Smart Pumps Market 2022 – Current Scenario on Growth Analysis with Key Industry Players
Global Smart Pumps Market Size was valued at USD 1 Billion in 2021 and is projected to reach USD 2.1 Billion by 2031, growing at a CAGR of 7.3% from 2022 to 2031
PORTLAND, USA, September 30, 2022 /EINPresswire.com/ — Smart pumps incorporate advanced technologies to provide advanced features, such as automatic variation of speed and flow pressure head. Smart pumps can also be monitored and controlled remotely.
The global smart pump market The size was valued at $1 billion in 2021 and is expected to reach $2.1 billion by 2031, growing at a CAGR of 7.3% from 2022 to 2031.
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The research provides a detailed analysis of drivers, restraints, and opportunities in the global smart pump market. This insight provides the guidance needed to determine driving factors and implement strategies to achieve sustainable growth and exploit opportunities to explore market potential.
Impact of Covid-19:
• Smart pump manufacturing activities have been halted due to the implementation of the global lockdown.
• In addition, supply chain disruptions, labor shortages and unavailability of raw materials have created difficulties in carrying out manufacturing at full capacity.
• Several construction activities have been delayed to maintain social distancing standards.
• Demand from end-use industries has declined significantly due to the shutdown of day-to-day operations in 2020. However, demand would steadily increase during post-lockdown as day-to-day operations resume.
• The ban on import-export activities has led to supply chain disruption and a gap between supply and demand. As restrictions are lifted, the supply chain will be restored.
Market analysis by analysts:
Type of industry
Water and wastewater
Oil and gas
Grundfos Holding A/S, Ingersoll Rand Inc., ABB, All Pump Solutions, Armstrong Fluid Technology, Circor International, Inc., Flowserve Corporation, ITT Inc., Ketek Group, Kirloskar Brothers Limited (India), KSB SE & Co. KGaA , Sulzer Ltd., Unico LLC., Wanner International Ltd. (Hydra-Cell), Wilo SE, Xylem Inc., Yaskawa Electric Corporation
Major market players analyzed in the report include The report provides a detailed analysis of these major market players. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements and others to increase their market share and maintain dominant shares in different regions. The report is valuable for highlighting the business performance, operating segments, product portfolio, and strategic moves of market players to present the competitive scenario.
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Main benefits for stakeholders:
• This report offers a quantitative analysis of market segments, current trends, estimates and dynamics of the Smart Pump Market analysis from 2021 to 2031 to identify current opportunities in the Smart Pump market.
• Market research is offered with information related to key drivers, restraints and opportunities.
• Porter’s Five Forces analysis highlights the ability of buyers and suppliers to enable stakeholders to make profit-driven business decisions and strengthen their supplier-buyer network.
• In-depth analysis of Smart Pump market segmentation helps in determining the existing market opportunities.
• Major countries in each region are mapped according to their contribution to global market revenue.
• Positioning of market players facilitates benchmarking and provides a clear understanding of the current position of market players.
• The report includes analysis of regional and global smart pumps market trends, key players, market segments, application areas and market growth strategies.