Submersible Pump Market

The new report by Expert Market Research titled, ‘Global Submersible Pump Market Size, Share, Growth, Analysis, Report and Forecast 2022-2027’, gives an in-depth analysis of the global submersible pump market. The market segments are assessed based on type, drive type, head, end user and major regions like North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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Submersible Pump Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast

The key highlights of the report include:

Market Overview (2017-2027)

• Historical Market Size (2021): USD 11.3 billion
• Forecast CAGR (2022-2027): 6.83 %
• Forecast Market Size (2027): USD 16.8 billion

Report Attribute Details
Historical Period 2017-2021
Forecast Period 2022-2027
Base Year 2021
Market Size in 2021 11.3 billion
Revenue Forecast in 2027 16.8 billion
Growth Rate CAGR 6.83%
Major Players Baker Hughes Company, Schlumberger Limited, Halliburton Energy Services, Inc., Weir Group PLC,
Sulzer Ltd., Grundfos Holding A/S, The Gorman-Rupp Company, Flowserve Corporation, Atlas Copco AB, Ebara Corporation, and others.

The growing demand for submersible pumps is being driven by a rising adoption in industrial applications. Submersible pumps are useful in the agriculture and firefighting industries because they are lightweight, adaptable, and simple to deploy.

Due to the increased demand for crude oil and petroleum on a global scale, submersible pumps utilised in oil applications are expected to see a considerable increase in demand. This pattern is being supported by a rising demand for energy. Growing populations also increase the demand for residential buildings, thereby expanding the construction sector in emerging economies. Expansion of the construction sector is anticipated to support market expansion during the coming years.

Submersible Pump Industry Definition and Major Segments

A submersible pump is a motor which is airtight, sealed, and close-coupled to the pump body. This motor prevents pump cavitation and can be submerged completely in water. It is useful in a variety of applications due to its properties.

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On the basis of type, the market can be segmented into:

• Borewell Submersible Pump
• Openwell Submersible Pump
• Non-clog Submersible Pump

On the basis of drive type, the market can be categorised into:

• Electric
• Hydraulic
• Others

On the basis of head, the market can be divided into:

• Below 50 m
• Between 50 m and 100 m
• Above 100 m

On the basis of end user, the market can be divided into:

• Water and Wastewater
• Oil and Gas Industry
• Mining and Construction Industry
• Others

The regional markets include:

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

Submersible Pump Market Trends

Regionally, Asia Pacific is anticipated to hold a significant share in the submersible pump market. It is expected to be driven by the expansion of industrial facilities in countries such as China and India, owing to low raw material costs and favourable government policies. The growing concern about water scarcity is also increasing demand for submersible pumps to help with wastewater management. Furthermore, the region’s booming mining and construction industries are expected to provide a boost to the market during the forecast period.

Key Market Players

The major players in the global submersible pump market report are:

  • Baker Hughes Company
  • Schlumberger Limited
  • Halliburton Energy Services, Inc.
  • Weir Group PLC
  • Sulzer Ltd.
  • Grundfos Holding A/S
  • The Gorman-Rupp Company
  • Flowserve Corporation
  • Atlas Copco AB
  • Ebara Corporation
  • Others

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers, and acquisitions, among other latest developments of these market players.

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By KERA4D

Oliver James is a professional blogger, content marketer, traveler and entrepreneur. He's a full-time staff writer at zippyholidays, and he blogs about photography. Oliver is an avid reader of books, both fiction and non-fiction and enjoys reading about psychology, business, and self-development. You may Also Like: > cheap holidays > Residential Estimating Services

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