Global Submersible Pumps Market By Overview
Submersible pumps market accounted for US$ 11.65 billion in 2020 and is estimated to be US$ 19.45 billion by 2030 and is anticipated to register a CAGR of 5.3%.
Submersible pumps are device which is submerged in the fluids that has to pump and are efficient when compared to jet pumps. As such, they are designed to use for different purposes like drainage in floods, sewerage pumping, emptying ponds or even as pond filters. Filtration pumps present inside fish tanks are a type of submersible pumps. These pumps are better for higher demand water units. This will help to save energy as they don’t need as much power as jet pumps for operating.
As there are different horsepower’s pumps present according to the usage on need to decide. One can run a submersible pump continuously for as long as require, but it need a constant water supply. Submersible pumps are energy efficient and high in capacity and hence it is widely used for residential, commercial, and municipal purpose. Furthermore, it is also used for seawater handling, sewage treatment plants, and in firefighting.
Global Submersible Pumps Market By Drivers & Restraints
Increasing Industrial development
Rising investment in construction industries, strict regulations for wastewater treatment across different sectors, and surges in the infrastructure industry are some of the major factors driving the market. Furthermore, the increasing focus of manufacturers to develop submersible pumps that reduce energy consumption, further are highly durable is another factor expected to boost the growth of the global submersible pump market in the next 10 years. Additionally, agricultural activities are the most important part of the submersible pumps market.
Motor Failure and High Troubleshooting Cost
However, technical problems and maintenance costs may hamper the growth of the market. The motors are extremely reliable when applied to the field and work within their limits of temperature, hydraulic loading, and power requirements. The troubleshooting cost of such failures is high, and it reduces the life of such pumps because of repairs and re-installation of such parts.
Global Submersible Pumps Market By Segmentations & Regional Insights
Submersible pumps market is segmented based on type, operation, power rating, industry and region.
On the basis of type, the global submersible pumps market is segmented into open well and borewell. Based on operation, the target market is segmented into single-stage and multi-stage. On the basis of power rating, the target market is segmented into low power, medium power, and high power. Lastly, on the basis of industry, the target market is segmented into water & wastewater, energy & power, mining & construction, and others.
Regional Insights:
On region, the global submersible pumps market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific region is predicted to account for the largest revenue during the forecast period. The region is attracting investors to set up production facilities because of the availability of raw materials and labor at lower prices. The government is providing support the industrial developments; this also helps in the expansion of the sales of submersible pumps. Countries like India and China, are witnessing increases in multiple sectors, thereby surging growth in demand for crude oil, and chemicals, among others.
Submersible Pumps Market Report Scope:
Attribute |
Details |
Base year for estimation |
2020 |
Forecast period |
2020 – 2030 |
Market representation |
Revenue in USD Billion & CAGR from 2020 – 2030 |
Market Segmentation |
By Type- Open well and Borewell By Operation– Single stage and Multi-Stage By Power Rating– Low Power, Medium Power, and High Power By Industry- Water & Wastewater, Energy & Power, Mining & Construction, and Others |
Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global submersible pumps market report based on type, operation, power rating, application, and region.
Submersible Pumps Market, By Region:
- North America
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Europe
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- U.S.
- Canada
- Middle East & Africa
Global Submersible Pumps Market By Competitive Landscape & Key Players
The key players operating in the global submersible pumps market includes Xylem Inc., Sulzer AG, KSB Group, Grundfos A/S, Ebara Corporation, Atlas Copco AB, Flowserve Corporations, General Electric Company, Halliburton Company, and The Gorman-Rupp Company.
Global Submersible Pumps Market By Company Profile
- Xylem Inc.
- Sulzer AG
- KSB Group
- Grundfos A/S
- Ebara Corporation
- Atlas Copco AB
- Flowserve Corporations
- General Electric Company
- Halliburton Company
- The Gorman-Rupp Company
Global Submersible Pumps Market By Highlights
FAQs
The global submersible pumps market is segmented based on type, operation, power rating, industry, and region.
Increasing industrial developments and investments in different sectors is the major factor driving growth of the global market
The submersible pumps market in Asia-Pacific accounted for highest revenue share, in 2018 and is expected to maintain its dominance over the forecast period.
Key players operating in the global submersible pumps market includes Xylem Inc., Sulzer AG, KSB Group, Grundfos A/S, Ebara Corporation, Atlas Copco AB, Flowserve Corporations, General Electric Company, Halliburton Company, and The Gorman-Rupp Company.