Learn details of the Intelligent Pump Market
Global Intelligent Pump Market: Overview
A wide range of benefits is offered by the intelligent pumps, which includes better maintenance plans and predictions, access to the real-time operating data, and wireless monitoring and control. In the past the intelligent pumps were installed, chiefly for water and wastewater monitoring, thus gaining much popularity.
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Global Intelligent Pump Market: Segmentation
The intelligent pump market is globally segmented into its type, component, end user, and regions. On the basis of pump type, the global market is segregated into positive displacement and centrifugal. Based on the component, the market is categorized into control systems, pumps, and variable drives. Depending on the end user, the market is divided into water & wastewater, chemicals, building automation, oil & gas, power generation, and others. Regionally, the global market is diversified into South America, Asia-Pacific, Europe, North America, and the Middle East and Africa.
Global Intelligent Pump Market: Growth Factors
The increasing need for correct monitoring and control of the pumps resulted in the introduction of the intelligent pumps in a wide range of end-use industries. These pumps are used for enabling the remote condition monitoring, remote systems control, and energy management thus the demand for intelligent pumps has been rising significantly. The centrifugal type of intelligent pump exhibits a good market share in the intelligent pumps market. This is due to the fact that the centrifugal pumps are more effective and can control variable pressure conditions and high viscosity. The control system is the major type in the components segment in intelligent pumps due to its ability in enabling efficient use of energy in several applications. The most beneficial end use of the intelligent pumps is in the wastewater and water industry, in which the expansion of the smart cities gives enormous opportunities for application. Stringent regulatory norms regarding energy efficiency also initiate the adoption of intelligent pumps in the wastewater and water segment.
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Global Intelligent Pump Market: Regional Analysis
The region that dominates the worldwide intelligent pumps market is Europe. It holds a significant share and anticipates holding this prominent place in the coming years too. The factor that contributes to this growth is the increase in the manufacturing and development activities in emerging countries such as Germany, France, and Italy. The demand for smart water systems and building automation is increasing in Europe thus creating a huge demand for intelligent pumps market. Asia Pacific is also a promising market for the intelligent pumps. It presents a host of beneficial opportunities for the market players owing to the booming construction industry. The development of the smart cities in India along with the increasing capacities of power generation, the market in Asia Pacific will grow significantly. In the Middle East and African region, the immense potential in subsea applications, the rising need for energy security, need for enhanced energy efficiency measures, and rapid advancements in technology increase the demand for the intelligent pumps.
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Global Intelligent Pump Market: Competitive Players
Some of the key market players that are involved in the intelligent pump market include ITT Corporation, Grundfos Holding A/S, Xylem, Inc., Sulzer Ltd., and Flowserve Corporation.
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