Europe Digital Pump Market

Europe Digital Pump Market Size (2024 to 2029)

The size of the Europe digital pump market is anticipated to be worth USD 5.22 billion by 2029 from USD 4.08 billion in 2024, growing at a CAGR of 5.07% from 2024 to 2029.

The major factors driving the growth of the digital pump market are the applications in various sectors such as food and beverage, pharmaceuticals, oil & gas, textiles and paper, chemicals, biotechnology, construction, water and wastewater treatment, and pumping stations. The main advantage of digital pumps is that they eliminate manual pump operation while drawing water from a tank or other water source. In addition, digital pumps installed in various industries help decrease water waste.

The growing number of initiatives by the governments of European countries is fuelling the growth rate of the European market. The number of initiatives the European Union has taken in wastewater treatment is increasing rapidly. For example, as part of the EU Urban Waste Water Directive, a timeline has been established for building the infrastructure necessary to collect and treat wastewater in urban areas. In addition, several initiatives taken by the government have increased the demand for digital pumps in a wide range of industries across the region.

People, especially those living in rural areas, are unaware of the advantages of advanced technologies. This is because there is a lack of awareness of their advantages among them. Likewise, there is a lack of awareness about the benefits of the digital pump among farmers. These key factors restrict the growth of digital pumps in the European region.

Impact of COVID-19 on European digital pump market:

The impact of COVID-19 has affected several regions globally. For example, several cases in the European region forced the governments to impose lockdowns, which resulted in the shutdown of some manufacturing units for some time. These pandemics also affected the supply chain of goods globally. For example, the region's production of digital pumps was halted or slowed, which affected the market's growth.

This research report on the European digital pump market has been segmented and sub-segmented based on the following categories.

Europe Digital Pump Market - By Connectivity:

• Conventional Pump Controller
• Mobile/Remote Pump Controller

During the 2021 European market revenue period, conventional pump controllers accounted for the highest market share in the controller segment. However, many farmers and industries have not adapted to advanced technologies and are still using traditional pump controllers on their farms.

The mobile pump controller segment is expected to grow rapidly during the forecast period. A mobile pump controller offers the end user a wide variety of advantages. For example, the pump can be operated from anywhere, at any distance, and a relatively low cost, with high-quality, low-maintenance, and durable equipment. The user can even control the pump via SMS or a missed telephone call if he or she wishes. In many cases, these devices are specially designed and manufactured to meet the needs of farmers, agriculturists, and industries to operate and monitor them. These advantages are key factors that are driving the growth of the digital pump market.

Europe Digital Pump Market - By Distribution Channel:

• Online
• Retail

The retail channel segment contributed to the highest market share in the European market revenue in 2021. It is expected to grow at a high rate during the forecast period. A number of retail stores owned by the company and third parties sell digital pumps on their behalf. To better understand a product's features, consumers prefer to visit a physical store instead of viewing it on an online channel. This is why retail stores play a significant role in this process. However, the online market is expected to grow steadily since people get benefits like discounts and door-to-door service from online shopping.

Europe Digital Pump Market - By Industry:

• Manufacturing
• Public Sector
• Agriculture
• Residential

The agriculture segment contributed to the highest market share in the European market revenue in 2021 and is expected to grow at a high rate during the forecast period. In agriculture, pumps are utilized in various ways to irrigate the soil, such as sprinklers, floods, or micro-irrigation systems. It is used to remove water from reservoirs by means of water pumps. We can use open wells, monoblocs, or borewell pumps connected to borewells to do this. Digital pumps help reduce the amount of water wasted on farmlands due to water wastage. This technology can also provide a quicker response time than conventional pumps. It can also reduce energy loss by as much as 90% compared to conventional pumps. As a result, technology has helped to increase the amount of production from farmland. The companies are now putting more effort into advancing digital pump technologies that can be utilized by farmers and improving the productivity of farmland.

Europe Digital Pump Market - By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

France is leading the European region in market share in 2023 and is expected to grow at a high rate during the forecast period. The country is experiencing a high amount of revenue from the wastewater treatment plant, which the European Union is also helping with financing. Furthermore, the largest EU agricultural producer, France, generates around 23% of the value in Europe. The governments are educating the farmers to adopt advanced technologies in their farmland to increase their output. The adoption of rapidly increasing technologies in the country is boosting the growth of the digital pump market.

Germany is second in terms of market share and is expected to grow at a significant rate during the forecast period in the region. The country accounts for nearly 15% of the annual agricultural value in the region. In addition, it is a hub for automotive industries. Therefore, the government is focusing on the growing need to decrease the energy consumption of pump controllers in this region.

KEY MARKET PARTICIPANTS:

Companies playing a major role in the Europe digital pump market include KSB Aktiengesellschaft, Flowserve Corporation, Wilo SE, ABB Ltd, Grundfos Holding, Sulzar Ltd, Regal Beloit, Wanner International, ITT Corporation and Framo AS.

RECENT HAPPENINGS IN THE MARKET:

• In August 2021, the Century VGreen Evo pool pump motor was introduced, according to Regal Beloit Corporation. The new VGreen Evo motor, powered by cutting-edge variable speed technology, is one of the pool pump industry's most energy-efficient motors. These motors have up to 80% greater efficiency than conventional single-speed motors. The VGreen Evo motor was also created with simplicity, with a single button allowing for flexible programming.
• In March 2020, the Norwegian Continental Shelf's seawater lift pumps will soon have smart pump maintenance contracts signed by Aker BP and Framo, where payment is directly correlated with facility uptime. The digital pilot project was for preventative maintenance of the seawater lift pumps on the Ivar Aasen field, operated by Aker BP. This new maintenance agreement applies to each of the five Aker BP's field centers.