Global Submersible Slurry Pumps Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Submersible Slurry Pumps Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Submersible Slurry Pumps are mainly composed of three parts: pump head, motor, and combined seal. The water conservancy part is designed with advanced design methods. The motor and the water pump are coaxially submerged into the medium to work, and the flow parts (including the pump body, the pump cover and the impeller) are made of wear-resistant materials. Submersible Slurry Pumps products are widely used in Mining and Mineral Industry, Construction, Metallurgy & Chemical Industry, Pulp and Paper, Power Generation and other industries.

Market Overview:

The latest research study on the global Submersible Slurry Pumps market finds that the global Submersible Slurry Pumps market reached a value of USD 233.56 million in 2022. It’s expected that the market will achieve USD 335.0 million by 2028, exhibiting a CAGR of 6.2% during the forecast period.

Influence of COVID-19 Outbreak on Submersible Slurry Pumps Industry Development

The raging COVID-19 has plunged the global economic environment into depression. The impact of COVID-19 on the Submersible Slurry Pumps industry will involve all major links and all entities in the industry chain. From the perspective of upstream raw materials, in the short term, the impact of supply chain disruption on SMEs is relatively small. Statistics show that among small and medium-sized enterprises and large enterprises, the proportion of enterprises that believe that supply chain disruption is the main pressure is about 21.2%. In addition, the outbreak of the epidemic has prompted countries around the world to implement comprehensive traffic control and other measures. This poses a certain threat to the global supply chain. This is mainly reflected in the impact of the epidemic on the industry's raw material procurement. Due to the limited production of raw material suppliers and poor logistics, raw material procurement is facing difficulties, but as the process of resuming production and production progresses, this situation will be effectively alleviated.

From the perspective of Submersible Slurry Pumps, the main reason is the increased cost pressure. The outbreak of COVID-19 has put companies under pressure from tight cash flow, supply chain disruption, and general decline in market supply and demand. Most companies expect revenue to fall sharply. Employee salaries, loan repayments and rental expenses are the main cost pressures for business operations. Especially for small and medium-sized enterprises, paying employees' wages has become the biggest cost pressure. In contrast, wage pressures for employees of large companies are relatively small.

From a downstream perspective, the impact of the epidemic on the downstream customers of Submersible Slurry Pumps is comprehensive. For the mining industry, the main prevention and control measures during the epidemic are the closure of mines, ports, railways and other transportation infrastructure. Therefore, during the severe period of the epidemic, goods are stranded at sea or trapped in ports. At the same time, the restrictions imposed by countries are inconsistent. It can be seen that the mining industry has been more severely affected by the covid-19 pandemic. For the construction industry, due to the COVID-19 pandemic, members of the construction industry-including owners, developers, contractors, subcontractors, and supply chain suppliers-have experienced varying degrees of impact. The nature of the impact and the extent of the consequences depend to a large extent on the location of their respective businesses and infrastructure projects. The immediate impact ranges from a slowdown in available goods and labor to a suspension. In some cases, the parties or the entire project are terminated. Depending on whether construction is classified as a basic business, construction activities in some states and cities are still changing. visible. Due to the impact of the epidemic, the normal operations of the downstream customers of Submersible Slurry Pumps have been affected to a certain extent. Therefore, during the severe period of the epidemic, downstream customers' demand for Submersible Slurry Pumps products is in a state of decline.

Submersible Slurry Pumps Drivers

For the Submersible Slurry Pumps industry, the increase in global mining activities is one of the main driving forces of the global Submersible Slurry Pumps market. At present, the mining industry is very important to the development of the world economy. On the one hand, many industries around the world rely on the supply of underground minerals. The dependence of various high-tech industries on rare earths is a recent problem. On the other hand, coal is still one of the world's main energy resources, and its stable demand may also promote the Submersible Slurry Pumps market. At the same time, because of the higher efficiency that Submersible Slurry Pumps can provide in the mining, oil and gas industries. Therefore, Submersible Slurry Pumps are also popular in the mining industry.
For the Submersible Slurry Pumps industry, the growing popularity of e-commerce retailers such as Amazon has promoted the development of the industry. This is mainly due to online channels that promote product sales. As shoppers become more accustomed to buying goods online and retailers fine-tune e-commerce operations to deliver products faster, the share of online e-commerce in total retail sales is increasing every year. At the same time, the pandemic has exacerbated this trend. For example, according to data from the US Department of Commerce, in the second quarter of 2020, e-commerce has grown nearly five times—a record year-on-year increase of 43.7%—and each quarter thereafter has grown between 30-40%. Online e-commerce has broadened the sales channels of products due to its convenience and other features, thereby promoting the development of Submersible Slurry Pumps.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

Weir Group is one of the major players operating in the Submersible Slurry Pumps market, holding a share of 18.24% in 2021.

Founded in 1871, Weir designed solutions that improve safety, efficiency, and sustainability—helping to provide the basic resources needed for an ever-evolving world.

Xylem is a leading water technology company dedicated to solving water by creating innovative and intelligent technical solutions to meet the world's needs for water, wastewater, and energy.

Segmentation Overview:

Among different product types, High Chrome Iron Slurry Pumps segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Mining and Mineral Industry segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Submersible Slurry Pumps market covered in Chapter 3:

Pemopumps
Atlantic Pumps
Ebara Corporation
Pentair
Shijiazhuang Shifang Pump
Weir Group
Modopump
Vulcan Pumps
Shijiazhuang Ruite Pump
Excellence Pump Industry
Shijiazhuang Naipu Pump
Tsurumi Manufacturing Co., Ltd.
Townley
Xylem
Shijiazhuang Kingda Pump
Hevvy Pumps
Flowserve
LEO Group
ITT Goulds Pumps
Zhejiang FengYuan Pump
Hebei Tobee Pump Co., Limited
Goodwin PLC

In Chapter 4 and Chapter 14.2, on the basis of types, the Submersible Slurry Pumps market from 2018 to 2029 is primarily split into:

Stainless Steel Slurry Pumps
Cast Iron Slurry Pumps
High Chrome Iron Slurry Pumps
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Submersible Slurry Pumps market from 2018 to 2029 covers:

Mining and Mineral Industry
Construction
Metallurgy & Chemical Industry
Pulp and Paper
Power Generation
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)