Rising Need for Efficient Water Management Solutions to Fuel Growth of the Submersible Pump Market by 2031

The global submersible pump market is expected to reach US$ 14.45 billion by 2031, up from US$ 8.42 billion in 2020, according to FMI’s extensive analysis. Submersible pump demand from the construction, mining, and oil and gas industries is driving market growth. As a result, the market is expected to grow at a 5.2% CAGR between 2021 and 2031.

As a result of rapid urbanisation and industrialization, water scarcity has emerged as one of the world’s most pressing issues. As a result, increased emphasis on wastewater treatment and demand for new water sources, such as ground water reservoirs, to meet domestic and industrial water needs are driving market demand. As a result, submersible pump sales are expected to rise 4.6% year on year in 2021.

Governments in emerging markets are stepping up efforts to improve rural and urban access to safe drinking water. According to the Department of Drinking Water and Sanitation, the Indian government has launched the “Jal Jeevan Mission” to improve water accessibility across the country. Such initiatives are expected to provide lucrative market expansion opportunities.

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Based on product type, borewell submersible pumps outrank other pumps, accounting for nearly 55.3% of the total sales in the market in 2021. Increasing application in gardening, firefighting systems, and domestic water supply owing to its vertical as well as horizontal installation is driving the growth in the segment.

“Increasing exploration of shale reserves and implementation of stringent wastewater treatment norms to support recovery across the mining and oil & gas industries are expected to augment the growth in the market,” says a FMI analyst.

Key Takeaways from Submersible Pumps Market Study

  • The market in the U.S. is estimated to witness the fastest growth in North America, expanding at a CAGR of 3.2% during the forecast period.
  • Germany is expected to emerge as a highly remunerative market in Europe, creating an absolute dollar opportunity of US$ 175.6 Mn through 2031.
  • China is anticipated to account for the largest share in the East Asia market, exhibiting sales growth at a CAGR of 6.1% between 2021 and 2031.
  • India is forecast to hold a considerable revenue share in South Asia, accounting for 1/3rd of the sales in the region by 2031.
  • In terms of head type, the above 100m segment is projected to dominate the market, accounting for nearly 71.3% of the demand share in 2021.

Key Drivers

  • High degree of water stress and increasing focus on catering to the water requirement of the domestic and industrial sectors across QatarIsraelLibya, and Saudi Arabia are propelling the demand for submersible pumps across the Middle East and Africa.
  • Increasing demand for effective water pumping and distribution solutions for industrial and domestic use along with growing government investment in wastewater treatment is spurring the sales of submersible pumps across the municipal segment.

Key Restraints

  • High troubleshooting and re-installation cost along with the increasing incidence of motor failure are hampering the sales of submersible pumps.
  • Implementation of stringent regulations concerning the depletion of groundwater reservoirs is restraining the growth of borewell submersible pumps.

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Competitive Landscape

The top five players operating in the global submersible pumps market are Grundfos, Ebara Corporation, Xylem Inc., KSB SE & Co. KGaA, The Weir Group Plc. These companies are anticipated to account for more than 31% of the overall sales in 2021.

Leading players are emphasizing on launching novel products to expand their product portfolio. Some of the key players are aiming at strategic collaboration, merger, partnership, and acquisition to strengthen their footprint. For instance,

  • In May 2021, Atlas Copco, a Swedish multinational industrial company, announced acquisition of operating assets of a U.S.-based company, Medigas Service & Testing Co. Inc. The acquisition will assist the company to expand its production line across medical and laboratory gas equipment and systems.
  • In May 2021, the KSB Group, a leading producers of pumps, valves and related systems, announced launched the next generation time-tested submersible grey water pumps named the AmaDrainer 3 type series. The product launch will assist the company to expand its portfolio and consumer base.

Some of the key players operating in the market profiled by FMI are:

  • Kubota Corporation
  • Wacker Neuson Group
  • Atlas Copco AB
  • KSB SE & Co. KGaA
  • Xylem Inc.
  • Ebara Corporation
  • Grundfos
  • Sulzer AG

More Valuable Insights on Submersible Pumps Market

A new report published by FMI offers a detailed analysis of the global submersible pumps market, uncovering vital dynamics accelerating the market growth through 2021 and beyond. The survey also forecast sales projections for submersible pumps market with detailed segmentation:

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Submersible Pumps Market by Category

By Product Type:

  • Non Clog Submersible
  • Open Well Submersible
  • Bore Well Submersible

By Head Type:

  • Below 50 meter
  • 50 m- 100 m
  • Above 100 m

By Application:

  • Agriculture
  • Industrial
    • Oil & Gas
    • Firefighting
    • Mining
    • Construction
    • Other Industrial
  • Municipal
    • Water Supply & Distribution
    • Wastewater Management

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • MEA

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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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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