Intelligent Pump Market Growing at a CAGR of 7.3% from 2022 to 2031: Key Vendors ABB, All Pump Solutions, Armstrong

In 2021, the intelligent pump market boasted a valuation of $1 billion, a figure set to soar to $2.1 billion by 2031, with a steady growth rate of 7.3% from 2022 to 2031.

Centrifugal and positive displacement pumps stand out as the most commonly observed types within the realm of intelligent pumps. Among these, centrifugal pumps dominated the market landscape in 2021, attributed to their extensive utilization in water and low viscosity fluid pumping applications.

A thorough examination of the market reveals its composition in terms of various components typically found in intelligent pumps, including pumps themselves and the accompanying control systems. Notably, the control systems segment is anticipated to witness substantial growth, boasting a high Compound Annual Growth Rate (CAGR) fueled by technological advancements driving increased sales with each iteration.

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Market Outlook:
Segmentation by end-user industry highlights two primary sectors: industrial and building solutions. In 2021, the industrial segment emerged as the frontrunner in revenue generation. This surge can be attributed to the escalating demand for wastewater treatment solutions alongside the buoyant expansion of the oil and gas sector, responding to heightened energy requirements.

Despite these promising indicators, challenges persist within the intelligent pump industry. Notably, the sector grapples with the hurdle of high initial costs and the volatility of raw material prices essential for constructing these sophisticated pumps. Yet, even amidst these obstacles, the sector remains resilient, buoyed by a relentless pursuit of innovation and a burgeoning global demand for efficient fluid handling solutions.

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Industry Updates:
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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Key Players:
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.

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