Submersible Pumps Market

Submersible Pumps Market was valued at USD 11.9 billion in 2021 and is forecast to touch USD 19.7 billion in 2029, and the market is expected to grow at a CAGR of 6.5%.

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Major Submersible Pumps Market Drivers

The key drivers propelling the growth of the global submersible pumps market include the continuous industrial development at the global level, followed by the rising population rate. The growing investments in the oil & gas projects, especially in the GCC region, is creating innumerable growth opportunities in the coming years. The end-users across the world are seeking for advanced pumps with sleek designs and optimal functionality. This factor is encouraging the manufacturers to invest in the R&D activities for product innovation, thereby strengthening the market growth. In addition to this, the rapid increase in the urban population, along with rising incidences of motor failure, will further complement the submersible pumps market globally. The submersible pump offers an energy saving feature and creates lesser noise as compared to the ordinary pumps. On the other hand, the high cost of these submersible pumps is likely to have a negative impact on the growing demand of the market.

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Application – Segment Analysis

Based on the Application, the market is segmented into industrial sector, agricultural sector, and domestic sector. The industrial segment is expected to grow at a higher CAGR over the forecast period due to the increasing adoption of submersible pumps in various verticals such as wastewater, sewage treatment, draining out water from holes in various construction and mining activities. Moreover, the growing number of deepwater exploration activities and subsea operations will further surge the demand for submersible pumps in this segment.

Industry – Segment Analysis

Based on the Industry, the market is segmented into water & wastewater, energy & power, mining & construction, and other industries. The mining & construction segment is anticipated to lead the market during the forecast period owing to the rapid expansion in the construction activities across the globe. Countries such as UAE and Saudi Arabia, are mainly focusing on infrastructural development, including the Smart city project to improve the life quality of their citizen. All these factors are drastically boosting the construction activities, thereby driving the market growth. The submersible pump is mainly used to pump excess water from construction sites.

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Regional – Segment Analysis

Based on region, the Asia-Pacific region is expected to grow at a higher CAGR during the forecast period owing to the rapid increase in the rate of population, especially in India, China, and Indonesia. The growth in the agricultural sectors, industrial sector, and the rising spending on infrastructural development in the developing economies will further pay the way for the growth of submersible pumps market in this region.

Top Market Players

Various notable players are operating in the global submersible pumps market, including Xylem Inc., Sulzer Ltd., KSB Group, Grundfos Group, Ebara Corporation, Atlas Copco, Flowserve Corporation, General Electric Company, Halliburton and The Gorman-Rupp Company, among others.

Key Developments:

• • In 2020, Grundfos signed a long-term strategic partnership agreement with Augury, a fast-growing data and analytics company. The two companies have been working together for the past two years and are now taking a major step towards digitizing water and utility infrastructure across the world.
  • In 2019, Xylem launched the Flygt N3069 stainless steel submersible pump, which is specially designed to solve the complex industrial challenges.

Segments covered in the Report:

The global Submersible Pumps market has been segmented on the basis of type, operation, application, power rating, industry and region. Based on type, the market is segmented into openwell and borewell. Based on operation, the market is segmented into single stage and multi stage. Based on application, the market is segmented into agricultural sector, industrial sector and domestic sector. Based on power rating, the market is segmented into low power, medium power and high power. Based on industry, the market is segmented into water & wastewater, energy & power, mining & construction and others.

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Key questions answered in this research report:

• • At what pace is global submersible pumps market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in submersible pumps market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global submersible pumps market?
  • Which type generated maximum revenues in 2021 and identify the most promising type during the forecast period?
  • What are the various application areas of global submersible pumps market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2021)	USD 11.9 Billion
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Type, By Operation, By Application, By Power Rating, By Industry, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Xylem Inc., Sulzer Ltd., KSB Group, Grundfos Group, Ebara Corporation, Atlas Copco AB, Flowserve Corporation, General Electric Company, Halliburton Company and The Gorman-Rupp Company; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Submersible Pumps Market by Type

• • Openwell
  • Borewell

Global Submersible Pumps Market by Operation

• • Single Stage
  • Multi Stage

Global Submersible Pumps Market by Application

• • Agricultural Sector
  • Industrial Sector
  • Domestic Sector

Global Submersible Pumps Market by Power Rating

• • Low Power
  • Medium Power
  • High Power

Global Submersible Pumps Market by Industry

• • Water& Wastewater
  • Energy & Power
  • Mining & Construction
  • Others

Global Submersible Pumps Market by Region

• • North America Submersible Pumps Market (Option 1: As a part of the free 25% customization)

    • By Type
    • By Operation
    • By Application
    • By Power Rating
    • By Industry
    • US Market All-Up
    • Canada Market All-Up

  • Europe Submersible Pumps Market (Option 2: As a part of the free 25% customization)

    • By Type
    • By Operation
    • By Application
    • By Power Rating
    • By Industry
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Submersible Pumps Market (Option 3: As a part of the free 25% customization)

    • By Type
    • By Operation
    • By Application
    • By Power Rating
    • By Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Submersible Pumps Market (Option 4: As a part of the free 25% customization)

    • By Type
    • By Operation
    • By Application
    • By Power Rating
    • By Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Submersible Pumps Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Xylem Inc.
  • Sulzer AG
  • KSB Group
  • Grundfos Group
  • Ebara Corporation
  • Atlas Copco AB
  • Flowserve Corporation
  • General Electric Company
  • Halliburton Company
  • The Gorman-Rupp Company