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 bore wells.
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.
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