Smart Pumps Will Help Drive Pump Revenues to $46 Billion in 2017

Pump suppliers will experience rising sales resulting in just under $46 billion in revenue by 2017. This is the conclusion reached by the McIlvaine Company in “Pumps World Market.”

World Region	2017
Africa	1,830
CIS	2,039
East Asia	15,979
Eastern Europe	1,011
Middle East	2,451
NAFTA	8,721
South & Central America	2,925
West Asia	3,633
Western Europe	7,140
Total	45,729

The early pump companies were foundries. Completive edge and greater revenue were based around manufacturing skills. Today the pump industry is much more focused on providing solutions for customers. This can include purchased components and software. These auxiliaries are reflected in the revenues reported by the companies.

A significant part of the growth is due to the “smart pump” offerings. Smart pumps can be integrated directly into plant distributed control systems. They reduce maintenance and improve performance.

It has the ability to improve the dosing function for pH control, disinfection, or cleaning–in-place.

PumpSmart^® from ITT is an intelligent flow system that works with any pump, utilizing smart VFD controller and proprietary control software to provide advanced process control, enhanced reliability through failure prevention, reduced life cycle costs and lower energy costs.

ITT also offers ProSmart^® which is a multi-patented, low cost, wireless predictive condition monitoring system that provides continuous online monitoring, alerting operators to alarm conditions via email or telephone.

Four years ago Colfax Corp. developed an intelligent concept pump with the ability to monitor its performance, adjust to changing conditions and order its own replacement parts — all without human supervision. The TX2020 can operate by itself at a remote pumping location or be connected to a network of pumps managed at a central office.

TX2020 pump software includes a preventive maintenance calendar and, based on foreseen needs or detected problems, the ability to determine which parts need replacement and issue a purchase order for them. For marine applications the TX2020 can even provide a preprogrammed list of the service stations closest to the vessel, with full coordinates and contact details. The software also maintains precise records, in the form of an electronic log book operators can use to track performance trends over time.

These examples are part of a trend among pump suppliers to supply the “smart” auxiliaries.