April 24, 2024

Submersible Pumps Market Size to Garner USD 19.40 Billion by 2032

The global Submersible pumps market size was estimated to be around US$ 12.61 billion in 2023. It is projected to reach US$ 19.40 billion by 2032, indicating a CAGR of 4.90% from 2023 to 2032.

Submersible Pumps Market Size 2023 To 2032

Key Takeaways

  • Asia-Pacific contributed more than 41% of market share in 2022.
  • North America is estimated to expand the fastest CAGR between 2023 and 2032.
  • By product, the borewell segment has held the largest market share of 39% in 2022.
  • By product, the openwell segment is anticipated to grow at a remarkable CAGR of 5.5% between 2023 and 2032.
  • By drive, the electric segment generated over 45% of the market share in 2022.
  • By drive, the hydraulic segment is expected to expand at the fastest CAGR over the projected period.
  • By end user, the agriculture segment generated over 26% of revenue share in 2022.
  • By end user, the chemical segment is expected to expand at the fastest CAGR over the projected period.

The market research report on the Submersible pumps market provides a comprehensive analysis of various key aspects. It includes the definition, classification, and application of Submersible pumps products. The report examines the development trends, competitive landscape, and industrial chain structure within the industry. Furthermore, it presents an overview of the industry, analyzes national policies and planning, and offers insights into the latest market dynamics and opportunities at a global level.

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Drivers:

The submersible pumps market is propelled by several key drivers that contribute to its growth and prominence in various industries. One primary driver is the increasing demand for efficient water management solutions across agricultural, industrial, and municipal sectors. Submersible pumps play a crucial role in ensuring reliable and consistent water supply, thereby addressing the escalating global water scarcity challenges.

Another significant driver is the rapid urbanization and industrialization observed globally. As urban areas expand and industrial activities intensify, there is a heightened need for reliable pumping systems to manage wastewater, drainage, and various fluid transfer applications. Submersible pumps, with their versatility and ability to operate in submerged conditions, emerge as a preferred choice to meet these demands efficiently.

Technological advancements also drive the submersible pumps market forward. Innovations such as energy-efficient pump designs, smart monitoring systems, and durable materials contribute to enhanced pump performance and longer operational lifespans. These technological advancements align with the growing emphasis on sustainability, energy conservation, and reduced maintenance costs, driving the adoption of submersible pumps in diverse applications.

Submersible Pumps Market Scope

Report Coverage Details
Market Size in 2023 USD 12.61 Billion
Market Size by 2032 USD 19.40 Billion
Growth Rate from 2023 to 2032 CAGR of 4.90%
Largest Market Asia-Pacific
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered By Product, By Drive, and By End User
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Read More: Wound Care Market Size To Rise USD 35.33 Billion By 2032

Market Trends:

The submersible pumps market is witnessing notable trends that shape its trajectory and adaptation in different industries. One key trend is the rising preference for solar-powered submersible pumps. As sustainability becomes a focal point for businesses and communities, solar-powered pumps offer an eco-friendly alternative, reducing dependence on traditional power sources and lowering operational costs in remote or off-grid locations.

Furthermore, there is a growing inclination towards the adoption of smart submersible pump systems. Integrating IoT (Internet of Things) technology allows for real-time monitoring, predictive maintenance, and remote control, optimizing operational efficiency and minimizing downtime. This trend aligns with the broader shift towards Industry 4.0 practices across various sectors.

Additionally, regional market dynamics contribute to emerging trends, with a notable focus on developing markets experiencing increased demand for submersible pumps due to infrastructure development and agricultural expansion. Conversely, mature markets witness a surge in replacement demand, driven by the need for upgrading outdated pump systems with more efficient and technologically advanced solutions.

Reasons to Purchase this Report:

  • Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
  • In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
  • Market size in USD million and volume in million units provided for each segment and sub-segment.
  • Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
  • Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.

Submersible Pumps Market Players

  • Grundfos
  • Xylem Inc.
  • Sulzer Ltd.
  • KSB SE & Co. KGaA
  • Flowserve Corporation
  • Franklin Electric Co., Inc.
  • Ebara Corporation
  • Tsurumi Manufacturing Co., Ltd.
  • WILO SE
  • Halliburton
  • Baker Hughes
  • The Gorman-Rupp Company
  • Weir Group PLC
  • Kirloskar Brothers Limited
  • Ruhrpumpen Group

Segments Covered in the Report

By Product

  • Borewell
  • Openwell
  • Non-Clog

By Drive

  • Electric
  • Hydraulic
  • Others

By End User

  • Agriculture
  • Construction & Building Services
  • Water & Wastewater
  • Power Generation
  • Oil & Gas
  • Chemical
  • Others

By Geography

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

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Submersible Pumps Market 

5.1. COVID-19 Landscape: Submersible Pumps Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Submersible Pumps Market, By Product

8.1. Submersible Pumps Market Revenue and Volume, by Product, 2023-2032

8.1.1 Borewell

8.1.1.1. Market Revenue and Volume Forecast (2020-2032)

8.1.2. Openwell

8.1.2.1. Market Revenue and Volume Forecast (2020-2032)

8.1.3. Non-Clog

8.1.3.1. Market Revenue and Volume Forecast (2020-2032)

Chapter 9. Global Submersible Pumps Market, By Drive

9.1. Submersible Pumps Market Revenue and Volume, by Drive, 2023-2032

9.1.1. Electric

9.1.1.1. Market Revenue and Volume Forecast (2020-2032)

9.1.2. Hydraulic

9.1.2.1. Market Revenue and Volume Forecast (2020-2032)

9.1.3. Others

9.1.3.1. Market Revenue and Volume Forecast (2020-2032)

Chapter 10. Global Submersible Pumps Market, By End User 

10.1. Submersible Pumps Market Revenue and Volume, by End User, 2023-2032

10.1.1. Agriculture

10.1.1.1. Market Revenue and Volume Forecast (2020-2032)

10.1.2. Construction & Building Services

10.1.2.1. Market Revenue and Volume Forecast (2020-2032)

10.1.3. Water & Wastewater

10.1.3.1. Market Revenue and Volume Forecast (2020-2032)

10.1.4. Power Generation

10.1.4.1. Market Revenue and Volume Forecast (2020-2032)

10.1.5. Oil & Gas

10.1.5.1. Market Revenue and Volume Forecast (2020-2032)

10.1.6. Chemical

10.1.6.1. Market Revenue and Volume Forecast (2020-2032)

10.1.7. Others

10.1.7.1. Market Revenue and Volume Forecast (2020-2032)

Chapter 11. Global Submersible Pumps Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.1.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.1.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.1.4. U.S.

11.1.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.1.4.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.1.4.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.1.5.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.1.5.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.2. Europe

11.2.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.2.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.2.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.2.4. UK

11.2.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.2.4.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.2.4.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.2.5. Germany

11.2.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.2.5.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.2.5.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.2.6. France

11.2.6.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.2.6.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.2.6.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.2.7.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.2.7.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.3. APAC

11.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.3.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.3.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.3.4. India

11.3.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.3.4.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.3.4.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.3.5. China

11.3.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.3.5.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.3.5.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.3.6. Japan

11.3.6.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.3.6.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.3.6.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.3.7.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.3.7.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.4. MEA

11.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.4.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.4.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.4.4. GCC

11.4.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.4.4.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.4.4.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.4.5. North Africa

11.4.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.4.5.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.4.5.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.4.6. South Africa

11.4.6.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.4.6.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.4.6.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.4.7.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.4.7.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.5. Latin America

11.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.5.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.5.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.5.4. Brazil

11.5.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.5.4.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.5.4.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.5.5.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.5.5.3. Market Revenue and Volume Forecast, by End User (2020-2032)

Chapter 12. Company Profiles

12.1. Grundfos

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. Xylem Inc.

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. Sulzer Ltd.

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. KSB SE & Co. KGaA

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. Flowserve Corporation

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. Franklin Electric Co., Inc.

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. Ebara Corporation

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. Tsurumi Manufacturing Co., Ltd.

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. WILO SE

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

12.10. Halliburton

12.10.1. Company Overview

12.10.2. Product Offerings

12.10.3. Financial Performance

12.10.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

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Prathamesh

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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