Global Submersible Pumps Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Submersible Pumps Market Overview:

“The global Submersible Pumps Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Request Covid - 19 Impact

The report offers insightful and detailed information regarding the various key players operating in the global submersible pumps market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global submersible pumps market report has been segmented on the basis of type, operation, end-use, and region.

Submersible pumps are designed to be placed in water or any other fluids that is to be removed. These pumps are applicable in various end use applications such as pond, borehole, well, pool, and sewage. Submersible pumps are also referred to as electric submersible pumps. Submersible pumps push fluid to ground surface by converting rotary energy into kinetic energy and then into pressure energy. Design of submersible pumps vary in comparison with other traditional pumps, as it contains tightly contained unit, with watertight seals that keep the liquid out of the housing and internal components.

Growing demand for energy globally, and increasing infrastructural activities in both developed and developing economies are key factors driving growth of the global submersible pumps market. In addition, rising oil & gas exploration and production activities in deep water, and increasing government investments into recycling of waste water are other factors expected to propel growth of the global submersible pumps market over the forecast period.

However, high operational cost is a major factor restraining growth of the global submersible pumps market. Additionally, lack of skilled workforce, and problems associated with use of submersible pumps such as overheating of motor, and corroding internal components are other factors expected to hamper growth of the global submersible pumps market over the forecast period.

The market in Asia Pacific is expected to account for the largest share in terms of revenue as compared to other regions. This can be attributed to development of oil and energy industry and increasing government initiatives for development of infrastructure in emerging economies in the region. Also, the market in North America is projected to account for the second-largest share in terms of revenue over the forecast period, owing to growing exploration activities and development in wastewater processing industries in countries in the region.

Global Submersible Pumps Market Segmentation:

Global submersible pumps market segmentation by type:

• Openwell
• Borewell

Global submersible pumps market segmentation by operation:

• Single-stage
• Multi-stage

Global submersible pumps market segmentation by end-use:

• Water & Wastewater
• Construction
• Energy & Power
• Food & Beverages
• Pharmaceuticals
• Others

Global submersible pumps market segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa