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Written by Jack » Updated on: October 23rd, 2024
Browse 7 Tables and 108 Figures spread through 110 Pages and an in-depth TOC on the "Global Submersible Pumps Market."
According to a report by TechSci Research, the Global submersible pumps market stood at $ 9.9 billion in 2018 and is anticipated to grow at a CAGR of around 7% to reach $ 19.3 billion by 2028. Submersible pumps are utilized to push fluids from submerged positions to the surface, making them highly sought-after in the industrial and agricultural sectors. The market is expected to witness significant growth during the forecast period due to increasing industrialization, substantial investments in infrastructure, and developments in water treatment facilities worldwide. Additionally, the rising number of manufacturing units in industries such as food & beverages, pharmaceuticals, and chemicals is anticipated to further drive the demand for submersible pumps globally.
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Report Scope:
In this report, the global submersible pumps market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Market, by Type:
Market, by Mode of Operation:
Market, by Power Rating:
Market, by Head:
Market, by Applications:
Market, by Geography:
Asia-Pacific
Europe
North America
Middle East & Africa
South America
The global submersible pumps market is segmented into three main categories based on type: open well submersible pumps, borewell submersible pumps, and non-clog submersible pumps. Among these, non-clog submersible pumps are the most commonly used type due to their compact size, low noise levels, easy installation and maintenance, and reduced risk of cavitation damage. Asia-Pacific held the largest market share in 2018, driven by the robust growth of the industrial sector and declining freshwater resources in the region. The increasing application of submersible pumps in the oil & gas industry and the growing deep-water exploration activities are expected to further fuel the demand for submersible pumps in Asia-Pacific during the forecast period. Moreover, the demand for wastewater treatment facilities is anticipated to rise in countries like India and China due to rapid urbanization.
Key Market Players in the Submersible Pumps Market are:
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Mr. Karan Chechi, Research Director at TechSci Research, stated, “Growing population, increasing demand for food & beverage products, and freshwater among consumers are driving the demand for submersible pumps for water extraction and circulation systems globally. Furthermore, increasing investments to modernize existing water supply systems and the growing applications such as groundwater pumping and subsea operations are expected to propel the growth of the global submersible pumps market during the forecast period.”
The report "Global Submersible Pumps Market By Type, By Mode of Operation, By Power Rating, By Head, By Sector, By Application, By Region, Competition Forecast & Opportunities, 2028" provides insights into the future growth potential of the global submersible pumps market, including statistics and information on market size, structure, and future growth. It aims to offer comprehensive market intelligence to help decision-makers make informed investment decisions. Additionally, the report identifies and analyzes emerging trends, essential drivers, challenges, and opportunities in the global submersible pumps market.
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