is9792 (12)

1
Submersible Pumps Market is estimated to Record a
CAGR of Nearly 5.0 through 2029

• March 2020

Report Id REP-GB-817 Published On
April-2019 Category Industrial Automation and
Equipment
2
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4
Submersible Pumps Market Analysis

• Submersible Pumps Market is estimated to Record a
  CAGR of Nearly 5.0 through 2029
• According to a new study of Future Market
  Insights (FMI), the submersible pumps sales in
  2018 closed in on 9,300 thousand units, and is
  estimated to record a Y-o-Y growth at 4.0 in
  2019. Growth of the submersible pumps market
  remains influenced by various factors, ranging
  from growing government investments in water and
  wastewater treatment, to increasing number of
  onshore and offshore oil exploration and
  production activities.
• According to the study, submersible pumps sales
  in the water wastewater treatment are estimated
  to account for nearly 50 market share in 2019.
  Greater suitability of submersible pumps in
  water, wastewater, sewage, and sludge containing
  fibrous and solid material, as well as gaseous
  liquids, continues to underpin their sales. Key
  players in the submersible pumps markets have
  introduced products that facilitate installation,
  and feature automatic temperature and seal
  monitoring in real-time.
• The study finds that tertiary recovery methods
  have gained significant momentum in the oil gas
  industries, and submersible pumps, electric
  submersible pumps in particular, play a vital
  role in these methods. As the oil gas
  exploration activities are near maturity, these
  methods are being viewed as more feasible and
  economical among industry players.
• Electrical submersible pumps have witnessed
  increased adoption in the artificial gas lift,
  owing to their ability to improve the recovery
  factor of oil gas, in turn improving their
  production efficiency. With the increasing oil
  gas exploration activities, and artificial lift
  methods becoming more economical, submersible
  pumps are witnessing a surge in demand from the
  industry, and this is expected to continue over
  the forecast period.

5
Submersible Pumps Market Analysis

• Borewell Submersible Pumps Remain Sought-after
• The report estimates larger sales of borewell
  submersible pumps, compared to other variants, in
  light of their greater effectiveness in
  groundwater extraction across various application
  areas including domestic, industrial, and
  agriculture. Borewell submersible pumps are
  estimated to account for over 5 in 10 sales in
  2019, according to the study. Openwell
  submersible pumps are also expected to hold
  significant shares of the market over the period
  of forecast.
• Sensing varied requirements of end users,
  submersible pump manufacturers have introduced
  products with different head mechanisms, which
  range from 50 meters to above 100 meters.
  Submersible pumps with the head mechanism of
  above 100 meters will continue to remain
  preferred, on account of their enhanced
  operational capability.
• East Asia Remains Most Lucrative Market for
  Submersible Pumps
• The study finds that East Asia will continue to
  remain the leading market for submersible pumps,
  with China at its forefront. Influx of
  investments in infrastructure projects, along
  with the robust mining, oil gas, and
  agriculture activities in China are key aspects
  fueling sales of submersible pumps in the
  country. The study expects Europe to account for
  a significant share in the submersible pumps
  market, and South Asia to be the high-growth
  market for submersible pumps, underpinned by the
  rapid economic developments in its developing
  nations such as India.

6
Submersible Pumps Market Analysis

• The submersible pumps market continues to remain
  fairly fragmented in nature, owing to the
  presence of a large number of players competing
  for shares. Competition in the submersible pumps
  market is likely to intensify as key vendors
  include IoT enabled products in their portfolio
  to facilitate troubleshooting and remote access
  to oilfield equipment. Key player operating in
  the submersible pumps market include KSB AG,
  Flowserve Corp, Sulzer AG, Ebara Corporation,
  Weir Group Plc., Xylem Inc., Wilo SE, Kubota
  Corporation, Wacker Neuson Group, Atlas Copco
  Group, Tsurumi Manufacturing Co., Ltd.,
  Ingersoll-Rand plc, and Kirloskar Brothers Ltd.,
  among others.
• This FMI study also offers forecast of the
  submersible pumps market for the period between
  2019 and 2029. The submersible pumps market is
  projected to record a CAGR of approximately 5.0
  through 2029.
• Sourcehttps//www.globenewswire.com/news-release/
  2019/04/24/1808888/0/en/Submersible-Pumps-Market-i
  s-estimated-to-Record-a-CAGR-of-Nearly-5-0-through
  -2029-Future-Market-Insights.html
• More from FMIs Industrial Automation Equipment
  Market Intelligence
• Building Automation Systems Market
• Electric Sub-meter Market

7
Submersible Pumps Market Analysis

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