by The global Submersible pumps market size was estimated to be around US$ 12.61 billion in 2023. It is projected to reach US$ 19.40 billion by 2032, indicating a CAGR of 4.90% from 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.
The market research report on the Submersible pumps market provides a comprehensive analysis of various key aspects. It includes the definition, classification, and application of Submersible pumps products. The report examines the development trends, competitive landscape, and industrial chain structure within the industry. Furthermore, it presents an overview of the industry, analyzes national policies and planning, and offers insights into the latest market dynamics and opportunities at a global level.
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Drivers:
The submersible pumps market is propelled by several key drivers that contribute to its growth and prominence in various industries. One primary driver is the increasing demand for efficient water management solutions across agricultural, industrial, and municipal sectors. Submersible pumps play a crucial role in ensuring reliable and consistent water supply, thereby addressing the escalating global water scarcity challenges.
Another significant driver is the rapid urbanization and industrialization observed globally. As urban areas expand and industrial activities intensify, there is a heightened need for reliable pumping systems to manage wastewater, drainage, and various fluid transfer applications. Submersible pumps, with their versatility and ability to operate in submerged conditions, emerge as a preferred choice to meet these demands efficiently.
Technological advancements also drive the submersible pumps market forward. Innovations such as energy-efficient pump designs, smart monitoring systems, and durable materials contribute to enhanced pump performance and longer operational lifespans. These technological advancements align with the growing emphasis on sustainability, energy conservation, and reduced maintenance costs, driving the adoption of submersible pumps in diverse applications.
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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Market Trends:
The submersible pumps market is witnessing notable trends that shape its trajectory and adaptation in different industries. One key trend is the rising preference for solar-powered submersible pumps. As sustainability becomes a focal point for businesses and communities, solar-powered pumps offer an eco-friendly alternative, reducing dependence on traditional power sources and lowering operational costs in remote or off-grid locations.
Furthermore, there is a growing inclination towards the adoption of smart submersible pump systems. Integrating IoT (Internet of Things) technology allows for real-time monitoring, predictive maintenance, and remote control, optimizing operational efficiency and minimizing downtime. This trend aligns with the broader shift towards Industry 4.0 practices across various sectors.
Additionally, regional market dynamics contribute to emerging trends, with a notable focus on developing markets experiencing increased demand for submersible pumps due to infrastructure development and agricultural expansion. Conversely, mature markets witness a surge in replacement demand, driven by the need for upgrading outdated pump systems with more efficient and technologically advanced solutions.
Reasons to Purchase this Report:
- Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
- In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
- Market size in USD million and volume in million units provided for each segment and sub-segment.
- Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
- Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.
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
Segments Covered in the Report
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
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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