth. Intelligent pumps use precise energy to deliver maximum performance. These pumps incorporate components such as motors, gears, and drives installed within the equipment to function effectively in any facility. Moreover, the integration of these components in pumps induces a substantial amount of energy in operations. However, with intelligent pumps, end-users get the benefit of energy savings as intelligent pumps help in energy management. Intelligent pumps have variable speed motors that help pumps take in more revolutions per minute. Owing to this feature, not only does energy management become easy but the processes are also completed faster. Motors integrated within intelligent pumps and driven by control systems that maintain a constant power input run efficiently with minimum energy use. Subsequently, there is a substantial reduction in energy loss in motors integrated with intelligent pumps when compared with motors installed in traditional pumps. Therefore, intelligent pumps can be used in any facility in accordance with the need of the end-users.
Market research analysts at Technavio predict that the global intelligent pump and control systems market will grow at a CAGR of almost 6% by 2024. The cost and energy savings of intelligent pump and control systems is identified as one of the primary growth factors for this market. Intelligent pumps have the feature to enhance the control of flow or pressure. These pumps have the ability to regulate the flow in accordance with the requirements of different processes leading to the consumption of lesser energy and time. This enables companies to cut costs in energy use within facilities. The energy-saving feature also helps in saving the overall costs and helps in delivering better performance. Since these pumps are controlled through software, the chances of damages are reduced due to overload or from the variability in parameters such as temperature and pressure.
Intelligent Pump and Control Systems Market: Key Highlights of the Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive intelligent pump and control systems market growth during the next five years
- Precise estimation of the intelligent pump and control systems market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the intelligent pump and control systems industry across Europe, APAC, North America, MEA, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of intelligent pump and control systems market vendors
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Russian Federation
- Efficiency in terms of motor functionality
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