Press release
Intelligent Pump Market Top Industry Expansion Strategies & Segments 2031 | At a CAGR of 7.3%
List of the Top Runners:Key companies profiled in the intelligent pump market forecast report include ABB, All Pump Solutions, Armstrong Fluid Technology, Circor International, Inc., Flowserve Corporation, Grundfos Holding A/S, Ingersoll Rand Inc., ITT Inc., Ketek Group, Kirloskar Brothers Limited (India), KSB SE & Co. KGaA, Sulzer Ltd., Unico LLC., Wanner International Ltd. (Hydra-Cell), Wilo SE, Xylem Inc., and Yaskawa Electric Corporation.
Commonly observed types of intelligent pumps are centrifugal and positive displacement pumps. The centrifugal segment accounted for the largest intelligent pump market share in 2021, owing to its wide usage in water and low viscosity fluid pumping. The market is analyzed with respect to different components incorporated by a typical intelligent pump, which includes pumps and control systems. The control systems segment is expected to witness growth with high CAGR, owing to its increased sales with each iteration in technology.
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The intelligent pump market size was valued at $1 billion in 2021, and is estimated to reach $2.1 billion by 2031, growing at a CAGR of 7.3% from 2022 to 2031.
The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
In 2021, Asia-Pacific dominated the global intelligent pumps market, in terms of revenue, followed by North America and Europe. Moreover, the market in LAMEA is expected to grow with high CAGR, owing to growth in oil & gas and manufacturing industries.
The key players in the intelligent pumps market are launching new and advanced products to sustain the harsh competition in the market. For instance, in March 2021, KSB SE & Co. KGaA launched hardware version of KSB guard smart monitoring solutions for pumps and other rotating equipment, used in potentially explosive atmospheres. This solution can easily be retrofitted in the existing pumps solutions.
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Segmentation Based On:
By Type -
Centrifugal
Positive Displacement
By Component -
Pumps
Control Systems
By End User Industry -
Industrial
Building Solutions
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