by 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.
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 Coverage | Details |
| Market Size in 2023 | USD 12.61 Billion |
| Market Size by 2032 | USD 19.40 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 4.90% |
| Largest Market | Asia-Pacific |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | By Product, By Drive, and By End User |
| Regions Covered | North 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.
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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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