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The intelligent pump market is projected to reach USD 880.0 million by 2021, at a CAGR of 7.5% from 2016 to 2021. Intelligent pump systems are used in building automation, water & wastewater, oil & gas, chemicals, and power generation. Investments in sectors other than oil & gas in the Middle East and North Africa (MENA) and the growth of the manufacturing sector in South Asian countries, coupled with strict energy-efficiency standards in North America and Europe, are expected to drive the intelligent pump market. The downturn in the mining industry will likely to hinder the market growth, as mining industry is a potential end-user market for intelligent pumps.
The building automation segment led the intelligent pump market in 2015, and is projected to dominate the market during the forecast period. This segment is primarily driven by growing market for smart cities, strict energy-efficiency standards in developed countries, and government initiatives on energy conservation, and is expected to create new revenue pockets for the intelligent pump market during the forecast period.
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With regard to the pump type segment, centrifugal pumps with intelligent systems are expected to constitute the fastest growing market from 2016 to 2021. This is because centrifugal pumps require much use of control systems in high-viscosity and variable pressure conditions. These pumps are used in building automation for HVAC systems and water systems. In the water & wastewater treatment sector, it is used for processing drinking water, reverse osmosis process, and machine tool lubrication.
Some of the prominent players in the intelligent pump market include Xylem Inc. (U.S.), ITT Corporation (U.S.), Grundfos Holding A/S (Denmark), Sulzer Ltd. (Switzerland), Flowserve Corporation (U.S.), Wilo SE (Germany), KSB AG (Germany), Yaskawa Electric Corporation (Japan), Colfax Corporation (U.S.), Kirloskar Brothers Limited (India), GRUNWL (China), Seepex GmbH (Germany), and Regal Beloit Corporation (U.S.).
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Europe is currently the largest market for intelligent pumps, followed by North America. The European market is primarily driven by countries such as Germany, France, Italy, and U.K., where there are high demands for intelligent pumps. The market in this region is projected to grow at a high rate, with Germany expected to dominate the market. Government initiatives for energy conservation and strict energy-efficiency standards will likely to boost the demand for intelligent pumps.
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