June 20, 2024

Submersible Pumps Market Size To Surpass USD 19.40 Bn By 2032

The global submersible pumps market size reached USD 12.61 billion in 2023 and is predicted to hit around USD 19.40 billion by 2032, at a CAGR of 4.90% during the forecast period from 2023 to 2032.

Submersible Pumps Market Size 2023 To 2032

Key Takeaways

  • Asia-Pacific contributed more than 41% of market share in 2022.
  • North America is estimated to expand the fastest CAGR between 2023 and 2032.
  • By product, the borewell segment has held the largest market share of 39% in 2022.
  • By product, the openwell segment is anticipated to grow at a remarkable CAGR of 5.5% between 2023 and 2032.
  • By drive, the electric segment generated over 45% of the market share in 2022.
  • By drive, the hydraulic segment is expected to expand at the fastest CAGR over the projected period.
  • By end user, the agriculture segment generated over 26% of revenue share in 2022.
  • By end user, the chemical segment is expected to expand at the fastest CAGR over the projected period.

The submersible pumps market report offers an exclusive study of the present state expected at the market dynamics, opportunities, market scheme, growth analysis and regional outlook. The report presents energetic visions to conclude and study the market size, market aspiration, and competitive environment. The research also focuses on the important achievements of the market, research & development, and regional (country by country) growth of the leading vendors operating in the market

The study offers intricate dynamics about different aspects of the global submersible pumps market, which aids companies operating in the market in making strategies development decisions. The study also elaborates on remarkable changes that are highly anticipated to configure growth of the global submersible pumps market during the forecast period. It also includes a key indicator analysis that highlights growth prospects of this market and approximate statistics related to growth of the market in terms of value (US$ Mn) and volume (tons).

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Submersible Pumps Market Scope

Report CoverageDetails
Market Size in 2023USD 12.61 Billion
Market Size by 2032USD 19.40 Billion
Growth Rate from 2023 to 2032CAGR of 4.90%
Largest MarketAsia-Pacific
Base Year2022
Forecast Period2023 to 2032
Segments CoveredBy Product, By Drive, and By End User
Regions CoveredNorth America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

This study covers an elaborate segmentation of the global submersible pumps market, along with important information and a competition outlook. The report mentions company profiles of players that are currently influence the global submersible pumps market, wherein various developments, expansions, and winning strategies practiced and execute by leading players have been presented in detail.

Read Also: Wound Care Market Size To Hit USD 35.33 Billion By 2032

Recent Developments

  • In May 2023, Curtiss-Wright Corporation revealed a strategic agreement with Shell Plc, outlining plans to test, manufacture, and offer operational support for an electro-submersible pump destined for a Shell offshore platform in the Gulf of Mexico. The initiative aims to showcase Curtiss-Wright’s canned motor technology as a dependable and efficient alternative to existing subsea pump technologies, addressing the evolving needs of offshore applications.
  • In February 2022, Industrial Flow Solutions announced its acquisition of Dreno Pompe, an Italian company renowned for designing and manufacturing high-quality electrical submersible pumps tailored for wastewater applications. This acquisition positions Industrial Flow Solutions to broaden its product portfolio and strengthen its presence in the wastewater pump market, leveraging Dreno Pompe’s expertise and reputation in the field.

Submersible Pumps Market Players

  • Grundfos
  • Xylem Inc.
  • Sulzer Ltd.
  • KSB SE & Co. KGaA
  • Flowserve Corporation
  • Franklin Electric Co., Inc.
  • Ebara Corporation
  • Tsurumi Manufacturing Co., Ltd.
  • WILO SE
  • Halliburton
  • Baker Hughes
  • The Gorman-Rupp Company
  • Weir Group PLC
  • Kirloskar Brothers Limited
  • Ruhrpumpen Group

Segments Covered in the Report

By Product

  • Borewell
  • Openwell
  • Non-Clog

By Drive

  • Electric
  • Hydraulic
  • Others

By End User

  • Agriculture
  • Construction & Building Services
  • Water & Wastewater
  • Power Generation
  • Oil & Gas
  • Chemical
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Research Methodology

The research methodology acquire by analysts for assemble the global submersible pumps market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.

During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.

For secondary research, analysts study numerous annual report declaration, white papers, market association declaration, and company websites to obtain the necessary understanding of the global submersible pumps market.

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Submersible Pumps Market 

5.1. COVID-19 Landscape: Submersible Pumps Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Submersible Pumps Market, By Product

8.1. Submersible Pumps Market Revenue and Volume, by Product, 2023-2032

8.1.1 Borewell

8.1.1.1. Market Revenue and Volume Forecast (2020-2032)

8.1.2. Openwell

8.1.2.1. Market Revenue and Volume Forecast (2020-2032)

8.1.3. Non-Clog

8.1.3.1. Market Revenue and Volume Forecast (2020-2032)

Chapter 9. Global Submersible Pumps Market, By Drive

9.1. Submersible Pumps Market Revenue and Volume, by Drive, 2023-2032

9.1.1. Electric

9.1.1.1. Market Revenue and Volume Forecast (2020-2032)

9.1.2. Hydraulic

9.1.2.1. Market Revenue and Volume Forecast (2020-2032)

9.1.3. Others

9.1.3.1. Market Revenue and Volume Forecast (2020-2032)

Chapter 10. Global Submersible Pumps Market, By End User 

10.1. Submersible Pumps Market Revenue and Volume, by End User, 2023-2032

10.1.1. Agriculture

10.1.1.1. Market Revenue and Volume Forecast (2020-2032)

10.1.2. Construction & Building Services

10.1.2.1. Market Revenue and Volume Forecast (2020-2032)

10.1.3. Water & Wastewater

10.1.3.1. Market Revenue and Volume Forecast (2020-2032)

10.1.4. Power Generation

10.1.4.1. Market Revenue and Volume Forecast (2020-2032)

10.1.5. Oil & Gas

10.1.5.1. Market Revenue and Volume Forecast (2020-2032)

10.1.6. Chemical

10.1.6.1. Market Revenue and Volume Forecast (2020-2032)

10.1.7. Others

10.1.7.1. Market Revenue and Volume Forecast (2020-2032)

Chapter 11. Global Submersible Pumps Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.1.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.1.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.1.4. U.S.

11.1.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.1.4.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.1.4.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.1.5.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.1.5.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.2. Europe

11.2.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.2.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.2.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.2.4. UK

11.2.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.2.4.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.2.4.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.2.5. Germany

11.2.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.2.5.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.2.5.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.2.6. France

11.2.6.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.2.6.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.2.6.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.2.7.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.2.7.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.3. APAC

11.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.3.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.3.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.3.4. India

11.3.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.3.4.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.3.4.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.3.5. China

11.3.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.3.5.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.3.5.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.3.6. Japan

11.3.6.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.3.6.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.3.6.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.3.7.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.3.7.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.4. MEA

11.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.4.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.4.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.4.4. GCC

11.4.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.4.4.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.4.4.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.4.5. North Africa

11.4.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.4.5.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.4.5.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.4.6. South Africa

11.4.6.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.4.6.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.4.6.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.4.7.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.4.7.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.5. Latin America

11.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.5.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.5.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.5.4. Brazil

11.5.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.5.4.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.5.4.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)

11.5.5.2. Market Revenue and Volume Forecast, by Drive (2020-2032)

11.5.5.3. Market Revenue and Volume Forecast, by End User (2020-2032)

Chapter 12. Company Profiles

12.1. Grundfos

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. Xylem Inc.

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. Sulzer Ltd.

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. KSB SE & Co. KGaA

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. Flowserve Corporation

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. Franklin Electric Co., Inc.

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. Ebara Corporation

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. Tsurumi Manufacturing Co., Ltd.

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. WILO SE

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

12.10. Halliburton

12.10.1. Company Overview

12.10.2. Product Offerings

12.10.3. Financial Performance

12.10.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

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