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European Intelligent Pumps and Controllers Market Report 2018: Driving Smart Revolution - Forecast to 2024

Dublin, Dec. 17, 2018 (GLOBE NEWSWIRE) -- The "European Intelligent Pumps and Controllers MarketDriving Smart Revolution, Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

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 the authors research, more mergers and acquisitions resulting in collaborative operations between pump manufacturers with the IT sector are expected during the forecast period.

Key Topics Covered:

1. Executive Summary

  • Key Findings
  • Market Engineering Measurements
  • CEO's Perspective

2. 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-Key Questions this Study will Answer
  • Market Overview-Product Segmentation

3. Drivers and Restraints-Total Intelligent Pumps and Controllers Market

  • Drivers and Restraints
  • Market Drivers
  • Drivers Explained
  • Market Restraints
  • Restraints Explained

4. 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

5. 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

6. Forecasts and Trends-Total Intelligent Pumps and Controllers Market

  • Market Engineering Measurements
  • Revenue Forecast Assumption
  • Revenue Forecast
  • Revenue Forecast Discussion

7. 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

8. Regional Innovation Index

  • Innovation Index
  • Discussion

9. Market Share and Competitive Analysis-Total Intelligent Pumps and Controllers Market

  • Competitive Analysis-Market Share
  • Market Share Analysis
  • Competitive Environment

10. Growth Opportunities and Companies to Action

  • Growth Opportunity-Aftermarket Sales
  • Strategic Imperatives for Success and Growth-Future Trend
  • Evolution of the Digital Twin Technology

11. The Last Word

  • The Last Word-3 Big Predictions
  • Legal Disclaimer

12. Appendix

  • Market Overview-Abbreviations
  • Market Engineering Methodology
  • Partial List of Companies Interviewed
  • List of Companies in Others
  • List of Exhibits

For more information about this report visit https://www.researchandmarkets.com/research/lr42kt/european?w=12

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

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                    Related Topics: Pumps
                    

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