Frost & Sullivan: European Smart Pumps Market Revenue to Reach $267.9 Million by 2018
The enhanced focus on optimizing energy consumption and minimizing pump lifecycle costs in the water and wastewater industry is boosting the adoption of smart pumps across Europe, according to Frost & Sullivan.
The market earned revenues of $192.4 million in 2013 and Frost & Sullivan expects revenues to reach $267.9 million in 2018. The research covers positive displacement and centrifugal smart pumps.
Although smart pumps have a higher initial cost than standard pumps, they enable a reduction in the total cost of ownership by lowering maintenance and operation costs.
Such cost benefits arising from greater process automation coupled with the increase in efficiency and quality are expected to be important pump-selection factors in the European water and wastewater industry.
“Tight environmental regulations designed to reduce greenhouse gas and carbon emissions lend significant support to the smart pumps market,” said Frost & Sullivan Industrial Automation & Process Control research analyst Niranjan Paul. “This includes the Euro 2020 directive, which targets a 20 percent reduction in greenhouse gas emissions from the levels experienced in 1990, and the Ecodesign directive that sets rigorous ecological requirements for energy-related products sold across Europe.”
For more information, visit www.industrialautomation.frost.com.