NEW YORK, Jan. 5, 2017 /PRNewswire/ -- "The intelligent pump market is projected to grow at a CAGR of 7.5% from 2016 to 2021" 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 centrifugal segment is expected to grow at the highest CAGR from 2016 to 2021"
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.
"Europe: The largest market for intelligent pump"
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.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1—30%, Tier 2—35%, Tier 3—35%
By Designation: C-Level—10%, Manager-Level—30%, Others—60%
By Region: Asia-Pacific—45%, Middle East—23%, Europe—20%, North America—18%, and Africa—9%
Note: The tier of the companies has been defined on the basis of their total revenue, as of 2015: Tier 1 = > USD 10 billion, Tier 2 = From USD 1 billion to USD 10 billion, and Tier 3 = < USD 1 billion
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.).
The report defines, describes, and forecasts the global intelligent pump market by pump type, component type, end-user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, challenges, winning imperatives, and key issues. It also covers various important aspects of the market.
Why buy this report?
1. The report identifies and addresses key markets for intelligent pumps, which would help suppliers review the growth in the demand for the product.
2. The report helps solution providers understand the pulse of the market, and provides insights into drivers, restraints, and challenges.
3. The report will help key players understand the strategies of their competitors better, and will help in making strategic decisions.
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