LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global intelligent pump and control systems market is expected to grow at a CAGR of almost 8% during the forecast period.
This research report titled ‘Global Intelligent Pump and Control Systems Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The demand for intelligent pumps and control systems is expected to increase during the forecast period due to energy efficiency benefits offered by them. Stringent government concerns about the utilization of equipment that consumes less energy and does not give rise to environmental pollution have led to the high adoption rate of intelligent pumps. The use of control systems helps in the prior detection of faults which, in turn, facilitates the maintenance of a safe environment for workers within industries.
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Technavio’s industrial automation research analysts categorize the global intelligent pump and control systems market into the following segments by end-user. They are:
- Water and wastewater industry
- Oil and gas industry
- Chemical and petrochemical industry
- Power industry
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The top three end-user segments of the global intelligent pump and control systems market are discussed below:
Water and wastewater industry
Control systems used in intelligent pumps offer a distinct feature of keeping track of the performance level while carrying out water treatment applications. Features such as intelligent pump control, input-output instrumentation, and high reliability with real-time calculation capabilities make intelligent pumps highly capable of cleaning water in the water and wastewater industry.
According to Bharath Kanniappan, a lead automation research analyst from Technavio, “Variable speed drives that are installed on intelligent pumps reduce energy consumption and improve process control. Retrofit projects carried out for drives to incorporate advanced variable speed drives will enhance the performance of intelligent pumps and control systems. That is, manufacturers can easily replace the traditional analog drive technology with a maintenance-free digital control system.”
Oil and gas industry
In the oil and gas industry, the adoption of intelligent pumps takes place in onshore and offshore applications. In onshore applications, hydraulic fracturing technique and directional drilling need strong pumps to drill oil and gas from underground wells. Offshore applications involve extracting desired components from fluids collected by drilling.
“The constantly upgrading intelligent pumping solutions leverage the advantage of real-time monitoring and constant optimization feature in carrying out oil and gas industrial applications. Deeper well applications are made easy with these intelligent pumps, and the information is collected accurately from all the control systems. Variable pumps drive and control the speed of the motor, read the instrumentation, and host communication between the pump and the equipment,” adds Bharath.
Chemical and petrochemical industry
The chemical and petrochemical industry use intelligent pumps for corrosive, hot, abrasive liquids and pumping the widest range of chemical and petrochemical liquids containing solids. The ability to sustain high-pressure flow and efficiently handle undissolved liquids and solids makes intelligent pumps highly applicable for the chemical and petrochemical industry. Applications such as high-pressure spray cleaning and hot recycled liquid require enormous pressure for completion. With the use of intelligent pumps and control systems, it becomes easy to provide smoothness to such harsh operations.
Intelligent pumps are highly space saving. Also, different versions of intelligent pumps available in the market help in lowering the purchasing cost for companies. This makes intelligent pumps and control systems highly affordable for the chemical and petrochemical industry.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Rockwell Automation
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