Intelligent Pumps Market

Global Industry Analysis (2017 - 2020) - Growth Trends and Market Forecast (2021 - 2025)

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Industry: Energy & Natural Resources | Author Name: Hrishikesh

Wide Application Base and Energy Efficiency of Intelligent Pumps Drive Global Market

Traditional pumping solutions have been getting an upgrade with the integration of automation with the ultimate objective to maximise the output, and minimise breakdowns and delays.  In their new role, the automated pumping solutions, including intelligent pumps have the potential to improve process control, enable better management of their health, and assist plants in reducing total energy consumption.

An intelligent pump is a specially integrated and automated pump that has the ability to regulate the flow or pressure. The key advantages of an intelligent pump, i.e., energy efficiency, lifetime improvements, and system cost reductions. The key role of an intelligent pumps is to automatically adjust operations to match the head requirements of the system, which account for effectiveness and efficiency of pumps. Extensive application in boilers and systems, temperature control, water treatment, industrial water supply, wash and clean, machining, and desalination predominantly fuels the global intelligent pumps market.

Better Operational Efficiency & Energy Saving Account for Proliferated Adoption

The initial cost of investment is high, which hampers the entry of new players in the market. However, stringent government norms about greenhouse gas (GHG) emissions and carbon emissions have encouraged the entry of new players in the intelligent pumps market. Consequently, the rate of penetration is moderate since the intelligent pumps market is diversified and entertains a large number of players. The market is governed by better operational efficiency, energy saving, and automation. Suppliers are forming strategic short-term or long-term contracts with companies involved in the manufacturing of gas turbines.

Major pump manufacturers have been preferring backward or forward integration to secure their supply of components, thereby lowering the bargaining power of raw material suppliers. A large number of companies such as Grundfos Holdings AS, and ITT Goulds Pumps are offering intelligent pumps to enhance the performance and efficiency. Intelligent pumps developed by these companies are predominantly supplied to various end-use industries, such as power, oil & gas, and construction.

Technological investments pertaining to manufacturing of intelligent pumps are high when compared to traditional pumps available in the market. Thus, companies involved in manufacturing of intelligent pumps have acquired technological patents related to F-class, and H-class intelligent pumps solutions. This limits the small players involved in the pumps market to invest on technology front. Thus, high capital investments involved in setting up of intelligent pumps production facilities is the key restraint hampering the growth of intelligent pumps market

Industrial Adoption of Intelligent Pumps to Grow at a Rapid Pace

The industrial application holds a major share in the market and is used for temperature control, pressure boosting, water supply, and wastewater treatment. Water utility is a prominent application of intelligent pumps, as it is used for water treatment, wastewater treatment, and water distribution. Stringent government regulations on usage of energy are expected to fuel the need for energy-efficient pumps for industrial and commercial sectors.

According to the US Department of Energy, the potential energy savings with intelligent pump systems can be nearly 20% of the total energy requirements of the process. The potential to lessen the speed of the pump system to match the required load provides an outstanding opportunity to reduce energy consumption. Therefore, rising need for energy-efficient pumps is anticipated to drive the intelligent pumps market during the forecast period.

Major developments in intelligent pumps are expanding with respect to wireless control and monitoring capabilities. The installation cost of intelligent pump is expensive. However, these systems allow for the access of real-time operating data on their pumping equipment. This counterbalances the higher initial costs by reducing unplanned downtime and developed predictive maintenance plans. The additional benefits of wireless monitoring systems and pump control are apparent considering the existing challenges faced by pump system end users. The constant possibility of equipment failure necessitates retaining a large in-house maintenance staff in order to repair and monitor the equipment. Retaining a substantial number of employees specifically for repairing and monitoring increases the unplanned downtime for maintenance and leads to additional costs. Intelligent pumps, however, can help in slashing the challenges related to maintenance labour through equipment monitoring and lesser equipment wear.

Europe Leads in Terms of Deployment of Intelligent Pumps

The demand for intelligent pumps in European region is driven by the deployment of these pumps in several industries, coupled with strong presence of some of the world’s major manufacturers in European countries. European countries have been the early adopters of intelligent pumping solutions, especially in the industrial and water utility-based industries. Europe thus has been the key manufacturer as well as consumer of intelligent pumps. A majority of demand is driven by the rising demand from end-use industries and government-imposed regulations related to energy efficiency. The European Commission, through the Energy Intelligent Europe (EIE) programme, has introduced a project named Energy + Pumps, which is expected to initiate a market transformation to new and highly energy-efficient pumps and technologies for small- and medium-sized circulators in domestic heating systems.

North America also holds a significant share in the global intelligent pumps market. Rising demand from the water and wastewater treatment sectors in North America is expected to drive the market in this region. On the other hand, Asia Pacific is also developing a lucrative market for manufacturers and suppliers of intelligent pumps. Asian economies, China being the key nation pioneering the deployment of intelligent pumping solutions, present a high-potential market. Other regions such as the Middle East and Africa do not possess domestic manufacturing bases for pump production and therefore completely depend on imports. These regions have thus emerged as attractive export destinations with low-priced Indian and Chinese pump sets, creating an advantage over their high-cost American and European counterparts.

Global Intelligent Pumps Market: Competitive Landscape

Grundfos Holdings AS remains the global leader in terms of sales and installation of intelligent pumps. The company is among the trendsetters in intelligent pumping solutions landscape. Besides, The Yaskawa Electric Corporation, and Alfa Laval AB are also the leading players in the intelligent pumps market. ITT Goulds Pumps, QuantumFlo, Allweiler Pumps and Systems, Armstrong Fluid Technology, and Kirloskar Brothers Limited are some other key players in the intelligent pumps market.

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