Submersible Pumps Market Overview
Increasing investments in the construction industry give rise to rapid urbanization, and high demand in the agricultural sector for submersible pumps are the key factors operating the growth of the submersible pumps market.
By 2030 the estimated size of global submersible pumps market is USD 24.80 billion, at a CAGR of 7.22%, from an estimated USD 14.2 billion in 2021.
The global pandemic has impacted the submersible pump market and slowed down its growth. This slow down caused due to economic contraction. In covid-19, the mining industry impact remains uncertain; with every passing day, this crisis is affecting the supply chain and demand for the product. Moderate price drops were noticed all over major commodities, while in some cases, prices remain to be passive.
Pandemic adversely affects the business of companies manufacturing submersible pumps due to the global shutdown and supply chain breakage.
Market segmentation
Based on Type
· Electrical
· Hydraulic
· Air-Driven
· Based on application
· Open Pit
· Borewell
Based on operation
· Single-stage
· Multi-stage
Based on power rating
· Below 1 HP
· 1–5 HP
· 5–15 HP
· Above 15 HP
Based on sector
· Industrial
· Water & Wastewater
· Mining & Construction
· Energy & Power
· Others
· Agricultural
· Domestic
Based on the region
· North America
· Asia Pacific
· South America
· Europe
· Middle East & Africa
Some of the key players in the Submersible water pumps market are Xylem (US), Sulzer (Switzerland), KSB Group (Germany), Grundfos (Denmark), and Atlas Copco (Sweden). These are the leading players who are adopting various strategies to increase their share.
Regional analysis
· Asia-Pacific is expected to be the largest market during the forecast period, followed by North America and Europe. The governments of developing countries have created policies to multiply the industrial sector growth that is leading the expansion of industries, such as construction, gas and oil etc. which have widened their application of submersible pumps by operating the submersible pump market in Asia-Pacific.
· China is experiencing rapid growth in urbanization, by which the density in urban areas has increased the population, resulting in a decrease in water quality. The rise in urbanization has resulted in an increase produced by wastewater in the country. In order to eradicate this problem, the China Government had increased the guidelines, as well as incentives, for the industrial sector to treat wastewater. The municipalities are increasing investments in sewage water treatment and drinking water treatment plants. A similar process is expected to continue during the estimated period, which, in turn, is expected to operate the demand for a submersible pump in the water and wastewater industry during the estimated period.
· Major region occupied by the submersible pump is the united nation with a CAGR of 5.37%. Xylem, Inc held the largest share among the top five players with a revenue of 42% in the US region, followed by KSB Group and Sulzer AG with respective revenue of 55.61% and 52%, respectively, in the US.
Industrial news
- Turkey's pump market size to grow at a CAGR of 6.52% during the forecast period.
· The market for Submersible pumps for the mining industry is growing at a CAGR of 5.14% during the forecasted period 2016-2022.
The paper offers information on the following guidelines:
1. industry Penetration: Offers thorough data on the industry that is supplied by the major competitors
2. Market Development: Offers comprehensive details regarding profitable developing markets and examines market penetration across established industry sectors.
3. Market Diversification: Offers comprehensive data on investments, current advancements, unexplored regions, and the introduction of new products.
4. Competitive Assessment & Intelligence: Offers a thorough evaluation of the top companies' market shares, business plans, goods, certifications, regulatory approvals, patent portfolios, and manufacturing capacities.
5. Product Development & Innovation: Offers perceptive perspectives on upcoming technologies, research and development endeavors, and ground-breaking product innovations.
The report answers questions such as:
1. What is the market size and forecast of the Submersible Pumps Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Submersible Pumps Market?
3. What is the competitive strategic window for opportunities in the Submersible Pumps Market?
4. What are the technology trends and regulatory frameworks in the Submersible Pumps Market?
5. What is the market share of the leading vendors in the Submersible Pumps Market?
6. What modes and strategic moves are considered suitable for entering the Submersible Pumps Market?
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