As per Future Market Insights (FMI), the Southeast Asia submersible pumps market is expected to reach USD 1,076.8 Million in 2032. It is anticipated to showcase steady growth at a CAGR of 5.5% between 2022 and 2032. In 2022, more than 56.9% of the market share is likely to be occupied by bore well submersible pumps in the region owing to their increasing end-use applications.
Water scarcity has recently emerged as a serious issue in both developed and developing countries, fueling demand for new water sources capable of meeting Southeast Asia’s industrial and home water demands. The use of wastewater treatment to ease water restrictions is becoming more widespread, which is driving the South Asia submersible pump market.
In addition to that, the market is anticipated to be driven by the rapidly growing oil & gas, utility, construction, and mining sectors in Southeast Asia. Submersible pumps make up around 5-7% of the global market due to their increasing application in various end-use industries like agriculture, residential, commercial, and water utility construction.
To increase sales, many submersible pump manufacturers are concentrating on launching innovative products that are both affordable and efficient. They are mainly focusing on meeting the growing demand for their products from new public and private projects. A few local companies are investing in the establishment 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 USD 808.4 Million 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.
Browse More! https://finance.yahoo.com/news/southeast-asia-submersible-pump-market-063500757.html
Key Players in the Industry:
Xylem Inc.; Ebara Corporation; Grundfos; KSB SE & Co. KGaA; WILO SE; Sulzer AG; ITT Inc.; Franklin Electric Co.; PSG (Dover Corporation); Atlas Copco AB; The Weir Group PLC; Tsurumi Manufacturing Co., Ltd.; Andritz Group; Kubota Corporation; Kirloskar Brothers Ltd.; Pentair PLC; Gorman-Rupp Company; Flowserve Corporation; Hitachi Co. Ltd.; Wacker Neuson Group; SPP Pumps; Ruhrpumpen Group; Shimge Pump Industry Group Co., Ltd; Zhejiang DOYIN Technology Co. Ltd; Shakti Pumps (India) Ltd.; Speck Pumpen Walter Speck GmbH & Co. KG; Pleuger Industries.
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
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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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