"Increasing installation of water pumps across the globe is the key factor driving demand for digital pump controllers"

The global digital pump controllers market is poised to reach US$ 20.72 Bn by 2030, expanding at a CAGR of 7.8% during the forecast period from 2023 to 2030. Increasing installations of water pumps are identified as the major factor driving demand for digital pump controllers worldwide. In addition, government regulations and policies that mandate the use of solar pumps in agricultural fields is further stimulating demand for digital pump controllers worldwide. However, lack of public awareness and technical know-how with respect to operation of digital solutions through mobile app or any other electronic system and inclination towards low-cost pumps are the major challenges faced by the digital pump controllers market. 

"Increasing Demand from the Agriculture Industry and Waste Water Treatment to Drive Growth Prospects"

Agriculture represents the largest end-use segment in the global digital pump controllers market. The growth in this segment will be determined by the perpetually growing demand for water in agricultural fields, irrigations and wastewater/sewage treatments. The market in Asia Pacific is estimated to expand at a rapid CAGR of 9.3% from 2021 to 2030. Moreover, the region is trying to adopt precision farming practices in wake of which manufacturers are focusing on designing pump controllers that consume less energy and are easy to operate. These factors are projected to drive the market in Asia Pacific region.

"Asia Pacific to Dominate, Europe to Witness Strong Growth"

The digital pump controllers market worldwide is estimated to register strong growth in demand, especially in Asia Pacific. This region is currently the largest digital pump controllers market and will continue to hold substantial market share during the forecasted period owing to steady demand from emerging economies such as India, China, and Japan. The digital pump controllers market in the aforementioned countries is primarily driven by growing penetration of advanced technologies such as SCADA and radiofrequency that control flow, pressure, and level variables of water. Increasing adoption of the aforementioned technologies is spurred by government policies and regulations that promote the introduction of energy-efficient products. In August 2021, the Government of India announced a special scheme for farmers for the installation of solar pumps which includes 17.50 lakhs standalone solar power pumps, and 10 lakhs grid-connected pumps which is going to be solarized by 2023. This can boost the demand for digital pump controllers in India during the forecast period.

The digital pump controllers market in the Europe region is expected to grow significantly owing to the growing need to limit the energy consumption of pumps. The European Union (EU) is highly concern towards energy conservation and aims to achieve an energy efficiency target of 20% by 2020 and around 27% by 2030 which is expected to fuel the growth of the digital pump controllers market.  

Key Players & Competitive Landscape:

Some of the leading manufacturers profiled in the study include C&S Electric Limited, Precision Digital Corporation, Sulzer Ltd., Kirloskar Brothers Limited, Dwyer Instruments, Inc., Grundfos AS, Xylem Inc., Spring (Europe) Ltd., Remote Control Technology, Padmansha Technologies Pvt. Ltd. and Digital Control Company.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Digital Pump Controllers market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Digital Pump Controllers market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Digital Pump Controllers market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Digital Pump Controllers market?
• Which is the largest regional market for Digital Pump Controllers market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Digital Pump Controllers market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Digital Pump Controllers market worldwide?