The global industrial pump control panels market size is expected to cross a valuation of USD 1.6 billion in 2023. It is anticipated to surpass a valuation of around USD 2.6 billion by 2033.
The market for industrial pump control panels is projected to create an incremental opportunity of USD 1 billion in the review period 2023 to 2033. It is set to record a decent CAGR of around 4.9% in the same time frame.
Several sectors are projected to rapidly utilize automation technologies to reduce human error, lower manual intervention, and refine operational efficiency. Pump control panels might play a significant role in automating the monitoring and operation of pumps. They might also allow sectors to optimize their processes and save energy.
Modern pump control panels provide remote monitoring and control features rather frequently. This is especially useful when pumps are situated in inhospitable or dangerous settings. Remote monitoring and control of pumps might improve safety, lower maintenance costs, and enable rapid problem-solving.
Predictive maintenance might also be made possible by the incorporation of detectors and data processing in pump control panels. Companies are set to identify prospective failures or maintenance requirements by examining pump data before they develop into breakdowns. This anticipatory strategy would help to lower maintenance expenses and downtime.
In water distribution systems and wastewater treatment facilities, pump control panels are frequently utilized. A greater need for effective and trustworthy water management systems is emerging across the globe.
It is attributed to the ongoing development of urbanization and emergence of strict environmental restrictions. Pump control panels might aid in ensuring correct waste disposal, water treatment, and distribution.
Businesses are putting more effort into lowering energy use and environmental impact. Pump control panels might help in improving pump operation.
It is set to modify flow rates and speed in response to demand in real time. This energy-efficient strategy is expected to reduce costs while supporting sustainability objectives.
Diverse pump control strategies are needed for several sectors and applications. Modern control panels might provide the freedom to tailor pump operations to particular needs of each process. They are hence projected to be appropriate for a wide range of sectors due to their versatility.
Oil & gas, agriculture, and mining are a handful of sectors that are rapidly expanding. Pumps are expected to be used in these sectors for several tasks, including material handling, cooling, and fluid transportation. Need for effective pump control systems might hence grow by 2033 as these sectors develop.
Construction and other infrastructure projects need effective water management systems. Pump control panels are likely to be crucial parts of these systems as they might help infrastructure development projects succeed.
| Attributes | Key Insights |
|---|---|
| Industrial Pump Control Panels Market Estimated Size (2023E) | USD 1.6 billion |
| Projected Market Valuation (2033F) | USD 2.6 billion |
| Value-based CAGR (2023 to 2033) | 4.9% |
| United States Value-based CAGR (2023 to 2033) | 4.9% |
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The global industrial pump control panels market is likely to witness a CAGR of 4.9% in the assessment period. It recorded a CAGR of 5.7% in the historical period between 2018 and 2022.
Demand for intelligent and interconnected systems is set to be driven by growing digital evolution of sectors worldwide. Industrial pump control panels are projected to develop to become a component of broader digital ecosystems. These might enable seamless connection with other operational and surveillance systems.
Environments that are harsh and difficult are present in several industrial applications, including mining, chemical processing, and oil & gas. It is further projected to push the need for safe and efficient operations. Hence, key players might develop new panels that can endure harsh temperatures, abrasive chemicals, and other challenging circumstances.
Companies are being compelled to embrace cutting-edge control and monitoring technology by strict laws relating to security, quality of life, and energy efficiency. Manufacturers might supply control panels with built-in security measures. Development of novel products with data recording features is also expected to meet these compliance standards.
Businesses are also making investments in effective water management strategies as water shortage becomes a global issue. Pump control panels are considered essential for streamlining water distribution and use.
Water shortages affect about two to three billion individuals worldwide. If international collaboration in this field is not increased, UNESCO and UN-Water warn that these shortages will get worse over the next several decades, especially in cities.
Urban inhabitants who lack access to clean water are predicted to triple in number by 2050, from 930 million to 1.7 to 2.4 billion. Extreme and long-lasting droughts are growing more prevalent, thereby pressuring habitats and harming both plant and animal species equally. Industrial pump control panel demand is expected to rise to curb water scarcity.
Principal Consultant
Japan industrial pump control panels market is projected to expand at a CAGR of 4.9% in the forecast period from 2023 to 2033. It is likely to exceed a valuation of USD 494.3 million by 2033.
Japan's infrastructure, which includes water distribution systems, sanitation facilities, and industrial facilities, is significantly aging. Sophisticated pump control panels are in high demand since these systems must be modernized and upgraded to ensure their dependability & effectiveness.
Natural catastrophes including typhoons, tsunamis, and earthquakes are common in Japan. Strong pump control panels are expected to be crucial for handling water resources in emergencies. At the same time, they might help in providing sufficient water supply, irrigation, and rescue efforts.
As per the Asian Disaster Reduction Center (ADRC), the past thirty years (1991 to 2020) have seen a considerable increase in the frequency of natural disasters. Asia and the rest of the world both witnessed this rising tendency. About 436 disasters occurred in total in 2021, exceeding the average of 376 per year over the previous 30 years.
Japan has challenges with water scarcity in diverse areas. Modern control panels that are effective at controlling water pumps might help to maximize water distribution. They can also aid in cutting down on waste, as well as ensuring sustainable consumption.
In several processes, Japan's robust precision manufacturing sector needs exact fluid control. Pump control panels are hence considered essential for guaranteeing precise fluid flow. It is set to be in line with the nation's emphasis on quality and accuracy.
Urban areas in Japan are also concentrating more on developing into smart cities that use digital technologies for better urban administration. These smart city ideas might involve pump control panels with IoT capability.
South Korea industrial pump control panels market is anticipated to create an absolute dollar opportunity of USD 52.5 million in the evaluation period. It registered a CAGR of 5.1% in the historical period.
Adoption of industry 4.0 and call for automated production in South Korea are expected to propel the demand for sophisticated automation systems. The nation is set to be one of the most prominent manufacturers of semiconductors in the world. In order to ensure precise fluid management throughout semiconductor production processes, pump control panels are essential.
Effective pump systems are further necessary for damage control, water flow, and waste treatment aboard ships and offshore platforms. Hence, industrial pump control panel sales are estimated to rise in South Korea's shipbuilding and maritime sectors.
Management of flow of water in hydroelectric power facilities might also contribute to South Korea's resource mix. It is expected to boost the need for pump control panels.
Due to the nation's dense population, effective water distribution and sanitation systems are required. This is, in turn, is expected to propel the demand for robust pump control solutions.
Government initiatives promoting industrial automation and energy saving might also encourage businesses to use sophisticated pump control panels. Focus on quality and accuracy in South Korea might further expand the requirement for durable pump control panels that guarantee efficient operations.
In June 2023, at the Apple Manufacturing R&D Support Center in South Korea, Apple launched the initial Smart Manufacturing Forum for SMBs event. It's not just a center for teaching and research.
It might also develop machinery connected to smart processes that can be used throughout Apple's supply chain. The unique occasion highlights the business's emphasis on industry 4.0, which is at the center of its Asia Pacific production network in South Korea.
In terms of type, the single phase power segment is estimated to showcase a CAGR of 4.8% in the assessment period. It exhibited a CAGR of 5.5% in the historical period. The segment is likely to account for a considerable industrial pump control panels market share by 2033.
Single-phase power is frequently used by residential solar power systems. Hence, it is likely to be a popular option for homeowners implementing renewable energy solutions.
Localized energy generation is a leading trend worldwide. Dispersed energy sources including solar cells and wind turbines frequently generate power in single-phase. Since several electric vehicles (EVs) only require overnight charge, residential EV charging stations often use single-phase power.
Proliferation of connected homes and IoT gadgets frequently demands less power than conventional three-phase systems. Single-phase systems are better suited for these applications, which is projected to aid demand.
According to RubyHome, a luxury real estate company, in the United States, there are 63.43 million active smart home users. Seven out of ten purchasers are specifically looking for smart homes. A smart home would be more expensive, according to 78% of prospective purchasers.
Building microgrids, which improve energy stability among neighborhoods during power outages, can be useful when using single-phase power. In rural and agricultural settings, single-phase power is frequently utilized in pumps for irrigation and farm equipment. These connections are expected to be frequently used by small companies and start-ups with modest energy consumption.
The water & wastewater segment in terms of end use is projected to dominate the industrial pump control panels market. It is likely to surge at a CAGR of 4.7% in the forecast period. It expanded at a CAGR of 5.4% in the historical period.
Need for a reliable supply of clean water and effective wastewater treatment might surge amid rapid population growth. Pump control panels are hence necessary for preserving dependable water infrastructure even in the face of rising demand.
The World Bank mentioned that when summer arrives, water in India becomes a precious commodity on par with gold. The nation is one of the most water-stressed in the entire world as it only possesses 4% of the world's water resources compared to its 18% population.
The Atal Bhujal Yojana, the government's national groundwater initiative, is supported by the World Bank to help with groundwater management. This is the most prominent community-led groundwater management initiative ever. It has been implemented in 8,220 gram panchayats throughout seven states in India.
Intelligent pump control panels are required owing to the introduction of advanced water management technologies such as IoT-enabled sensors. These might permit remote administration and data-driven decision-making.
Precision control of treatment procedures is also required given the tendency toward the reuse of wastewater for non-potable uses. Pump control panels are expected to guarantee that reclaimed water is treated and distributed properly.
Aeration, purification, and sterilization are a handful of the techniques used in the treatment of water and wastewater. Control panels might give one the freedom needed to properly handle each of these tasks.
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Industrial pump control panel manufacturers are focusing on creating and integrating innovative technologies into their in-house products. They are including features such as energy efficiency enhancements, internet of things (IoT), predictive maintenance, remote monitoring, and data analytics to stay competitive.
They are also delivering customizable solutions that cater to specific needs of different sectors or applications. They are providing options to configure control panels to match unique requirements of their customers.
A handful of other players are prioritizing energy-saving features, as well as supporting the environmental benefits of their products. This would help to attract environmentally conscious customers worldwide. Energy-efficient control panels that enhance pump operations for lower energy consumption can be a strong selling point.
They are further keeping a close watch on market trends, customer preferences, and emerging technologies to stay ahead of the competition. They are adapting products to cater to several market demands, which can be a competitive advantage.
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| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 1.6 billion |
| Projected Market Valuation (2033) | USD 2.6 billion |
| Value-based CAGR (2023 to 2033) | 4.9% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value (USD billion) |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, Russia, GCC Countries, India, China, Japan, and Australia |
| Key Segments Covered | Type, End Use, Region |
| Key Companies Profiled | Emerson Electric Company; Grundfos Holding A/S; Harper Control Solutions, Inc.; Rockwell Automation, Inc.; See Water, Inc. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The market is estimated to reach USD 1.6 billion in 2023.
Harper Control Solutions, Inc., Rockwell Automation, Inc., and See Water, Inc. are key market players.
The market is estimated to secure a valuation of USD 2.6 billion by 2033.
The growth potential of this market is 4.9% CAGR through 2033.
Demand for intelligent and interconnected systems drives sales.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Single Phase Power 5.2. Three Phase Power 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 6.1. Water & Wastewater 6.2. Chemicals & Petrochemicals 6.3. Oil & Gas 6.4. Mining 6.5. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Emerson Electric Company 17.2. Grundfos Holding A/S 17.3. Harper Control Solutions, Inc. 17.4. Rockwell Automation, Inc. 17.5. See Water, Inc. 17.6. Siemens AG 17.7. Wastech Controls & Engineering, Inc. 17.8. Xylem, Inc. 17.9. Zoeller Company 17.10. Schneider Electric 18. Assumptions & Acronyms Used 19. Research Methodology
Industrial Automation
August 2023
REP-GB-6972
333 pages
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Industrial Pump Control Panels Market
