Intelligent Pump Market Size, Share & Industry Impact Analysis, By Type (Centrifugal Pump and Positive Displacement Pump), By End-User (Building Automation, Water & Wastewater, Oil & Gas, Power Generation, Chemical, and Others), and Regional Forecast, 2024-2032

The global intelligent pump market was valued at USD 0.91 billion in 2023. The market size is projected to grow from USD 0.97 billion in 2024 to USD 1.75 billion by 2032, exhibiting a CAGR of 7.37% during the forecast period.

Intelligent pumps are driven by digital technology. They are the high-end and modern version of conventional pumps. It is a specialized pump that operates through digital control abilities and variable frequency. Intelligent or smart pumps are equipped with many benefits, including monitoring, energy management, and remote-control applications. The demand for these pumps is rising as they offer fluid flow control features. Furthermore, these pumps save energy and cost and have applications in building, water treatment plants, boiler control systems, and automation.

COVID-19 was declared a global pandemic on March 11, 2020. As of February 6, 2022, over 392 million cases, including over 5.7 million deaths have been reported worldwide. Various developing as well as developed countries, including the U.S., Germany, France, Italy, India, and many others, have observed a significant rise in the total number of cases over the period. For instance, as per the ‘Our World in Data’ database operated by the Global Change Data Lab, an associate of the University of Oxford, the total confirmed cases of COVID-19 across the U.S. were about 1.79 million on June 1st, 2020, and it reached over 6.75 million by February 6th, 2022

Accordingly, the global intelligent pump market has also been considerably affected by the outcome of this unprecedented situation, as various countries have experienced a considerable loss in the total workforce in various sectors. Degrading macroeconomic conditions across nations and the absence of required capitals among customers pose key problems affecting the global intelligent pump industry trends. Furthermore, due to global lockdown scenario, intelligent pump manufacturers are facing numerous issues pertaining to order closures. Also, the key factor impacting the industry pace is delay in procuring raw materials and parts from suppliers, majorly located in China and other Southeast Asian countries.

Intelligent Pump Market Trends

Increasing Focus in Digitalization to Augment Market Growth

The ascent in digitalization is enhancing the existing items, administrations, and cycles, which are expected to open doors for the smart pump market. Smart pumps coordinate with clever frameworks comprising smart items, administrations, and cycles, which open up the unrivaled capability of the framework's usefulness. Tendency toward energy effectiveness and development in IIOT (Industrial Internet of Things) is relied upon to stimulate the market for smart pump as it gives monetary advantages to the financial framework. Furthermore, powerful development in HVAC (heating, ventilation & air-conditioning) frameworks and improvement in advanced oil fields are a few different elements liable for the market development.

Seepex, a worldwide forerunner in pumps, is driving the computerized change in its pump technology and provides particular arrangements organization, control, and checking of the pumps to advance cycles, amplify accessibility, lessen assessment, and support costs. In addition, the firm began conveying associated administrations for pump technology, which helps gather and break down pump information to recognize early harm, bringing about expanded framework accessibility and efficiency

Rising Number of Merger and Acquisition Initiatives by Key Players to Boost Industry Growth

Different industry players are consistently running after performing natural and inorganic development exercises to increase their product portfolio for better reach across the globe, invigorating the reception patterns of the smart pump market. For instance, in October 2021, Wilo LLC, a part of Wilo SE, secured the business of QuantumFlo, Inc, one of the specialists in smart pump and pressure boosting systems. The firm, situated in Sanford, U.S., delivers quality products and user-friendly innovative software solutions for the control and design of pressure-boosting systems.

Intelligent Pump Market Growth Factors

Continuous Technological Advancements & R&D to Propel Industry Growth

The ongoing market research and development with advancements in smart pump systems, such as advanced process control features and real-time data monitoring, is estimated to offer better growth opportunities for prime and emerging players in the smart pump industry as smart pumps are connected to advanced water sources such as boreholes that would quickly identify inefficient or faulty infrastructure, reduce the need for visits, improve monitoring and data collection, and reduce the time required for subsequent repair of malfunctioning pumps. Pump technology has advanced to a considerable extent in recent years. The remarkable improvements in intelligence and efficiency will bring the benefits of building efficiency and lower OPEX. Accordingly, different research organizations and industrial players continuously focus on commercializing and developing advanced smart pumps.

For example, smart pumps based on advanced process control offer various procedural benefits, including device miniaturization, real-time monitoring capabilities, and increased analytical efficacy.

Upcoming Smart Cities Projects to Boost Industry Growth

The new smart cities projects in developing regions offer growth opportunities for the smart pump market. Smart city technology has proven to be revolutionary in the field of water supply and has changed the way cities manage water resources. Smart cities leverage innovation to improve water management, resulting in greater efficiency, cost savings, and proactive decision-making. Adopting technology to collect data, streamline operations, and plan improvements has become critical to a more streamlined and efficient utility infrastructure as the demand for smart solutions accelerates to build more connected and sustainable cities.

For instance, in August 2023, Grundfosthe, world's leading manufacturer of advanced pump solutions and water technologies, launched its new NK and NKE series in South Korea. The new long connection suction pumps have been claimed to have industry leading energy efficiency. Furthermore, the advanced NKE range uses smart technology for ease of use, advanced monitoring capabilities, and better connectivity considering South Korea's position as one of the country’s most vulnerable to the effects of climate change.

Considering another example, in June 2021, the World Bank’s Board of Executive Directors sanctioned a USD 212 million financing package, which includes a USD 177 million International Bank of Reconstruction and Development (IBRD) loan aimed at a new smart city project in Ukraine. This project is expected to positively enhance the country's demand for smart pump solutions.

RESTRAINING FACTORS

High Product Cost Poses Threat to Market

The high initial cost of the smart pump is expected to restrain the market growth. Advancements in intelligent pump frameworks incorporate the utilization of wireless technologies for added command over longer distances. This, however, can come at an extremely high establishment cost, which a great deal of end users may not be equipped for purchasing. They could get government support throughout the next few years, perceiving how intelligent pumps can assist with saving energy in the midst of the current energy crunch. Furthermore, smart pumps provide better pumping solutions for the mining & metal industries due to less human intervention and more efficient characteristics. Therefore, its downturn has hampered the market growth.

Intelligent Pump Market Segmentation Analysis

By Type Analysis

Centrifugal Pump to Augment Segment Outlook

Based on type, the market is classified into centrifugal pump and positive displacement pump.

The centrifugal pump segment is expected to hold a major share in the market, owing to its characteristics over conventional pumps and their utilization in multiple applications in various end-use sectors, including agriculture, power generation plants, municipal (water and wastewater plants), petroleum, and other end-use industries.

Centrifugal pumps have a high portion of the overall industry as they can handle variable pressure circumstances and capable of handling high viscous fluid. They can possibly reduce down energy expense, which is financially cost-effective. Control frameworks structure a critical part as they can empower energy efficiency in different application. Centrifugal smart pumps are profoundly utilized in the water/wastewater industry. On the other hand, positive displacement pumps work more effectively with a higher viscosity fluid. They have applications in oil processing centers, municipal sewage systems, and manufacturing centers that produce thick paste and other dense materials.

By End-User Analysis

Building Automation End-Use Segment to Dominate Market Owing to Their Large Fleet Size

Based on end-user, the global market is segmented into building automation, water & wastewater, oil & gas, power generation, chemical, and others.

The building automation segment is estimated to lead the market due to the pumps’ suitable operation in smart cities infrastructure for air conditioning and water circulation. Additionally, these pumps have applications in wastewater management, power generation, oil & gas, chemical, and other end-use industries. These factors offer many growth opportunities for smart pumps in the coming years. As the industries move toward automation, the applications of the smart pump are increasing in these areas.

REGIONAL INSIGHTS

In terms of geography, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

The intelligent pumps market size in Europe stood at 0.29 billion in 2023 and is estimated to dominate the market owing to the rising demand for smart water systems and building automation. Countries across Europe have an increasing installation of water and wastewater plants with increasing demand for clean water across various sectors. For instance, in July 2020, H+E GmbH/Germany/Stuttgart, one of the leading international suppliers of industrial process water and wastewater management solutions secured the contract for a supply water treatment plant for an automobile manufacturer in Germany.

Asia Pacific is expected to develop at the most elevated CAGR over the estimated timeframe. The market development in Asia Pacific can be credited to ensuing expansions in monetary exercises, such as industrialization, current farming, and urbanization, and exacerbating requirement for clean and reusable water. In addition, South Korea, Indonesia, China, India, and Taiwan hold a major share in the worldwide chemical industry. Conversely, according to BASF report, China is the biggest supplier to the chemical market and is expected to develop at 6.3% in the next few years.

North America holds a substantial market share, owing to key manufacturers in the region. Manufacturers, such as ITT Corporation, Xylem, Flowserve Corporation, Colfax Corporation, Regal Beloit, and others, have dominated the regional market for smart pump solutions. Enterprises, such as water and wastewater, are assessed to impel the advancing cavity pump market. For instance, in Canada, practically 86% of the populace is served by metropolitan wastewater frameworks.

Latin America is anticipated to grow due to rising demand for water treatment technologies in the region.

In the Middle East & Africa, GCC countries encountered an expansion in populace by 30%. They are relied upon to encounter an expanding strain on their power, food, and water supplies to guarantee manageable development. Consequently, the smart pump market in this region is expected to encounter new technical advancements during the forecast timeframe. 

List of Key Companies in Intelligent Pump Market

ITT Corporation and Xylem are Focusing on Acquiring Contracts to Fortify Customer Reach in Market

The competitive landscape of the intelligent pump market portrays a market overwhelmed by ITT Corporation and Xylem. These players hold a significant market covered with smart and innovative pumps spread across Europe, North America, and Asia Pacific. The market has the presence of other central manufacturers, such as Wilo SE, Sulzer, Grundfos Holdings, Wanner International, Flowserve enterprise, and others, that have presence in their dynamic regions. The ABB Group is also projected to hold a significant market share owing to its long-standing presence in the industry coupled with optimized functioning potential of its portfolio. The broad client reach in various areas of the planet, along with higher brand esteem contrasted with different organizations, has been the conspicuous component for organizations, such as ITT Corporation, to foster a solid impression in the global market.

List of Key Companies Profiled:

• ITT Corporation (U.S.)


• Xylem (U.S.)


• KSB Aktiengesellschaft (Germany)


• Flowserve Corporation (U.S.)


• Wilo SE (Germany)


• ABB (Switzerland)


• Grundfos Holding (Denmark)


• Sulzar (Switzerland)


• Colfax Corporation (U.S.)


• Regal Beloit (U.S.)


• Wanner International (U.K.)


• Kirloskar (India)

KEY INDUSTRY DEVELOPMENTS:

• April 2024: Kirloskar Brothers Limited announced the launch of nest-gen mini-series pumps ANISA-II and ANNIKA-II pumps with 0.5 HP and advanced features. These pumps if combined with Kirlosmart will eliminate labor-intensive intermediation for monitoring the working of pump sets.


• February 2024: ITT Corporation signed a three-year agreement for the supply of API-610 centrifugal pump systems and related products and engineered services to ExxonMobil, one of the world’s largest international energy and petrochemical companies.


• June 2023: Xylem released a new dewatering pump designed to meet the unique demands of deep-mine and high-pressure water transfers. The Godwin HL270M Dri-Prime Pump delivers a maximum head of 300 m (984 ft) and flows of up to 280 liters per second. The pump also delivers a hydraulic efficiency of up to 70% through its enclosed impeller.


• August 2021: Regal Beloit Corporation, one of the global leaders in the manufacturing and engineering of power transmission solutions, declared the recent addition of its new Century VGreen Evo pool pump motor to its product portfolio. Operated by advanced variable speed technology, the VGreen Evo pump motor is one of the most energy-efficient pool pump motors available in the market.


• March 2020: Framo and Aker BP declared a smart pump maintenance contract for seawater lift pumps based on Norwegian Continental Shelf. With an extension of six years, the six-year-long contract is a continuation of a pilot contract initiated by pump supplier Framo, production company Aker BP, and industrial AI Software-as-a-Service (SaaS) in 2018.

REPORT COVERAGE

The research report presents a comprehensive industry assessment by offering valuable insights, facts, industry-related information, and historical data. Several methodologies and approaches are adopted to make meaningful assumptions and views to formulate the market research report. Furthermore, the report covers a detailed analysis of market segments, including end-users and regions, helping our readers get a comprehensive overview of the global industry.

REPORT SCOPE & SEGMENTATION