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Rising Oil And Gas Production Fuel Growth In The Smart Pump Market: A Key Driver Powering Smart Pump Market Growth In 2025
Smart Pump
What Is the Current Smart Pump Market Size and Its Estimated Growth Rate?
The smart pump market size has grown significantly in recent years. It will increase from $0.99 billion in 2024 to $1.08 billion in 2025, with a CAGR of 8.7%. The growth can be attributed to the rising prevalence of chronic diseases, the growing demand for home healthcare, the aging population, expanding healthcare facilities, and the emphasis on patient safety.
The smart pump market is projected to grow to $1.49 billion by 2029, at a CAGR of 8.4%. The growth is attributed to rising healthcare expenditure, the growing adoption of telehealth services, the need for operational efficiency in hospitals, improved patient outcomes, and an increase in outpatient procedures. Key trends include AI integration, enhanced data analytics capabilities, a focus on interoperability, the expansion of remote patient monitoring, and increa
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How Are Emerging Segments Shaping the Smart Pump Market Landscape?
The smart pumpmarket covered in this report is segmented -
1) By Pump Type: Centrifugal, Positive Displacement
2) By Capacity: Up To 30 m3/h, 30 To 90 m3/h, 90 To 180 m3/h, 180 To 360 m3/h, Above 360 m3/h
3) By End-User: Building Automation, Water And Wastewater, Oil And Gas, Chemicals, Power Generation, Other End Users
Subsegments:
1) By Centrifugal Pumps: Horizontal Centrifugal Pumps, Vertical Centrifugal Pumps, Submersible Centrifugal Pumps, Magnetic Drive Centrifugal Pumps
2) By Positive Displacement Pumps: Gear Pumps, Diaphragm Pumps, Piston Pumps, Screw Pumps, Peristaltic Pumps
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Which Growth Factors Are Influencing Smart Pump Market Expansion?
The rise in oil and gas production activities is expected to drive the growth of the smart pump market. Oil and gas production, driven by increasing energy demands, particularly in developing economies, and advances in extraction technologies, is growing. Smart pumps in oil and gas production optimize efficiency by using real-time data to control fluid flow, reducing energy use and operational costs. For example, the UAE's crude oil reserves grew from 107 billion barrels in 2022 to 111 billion barrels in 2023. Therefore, growth in oil and gas production is driving the smart pump market.
Who Are the Dominant Players Across Different Smart Pump Market Segments?
Major companies operating in the smart pump market are Schlumberger Ltd., Baker Hughes, Emerson Electric Co., Aker BP, Danfoss A/S, National Oilwell Varco, Xylem Inc., EBARA Pump Europe, Grundfos Holding A/S, Pentair plc, Flowserve Corporation, Sulzer Limited, ITT Corporation, KSB SE & Co. KGaA, Wilo SE, Gorman-Rupp Company, Kirloskar Group, Tsurumi Manufacturing Co., Ltd., Hidrostal AG, M Pumps, Suguna Pumps
What Are the Major Trends Shaping the Smart Pump Market?
Major Companies in the smart pump market are introducing innovative solutions like IoT-based remote pump monitoring systems to improve efficiency, predict maintenance needs, and prevent breakdowns. These systems enable real-time monitoring of pump performance through internet-connected sensors and software. In August 2022, Kirloskar Brothers Limited (India) launched KirloSmart, an IoT-based remote pump monitoring system. It provides real-time monitoring, troubleshooting, and predictive maintenance, offering enhanced features like 4G/5G compatibility and advanced analytics for better energy savings and pump longevity.
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Which Geographic Regions Are Expected to Dominate the Smart Pump Market in the Coming Years?
North America was the largest region in the smart pump market in 2024. The regions covered in the smart pump market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Smart Pump Market?
2. What is the CAGR expected in the Smart Pump Market?
3. What Are the Key Innovations Transforming the Smart Pump Industry?
4. Which Region Is Leading the Smart Pump Market?
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