Witha massive pool of small, medium, and large participants, globalintelligent pumps market demonstrates a highly fragmentedbusiness landscape. The market comprises of both, international and localplayers in large numbers, which intensify the competition within it. To sustainthis competition, leading players are resorting to strategic alliances withsmaller players. Goulds Pumps, Grundfos Holding A/S, QuantumFlo Inc., Alfa Laval,and Kirloskar Brothers Ltd. are some of the key participants in the globalintelligent pumps market. These players are investing heavily on thedevelopment of advanced intelligent pumps to meet the demands of consumers.They are also focusing on developing distribution channels to improve theirreach.
Accordingto a report by Transparency Market Research (TMR), the global intelligent pumpsmarket is expected to report a CAGR of 6.40% during the period from 2017 and2025. Progressing at this pace, this market is likely to reach US$748.5 mn by2025 from a value of US$424.4 mn in 2016.
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Europeto Retain Leadership
Theresearch report also offers a qualitative analysis of each of the regionalmarkets for intelligent pumps. North America, Latin America, the Middle Eastand Africa, Europe, and Asia Pacific have surfaced as the key regional segmentsof the global intelligent pumps market. Europe, among these, has acquired theleading position. In 2016, it held a share of approximately 35% in the overallmarket. With the rising demand for clean drinking water, the need forintelligent pumps is increasing considerably in Europe. Researchers predict,this factor is likely to support the Europe intelligent pumps market inmaintaining its dominance over the forecast period.
On theother hand, Asia Pacific is anticipated to report a relatively faster CAGR of7.30% during the period from 2017 to 2025. China has emerged as the mostprominent contributor in the Asia Pacific intelligent pumps market, thanks toits increased export of low-priced pumps to the Middle East and Africa. Indiais also a key domestic market for intelligent pumps in Asia Pacific. Theincreasing investments of the Indian government in industrialization andurbanization are propel the intelligent pumps market in this region, states theresearch report.
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Operational Efficiency of IntelligentPumps to Boost Demand
“The mainfactor that has been fueling the demand for intelligent pumps is theiroperational efficiency,” says a TMR analyst. By automating functions and thecontrol of the pressure of the flow or water or other fluids, these pumpsreduce the need for manual operations. They also provide real-time functionaldata of the pumping device, which assist in identifying faults and repair it intime to prevent equipment failure. The market is also gaining considerably fromconstant efforts by manufacturers to produce advanced products, in a bid toattain a competitive edge over other players.
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On theother hand, the implementation of stringent energy-efficiency standards,especially in developed countries, may hamper the growth of the globalintelligent pumps market. However, the preference for smart water andwastewater systems, rise in power generation capacities, and substantialinvestments in the non-oil and gas industries in the North Africa and MiddleEast region will balance the impacts of restraints in the years to come, notesthe study.
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