Submersible Pumps Market by Type (Bore Well, Open Well), Operation (Multi-Stage, Single Stage), Power Rating, Drive, End User - Global Forecast 2024-2030

Submersible Pumps Market by Type (Bore Well, Open Well), Operation (Multi-Stage, Single Stage), Power Rating, Drive, End User - Global Forecast 2024-2030

The Submersible Pumps Market size was estimated at USD 10.39 billion in 2023 and expected to reach USD 10.92 billion in 2024, at a CAGR 6.17% to reach USD 15.81 billion by 2030.

Submersible pumps are specialized pumping systems created to operate while fully submerged in the intended fluid. Submersible pumps utilize a hermetically sealed motor closely coupled to the pump body, ensuring that water cannot enter the motor and cause a potential failure. Increasing investments in new construction, agricultural activities, and energy production facilities drive demand for submersible pumps. However, significant upfront costs associated with advanced pump technologies and challenges in maintenance limit the market growth. Furthermore, ongoing technological advancements for improvements in pump efficiency, reliability, and durability create lucrative opportunities for market growth.

Regional Insights

In the American region encompassing the United States & Canada, the demand for submersible pumps is primarily driven by the growing oil and gas sector, along with the need for water management solutions. Innovations and technological advancements play a crucial role in the efficiency improvement and energy saving of these pumps. Investment in wastewater treatment and water recycling projects is a significant trend, reflecting a growing environmental awareness and regulatory push. In the European Union, environmental sustainability and energy efficiency are the primary drivers. There is a strong focus on adopting green and sustainable technologies, which has led to the development and adoption of high-energy-efficient submersible pumps. Countries within the EU are leading in terms of investments in research targeting innovative water management solutions. The APAC region is propelled by significant industrial growth and massive investments in water infrastructure development. The countries in the region are home to several key manufacturers, contributing to pioneering technological advancements and competitive pricing in the global market.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Submersible Pumps Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Higher Demand for Submersible Pumps in Agriculture Sector
    • Growing Inclination Toward Electric Submersible Pumps
    • Rapid Expansion of Construction Industry
    • Market Restraints
      • Concerns Related to Energy Inefficiency and High Cost of Pump Installation and Maintenance
      • Market Opportunities
        • Emergence of Solar-Powered Submersible Pumps and Machine Learning (ML) for Predictive Maintenance of ESP
        • Increasing Investments for Onshore and Offshore Oil & Gas Explorations
        • Market Challenges
          • Increasing Incidences of Failure of Submersible Pumps
          • Market Segmentation Analysis
            • Type: Bore well submersible pumps preferred for deep water table applications requiring water to be lifted from great depths
            • Drive: Growing significance of pneumatic submersible pumps in oil and gas industry due to their inherent safety features
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Submersible Pumps Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Submersible Pumps Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Atlas Copco to Acquire Dewatering Pump Manufacturer
              
              Atlas Copco, a prominent player in the industrial segment, has announced its intention to acquire Sykes Group Pty Ltd., a reputable manufacturer of dewatering pumps, from Seven Group Holdings. The company's expertise in developing a wide spectrum of surface dewatering pumps, along with innovative chopper and cutter technologies tailored for wastewater management, positions it as a vital player in the industry. Furthermore, its comprehensive line of hydraulic submersible pumps enhances its product portfolio.
              
              Ducab & Baker Hughes deal to manufacture Electrical Submersible Pumps for oil companies
              
              Ducab, a forefront energy solutions provider in the UAE, has entered into a Memorandum of Understanding (MoU) with Baker Hughes, a leader in energy technology, to boost the development and production of power cables for electrical submersible pumps. This collaboration is set to enhance the operational efficiency of major oil and gas entities, including ADNOC, by paving the way for advanced manufacturing capabilities within the UAE.
              
              KSB unveils new submersible borehole pump series
              
              The KSB Group introduced the UPA S 250, a pioneering series of high-efficiency submersible borehole pumps expertly crafted for diverse applications, including general water supply, agriculture, mine dewatering, groundwater management, and pressure boosting tasks. These 10-inch stainless steel well pumps, available in three hydraulic system sizes, cater to flow rates ranging from 60 to 400 cubic meters per hour, reaching up to a 360-meter head.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Submersible Pumps Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Submersible Pumps Market, highlighting leading vendors and their innovative profiles. These include Atlas Copco AB, C.R.I. Pumps Private Limited, Crompton Greaves Consumer Electricals Limited, Dooch Co., Ltd., Ebara Corporation, Elpumps, Flowserve Corporation, Franklin Electric, General Electric Company, Grundfos Holding A/S, Halliburton Company, Havells India Ltd., HCP Pump Manufacturer Co., Ltd., HOMA Pumpenfabrik GmbH, Industrial Flow Solutions, Kirloskar Brothers Limited, KSB SE & Co. KGaA, Leo Group Pump (Zhejiang) Co., Ltd., Lubi Industries LLP, Mody Pumps Inc., Pleuger Industries, Polycab India Limited, Profil Pumps Corporation, Rafel Pump, SAER Elettropompe S.p.A., Sulzer Ltd., Söndgerath Pumpenhandels GmbH, The Gorman-Rupp Company, Tsurumi Manufacturing Co., Ltd., V-Guard Industries Ltd., Vira Pumps, Waaree Group, Wilo SE, and Xylem Inc..
            
            Market Segmentation & Coverage
            
            This research report categorizes the Submersible Pumps Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Type
              • Bore Well
              • Open Well
              • Operation
                • Multi-Stage
                • Single Stage
                • Power Rating
                  • 1-5 HP
                  • 5-15 HP
                  • above 15 HP
                  • Below 1 HP
                  • Drive
                    • Electric
                    • Hydraulic
                    • Pneumatic
                    • End User
                      • Industrial
                        • Agriculture
                        • Energy & Power
                        • Mining & Construction
                        • Oil & Gas
                        • Municipal
                          • Wastewater Management
                          • Water Supply & Distribution
                        • Region
                          • Americas
                            • Argentina
                            • Brazil
                            • Canada
                            • Mexico
                            • United States
                              • California
                              • Florida
                              • Illinois
                              • New York
                              • Ohio
                              • Pennsylvania
                              • Texas
                              • Asia-Pacific
                                • Australia
                                • China
                                • India
                                • Indonesia
                                • Japan
                                • Malaysia
                                • Philippines
                                • Singapore
                                • South Korea
                                • Taiwan
                                • Thailand
                                • Vietnam
                                • Europe, Middle East & Africa
                                  • Denmark
                                  • Egypt
                                  • Finland
                                  • France
                                  • Germany
                                  • Israel
                                  • Italy
                                  • Netherlands
                                  • Nigeria
                                  • Norway
                                  • Poland
                                  • Qatar
                                  • Russia
                                  • Saudi Arabia
                                  • South Africa
                                  • Spain
                                  • Sweden
                                  • Switzerland
                                  • Turkey
                                  • United Arab Emirates
                                  • United Kingdom
                                  
                                  
                                  Please Note: PDF & Excel + Online Access - 1 Year