LOS ANGELES, March 27, 2019 (GLOBE NEWSWIRE) -- The global digital pump controller market size is anticipated to reach around USD $13.57 billion by 2026, this market is anticipated to grow with 6.3% CAGR during the forecast time period. Increase in online browsing is expected to drive the growth of the global digital pump controller market.
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Increase in the installation of water pumps across the globe is driving the need for digital pump controllers to control these water pumps automatically. Hence, this factor is projected to drive the digital pump controller market. However, the lack of awareness about digital pump controllers in some regions can be a restraining factor that can hinder the growth of the digital pump controllers market. The transition from conventional pumps to the digitally advanced pumps is expected to create growth opportunities for manufacturers globally. Moreover, the increasing government support for wastewater treatment is predicted to offer significant opportunities for the digital pump controller market. Digital pump controllers have some advantageous features. In the digital pump controller, the motor gets automatically switched on when the water level in the overhead tank decreases below the lower limit. In the same way, the pump gets switched off when the tank is full. Therefore, the automatic operation of digital pump controllers decreases the amount of wastewater. This factor is expected to drive the growth of the digital pump controllers.
The global digital pump controller market is estimated to be driven by the significant growth in the Asia Pacific. The region is estimated to hold significant market share during the forecast period due to the major contribution from developing countries such as India, China, and Japan. The digital pump controller market in the Asia Pacific is mainly driven by increasing adoption of advanced technologies and solar water pumps. This is due to the rise in a number of government regulations that are encouraging the digital pump controller manufacturers to develop energy-efficient products. Digital pump controllers have huge potential in emerging markets of Asia Pacific due to the increasing demand for energy conservation. Moreover, the economies are focusing on increasing precision agriculture which is expected to help the manufacturers to design pump controllers that consume less energy and are easy to operate. For instance, in March 2018, Kirloskar Brothers Limited, which is an India based company, announced a standard in open well submersible pumps for domestic use and farmers. Thus, pump controllers with innovative features are essential to control these types of submersible pumps.
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The global digital pump controller market is segmented into connectivity, distribution channel, industry vertical and region. On the basis of connectivity, the global digital pump controller market is segmented into convention pump controller and mobile/remote pump controller. On the basis of the distribution channel, the global digital pump controller market is segmented into online and retail. Retail is further sub-segment into two i.e. company-owned and third-party. On the basis of industry vertical the global digital pump controller market is segmented into manufacturing, Public sector, Agriculture and residential. Manufacturing sub-segment is further segmented into food and beverages, pharmaceuticals, oil and gas, textile and papers, chemicals, biotechnology, and constructions. The public sector is further segmented into pumping stations, water, and wastewater treatment. On the basis of the region the global digital pump controller market is segmented Latin America, Europe, Asia Pacific, North America, and Middle East & Africa.
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The Asia Pacific region is estimated to expand at a high CAGR during the forecast period. The demand for digital pump controllers in the Asia Pacific region is primarily driven by the usage of digital pump controllers in agriculture and water and wastewater treatment. The digital pump controller market in the Europe region is expected to grow significantly owing to the growing requirement to decrease the energy consumption of pump controllers. The rising popularity of connected devices such as smartphones and SCADA systems is projected to drive the demand for digital pump controller market.
The key players catering to the global digital pump controller market include CC&S Electric Limited, Precision Digital Corporation, Sulzer Ltd., Kirloskar Brothers Limited, Dwyer Instruments, Inc., Grundfos, Valmont Industries, Inc. (Vally), Xylem Inc., and Spring (Europe) Ltd, Remote Control Technology, etc. The key players in the global digital pump controller market have taken strategic initiatives that include partnerships, new product launch, acquisitions, and mergers. The rise in investments coupled with technological advancements to commercialize highly efficient pump products is projected to offer lucrative opportunities for market players in the global digital pump controller market.
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