April 18, 2024

Submersible Pumps Market Size To Rake USD 19.40 Bn By 2032

The submersible pumps market size is poised to grow by USD 19.40 billion by 2032 from USD 12.61 billion in 2023, exhibiting a CAGR of 4.90% during the forecast period 2023-2032. 

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.

Precedence Research has conducted a comprehensive market study that provides valuable insights into the performance of the market during the forecast period. The study identifies significant trends that are shaping the growth of the Submersible pumps market. In this recently published report, essential dynamics such as drivers, restraints, and opportunities are highlighted for both established market players and emerging participants involved in production and supply.

To begin with, the Submersible pumps Market report features an executive summary that offers a concise overview of the marketplace. It outlines the key players and industry categories expected to have an impact on the market in the coming years. The executive summary provides an unbiased summary of the market.

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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 Rake USD 35.33 Bn By 2032

Opportunities:

  • Growing Demand: As industries expand, there’s an increasing need for efficient water management, boosting the demand for submersible pumps.
  • Technological Advancements: Continuous innovation in pump technology provides opportunities for more energy-efficient and durable submersible pumps.
  • Global Infrastructure Projects: Large-scale infrastructure projects worldwide, such as urban development and water supply initiatives, create a substantial market for submersible pumps.
  • Agricultural Expansion: The agriculture sector’s growth requires reliable water supply, presenting opportunities for submersible pumps in irrigation systems.

Challenges:

  • High Initial Cost: The upfront cost of submersible pumps can be a barrier for some consumers, especially in regions with budget constraints.
  • Maintenance Complexity: Submersible pumps may require specialized maintenance, and accessing them for repairs can be challenging, especially in deep installations.
  • Environmental Impact: Improper disposal of old pumps or leakage of contaminants from submersible pumps can have adverse effects on the environment.
  • Competition and Market Saturation: The market for submersible pumps is competitive, and saturation in some regions may pose challenges for new market entrants.

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

Data Sources and Methodology

To gather comprehensive insights on the Global Submersible pumps Market, we relied on a range of data sources and followed a well-defined methodology. Our approach involved interactions with industry experts and key stakeholders across the market’s value chain, including management organizations, processing organizations, and analytics service providers.

We followed a rigorous data analysis process to ensure the quality and credibility of our research. The gathered information was carefully evaluated, and relevant quantitative data was subjected to statistical analysis. By employing robust analytical techniques, we were able to derive meaningful insights and present a comprehensive overview of the Global Submersible pumps Market.

The most resonating, simple, genuine, and important causes because of which you must decide to buy the Submersible pumps market report exclusively from precedence research

  • The research report has been meticulously crafted to provide comprehensive knowledge on essential marketing strategies and a holistic understanding of crucial marketing plans spanning the forecasted period from 2023 to 2032.

Key Features of the Report:

  • Comprehensive Coverage: The report extensively encompasses a detailed explanation of highly effective analytical marketing methods applicable to companies across all industry sectors.
  • Decision-Making Enhancement: It outlines a concise overview of the decision-making process while highlighting key techniques to enhance it, ensuring favorable business outcomes in the future.
  • Articulated R&D Approach: The report presents a well-defined approach to conducting research and development (R&D) activities, enabling accurate data acquisition on current and future marketing conditions.

Market Segmentation:

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

Reasons to Consider Purchasing the Report:

  • Enhance your market research capabilities by accessing this comprehensive and precise report on the global Submersible pumps market.
  • Gain a thorough understanding of the overall market landscape and be prepared to overcome challenges while ensuring robust growth.
  • Benefit from in-depth research and analysis of the latest trends shaping the global Submersible pumps market.
  • Obtain detailed insights into evolving market trends, current and future technologies, and strategic approaches employed by key players in the global Submersible pumps market.
  • Receive valuable recommendations and guidance for both new entrants and established players seeking further market expansion.
  • Discover not only the cutting-edge technological advancements in the global Submersible pumps market but also the strategic plans of industry leaders.

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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