Digital Pump Market Size, Key Factors, Major Players, Growth Strategies, Trends, Forecast Till 2032

[Latest Market Trends]

The digital pump market is envisioning a substantial Compound Annual Growth Rate (CAGR) of 6.1% from 2022 to 2032. This upward momentum is set to elevate the market to remarkable heights, projecting a valuation of US$ 20.5 billion by 2032, marking a significant increase from its 2022 valuation of US$ 11.3 billion.

At the heart of this surge in the digital pump market lies their versatile utility, particularly in terms of energy savings and cost efficiency. These innovative pumps find applications across a diverse spectrum of sectors, including buildings, water treatment plants, boiler control systems, and automation. Their remarkable ability to optimize and streamline fluid management processes emerges as a pivotal factor driving market growth.

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These pumps not only conserve energy and reduce costs but also find applications in various sectors such as construction, water treatment facilities, boiler control systems, and automation, contributing significantly to the market's expansion. Additionally, the acceleration of market growth is attributed to several other factors, including stringent energy-efficiency regulations in developed nations, the rise of the Industrial Internet of Things (IIoT), and the economic advantages associated with intelligent systems, particularly in the context of smart water and wastewater management.

Moreover, the increasing global capacity for power generation and substantial investments in non-oil and gas sectors within the Middle East and North Africa (MENA) region are poised to further bolster the growth of the digital pump market throughout the analysis period.

Notable Insights from the Market Analysis:

The global digital pump market reached a valuation of US$ 11.3 Billion by the end of 2022.
The United States is anticipated to lead the market demand, accounting for the highest value share of US$ 5.5 Billion in 2032.
The period from 2015 to 2021 witnessed a considerable expansion in Digital Pump demand, marked by a Compound Annual Growth Rate (CAGR) of 6.7%.
Among different connectivity options, the conventional pump controller dominates the digital pump market, exhibiting a CAGR of 4.9%.
"Remarkably, digital pumps offer energy and cost savings while finding applications in building infrastructure, water treatment facilities, boiler control systems, and automation. This vital aspect drives the growth of the market," comments an analyst from FMI.

Competitive Scenario:

Key players in the global Digital Pump Market are strategically expanding their global footprint through a variety of tactics, including collaborations, partnerships, and alliances. These industry participants are also making substantial investments in research and development (R&D) to infuse innovation into their products, thereby reinforcing their market position.

Notable recent developments among major players include:

In August 2021, Regal Beloit Corporation, a leading global manufacturer and engineering solutions provider for power transmission, introduced the Century VGreen Evo pool pump motor to its product lineup. This new motor, driven by advanced variable speed technology, stands as one of the most energy-efficient pool pump motors available in the market.
In March 2020, Framo and Aker BP announced a smart pump maintenance contract for seawater lift pumps in the Norwegian Continental Shelf. The six-year contract extension is a continuation of a pilot contract initiated in 2018 involving pump supplier Framo, production company Aker BP, and industrial AI Software as a Service (SaaS).
Key Players:

ITT Corporation
Xylem
KSB Aktiengesellschaft
Flowserve Corporation
Wilo SE
ABB
Grundfos Holding
Sulzar
Colfax Corporation
Regal Beloit
Wanner International
Kirloskar
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Key Segments Covered:

Digital Pump by Connectivity:

Conventional Digital Pump Controller
Mobile/Remote Digital Pump Controller
Digital Pump by Distribution Channel:

Online Digital Pump Sales
Retail Digital Pump Sales
Company Owned
Third-Party
Digital Pump by Industry:

Digital Pump for Manufacturing
Food and Beverage
Pharmaceutical
Oil & Gas
Textile and Paper
Chemicals
Biotechnology
Construction
Digital Pumps for the Public Sector
Water and Wastewater Treatment
Pumping Stations
Digital Pumps for Agriculture
Digital Pumps for Residential Use
Digital Pump by Region:

North America Digital Pump Market
South America Digital Pump Market
Europe Digital Pump Market
Asia Pacific Digital Pump Market
Middle East and Africa Digital Pump Market
Read More: https://www.futuremarketinsights.com/reports/digital-pump-market