PUNE, India, December 12, 2016 /PRNewswire/ --
The report "Intelligent Pump Market by Pump Type (Centrifugal & Positive Displacement), Component (Pumps, Variable Drives, & Control Systems), End-User (Building Automation, Water & Wastewater, Oil & Gas, Chemicals, & Power Generation) - Global Forecast to 2021" published by MarketsandMarkets, the market is expected to grow from an estimated USD 613.7 Million in 2016 to USD 880.0 Million by 2021, registering a CAGR of 7.5% from 2016 to 2021.
Browse 66 market data Tables and 49 Figures spread through 222 Pages and in-depth TOC on "Intelligent Pump Market"
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The global market is set to witness significant growth, due to the focus on the water & wastewater treatment sector, the growth of building automation sector in Europe and North America, and the growing demand for digital oil fields.
The building automation segment is expected to hold the largest share of the Intelligent Pump Market, by end-user, during the forecast period
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.
Centrifugal to be the fastest growing segment in the Intelligent Pump Market
With regard to the type segment, centrifugal pumps with intelligent systems are expected to constitute the fastest growing market from 2016 to 2021. 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 leading market for intelligent pump
In this report, the Intelligent Pump Market has been analyzed with respect to five regions, namely, North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Europe is expected to dominate the global Intelligent Pump Market, given an increase in the number of manufacturing and development activities in countries such as Germany, France, and Italy.
To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the top players in the Intelligent Pump Market. These players include Xylem, Inc. (U.S.), ITT Corporation (U.S.), Grundfos Holding A/S (Denmark), Sulzer Ltd. (Switzerland), and Flowserve Corporation (U.S.). Leading players are trying to penetrate the markets in developing economies, and are adopting various strategies to increase their market share.
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