According to Future Market Insights (FMI), the Southeast Asia submersible pumps market will be worth $1,076.8 million in 2032. It is expected to grow steadily at a CAGR of 5.5% between 2022 and 2032. Bore well submersible pumps are expected to account for more than 56.9% of the market in the region by 2022, owing to their increasing end-use applications.
Water scarcity has recently emerged as a major issue in both developed and developing economies, fueling demand for new water sources capable of meeting Southeast Asia’s industrial and domestic water demands. The use of wastewater treatment to alleviate water constraints is becoming more popular, which is driving the South Asia submersible pump market.
Furthermore, the market is expected to be driven by Southeast Asia’s rapidly growing oil and gas, utility, construction, and mining sectors. Submersible pumps account for approximately 5-7% of the global market due to their increasing use in a variety of end-use industries such as agriculture, residential, commercial, and water utility construction.
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Many submersible pump manufacturers are focusing on launching innovative products that are both affordable and efficient in order to increase sales. They are primarily concerned with meeting the increased demand for their products from new public and private projects. Several local businesses are investing in the development of advanced manufacturing facilities.
Key Takeaways of Southeast Asia Submersible Pump Market Study
- Based on head type, the above 100m segment is expected to reach a valuation of about US$ 808.4 Mn by 2032 and exhibit a CAGR of 5.4% during 2022 to 2032.
- In terms of product type, the borewell segment is anticipated to account for more than 56% of the Southeast Asia submersible pumps market share by 2032.
- In Southeast Asia, Indonesia is projected to hold a significant market share of about 28% in the evaluation period.
- From 2017 to 2021, the Southeast Asia submersible pumps market exhibited growth at a CAGR of 5.2%.
- Sales of submersible pumps are projected to soar between 2022 and 2032 at a CAGR of about 5.5% in Southeast Asia.
“Domestic governments are putting a lot of efforts into expanding their economies and spending extensively on the construction of smart factories & infrastructure. It is anticipated to increase sales of submersible pumps throughout the assessment period.,” says a Future Market Insights analyst.
Competitive Landscape: Southeast Asia Submersible Pump Market
The Southeast Asia submersible pumps market is highly fragmented and significantly influenced by leading producers. Owing to rapid technological improvements, industry leaders are seeking to enhance their market share by investing in the creation of new product lines and updating their current product lines.
Some of the renowned firms are growing by boosting their supply chain, extending their production facilities, and unveiling cost-effective products to strengthen their market positions. Key players in the market include Xylem Inc., KSB SE & Co. KGaA, Grundfos, Ebara Corporation, and WILO SE among others.
Find More Valuable Insights into Southeast Asia Submersible Pump Market
The research report analyzes the market demand trends for submersible pumps. The Southeast Asia market estimation and growth projection are based on factors like end-use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of submersible pumps. As per Future Market Insights research scope, the submersible pump market has been studied and segmented on the basis of product type, head type and application. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, the supply side and demand side.
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Key Segments Covered in Submersible Pumps Industry Analysis
By Head Type:
- Below 50 m
- 50 – 100m
- Above 100m
By Product Type:
- Borewell
- Non-Clog
- Open Well
By Application:
- Agriculture
- Infrastructure & Mining
- Residential
- Industrial Water Supply
- Oil & Gas
- Fire Fighting
- Non Industrial Water Supply
- Others
By Country:
- Indonesia
- Malaysia
- Thailand
- Vietnam
- Philippines
- Singapore
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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