A recent report published by Infinium Global Research on
submersible pumps market provides in-depth analysis of segments and
sub-segments in the global as well as regional submersible pumps market. The
study also highlights the impact of drivers, restraints, and macro indicators
on the global and regional submersible pumps market over the short term as well
as long term. The report is a comprehensive presentation of trends, forecast
and dollar values of global submersible pumps market. According to the report,
the global submersible pumps market is projected to grow at a CAGR of 5.7% over
the forecast period of 2019-2025.
The rising exploitation activities of shale reserve has resulted
in increased production of wastewater. The deficiency of water and government
regulation on wastewater treatment are encouraging the industry to treat the
produced water. The submersible pump system is the most effective artificial
lift methods of pumping fluids to the surface. Submersible pumps find wide
usage across multiple industrial applications and processes for trouble-free
extraction. Usually, it is used in the oil and gas industry due to its higher
efficiency, low maintenance, and low space requirements. Submersible pumps are
used to take out products from wells with low bottom hole pressure effectively.
The key purpose of the submersible pump is to lift water from narrow tunnels or
Growing need to treat wastewater generated from the industrial
sector is a major driving factor of the submersible pumps market. The demand
for the submersible pump is increasing due to its variety of applications
including sewage and drainage. Furthermore, factors such as lower initial
investment, increasing industrialization, declining groundwater levels, and
growing investment in infrastructure development are other driving factors of
the market. Rising demand for water in emerging economies such as India and
China owing to increasing construction agriculture activities is boosting the
market growth. However, the increasing cases of motor failure & high cost
of troubleshooting involved are restraining the growth of the market. Moreover,
the massive influx of investments in the oil & gas projects is expected to
provide wide growth opportunities to the market players.
Geographically, Asia-Pacific dominates the global submersible pump
market due to the expansion of industries, such as oil and gas, construction,
etc. in developing countries China and India. Increase in urbanization has
resulted in a substantial increase in produced wastewater in these countries.
China is experiencing rapid growth in urbanization rate which is resulting in
declining water quality. The Government of India has introduced several
projects to stimulate the agricultural sector that is anticipated to increase
the demand for submersible pumps in the country.
The report on global submersible pumps market covers segments such
as type, operation, power rating, and end use industry. On the basis of type,
the sub-markets include open well, and bore well. On the basis of operation,
the sub-markets include single stage, and multi stage. On the basis of power
rating, the sub-markets include low power, medium power, and high power. On the
basis of end use industry, the sub-markets include water & wastewater,
energy & power, mining & construction, and other industries.
The report provides profiles of the companies in the market such
as Sulzer AG, Xylem Inc., KSB Group, Grundfos Group, Halliburton Company, The
Gorman-Rupp Company, Ebara Corporation, Atlas Copco AB, Flowserve Corporation,
General Electric Company, and other companies.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of submersible
pumps market. Moreover, the study highlights current market trends and provides
forecast from 2019-2025. We also have highlighted future trends in the market
that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.