Global Intelligent Pump and Control Systems Market 2017-2021
About Intelligent Pump and Control Systems
Intelligent pumps refer to equipment that can regulate and control flow or pressure. These are also defined as a combination of pumps with a variable frequency drive and having a digital control capability. They help in managing energy of an end-user’s industry, by remotely monitoring the processes and ensuring control of the remote systems of a facility. Intelligent pumps include wireless control and monitoring capabilities that enable end-users to access real-time operational data. This helps in reducing the downtime of processes and improves the end-user’s predictive maintenance plans.
Technavio’s analysts forecast the global intelligent pump and control systems market to grow at a CAGR of 7.68% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global intelligent pump and control systems market for 2017-2021. To calculate the market size, the report considers the new installations, sales, retrofit, replacement, and services market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Intelligent Pump and Control Systems Market 2017-2021
Technavio recognizes the following companies as the key players in the global intelligent pump and control systems market: Emerson, Flowserve, Grundfos, Sulzer, and Rockwell Automation.
Other Prominent Vendors in the market are: Bosch Rexroth, YASKAWA, ROHM, ABB, Dana Brevini, ifm, and Delphi Automotive.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Wireless control and monitoring. Intelligent pumps come with a variable frequency drive (VFD) with digital control capabilities. The other control systems that are connected to these intelligent pumps are generally connected with hard wires to provide the facility of real-time data collection. There have been situations in which vendors face difficulty in managing the different wires connected to control systems. Therefore, manufacturers in the market are looking toward developing intelligent pumps and control systems that work on wireless technology. Digital control capabilities of these intelligent pumps make it easier for real-time data collection and help in maintaining the ease in operations within facilities. With the help of wireless control and monitoring feature, pumps can be managed through a remote control system. This feature increases the operational control of intelligent pumps.”
According to the report, one of the major drivers for this market is Cost and energy savings for industries. Intelligent pumps come with the feature of enhanced control of flow or pressure over traditional pumps. Moreover, these pumps are able to regulate the flow in accordance with the requirements of different processes, thereby consuming less energy and saving time. This enables the companies to cut costs incurred in energy use within facilities. In addition, these pumps complete the work in less time, achieving the production excellence required. The energy saving feature not only cuts the overall cost but also helps in delivering improved performance. As these pumps are controlled through software, the chances of their getting damaged due to overload or from the variability in parameters such as temperature and pressure become low.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuation in the prices of raw materials. Intelligent pumps are generally made of materials such as cast iron, bronze, stainless steel, aluminum, and copper. The prices of these raw materials keep varying from time to time. Different versions of intelligent pumps that are available in the market use different sorts of materials procured from multiple sources. Such situations result in difficulty for manufacturers to strategize on the pricing of these pumps. Regional vendors offer price-effective products in the market and therefore increase the competition for international vendors. Fluctuating prices of raw materials result in varying prices of intelligent pumps made by the same vendors. This is owing to the adoption of low pricing strategy, which could help vendors in attaining an appropriate return on their investments. This makes it very tough to justify the pricing strategy of the same version of intelligent pumps to end-users.
Emerson, Flowserve, Grundfos, Sulzer, Rockwell Automation, Bosch Rexroth, YASKAWA, ROHM, ABB, Dana Brevini, ifm, and Delphi Automotive.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook