Submersible Pumps Market by Type (Electric, Hydraulic, Air-Driven), Application (Open Pit, Borewell), Operation (Single-stage, Multi-stage), Power Rating (<1, 1-5, 5-15, >15 HP), Sector (Industrial, Agricultural, Domestic), Region - Global Forecasts to 2025

Publisher: MarketsandMarkets
Publication Date: December, 2020
Energy & Utility / Equipment and Technology
Pages: 204
Delivery Format: PDF

by Type (Electric, Hydraulic, Air-Driven), Application (Open Pit, Borewell), Operation (Single-stage, Multi-stage), Power Rating (<1, 1-5, 5-15, >15 HP), Sector (Industrial, Agricultural, Domestic), Region

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The submersible pumps market is projected to reach USD 15.5 billion by 2025 from an estimated USD 11.2 billion in 2020, at a CAGR of 6.7% during the forecast period. Increasing investments in construction industry attributing to rapid urbanization, and high demand for submersible pumps in agricultural sector are the key factors driving the growth of the submersible pumps market. Likewise, the up-gradation of aging and construction of new water & wastewater treatment facilities and adoption of solar-powered submersible pumps are expected to offer lucrative opportunities for the submersible pumps market during the forecast period. However, motor failure & high troubleshooting cost hinder the growth of the market. “The open pit, by application, is expected to be the fastest-growing market from 2020 to 2025.” The open-pit segment is projected to grow at the highest CAGR from 2020 to 2025. Open-pit submersible pump does not require a separate foundation or a pump house; it operates directly under submerged conditions. Open pit submersible pumps are expected to witness the highest demand from industrial applications, particularly from the water supply and treatment sector, as well as the mining and construction industries, where they play an important role in dewatering open pits. “The electrical submersible pumps, by type, is expected to be the largest market from 2020 to 2025.” The report segments the submersible pumps market, by type, into electrical, hydraulic, and air-driven. The electrical segment is expected to hold the largest market share, and grow at the highest CAGR during the forecast period owing to its high reliability and efficiency, and as it never has to be primed as it is already submerged in the fluid. These pumps can handle both solids & liquids and are used across numerous sectors to boost production. “Asia Pacific: The fastest growing region in the submersible pumps market.” Asia Pacific is expected to grow at the highest CAGR during the forecast period. Asia Pacific region has been segmented, by country, into China, India, Australia, Indonesia, Japan, and Rest of Asia Pacific. Rest of Asia Pacific includes Malaysia, Thailand, Philippines, and South Korea. The region’s domination can be attributed to rapid economic expansion. The region is attracting investors to set up production facilities because of the availability of raw materials and labor at lower prices. Industrial activities are growing due to low manufacturing costs and the support of the local governments. Increasing investments in R&D is also one of the factors driving the submersible pumps market in Asia Pacific. Breakdown of Primaries: In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows: By Company Type: Tier 1- 59%, Tier 2- 26%, and Tier 3- 15% By Designation: C-Level- 62%, D-Level- 20%, and Others- 18% By Region: Asia Pacific- 30%, North America- 25%, Europe- 20%, Middle East & Africa – 15%, and South America-10% Note: “Others” include sales managers, engineers, and regional managers The tiers of the companies are defined based on their total revenue as of 2019: Tier 1: >USD 1 billion, Tier 2: USD 500 million–1 billion, and Tier 3:

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Submersible Pumps Market by Type (Electric, Hydraulic, Air-Driven), Application (Open Pit, Borewell), Operation (Single-stage, Multi-stage), Power Rating (<1, 1-5, 5-15, >15 HP), Sector (Industrial, Agricultural, Domestic), Region - Global Forecasts to 2025

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