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.
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 |
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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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