The Submersible Pumps Market size is estimated at USD 18.83 billion in 2024, and is expected to reach USD 27.92 billion by 2029, growing at a CAGR of 8.20% during the forecast period (2024-2029).
The market for submersible pumps remains to be fragmented. Some of the key players include (not in particular order) Borets International Ltd, Gorman-Rupp Co, Flowserve Corporation, Grundfos Group, and Sulzer Ltd., among others.
In March 2022, Flowserve Corporation signed an agreement with Gradiant to help handle the most challenging problems in water and wastewater treatment. This partnership is going to combine Flowserve’s flow control solutions and product expertise with Gradiant’s innovative, tailored water treatment technology to provide distinctive total water treatment solutions for customers. Flowserve also persists in upgrading its water portfolio with market-leading flow control products and solutions for the water industry. Recent accumulations include the H2O+ submersible pump, a suite of highly efficient pumps for desalination, and the RedRaven IoT platform.
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