Submersible Pump Market Report: Trends, Forecast and Competitive Analysis to 2030

Submersible Pump Trends and Forecast

The future of the global submersible pump market looks promising with opportunities in the open pit and borewell markets. The global submersible pump market is expected to reach an estimated $30.2 billion by 2030 with a CAGR of 8.1% from 2024 to 2030. The major drivers for this market are growing investments in construction industry attributed to rapid urbanization, increasing construction of new water and wastewater facilities, and huge demand for submersible pumps in agricultural sector.

A more than 150-page report is developed to help in your business decisions.

Submersible Pump by Segment

The study includes a forecast for the global submersible pump by type, operation, power rating, application, and region.

Submersible Pump Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Electrical
• Hydraulic
• Air-Driven

Submersible Pump Market by Operation [Shipment Analysis by Value from 2018 to 2030]:

• Single-Stage
• Multi-Stage

Submersible Pump Market by Power rating [Shipment Analysis by Value from 2018 to 2030]:

• Below 1 HP
• 1-5 HP
• 5-15 HP
• Above 15 HP

Submersible Pump Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Open Pit
• Borewell

Submersible Pump Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Submersible Pump Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies submersible pump companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the submersible pump companies profiled in this report include-

• Xylem
• Sulzer
• Grundfos Holding
• Atlas
• Flowserve

Submersible Pump Market Insights

Lucintel forecasts that electrical pump will remain the largest segment over the forecast period as these pumps can hold both solids & liquids and are used across numerous sectors to boost production.

Within this market, open pit will remain the larger segment as it can work directly under various submerged conditions.

APAC will remain the largest region over the forecast period due to rapid urbanization and the availability of raw materials and labor at lower prices in the region.

Features of the Global Submersible Pump Market

Market Size Estimates: Submersible pump market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Submersible pump market size by various segments, such as by type, operation, power rating, application, and region in terms of value ($B).

Regional Analysis: Submersible pump market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different types, operations, power rating, applications, and regions for the submersible pump market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the submersible pump market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the submersible pump market size?

Answer: The global submersible pump market is expected to reach an estimated $30.2 billion by 2030.

Q2. What is the growth forecast for submersible pump market?

Answer: The global submersible pump market is expected to grow with a CAGR of 8.1% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the submersible pump market?

Answer: The major drivers for this market are growing investments in construction industry attributed to rapid urbanization, increasing construction of new water and wastewater facilities, and huge demand for submersible pumps in agricultural sector.

Q4. What are the major segments for submersible pump market?

Answer: The future of the submersible pump market looks promising with opportunities in the open pit and borewell markets.

Q5. Who are the key submersible pump market companies?

Answer: Some of the key submersible pump companies are as follows.

• Xylem
• Sulzer
• Grundfos Holding
• Atlas
• Flowserve

Q6. Which submersible pump market segment will be the largest in future?

Answer: Lucintel forecasts that electrical pump will remain the largest segment over the forecast period as these pumps can hold both solids & liquids and are used across numerous sectors to boost production.

Q7. In submersible pump market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period due to rapid urbanization and the availability of raw materials and labor at lower prices in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the submersible pump market by type (electrical, hydraulic, and air-driven), operation (single-stage and multi-stage), power rating (below 1 hp, 1-5 hp, 5-15 hp, and above 15 hp), application (open pit and borewell), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?