Smart Pumps: The Future is Digital and Connected

Smart & Digital Pumps Smart Pumps: The Future is Digital and Connected

2022-08-17 From Dominik Stephan

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Digital pumps are here to stay: A recent study shows that the market for digital and connected pumps could nearly double in size within the next decade. But which trends and developments drive the market and what to expect of the next decade?

Be smart: Strict efficiency standards and growing technological advancements are expected to usher in the age of digital pumps.(Source: © Evija; © josephsjacobs - stock.adobe.com) — Be smart: Strict efficiency standards and growing technological advancements are expected to usher in the age of digital pumps.
(Source: © Evija; © josephsjacobs - stock.adobe.com)

The desire to conserve energy as well as the growing demand for connected automation has finally reached the pump industry: A recent study by FMI forecasts a rise from 11.3 billion dollars in 2022 to a whopping 20.5 billion by 2032 — an annual growth rate of over 6.1 percent. Others are even more optimistic: A recent report by Market Research Future predicts an average annual 7.5 percent growth between 2022 and 2030.

Kleine Schritte füren in der Digitalisierung zum Erfolg. (Krunja Photography)

One thing that all estimates can agree on, however, is that smart is the way to go. As pump operation can account for around a third of the energy expenses of a typical industrial operation, the savings benefits of digital and smart pumps becomes evident. In fact, pumps consume around one-tenth of Europe’s electric power generation (3, 300 terawatt hours), recent figure show.

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Against the trend: The ever-increasing demand to curb energy spending and other costs is driving the digital pump market.(Source: Futuremarketinsights)

Finally, the long-expected breakthrough of digital and connected pump solutions could really be around the corner. It’s about time: Manufacturers have been pushing intelligent pump solutions, connectivity features and corresponding cloud solutions for quite some time, and yet a large number of pumps still operate without even a frequency converter.

Smart Pumps are in Demand

And yet, digital pumps have a lot to bring to the table: They offer not only unique possibilities for fluid control and automation, but also unmatched efficiency and the possibility to be included in complex Industrial Internet of Things (IIoT) applications. Key players in this market include big names like ITT Corporation, Xylem, Wilo, Sulzer, Grundfos and Flowserve that account for a sizable digital pump market share. These companies are therefore actively trying to open new markets and customer groups. Meanwhile, mid-sized and smaller firms try to push into new applications by gaining new contracts and push technical developments and product innovations.

Moreover, government economic stimulus packages and tax credits that target infrastructure projects, including water, wastewater and energy efficiency projects, are also expected to widen the scope of the digital pumps market, the market analysts predict. The industry association Europump believes that water pumps alone could save around 35 TWh from the current 137 TWh. This is immensely important, because by optimizing the pump alone, only a fraction of the saving potentials hidden in the total system is lifted, pump experts explain.

“Digital pumps save energy and cost and have applications in building, water treatment plants, boiler control systems, and automation, which is an essential factor propelling the market growth,” remarks an analyst at FMI. It’s no wonder, then, that major industry and infrastructure projects are starting to include hefty sums for smart pump solutions.

Top 10 Countries in the Chemical Industry

Top 10 Countries in the Chemical Industry

10. Italy: 53 million euros in sales in 2020. (Source: Pixabay)

9. Brazil: 54 million euros in sales in 2020. (Source: Pixabay)

8. Taiwan: 66 million euros in sales in 2020. (Source: Pixabay)

Gallery with 11 images

In March 2020, for instance, Framo and Aker BP declared a smart pump maintenance contract for seawater lift pumps based on offshore projects on the Norwegian continental shelf. With an extension of six years, the six-year-long contract follows an initial pilot contract initiated in 2018 by pump supplier Framo and production company Aker BP, backed by industrial AI in the form of software as a service (SaaS).

Since smart pumps can collect and evaluate data, they can be used to asses the current ‘health’ of a system and predict potential component failures — a typical issue in industry projects, where parts like seals or bearings are often exchanged preventively, long before the actual end of their service life.

Hidden Champions: Did you know that Achema is the world's largest exhibition for pumps, compressors and valves? (Source: © Andrei Merkulov - stock.adobe.com)

A typical tool for this job would be a vibration control unit that determines any anomalies during the pump operation. Still, conventional pump controllers make up the bulk of digital pump market, with an annual growth rate of 4.9 percent.

US Accounts for a Quarter of the Market

A majority of the current output of digital pumps goes into the US, with an estimated market demand of 5.5 billion dollars in 2032. Companies like Regal Rexnord, a global leaders in the manufacturing and engineering of power transmission solutions, have added solutions like variable-speed technology to even mass-market products like pool pumps. Today, players in the global digital pump market focus on expanding their reach through various strategies, such as partnerships, collaborations and significant investments in R&D.

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With digital technology, intelligent pumps have evolved from their traditional role as the mechanical workhorses of manufacturing to the controlled process domain. Intelligent pumps can enable better management and improve process control, and help plants reduce total energy consumption. (dst)

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