Portland, OR, Oct. 26, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global intelligent pump market generated $1 billion in 2021, and is projected to reach $2.1 billion by 2031, growing at a CAGR of 7.3% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $1 billion |
| Market Size in 2031 | $2.1 billion |
| CAGR | 7.3% |
| No. of Pages in Report | 310 |
| Segments Covered | Type, component, end-user industry, and region. |
| Drivers | Increase in global population and rise in disposable income among people |
| Rise in adoption of eco-friendly ways of living | |
| Opportunities | Growth of the manufacturing industries |
| Increase in awareness among people regarding sustainability |
COVID-19 Scenario:
- The outbreak of the COVID-19 has had a negative impact on the growth of the global intelligent pump market, owing to the occurrence of lockdowns in various countries across the globe.
- Lockdowns resulted in the prevalence of various restrictions on manufacturing facilities, including those of intelligent pumps.
- The COVID-19 pandemic halted the production of many intelligent pump’s provider due to lockdown. The economic slowdown initially resulted in reduced production in end-user industries.
- In addition, reduction in skilled workforce and shortage of raw materials due to strict ban on import and export of necessary items further aggravated the impact on the market. These restrictions are imposed by the government so as to curb the spread of the virus during the pandemic.
- However, owing to the introduction of various vaccines, the severity of the COVID-19 pandemic has significantly reduced.
The report offers detailed segmentation of the global intelligent pump market based on type, component, end-user industry, and region.
Based on type, the centrifugal segment held the largest market share in 2021, holding more than two-thirds of the global intelligent pump market share, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 7.4% during the forecast period. The report also analyses other segment such as the positive displacement segment.
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Based on end-user industry, the industrial segment held the dominating market share in 2021, holding nearly 90% of the global intelligent pump market share, and is expected to maintain its leadership status during the forecast period. The building solutions segment, on the other hand, is expected to cite the fastest CAGR of 8.0% during the forecast period.
Based on component, the pumps segment held the dominating market share in 2021, holding more than two-thirds of the global intelligent pump market, and is expected to maintain its leadership status during the forecast period. The control systems segment, on the other hand, is expected to cite the fastest CAGR of 7.5% during the forecast period.
Based on region, the market across Asia-Pacific region held the dominating market share in 2021, holding more than two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The LAMEA region, on the other hand, is expected to cite the fastest CAGR of 8.4% during the forecast period.
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Leading Players:
The key player analyzed in the global intelligent pump market report include Grundfos Holding A/S, Ingersoll Rand Inc., ABB Ltd, All Pump Solutions, Armstrong Fluid Technology, Circor International, Inc., Flowserve Corporation, 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.
The report analyzes these key players in the global intelligent pump market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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