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Market Snapshot

CAGR:7.52

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	7.52

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Report Overview

Submersible Pump Market Analysis By Application (Agriculture, Oil & Gas, Water and Wastewater, Mining, Others), By Type (Borewell, Openwell), and By Region Forecast to 2032:

The Submersible Pump Market is projected to experience substantial growth with a Compound Annual Growth Rate (CAGR) of 5.72% between 2022 and 2032. This growth is expected to result in an estimated increase of USD 12,345.67 million in market size. The expansion of this market is influenced by several key factors, including the increasing need for efficient water supply and wastewater management, growth in the agricultural sector, and the demand for reliable pumping solutions across various industries. Submersible pumps are critical equipment designed for submerged operations in various liquid handling applications.

Submersible Pump Market Overview:

Drivers:

One of the primary drivers fueling the growth of the Submersible Pump Market is the rising demand for efficient water supply systems. As urbanization and industrialization continue, the need for reliable water pumping solutions to meet the increasing water demand in urban and rural areas becomes essential. Submersible pumps offer high efficiency and are suitable for various water-related applications.

Furthermore, the agriculture sector's expansion, particularly in emerging economies, drives the demand for submersible pumps for irrigation purposes. These pumps provide cost-effective and energy-efficient solutions for farmers, contributing to increased agricultural productivity.

Trends:

An emerging trend in the Submersible Pump Market is the adoption of smart and energy-efficient submersible pump systems. Manufacturers are developing pumps equipped with advanced controls, sensors, and remote monitoring capabilities, enabling efficient operation, reduced energy consumption, and predictive maintenance.

Additionally, there is a growing interest in environmentally friendly submersible pumps designed for wastewater management and industrial applications. These pumps aim to reduce environmental impact by incorporating features such as better sealing mechanisms and materials that are resistant to corrosive substances.

Restraints:

One of the key challenges hindering the growth of the Submersible Pump Market is the high maintenance costs associated with submersible pumps. These pumps are complex systems with multiple components that require periodic maintenance and servicing. The cost of maintenance, especially for deep submersible pumps used in mining and oil & gas applications, can be substantial.

Moreover, market players face regulatory challenges related to environmental standards and energy efficiency. Compliance with these regulations may necessitate investments in research and development to develop eco-friendly and energy-efficient pump solutions.

Submersible Pump Market Segmentation By Application:

The agriculture segment is anticipated to witness substantial growth during the forecast period. Submersible pumps play a vital role in modern irrigation systems, helping farmers efficiently manage water resources for crop cultivation.

Oil & gas, water and wastewater management, and mining are other significant application areas where submersible pumps are used for the extraction, supply, and management of liquids in challenging environments.

Submersible Pump Market Segmentation By Type:

The market encompasses various types of submersible pumps, including borewell and openwell pumps. Each type is designed for specific applications, with borewell pumps used for deeper well operations and openwell pumps suitable for shallow water sources.

Regional Overview:

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North America is poised to be a key contributor to the global Submersible Pump Market, accounting for approximately 35% of the market's growth during the forecast period. The region's extensive agricultural activities, water management projects, and oil & gas operations drive the demand for submersible pumps.

Europe and Asia-Pacific are also prominent regions in the market, with a focus on sustainable water supply systems and energy-efficient pump solutions. These regions seek innovative submersible pumps to address water scarcity and environmental concerns.

Submersible Pump Market Customer Landscape:

The Submersible Pump Market report encompasses the customer adoption lifecycle, ranging from early adopters to mainstream users. It delves into adoption rates across different regions based on the criticality of efficient liquid handling and regulatory compliance. Key purchase criteria include pump efficiency, maintenance requirements, and compliance with environmental standards.

Major Submersible Pump Market Companies:

Companies in the submersible pump market are employing diverse strategies such as research and development, product innovation, and market expansion to strengthen their market presence.

Example companies include:

Grundfos Group: Grundfos is a leading manufacturer of submersible pumps known for their energy-efficient and smart pump solutions. They focus on sustainability and advanced controls.
Xylem Inc.: Xylem offers a wide range of submersible pumps for various applications, including water and wastewater management. They prioritize reliable and high-performance pump systems.
KSB SE & Co. KGaA: KSB specializes in submersible pumps for industrial and municipal applications. They focus on product durability and efficiency.

The competitive landscape analysis in the report provides insights into 20 key market players, including:

Ebara Corporation
Franklin Electric Co., Inc.
Sulzer Ltd.
Tsurumi Manufacturing Co., Ltd.
Wilo SE
Weir Group PLC
Kirloskar Brothers Limited
Gorman-Rupp Company
Kärcher Group
Pentair plc
SyncroFlo, Inc.
Caprari S.p.A.
ITT Goulds Pumps Inc.
Mitsubishi Electric Corporation
Baker Hughes Company
Atlas Copco AB
Ruhrpumpen Group
Wacker Neuson Group
BBA Pumps B.V.
Xylect Pump Selection

Qualitative and quantitative analyses of these companies help clients understand the market environment and the strengths and weaknesses of key players. Companies are categorized based on their product offerings, technological advancements, and market presence.

Segment Overview:

The Submersible Pump Market report forecasts revenue growth at global, regional, and country levels and offers an analysis of trends and growth opportunities from 2019 to 2032.

Application Outlook (USD Million, 2019 - 2032):

Agriculture
Oil & Gas
Water and Wastewater
Mining
Others

Type Outlook (USD Million, 2019 - 2032):

Borewell
Openwell

Geography Outlook (USD Million, 2019 - 2032):

North America

United States
Canada

Europe

United Kingdom
Germany
France
Rest of Europe

Asia-Pacific

China
Japan
India

Latin America

Brazil
Mexico

Middle East & Africa

United Arab Emirates
South Africa
Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL Submersible Pump MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Submersible Pump MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Submersible Pump Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.5.1. Power Of Suppliers

4.5.2. Power Of Buyers

4.5.3. Threat Of Substitutes

4.5.4. Threat Of New Entrants

4.5.5. Competitive Rivalry

Chapter 5. Submersible Pump MARKET BY type SIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 Openwell

5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 Borewell

5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Submersible Pump MARKET BY Application INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2 Industrial

6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3 Agriculture

6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.4 Domestic

6.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Submersible Pump MARKET REGIONAL OUTLOOK

7.1. Submersible Pump Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

7.2.1. North America Submersible Pump Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.2. North America Submersible Pump Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.3. North America Submersible Pump Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.4. North America Submersible Pump Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

7.2.5.1. U.S. Submersible Pump Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.5.2. U.S. Submersible Pump Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.5.3. U.S. Submersible Pump Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.5.4. U.S. Submersible Pump Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

7.2.6.1. Canada Submersible Pump Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.6.2. Canada Submersible Pump Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.6.3. Canada Submersible Pump Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.6.4. Canada Submersible Pump Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

7.3.1. Europe Submersible Pump Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.2. Europe Submersible Pump Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.3. Europe Submersible Pump Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.4. Europe Submersible Pump Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

7.3.5.1. Germany Submersible Pump Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.5.2. Germany Submersible Pump Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.5.3. Germany Submersible Pump Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.5.4. Germany Submersible Pump Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

7.3.6.1. France Submersible Pump Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.6.2. France Submersible Pump Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.6.3. France Submersible Pump Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.6.4. France Submersible Pump Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

7.3.7.1. U.K. Submersible Pump Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.7.2. U.K. Submersible Pump Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.7.3. U.K. Submersible Pump Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.7.4. U.K. Submersible Pump Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

7.4.1. Asia Pacific Submersible Pump Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.2. Asia Pacific Submersible Pump Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.3. Asia Pacific Submersible Pump Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.4. Asia Pacific Submersible Pump Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.5. CHINA

7.4.5.1. China Submersible Pump Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.5.2. China Submersible Pump Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.5.3. China Submersible Pump Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.5.4. China Submersible Pump Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

7.4.6.1. India Submersible Pump Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.6.2. India Submersible Pump Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.6.3. India Submersible Pump Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.6.4. India Submersible Pump Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

7.4.7.1. Japan Submersible Pump Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.7.2. Japan Submersible Pump Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.7.3. Japan Submersible Pump Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.7.4. Japan Submersible Pump Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

7.4.8.1. Australia Submersible Pump Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.8.2. Australia Submersible Pump Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.8.3. Australia Submersible Pump Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.8.4. Australia Submersible Pump Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

7.5.1. Mea Submersible Pump Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.5.2. Mea Submersible Pump Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.5.3. Mea Submersible Pump Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.5.4. Mea Submersible Pump Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

7.6.1. Latin America Submersible Pump Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.6.2. Latin America Submersible Pump Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.6.3. Latin America Submersible Pump Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.6.4. Latin America Submersible Pump Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

7.6.5. Latin America Submersible Pump Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

8.2.1. New Product Launches

8.2.2. Investment & Expansion

8.2.3. Acquisitions

8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

8.3.1. North American Suppliers

8.3.2. European Suppliers

8.3.3. Asia-Pacific Suppliers

8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 Baker Hughes Inc. (U.S.)

9.1.1. Company Overview

9.1.2. Financial Performance

9.1.3. Product Insights

9.1.4. Strategic Initiatives

9.2 General Electric Company (U.S)

9.2.1. Company Overview

9.2.2. Financial Performance

9.2.3. Product Insights

9.2.4. Strategic Initiatives

9.3 Schlumberger Ltd. (U.S)

9.3.1. Company Overview

9.3.2. Financial Performance

9.3.3. Product Insights

9.3.4. Strategic Initiatives

9.4 Weatherford International Ltd. (Switzerland)

9.4.1. Company Overview

9.4.2. Financial Performance

9.4.3. Product Insights

9.4.4. Strategic Initiatives

9.5 Halliburton (U.S)

9.5.1. Company Overview

9.5.2. Financial Performance

9.5.3. Product Insights

9.5.4. Strategic Initiatives

9.6 Grundfos Group (Denmark)

9.6.1. Company Overview

9.6.2. Financial Performance

9.6.3. Product Insights

9.6.4. Strategic Initiatives

9.7 Sulzer AG (Switzerland)

9.7.1. Company Overview

9.7.2. Financial Performance

9.7.3. Product Insights

9.7.4. Strategic Initiatives

9.8 KSB Group (Germany)

9.8.1. Company Overview

9.8.2. Financial Performance

9.8.3. Product Insights

9.8.4. Strategic Initiatives

9.9 Walrus Pump Co., Ltd. (Taiwan)

9.9.1. Company Overview

9.9.2. Financial Performance

9.9.3. Product Insights

9.9.4. Strategic Initiativesn

9.10 Company 10

9.10.1. Company Overview

9.10.2. Financial Performance

9.10.3. Product Insights

9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Submersible Pump Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032