Digital Pump Market Forecast with Potential Impact, Despite COVID-19 Pandemic, Finds FMI 2022 - 2032

 According to a recent study done by FMI, the Digital Pump Market is expected to reach US$ 20.5 Billion by 2032, up from US$ 11.3 Billion in 2022, expanding at a high CAGR of 6.1%. This study explains that factors such as the strict energy-efficiency standards, growing technological advancements, development of smart cities, growing demand for building automation and increasing power generation capacity globally are expected to fuel the market growth during the forecast period.

  • Global Digital Pump Market was valued at US$ 11.3 Billion by 2022-end
  • The US to account for the highest value share of US$ 5.5 Bn of global market demand for Digital Pump Market in 2032
  • From 2015 to 2021, Digital Pump demand expanded at a CAGR of 6.7%
  • By connectivity, the conventional pump controller constitutes the bulk of digital pump market with a CAGR of 4.9%.
  • In August 2021, Regal Beloit Corporation, one of the global leaders in the manufacturing and engineering of power transmission solutions, declared the recent addition of its new Century VGreen Evo pool pump motor to its product portfolio. Operated by advanced variable speed technology, the VGreen Evo pump motor is one of the most energy-efficient pool pump motors available in the market.
  • In March 2020, Framo and Aker BP declared a smart pump maintenance contract for seawater lift pumps based on Norwegian Continental Shelf. With an extension of six years, the six-year-long contract is a continuation of a pilot contract initiated by pump supplier Framo, production company Aker BP, and industrial AI Software as a Service (SaaS) in 2018.

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