Due to delays in routine business operations and a reduction in the availability of raw materials, the global COVID-19 pandemic has severely hampered output and growth in a number of industries. The study provides useful and actionable market information for submersible pumps. The most recent research from Fact.MR includes historical market data and industry forecasting along with information on the market’s current state in several countries. The study also provides data on the Submersible Pump Market’s sales and demand across various sectors and geographical areas.
The industry is predicted to grow at a rate of about 4.8% CAGR through 2031 and surpass a valuation of about US$ 9 Bn by 2021, according to a new analysis by Fact.MR on the global submersible pump market. The water and wastewater treatment sector is predicted to have particularly high demand, generating a market potential worth US$ 141.7 Mn by 2031.
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Key Segments Covered
- Borewell Submersible Pumps
- Non-Clog Submersible Pumps
- Open Well Submersible Pumps
- Head Type
- Submersible Pumps Below 50 mm
- Submersible Pumps between 50-100 mm
- Submersible Pumps Above 100 mm
- Submersible Pumps for Agriculture
- Submersible Pumps for Construction
- Submersible Pumps for Fire Fighting
- Submersible Pumps for Water & Wastewater Treatment
- Submersible Pumps for Mining
- Submersible Pumps for Oil & Gas
- Submersible Pumps for Other Industrial Applications
The competitive landscape of the submersible pump market is shaped by product innovation and strategic mergers & acquisitions. Front Runners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies. Some notable developments are as follows:
- In August 2021, Kubota Corporation owned Kubota Construction Co. Ltd. signed a contract for the Project for Expansion of the Water Supply System in Pursat City, Cambodia. The agreements aims at supplying safe potable water to all residents, which will augment the need for submersible pumps to water treatment
- In May 2021, the KSB Group launched the youngest generation of its time-tested submersible grey water pumps: the AmaDrainer 3 type series. The new development of these pumps, available in four sizes, is the manufacturer’s response to customer requests for a design that is more compact and easy to handle. These pumps are highly robust, designed for continuous duty at a fluid temperature of 70o C and also up to 90o C
Key Takeaways of Submersible Pump Market Study:
- The global submersible pump market is expected to grow at a sluggish CAGR of 3.3% in terms of volume and it is anticipated to expand 1.4X from 2020 through 2030.
- Borewell submersible pumps will hold the maximum share in terms of value and are projected to create an absolute dollar opportunity of US$ 1.7 billion during the forecast period.
- Submersible pumps with head above 100 meters are expected to grow at a CAGR of 3.8% in terms of value, and are slated to gain 73 BPS on their market share by the end of the forecast period.
- By application, mining is projected to account for a majority share in terms of value, and will create an absolute $ opportunity of more than US$ 1.8 billion during the forecast period.
- Europe is forecast to hold maximum share in terms of value. The region is expected to lose 160 BPS from its market share in terms of value by the end of forecast period.
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