Abstract
Market Overview
Intelligent Pump Systems Set to Drive Mature Pump Industry
While the European pump industry is currently experiencing saturation,
intelligent pump systems are witnessing strong growth and are emerging as the
major motivating force for the industry's future growth. Revenues for these
systems increased significantly from $45.8 million in 2002 to $68.5 million in
2005, indicating their rising demand and potential in a variety of end-user
segments such as water and wastewater and building automation.
These and other end-user industries of pumps typically look for a complete
package that offers them exceptional value in terms of product quality,
customer service and support, delivery time, reliability, and price. Keeping
in mind the increasing trend toward intelligent pumps, pump manufacturers need
to re-examine their product offerings and make appropriate changes to ensure
superior branding and achieve differentiation, as well as to sustain revenue
growth. "Failure to react to a mature market could result in companies being
pushed out of the market," remarks the analyst of this research service.
"Going forward, technical advancements in pump features are likely to be a
major driver for the European intelligent pump systems market."
Environmental and Energy Legislation Create Demand for Intelligent Pumps
Changing European Union (EU) legislation on energy and environmental issues,
mainly in the water and wastewater markets and in building construction, are
undoubtedly one of the biggest drivers of the intelligent pump systems market.
The EU is implementing several directives to ensure that ambient, potable
water and wastewater are meeting acceptable quality standards, as well as to
improve energy performance in buildings considering indoor and outdoor
conditions and cost-effectiveness. These new legislations are, therefore,
creating increased demand for smart and advanced equipment that can meet such
requirements.
The demand for intelligent pumps is also rising in other key end-user sectors
such as food and beverages as well as power generation. In addition, many
companies have invested in the design and development of intelligent pumps for
specific niche sectors such as oil and gas, petrochemical, chemical, and
pharmaceuticals. "This is expected to further promote the growth of the market
in the long term from 2009 to 2012," says the analyst. "Revenues are expected
to reach $230.3 million by 2012, representing a compound annual growth rate
(CAGR) of 18.9 percent during the period 2005-2012."
View Cart
