Submersible Pumps Market Technology Development 2022, Global Demands, Size, Shares and Trends – KSB Group, Flowserve Corp, EBARA, Tsurumi Manufacturing, Gorman-Rupp
Research Reports
Jun 09, 2022
The Submersible Pumps market is growing pervasively, witnessing an exponential growth backed by the increasing investments, competitive activities, global developments, opportunity, and business trends during forecast period 2022 to 2030.
Submersible Pumps Market Overview
Submersible Pumps Market is projected to be worth USD 24.78 billion by 2030, registering a CAGR of 7.22% during the forecast period (2022 – 2030). The growing demand for offshore exploration and subsea production activities in the oil and gas sector is likely to be a major driver for the global submersible pumps market over the forecast period. The falling levels of onshore oil and gas reservoirs have led to an increased interest in offshore exploration and production. The increasing profitability of offshore ventures has led to a steady rise in government as well as private funding for the sector, resulting in a growing demand for accessories such as submersible pumps. This is likely to be a major driver for the global submersible pumps market over the forecast period.
Submersible Pumps market demonstrates a high growth potential which is likely to attract many entrants to the market resultantly, intensifying the competition further. Manufacturers strive to develop innovative materials, and best practices. Incorporating acquisition, collaboration, partnership, and expansion the well-established players gain the competitive advantage to maintain their market position. Also, they make substantial investments in manufacturing & expansion program. Expansions help in reducing logistic cost and increase production capacities and potential to fetch larger turnovers.
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Most important Segments of Submersible Pumps market covered in this report are,
The global submersible pumps market is segmented by well type, operation, power rating, end-use industry, and region.
By well type, the market is segmented into open well and bore well. The bore well segment is expected to exhibit the dominant share in the global submersible pumps market over the forecast period. The bore well segment accounted for close to 66% of the global submersible pumps market in 2017 and is likely to remain similarly dominant over the forecast period and beyond.
By operation, the market is segmented into single-stage and multi-stage. Multi-stage configurations accounted for a majority share of more than 68% in the market in 2017 and are likely to remain the dominant contributor to the market over the forecast period.
By power rating, the submersible pumps market is segmented into low power, medium power, and high power. The high power segment accounted for the highest share in the global market in 2017 and is likely to remain a major contributor over the forecast period. The high power segment accounted for 41.46% of the global submersible pumps market in 2017.
By end use, the market is segmented into water and wastewater, agriculture and irrigation, construction, mining, oil and gas, and others. The water and wastewater industry is likely to remain the leading end-use segment of the global submersible pumps market over the forecast period, having accounted for 39.85% of the market in 2017.
Submersible Pumps Industry Influence of the global market report:
- Comprehensive assessment of all opportunities and risks in the Submersible Pumps Market.
- Submersible Pumps Market recent innovations and major events.
- A detailed study of business strategies for the growth of the Submersible Pumps Market market-leading players.
- Conclusive study about the growth plot of Submersible Pumps Market for forthcoming years.
- In-depth understanding of Submersible Pumps Market, market-particular drivers, constraints, and major micro markets.
- Favorable impression inside vital technological and market latest trends striking the Submersible Pumps Market.
Globally Major key Players accelerates the Submersible Pumps Market are, Xylem (U.S.), KSB Group (Germany), Flowserve Corporation (U.S.), EBARA CORPORATION (Japan), Tsurumi Manufacturing Co. Ltd. (Japan), The Gorman-Rupp Company (U.S.), Atlas Copco AB (Sweden), The Weir Group PLC (U.K.), Sulzer Ltd. (Switzerland), and Grundfos (Denmark).
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Submersible Pumps Market Regional Analysis
By region, the global submersible pumps market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific is likely to be the leading contributor to the global submersible pumps market over the forecast period due to the growing offshore exploration and production activities in countries such as China. The growing water and wastewater industry in countries such as China and India, who are looking to modernize their water management procedures and manage the demands of their growing populations, is also likely to be major driver for the submersible pumps market in Asia Pacific, which accounted for close to 42% of the global submersible pumps market in 2017.
LIST OF TABLES
TABLE 1 GLOBAL SUBMERSIBLE PUMP MARKET, BY INDUSTRY, 2020-2027 (USD MILLION) 34
TABLE 2 GLOBAL SUBMERSIBLE PUMP MARKET, BY WELL TYPE, 2020-2027 (USD MILLION) 37
TABLE 3 GLOBAL SUBMERSIBLE PUMP MARKET, BY OPERATION, 2020-2027 (USD MILLION) 39
TABLE 4 GLOBAL SUBMERSIBLE PUMP MARKET, BY POWER RATING, 2020-2027 (USD MILLION) 41
TABLE 5 GLOBAL SUBMERSIBLE PUMP MARKET, BY REGION, 2020-2027 (USD MILLION) 44
TABLE 6 NORTH AMERICA: SUBMERSIBLE PUMP MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 45
TABLE 7 NORTH AMERICA: SUBMERSIBLE PUMP MARKET, BY WELL TYPE, 2020-2027 (USD MILLION) 45
TABLE 8 NORTH AMERICA: SUBMERSIBLE PUMP MARKET, BY OPERATION, 2020-2027 (USD MILLION) 45
TABLE 9 NORTH AMERICA: SUBMERSIBLE PUMP MARKET, BY POWER RATING, 2020-2027 (USD MILLION) 46
TABLE 10 NORTH AMERICA: SUBMERSIBLE PUMP MARKET, BY INDUSTRY, 2020-2027 (USD MILLION) 46
TABLE 11 US: SUBMERSIBLE PUMP MARKET, BY WELL TYPE, 2020-2027 (USD MILLION) 47
TABLE 12 US: SUBMERSIBLE PUMP MARKET, BY OPERATION, 2020-2027 (USD MILLION) 47
TABLE 13 US: SUBMERSIBLE PUMP MARKET, BY POWER RATING, 2020-2027 (USD MILLION) 48
TABLE 14 US: SUBMERSIBLE PUMP MARKET, BY INDUSTRY, 2020-2027 (USD MILLION) 48
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