[305 Pages Rreport] The digital pump market is anticipated to have a prodigious CAGR of 6.1% during the period of 2022 to 2032. The digital pump market is anticipated to reach US$ 20.5 Billion in 2032, up from US$ 11.3 Billion in 2022.
Digital pumps save energy and cost and have applications in buildings, water treatment plants, boiler control systems, and automation, which is an essential factor propelling the market growth.
Factors such as strict energy-efficiency standards, growing technological advancements, development of smart cities, growing demand for building automation, and increasing power generation capacity globally are expected to fuel the market growth during the forecast period.
| Attributes | Details |
|---|---|
| Digital Pump Market CAGR (2022 to 2032) | 6.1% |
| Digital Pump Market (2022) | US$ 11.3 Billion |
| Digital Pump Market (2032) | US$ 20.5 Billion |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The major factor that is expected to propel the growth of the Digital Pump Market during the forecast period includes the rising demand for these pumps, owing to their offerings such as fluid flow control features.
These pumps save energy and cost and have applications in buildings, water treatment plants, boiler control systems, and automation. This is another major factor accelerating the market growth.
Some other factors include strict energy-efficiency standards in developed nations, growth in the Industrial Internet of Things (IIoT) and economic benefits of intelligent systems, focus on smart water & wastewater systems, increasing power generation capacities across the globe, and significant investments in non-oil & gas sectors in the Middle East and North Africa (MENA) are the expected to further augment the growth of the digital pump market over the analysis period.
Government economic stimulus packages as well as tax credits that are targeting infrastructure projects, including water & wastewater and energy efficiency projects, are also expected to widen the scope of the digital pumps market.
There are some factors that are acting as obstacles and are hindering the growth of the Digital Pump Market during the forecast period.
The high initial cost of the smart pump is one of the major factors that hinder the growth of the Digital Pump Market. As intelligent pumping solutions have higher acquisition costs versus standard pumping equipment, it challenges providers to prove the cost-value ratio of their products to end users, thereby restraining the growth of the market.
In addition, the smart pumps provide better pumping solutions for the mining & metal industries due to less human intervention and more efficient characteristics. Therefore, its downturn has hampered market growth.
Principal Consultant
The ongoing market research and development with advancements in smart pump systems, such as advanced process control features and real-time data monitoring, is estimated to offer better growth opportunities for prime and emerging players in the smart pump industry.
Accordingly, different research organizations and industrial players continuously focus on commercializing and developing advanced smart pumps. For instance, smart pumps based on advanced process control offer various procedural benefits, including device miniaturization, real-time monitoring capabilities, and increased analytical efficacy.
The new smart city projects in developing regions offer growth opportunities for the smart pump market. For instance, in June 2021, the World Bank’s Board of Executive Directors sanctioned a USD 212 Million financing package, which includes a US $ 177 Million International Bank of Reconstruction and Development (IBRD) loan aimed at a new smart city project in Ukraine. This project is expected to positively enhance the country's demand for smart pump solutions.
The Digital Pump Market is expected to reach heights during the forecast period, owing to strict energy-efficiency standards, growing technological advancements, the development of smart cities, growing demand for building automation, and increasing power generation capacity globally.
The digital pump market can be segmented on the basis of Connectivity, Distribution Channel, Industry, and Region.
The centrifugal pump segment is expected to hold a major share in the market, owing to its characteristics over conventional pumps and their utilization in multiple applications in various end-use sectors, including agriculture, power generation plants, municipal (water and wastewater plants), petroleum, and other end-use industries.
The building automation segment is estimated to lead the market due to the pumps’ suitable operation in smart cities' infrastructure for air conditioning and water circulation. Additionally, these pumps have applications in wastewater management, power generation, oil & gas, chemical, and other end-use industries. These factors offer many growth opportunities for smart pumps in the coming years. As industries move toward automation, the applications of the smart pump are increasing in these areas.
On the basis of Connectivity, the market can be segmented into the following: Conventional Pump Controllers, and Mobile/Remote Pump Controllers. By Connectivity, the Conventional Pump Controller is expected to reach the highest CAGR of 4.9% during the forecast period.
By Distribution Channel, the market can be segmented into the following: Online, and Retail. On the basis of the Distribution Channel, Retail is further sub-segmented into the following: Company Owned, and Third Party. Retail is expected to reach the highest CAGR of 5.6% during the forecast period. By Industry, the market can be segmented into the following: Manufacturing, and Public Sector, Agriculture, and Residential.
On the basis of Industry, the Manufacturing segment can be sub-segmented into the following: Food and Beverage, Pharmaceutical, Oil & Gas, Textile and Paper, Chemicals, Biotechnology, and Construction. On the basis of Industry, the Public Sector Industry can be sub-segmented into the following: Water and Wastewater Treatment, and Pumping Stations.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The global digital pump market is divided into North America, South America, Europe, Asia Pacific, the Middle East, and Africa based on geography.
The intelligent pump market size in Europe stood at USD 0.25 billion in 2020 and is estimated to dominate the market owing to the rising demand for smart water systems and building automation. Countries across Europe have an increasing installation of water and wastewater plants with increasing demand for clean water across various sectors. For instance, in July 2020, H+E GmbH/Germany/Stuttgart, one of the leading international suppliers of industrial process water and wastewater management solutions secured a contract for a supply water treatment plant for an automobile manufacturer in Germany.
Asia Pacific, on the other hand, is expected to develop at the most elevated growth rate over the estimated timeframe. The market development in the Asia Pacific can be credited to ensuing expansions in monetary exercises, such as industrialization, current farming, and urbanization, and exacerbating the requirement for clean and reusable water. In addition, South Korea, Indonesia, China, India, and Taiwan hold a major share of the worldwide chemical industry.
North America holds a substantial market share, owing to key manufacturers in the region. Enterprises, such as water and wastewater, are assessed to impel the advancing cavity pump market. For instance, in Canada, practically 86% of the populace is served by metropolitan wastewater frameworks.
Sales of digital pumps in the USA are projected to reach a valuation of US$ 5.5 Billion by 2032 with a CAGR of 6.1%. China is expected to reach a market size of US$ 1.6 Billion in 2032, representing a CAGR of 5.1%, over the forecast period.
UK and India are expected to reach a market size of US$ 0.9 Billion and US$ 0.7 Billion in 2032, representing growth forecasts of 6.4% and 9.7% respectively, throughout the forecast period. Japan, on the other hand, is expected to reach a market size of US$ 0.5 Billion in 2032, representing a CAGR of 4.0%, during the forecast period.
ITT Corporation and Xylem, Wilo SE, Sulzer, Grundfos Holdings, Wanner International, Flowserve enterprise, ABB Group, Grundfos Holding, Sulzar, Colfax Corporation, Regal Beloit, among others are the top companies in the global digital pump market.
With a sizable digital pump market share, these main firms are concentrating on growing their consumer base in new countries. These businesses are making use of strategic collaboration initiatives to grow their market share and profits.
Mid-size and smaller businesses, on the other hand, are expanding their market presence by gaining new contracts and entering new markets, thanks to technical developments and product innovations.
Recent Developments
As of 2021, the market for Digital Pump was valued at US$ 10.6 Billion, as per FMI
By 2022 end, sales of Digital Pump closed at a value of US$ 11.3 Billion
From 2015 to 2021, Digital Pump demand expanded at a CAGR of 6.7%
From 2022 to 2032, Digital Pump sales are expected to flourish at a CAGR of 6.1%
By 2032, the market value of Digital Pump is expected to reach US$ 20.5 Billion.
From 2022 to 2032, Digital Pump demand in the USA is expected to surge at a CAGR of 5.5%
By Connectivity, the Conventional Pump Controller constitutes the bulk of market share with a CAGR of 4.9%.
By Distribution Channel, the Retail category of Digital Pump is expected to dominate the market with a CAGR of 5.6%.
1. Preface | Digital Pump Market
1.1. Market Scope
1.2. Market Segmentation
1.3. Key Research Objectives
2. Assumptions and Research Methodology
2.1. Market Taxonomy - Segment Definitions
2.2. Research Methodology
2.2.1. List of Primary and Secondary Sources
2.3. Key Assumptions for Data Modeling
3. Executive Summary: Global Market
4. Market Overview
4.1. Introduction
4.2. Global Market - Macro Economic Factors Overview
4.2.1. Global ICT Spending (US$ Billion), 2015, 2022, 2032
4.3. Technology/Product Roadmap
4.4. Key Market Indicators
4.4.1. Global Pump Market
4.5. Market Factor Analysis
4.5.1. Porter’s Five Forces Analysis
4.5.2. PESTEL Analysis
4.5.3. Ecosystem Analysis
4.5.4. Market Dynamics (Growth Influencers)
4.5.4.1. Drivers
4.5.4.2. Restraints
4.5.4.3. Opportunities
4.5.4.4. Trends
4.6. Global Market Analysis and Forecast, 2016 to 2032
4.6.1. Market Revenue Analysis (US$ Billion)
4.6.1.1. Historic Growth Trends, 2016 to 2026
4.6.1.2. Forecast Trends, 2016 to 2032
4.6.2. Market Volume Analysis (Thousand Units)
4.6.2.1. Forecast Trends, 2016 to 2032
4.7. Market Attractiveness Analysis - By Region (Global/ North America/ Europe/ Asia Pacific/ Middle East & Africa/ South America)
4.7.1. By Connectivity
4.7.2. By Distribution Channel
4.7.3. By Industry
4.8. Pricing Model Analysis
4.9. Installed Base of Pumps Market, By Region (Thousand Units)
4.9.1. North America
4.9.2. Europe
4.9.3. Asia Pacific
4.9.4. Middle East & Africa
4.9.5. South America
4.10. Analysis of Pumps Market, By Connectivity
4.10.1. Wired/Conventional
4.10.2. Wireless
4.10.2.1. Radio Frequency
4.10.2.2. SMS
4.10.2.3. Remote
4.10.2.4. App
4.10.2.5. Mobile Phone
4.10.2.5.1. Infrared
4.10.2.5.2. Bluetooth
4.10.2.6. SCADA system
4.11. Competitive Scenario and Trends
4.12. Market Outlook
5. Global Market Analysis and Forecast, by Connectivity
5.1. Definitions
5.2. Market Size (US$ Billion) Forecast, by Connectivity, 2016 to 2032
5.2.1. Conventional Pump Controller
5.2.2. Mobile/Remote Pump Controller
6. Global Market Analysis and Forecast, by Distribution Channel
6.1. Definitions
6.2. Market Size (US$ Billion) Forecast, by Distribution Channel, 2016 to 2032
6.2.1. Online
6.2.2. Retail
6.2.2.1. Company-owned
6.2.2.2. Third Party
7. Global Market Analysis and Forecast, By Industry
7.1. Definitions
7.2. Market Size (US$ Billion) Forecast, By Industry, 2016 to 2032
7.2.1. Manufacturing
7.2.1.1. Food & Beverage
7.2.1.2. Pharmaceutical
7.2.1.3. Oil & Gas
7.2.1.4. Textile & Paper
7.2.1.5. Chemicals
7.2.1.6. Biotechnology
7.2.1.7. Construction
7.2.2. Public Sector
7.2.2.1. Water & Wastewater Treatment
7.2.2.2. Pumping Stations
7.2.3. Agriculture
7.2.4. Residential
8. Global Market Analysis and Forecast, by Region
8.1. Key Findings
8.2. Market Size (US$ Billion) Forecast, by Region, 2016 to 2032
8.2.1. North America
8.2.2. Europe
8.2.3. Asia Pacific
8.2.4. Middle East and Africa
8.2.5. South America
9. North America Market Analysis and Forecast
9.1. Key Findings
9.2. Market Size (US$ Billion) Forecast, by Connectivity, 2016 to 2032
9.2.1. Conventional Pump Controller
9.2.2. Mobile/Remote Pump Controller
9.3. Market Size (US$ Billion) Forecast, by Distribution Channel, 2016 to 2032
9.3.1. Online
9.3.2. Retail
9.3.2.1. Company-owned
9.3.2.2. Third Party
9.4. Market Size (US$ Billion) Forecast, By Industry, 2016 to 2032
9.4.1. Manufacturing
9.4.1.1. Food & Beverage
9.4.1.2. Pharmaceutical
9.4.1.3. Oil & Gas
9.4.1.4. Textile & Paper
9.4.1.5. Chemicals
9.4.1.6. Biotechnology
9.4.1.7. Construction
9.4.2. Public Sector
9.4.2.1. Water & Wastewater Treatment
9.4.2.2. Pumping Stations
9.4.3. Agriculture
9.4.4. Residential
9.5. Market Size (US$ Billion) Forecast, by Country & Sub-region, 2016 to 2032
9.5.1. The USA
9.5.2. Canada
9.5.3. Rest of North America
10. Europe Market Analysis and Forecast
10.1. Key Findings
10.2. Market Size (US$ Billion) Forecast, by Connectivity, 2016 to 2032
10.2.1. Conventional Pump Controller
10.2.2. Mobile/Remote Pump Controller
10.3. Market Size (US$ Billion) Forecast, by Distribution Channel, 2016 to 2032
10.3.1. Online
10.3.2. Retail
10.3.2.1. Company-owned
10.3.2.2. Third Party
10.4. Market Size (US$ Billion) Forecast, By Industry, 2016 to 2032
10.4.1. Manufacturing
10.4.1.1. Food & Beverage
10.4.1.2. Pharmaceutical
10.4.1.3. Oil & Gas
10.4.1.4. Textile & Paper
10.4.1.5. Chemicals
10.4.1.6. Biotechnology
10.4.1.7. Construction
10.4.2. Public Sector
10.4.2.1. Water & Wastewater Treatment
10.4.2.2. Pumping Stations
10.4.3. Agriculture
10.4.4. Residential
10.5. Market Size (US$ Billion) Forecast, by Country & Sub-region, 2016 to 2032
10.5.1. Germany
10.5.2. The UK
10.5.3. France
10.5.4. Rest of Europe
11. Asia Pacific Market Analysis and Forecast
11.1. Key Findings
11.2. Market Size (US$ Billion) Forecast, by Connectivity, 2016 to 2032
11.2.1. Conventional Pump Controller
11.2.2. Mobile/Remote Pump Controller
11.3. Market Size (US$ Billion) Forecast, by Distribution Channel, 2016 to 2032
11.3.1. Online
11.3.2. Retail
11.3.2.1. Company-owned
11.3.2.2. Third Party
11.4. Market Size (US$ Billion) Forecast, By Industry, 2016 to 2032
11.4.1. Manufacturing
11.4.1.1. Food & Beverage
11.4.1.2. Pharmaceutical
11.4.1.3. Oil & Gas
11.4.1.4. Textile & Paper
11.4.1.5. Chemicals
11.4.1.6. Biotechnology
11.4.1.7. Construction
11.4.2. Public Sector
11.4.2.1. Water & Wastewater Treatment
11.4.2.2. Pumping Stations
11.4.3. Agriculture
11.4.4. Residential
11.5. Market Size (US$ Billion) Forecast, by Country & Sub-region, 2016 to 2032
11.5.1. China
11.5.2. India
11.5.3. Japan
11.5.4. Rest of Asia Pacific
12. Middle East and Africa (MEA) Market Analysis and Forecast
12.1. Key Findings
12.2. Market Size (US$ Billion) Forecast, by Connectivity, 2016 to 2032
12.2.1. Conventional Pump Controller
12.2.2. Mobile/Remote Pump Controller
12.3. Market Size (US$ Billion) Forecast, by Distribution Channel, 2016 to 2032
12.3.1. Online
12.3.2. Retail
12.3.2.1. Company-owned
12.3.2.2. Third Party
12.4. Market Size (US$ Billion) Forecast, By Industry, 2016 to 2032
12.4.1. Manufacturing
12.4.1.1. Food & Beverage
12.4.1.2. Pharmaceutical
12.4.1.3. Oil & Gas
12.4.1.4. Textile & Paper
12.4.1.5. Chemicals
12.4.1.6. Biotechnology
12.4.1.7. Construction
12.4.2. Public Sector
12.4.2.1. Water & Wastewater Treatment
12.4.2.2. Pumping Stations
12.4.3. Agriculture
12.4.4. Residential
12.5. Market Size (US$ Billion) Forecast, by Country & Sub-region, 2016 to 2032
12.5.1. GCC Countries
12.5.2. South Africa
12.5.3. Rest of MEA
13. South America Market Analysis and Forecast
13.1. Key Findings
13.2. Market Size (US$ Billion) Forecast, by Connectivity, 2016 to 2032
13.2.1. Conventional Pump Controller
13.2.2. Mobile/Remote Pump Controller
13.3. Market Size (US$ Billion) Forecast, by Distribution Channel, 2016 to 2032
13.3.1. Online
13.3.2. Retail
13.3.2.1. Company-owned
13.3.2.2. Third Party
13.4. Market Size (US$ Billion) Forecast, By Industry, 2016 to 2032
13.4.1. Manufacturing
13.4.1.1. Food & Beverage
13.4.1.2. Pharmaceutical
13.4.1.3. Oil & Gas
13.4.1.4. Textile & Paper
13.4.1.5. Chemicals
13.4.1.6. Biotechnology
13.4.1.7. Construction
13.4.2. Public Sector
13.4.2.1. Water & Wastewater Treatment
13.4.2.2. Pumping Stations
13.4.3. Agriculture
13.4.4. Residential
13.5. Market Size (US$ Billion) Forecast, by Country & Sub-region, 2016 to 2032
13.5.1. Brazil
13.5.2. Rest of South America
14. Competition Landscape
14.1. Market Revenue Share Analysis (%), by Company (2021)
14.2. Regional Presence (Intensity Map)
15. Company Profiles (Details = Business Overview, Sales Area/Geographical Presence, Revenue, and Strategy)
15.1. C&S Electric Limited
15.1.1. Business Overview
15.1.2. Sales Area/Geographical Revenue
15.1.3. Business Strategy
15.2. Dwyer Instruments, Inc.
15.2.1. Business Overview
15.2.2. Sales Area/Geographical Revenue
15.2.3. Business Strategy
15.3. Grundfos
15.3.1. Business Overview
15.3.2. Sales Area/Geographical Revenue
15.3.3. Business Strategy
15.4. Kirloskar Brothers Limited
15.4.1. Business Overview
15.4.2. Sales Area/Geographical Revenue
15.4.3. Business Strategy
15.5. Precision Digital Corporation
15.5.1. Business Overview
15.5.2. Sales Area/Geographical Revenue
15.5.3. Business Strategy
15.6. Remote Control Technology
15.6.1. Business Overview
15.6.2. Sales Area/Geographical Revenue
15.6.3. Business Strategy
15.7. Spring (Europe) Ltd.
15.7.1. Business Overview
15.7.2. Sales Area/Geographical Revenue
15.7.3. Business Strategy
15.8. Sulzer Ltd
15.8.1. Business Overview
15.8.2. Sales Area/Geographical Revenue
15.8.3. Business Strategy
15.9. Valmont Industries, Inc.(Vally)
15.9.1. Business Overview
15.9.2. Sales Area/Geographical Revenue
15.9.3. Business Strategy
15.10. Xylem Inc.
15.10.1. Business Overview
15.10.2. Sales Area/Geographical Revenue
15.10.3. Business Strategy
16. Key Takeaways
Explore Industrial Automation Insights
View Reports
Digital Pump Market
