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By 2022, the submersible pumps industry was expected to be worth $14.8 billion. The global market for submersible pumps is expected to increase from USD 15.27 Billion in 2022 to USD 24.85 billion by 2030, representing a CAGR of 8.22% between 2023 and 2030. The primary market drivers boosting market expansion are rising investments in the construction industry and the building of new water and wastewater treatment facilities.
Demand for effective and dependable pumping solutions in a wide range of industrial, agricultural, and residential settings has driven the market's rapid growth in recent years. One of the main forces pushing the market forward is the growing need for efficient and trustworthy pumping systems to be used in irrigation and water delivery. The growing construction industry, in addition to the increasing demand for sewage and wastewater control, is fueling the market's expansion. Several reasons, including the rising need for clean water supply, rapid urbanisation, and rising investments in infrastructure development projects, are projected to fuel the market's continued expansion in the years ahead. One of the most important market factors is the increasing demand for reliable water supply systems across a wide range of end-use industries. The mining business uses submersible pumps for dewatering operations, the oil and gas industry uses them for drilling and exploration, and the agriculture industry uses them for irrigation. Another factor fueling market growth is the growing need for submersible pumps to be used in plumbing systems for both domestic and industrial applications.
When extracting oil and gas from wells, submersible pumps are typically used. To efficiently pump large volumes of liquid to the surface, ESPs can be easily mounted in the drill string as the borewell submersible pumps. Numerous wells are nearing age and will need an extra technique of oil and gas production. The U.S. Energy Information Administration (EIA) predicted in February 2020 that global demand for petroleum and liquid fuels will climb by more than 1.3 BPD in 2020, reaching 101.97 BPD by the end of the year.
The expansion of both national and international economies is dependent on investments in the building sector. In the next decade, capital expenditures are projected to increase dramatically. Countries across the Asia-Pacific region, including China, India, Indonesia, and others, are spending heavily on infrastructure. Spending on infrastructure in Indonesia, for instance, is expected to exceed USD 165 billion by 2025. Modernization and commercialization call for substantial investment in infrastructure. In addition, growing urbanisation in developing countries is anticipated to increase investments in key industries like water & wastewater treatment and power, which in turn is anticipated to fuel the expansion of the submersible pumps market.
When used within their operating range (in terms of temperature, hydraulic stress, and required power), submersible pump motors are exceptionally dependable. These engines work wonderfully in home, agricultural, and municipal settings. Unfortunately, many people use these motors for tasks that go beyond their intended specifications. This leads to breakdowns, and the benefits of submersible motors are rapidly forgotten. Pumping hot water, motor overload by the pump, lack of cooling flow past in the motor, scale accumulation, and frequent engine on and off are the most typical causes of overheating in submersible motors. Such breakdowns are expensive to solve and shorten the pump's lifespan due to repairs and re-installations. Therefore, the price of fixing broken pump motors is a factor that slows the expansion of the submersible pumps industry.
Report Coverage
Global Submersible Pumps research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Submersible Pumps report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Submersible Pumps competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Submersible Pumps market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Submersible Pumps market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Submersible Pumps market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Xylem (US),KSB Group (Germany),Flowserve Corporation (US),EBARA CORPORATION (Japan),Tsurumi Manufacturing Co. Ltd. (Japan),The Gorman-Rupp Company (US),Atlas Copco AB (Sweden),The Weir Group PLC (UK),Sulzer Ltd. (Switzerland), among others
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Submersible Pumps market based on the below-mentioned segments:
Global Submersible Pumps Market, By Industry
Water & Wastewater
Oil & Gas
Agriculture & Irrigation
Construction
Mining
Others
Global Submersible Pumps market, By Well Type
Bore Well
Open Well
Global Submersible Pumps Market, By Power Rating
High Power
Medium Power
Low Power
Global Submersible Pumps market, Regional Analysis
Demand for effective and dependable pumping solutions in a wide range of industrial, agricultural, and residential settings has driven the market's rapid growth in recent years. One of the main forces pushing the market forward is the growing need for efficient and trustworthy pumping systems to be used in irrigation and water delivery. The growing construction industry, in addition to the increasing demand for sewage and wastewater control, is fueling the market's expansion. Several reasons, including the rising need for clean water supply, rapid urbanisation, and rising investments in infrastructure development projects, are projected to fuel the market's continued expansion in the years ahead. One of the most important market factors is the increasing demand for reliable water supply systems across a wide range of end-use industries. The mining business uses submersible pumps for dewatering operations, the oil and gas industry uses them for drilling and exploration, and the agriculture industry uses them for irrigation. Another factor fueling market growth is the growing need for submersible pumps to be used in plumbing systems for both domestic and industrial applications.
When extracting oil and gas from wells, submersible pumps are typically used. To efficiently pump large volumes of liquid to the surface, ESPs can be easily mounted in the drill string as the borewell submersible pumps. Numerous wells are nearing age and will need an extra technique of oil and gas production. The U.S. Energy Information Administration (EIA) predicted in February 2020 that global demand for petroleum and liquid fuels will climb by more than 1.3 BPD in 2020, reaching 101.97 BPD by the end of the year.
The expansion of both national and international economies is dependent on investments in the building sector. In the next decade, capital expenditures are projected to increase dramatically. Countries across the Asia-Pacific region, including China, India, Indonesia, and others, are spending heavily on infrastructure. Spending on infrastructure in Indonesia, for instance, is expected to exceed USD 165 billion by 2025. Modernization and commercialization call for substantial investment in infrastructure. In addition, growing urbanisation in developing countries is anticipated to increase investments in key industries like water & wastewater treatment and power, which in turn is anticipated to fuel the expansion of the submersible pumps market.
When used within their operating range (in terms of temperature, hydraulic stress, and required power), submersible pump motors are exceptionally dependable. These engines work wonderfully in home, agricultural, and municipal settings. Unfortunately, many people use these motors for tasks that go beyond their intended specifications. This leads to breakdowns, and the benefits of submersible motors are rapidly forgotten. Pumping hot water, motor overload by the pump, lack of cooling flow past in the motor, scale accumulation, and frequent engine on and off are the most typical causes of overheating in submersible motors. Such breakdowns are expensive to solve and shorten the pump's lifespan due to repairs and re-installations. Therefore, the price of fixing broken pump motors is a factor that slows the expansion of the submersible pumps industry.
Report Coverage
Global Submersible Pumps research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Submersible Pumps report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Submersible Pumps competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Submersible Pumps market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Xylem (US),KSB Group (Germany),Flowserve Corporation (US),EBARA CORPORATION (Japan),Tsurumi Manufacturing Co. Ltd. (Japan),The Gorman-Rupp Company (US),Atlas Copco AB (Sweden),The Weir Group PLC (UK),Sulzer Ltd. (Switzerland), among others |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Submersible Pumps Market from 2021 to 2030.
- Market Forecast for Submersible Pumps Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Submersible Pumps competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Submersible Pumps
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Submersible Pumps market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Submersible Pumps market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Xylem (US),KSB Group (Germany),Flowserve Corporation (US),EBARA CORPORATION (Japan),Tsurumi Manufacturing Co. Ltd. (Japan),The Gorman-Rupp Company (US),Atlas Copco AB (Sweden),The Weir Group PLC (UK),Sulzer Ltd. (Switzerland), among others
Primary Target Market
- Market Players of Submersible Pumps
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Submersible Pumps market based on the below-mentioned segments:
Global Submersible Pumps Market, By Industry
Water & Wastewater
Oil & Gas
Agriculture & Irrigation
Construction
Mining
Others
Global Submersible Pumps market, By Well Type
Bore Well
Open Well
Global Submersible Pumps Market, By Power Rating
High Power
Medium Power
Low Power
Global Submersible Pumps market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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