European Intelligent Pumps and Controllers Market—Driving Smart Revolution, Forecast to 2024

European Intelligent Pumps and Controllers Market—Driving Smart Revolution, Forecast to 2024

Advanced Features and Increasing Customer Demands Have Pushed Intelligent Pumps to Evolve Into Smart Pumps

RELEASE DATE
28-Nov-2018
REGION
Europe
Research Code: MDA7-01-00-00-00
SKU: IA01492-EU-MR_22600

$4,950.00

Special Price $3,712.50 save 25 %

In stock
SKU
IA01492-EU-MR_22600

$4,950.00

$3,712.50 save 25 %

DownloadLink

Pay by invoice

ENQUIRE NOW

Description

This study dives into the benefits of Industrial Internet of Things (IIoT) technology incorporated into pumps. Intelligent pumps started off with integrating Variable Frequency Drives (VFDs) and controllers to pumps in order to conserve energy, monitor the performance, control the speed, and measure a few parameters by adding sensors to the equipment. However, its capability is quite limited. With increased customer demand to include advanced capabilities that could translate normal data into more meaningful action, intelligent pumps are in the process of evolving into smart pumps. With IIoT, advanced features as such predictive maintenance, remote monitoring, digital twin technology, artificial intelligence and Virtual Reality (VR)/Augmented Reality (AR) end users will be able to greatly benefit in the next decade. The impact of smart pumps in end-user industries such water and wastewater, Oil and Gas (O&G), chemicals, pharmaceuticals, building services, and food and beverage have been discussed. Perspectives from major participants have also been included in this study.

To understand the present scenario in the pumps market, it becomes necessary to know about the transformation of end-user industries. Lack of investment for new projects, especially in O&G, mining, and other commodity sectors, where prices have reached the rock bottom in the last 5 years or so, has had a huge impact on the pumps’ business revenue. Capital investments have come down due to economic downturn. End-user companies do not want to purchase new equipment; instead they work towards maintaining their existing assets. They aim at improving the reliability of the existing infrastructure. Now-a-days, consumers are more conscious about OPEX savings and so there is an increased demand for higher efficiency, process optimisation, energy conservation, higher output, and reduced downtime. As mentioned earlier, for a plant operator to improve the profitability, it is important to reduce the fixed cost as much as possible. By maintaining existing equipment in its proper condition and by utilising the assets to their maximum potential, it is possible to improve the productivity and energy efficiency. Energy consumption attributes to a major proportion of fixed cost and reducing it can lead to abundant savings for plant operators. It is important for pump manufacturers to follow an innovative and unique approach to this challenge.

OEMs can deploy IIoT technology in their design for reducing energy consumption. Historic data collected from the sensors, equipment, and other assets are stored in a network database called ‘cloud’. This data is extremely crucial for making business decisions, planning for higher productivity, and predictive maintenance and should be accessible at any point of time. Data obtained from sensors installed on the pumps, during several operating conditions are stored in cloud-based systems and will help the operator in learning the pumps functionality, by observing the trend. From the in-depth knowledge gained, the operating conditions can be tweaked to improve the efficiency of the pumps. With connected plants, supply chains that are located in various regions can be linked together on a common platform through protocol interoperability. This improves transparency and visibility within an organisation, making it easy for a manager to plan efficiently. With connected plants , remote operations are also possible with AR/VR and digital twin technologies, reducing the need for plant operators and experts to travel to hazardous and remote locations.

It is no more a challenge to gather information from sensors. The real problem lies in storing this huge volume of data and deriving meaningful information from it. It is not possible to document all the data gathered over several years and the cloud can be extremely helpful for this purpose. By analysing the stored information over a period of time, the operator can also predict potential issues and suggest predictive maintenance to plant operators that will reduce unplanned downtime when the equipment is performing crucial operations. Software applications are built for the purpose of analysis and according to Frost & Sullivan’s research, more mergers and acquisitions resulting in collaborative operations between pump manufacturers with the IT sector are expected during the forecast period.

Table of Contents

Key Findings

Market Engineering Measurements

CEO’s Perspective

Evolution of the Pumps Market—Business Model

Market Overview—Features of Intelligent Pumps and Controllers

Definition of Smart, Intelligent Pumps, Controllers and VFDs and Scope of the Study

Market Overview—Vertical Definitions

Market Overview—Geographic Scope

Market Overview—Product and Vertical Market Categories

Market Overview—Product Segmentation

Drivers and Restraints

Market Drivers

Market Restraints

Case Study 1—Emotron’s Controller in a Swedish Wastewater Plant

Case Study 2—Xylem’s System in an Italian Wastewater Plant

Case Study 3—Armstrong’s Pumping System in UK’s BS Project

Challenges Related to Adopting IIoT in the Pumps Market

Business Factors Driving Industry 4.0/IIoT Adoption

Most Important Benefits of IIoT and Changes Made by Companies to Align Themselves to IIoT

Market Engineering Measurements

Revenue Forecast

Communication Protocols

Voice of Market Participants on Protocols and Applications of Smart Pumps in Various Industries

Factors Considered for Not Choosing a Protocol Standard

Innovation Index

Competitive Analysis—Market Share

Market Share Analysis

Competitive Environment

Growth Opportunity—Aftermarket Sales

Strategic Imperatives for Success and Growth—Future Trend

Evolution of the Digital Twin Technology

The Last Word—3 Big Predictions

Legal Disclaimer

Market Overview—Abbreviations

Market Engineering Methodology

Partial List of Companies Interviewed

List of Companies in “Others”

List of Exhibits

List of Figures
  • 1. Total Intelligent Pumps and Controllers Market: Key Market Drivers, Europe, 2018–2024
  • 2. Total Intelligent Pumps and Controllers Market: Key Market Restraints, Europe, 2018–2024
  • 3. Total Intelligent Pumps and Controllers Market: Market Engineering Measurements, Europe, 2017
  • 4. Total Intelligent Pumps and Controllers Market: Company Market Share Analysis of Top 7 Participants, Europe, 2017
  • 5. Total Intelligent Pumps and Controllers Market: Competitive Structure, Europe, 2017
List of Charts
  • 1. Total Intelligent Pumps and Controllers Market: Market Engineering Measurements, Europe, 2017
  • 2. Total Intelligent Pumps and Controllers Market: Segmentation by Product and Vertical Market, Europe, 2017
  • 3. Total Intelligent Pumps and Controllers Market: Percent Revenue Breakdown, Europe, 2017
  • 4. Total Intelligent Pumps and Controllers Market: Key Market Drivers and Restraints, Europe, 2018–2024
  • 5. Percentage of Companies That Experienced a Cybersecurity Attack, Europe, 2016–2017
  • 6. Total Intelligent Pumps and Controllers Market: Challenges Related to Adopting IIoT in Pumps Market, Europe, 2017–2024
  • 7. Total Intelligent Pumps and Controllers Market: Factors Driving Adoption of Industry 4.0, Europe, 2017–2024
  • 8. Total Intelligent Pumps and Controllers Market: Revenue Forecast, Europe, 2016–2024
  • 9. Total Intelligent Pumps and Controllers Market: Factors for not Choosing a Protocol Standard, Europe, 2017
  • 10. Total Intelligent Pumps and Controllers Market: Innovation Index, Europe, 2017
  • 11. Total Intelligent Pumps and Controllers Market: Market Share, Europe, 2017
  • 12. Total Intelligent Pumps and Controllers Market: Roadmap of the Digital Twin Technology, Europe, 2017
Related Research
This study dives into the benefits of Industrial Internet of Things (IIoT) technology incorporated into pumps. Intelligent pumps started off with integrating Variable Frequency Drives (VFDs) and controllers to pumps in order to conserve energy, monitor the performance, control the speed, and measure a few parameters by adding sensors to the equipment. However, its capability is quite limited. With increased customer demand to include advanced capabilities that could translate normal data into more meaningful action, intelligent pumps are in the process of evolving into smart pumps. With IIoT, advanced features as such predictive maintenance, remote monitoring, digital twin technology, artificial intelligence and Virtual Reality (VR)/Augmented Reality (AR) end users will be able to greatly benefit in the next decade. The impact of smart pumps in end-user industries such water and wastewater, Oil and Gas (O&G), chemicals, pharmaceuticals, building services, and food and beverage have been discussed. Perspectives from major participants have also been included in this study. To understand the present scenario in the pumps market, it becomes necessary to know about the transformation of end-user industries. Lack of investment for new projects, especially in O&G, mining, and other commodity sectors, where prices have reached the rock bottom in the last 5 years or so, has had a huge impact on the pumps’ business revenue. Capital investments have come down due to economic downturn. End-user companies do not want to purchase new equipment; instead they work towards maintaining their existing assets. They aim at improving the reliability of the existing infrastructure. Now-a-days, consumers are more conscious about OPEX savings and so there is an increased demand for higher efficiency, process optimisation, energy conservation, higher output, and reduced downtime. As mentioned earlier, for a plant operator to improve the profitability, it is important to reduce the fixed co
More Information
No Index No
Podcast No
Table of Contents | Executive Summary~ || Key Findings~ || Market Engineering Measurements~ || CEO’s Perspective~ | Market Overview~ || Evolution of the Pumps Market—Business Model~ || Market Overview—Features of Intelligent Pumps and Controllers~ || Definition of Smart, Intelligent Pumps, Controllers and VFDs and Scope of the Study~ || Market Overview—Vertical Definitions~ || Market Overview—Geographic Scope~ || Market Overview—Product and Vertical Market Categories~ || Market Overview—Product Segmentation~ | Drivers and Restraints—Total Intelligent Pumps and Controllers Market~ || Drivers and Restraints~ || Market Drivers~ || Market Restraints~ | Case Studies~ || Case Study 1—Emotron’s Controller in a Swedish Wastewater Plant~ || Case Study 2—Xylem’s System in an Italian Wastewater Plant~ || Case Study 3—Armstrong’s Pumping System in UK’s BS Project~ | Industrial Internet of Things (IIoT) in the Pumps Market~ || Challenges Related to Adopting IIoT in the Pumps Market~ || Business Factors Driving Industry 4.0/IIoT Adoption~ || Most Important Benefits of IIoT and Changes Made by Companies to Align Themselves to IIoT~ | Forecasts and Trends—Total Intelligent Pumps and Controllers Market~ || Market Engineering Measurements~ || Revenue Forecast~ | Protocols and Standardisation~ || Communication Protocols~ || Voice of Market Participants on Protocols and Applications of Smart Pumps in Various Industries~ || Factors Considered for Not Choosing a Protocol Standard~ | Regional Innovation Index~ || Innovation Index~ | Market Share and Competitive Analysis—Total Intelligent Pumps and Controllers Market~ || Competitive Analysis—Market Share~ || Market Share Analysis~ || Competitive Environment~ | Growth Opportunities and Companies to Action~ || Growth Opportunity—Aftermarket Sales~ || Strategic Imperatives for Success and Growth—Future Trend~ || Evolution of the Digital Twin Technology~ | The Last Word~ || The Last Word—3 Big Predictions~ || Legal Disclaimer~ | Appendix~ || Market Overview—Abbreviations~ || Market Engineering Methodology~ || Partial List of Companies Interviewed~ || List of Companies in “Others”~ || List of Exhibits~
List of Charts and Figures 1. Total Intelligent Pumps and Controllers Market: Key Market Drivers, Europe, 2018–2024~ 2. Total Intelligent Pumps and Controllers Market: Key Market Restraints, Europe, 2018–2024~ 3. Total Intelligent Pumps and Controllers Market: Market Engineering Measurements, Europe, 2017~ 4. Total Intelligent Pumps and Controllers Market: Company Market Share Analysis of Top 7 Participants, Europe, 2017~ 5. Total Intelligent Pumps and Controllers Market: Competitive Structure, Europe, 2017~| 1. Total Intelligent Pumps and Controllers Market: Market Engineering Measurements, Europe, 2017~ 2. Total Intelligent Pumps and Controllers Market: Segmentation by Product and Vertical Market, Europe, 2017~ 3. Total Intelligent Pumps and Controllers Market: Percent Revenue Breakdown, Europe, 2017~ 4. Total Intelligent Pumps and Controllers Market: Key Market Drivers and Restraints, Europe, 2018–2024~ 5. Percentage of Companies That Experienced a Cybersecurity Attack, Europe, 2016–2017~ 6. Total Intelligent Pumps and Controllers Market: Challenges Related to Adopting IIoT in Pumps Market, Europe, 2017–2024~ 7. Total Intelligent Pumps and Controllers Market: Factors Driving Adoption of Industry 4.0, Europe, 2017–2024~ 8. Total Intelligent Pumps and Controllers Market: Revenue Forecast, Europe, 2016–2024~ 9. Total Intelligent Pumps and Controllers Market: Factors for not Choosing a Protocol Standard, Europe, 2017~ 10. Total Intelligent Pumps and Controllers Market: Innovation Index, Europe, 2017~ 11. Total Intelligent Pumps and Controllers Market: Market Share, Europe, 2017~ 12. Total Intelligent Pumps and Controllers Market: Roadmap of the Digital Twin Technology, Europe, 2017~
Author Srividhya Murali
Industries Industrial Automation
WIP Number MDA7-01-00-00-00
Is Prebook No
GPS Codes 9415-X1,9420,9593,99F1-A5