Major Strategies Adopted by the Players Include Contracts & Agreements, New Product Launch, Expansion, and Mergers & Acquisitions. New product Launch in the Intelligent Pump Market
The global intelligent pump market is projected to grow at a CAGR of 7.5% from 2016 to 2021. Europe is estimated to be the largest market, followed by North America. This trend is expected to continue till 2021. The growth of the intelligent pump market is driven by strict energy-efficiency standards in developed nation, growth in Industrial Internet of Things (IIoT) and economic benefits of intelligent systems, focus on smart water & wastewater systems, increase in power generation capacities across the globe, and significant investments in non-oil & gas sectors in the Middle East and North Africa (MENA).
The intelligent pump market is dominated by a few global players. Key players operating in the market are Xylem, Inc. (U.S.), ITT Corporation (U.S.), Grundfos Holding A/S (Denmark), Sulzer Ltd. (Switzerland), and Flowserve Corporation (U.S.).
Major strategies adopted by the players include contracts & agreements, new product launch, expansion, and mergers & acquisitions. New product launch was the most commonly adopted strategy from 2013 to 2016. Industry players also adopted contracts & agreements, which was the second most widely followed strategy, during the same period.
Grundfos Holding A/S (Grundfos) is one among the leading pump manufactures in the world. Its product portfolio covers circulator pumps, centrifugal pumps, submersible motors, and intelligent pump & associated accessories. Its offerings find applications in residential & commercial buildings, HVAC OEMs, irrigation & agriculture, and water supply & sewage sectors, among others. The company is represented by more than 80 companies in more than 55 countries. In May 2013, Grundfos opened a new production plant in Indjija, Serbia for manufacturing of pumps and associated equipment to cater the growing demand for pumps in the Central and Eastern European market.
Xylem, Inc. (Xylem) is engaged in designing and manufacturing of highly engineered technologies for the water industry. Its products & services portfolio covers analytical instruments, controllers, pumps & accessories, and water & waste water treatment solutions. It has two reportable business segments, namely, water infrastructure and applied water. The water infrastructure segment comprises three subsegments, namely, transport, treatment, and test. The applied water segment comprises three subsegments, namely, building services, industrial water, and irrigation. It offers intelligent pump systems under the transport division of the water infrastructure business segment and through its Flygt, Goulds Water Technology, Bell & Gossett, and Godwin brands. The company serves a number of industries including agricultural, aquaculture, construction, environmental, food & beverage, government agencies, industrial, mining, oil & gas, public utilities, and residential & commercial building services. It sells its products in more than 150 countries.
Related Reports:
Intelligent Pump Market by Pump Type (Centrifugal & Positive Displacement), Component (Pumps, Variable Drives, & Control Systems), End-User (Building Automation, Water & Wastewater, Oil & Gas, Chemicals, & Power Generation) - Global Forecast to 2021
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