Submersible Pumps Market Poised to Register 6.6% CAGR through 2017 – 2027

A recent report by Future Market Insights (FMI) offers a revised forecast and key insights on the global submersible pump market over the forecast period (2017–2027). The global market for submersible pumps is projected to register an impressive 6.6% CAGR through 2027. Global sales of submersible pumps will surpass US$ 8,000 Mn in revenues by 2017-end. Asia-Pacific excluding Japan (APEJ) is expected to account for over one-third share of the global submersible pumps market by the end of 2017, and the region is expected to remain dominant in the market throughout the forecast period.

Key Research Findings from FMI’s Report: The borewell submersible pumps will remain the most lucrative among products, with revenues projected to account for nearly two-third share of the market by 2027-end. The openwell and non-clog submersible pumps are expected to witness a moderate expansion in sales through 2022.

By head type, ‘above 100 m segment’ is projected to exhibit the highest CAGR through 2027.The non-industrial water & waste water will continue to be the most lucrative application of submersible pumps, with revenues projected to account for the largest share of the market during the forecast period. This can be primarily attributed to rising demand for fresh water in industrial as well as domestic use.Agricultural application of submersible pumps will register the fastest expansion through 2027.

Drivers and Restrains of Global Submersible Pump Market: The submersible pumps market has been growing significantly over the past few years, especially in APEJ. Rising investment for improvements of wastewater treatment plants to reduce shortage of water, and increasing environmental concerns associated with conventional pumps are driving adoption of submersible pumps. In addition, growing infrastructural developments owing to rapid urbanization around the world are further expected to foster growth of the global submersible pumps market.

However, submersible pumps market is likely to face some challenges. In submersible pumps market, existence of large number of Chinese competitors with low-cost products will pose a challenge in generating new opportunity for market players. To enhance the quality of products, several players are focusing on mergers and acquisitions.

China to Hold Dominant Revenue Share in APEJ Market: Asia Pacific Excluding Japan (APEJ) and North America are anticipated to collectively account for over half volume share of the global submersible pumps market in 2017. Asia Pacific Excluding Japan (APEJ) market will remain dominant in the market over the forecast period. Ongoing infrastructure development, and rising demand from irrigation and agriculture in developing economies, such as India and China, are some key factors driving growth of the market in APEJ. China is anticipated to hold the largest revenue share of the market in APEJ during the forecast period.

Some top companies performing in the global submersible pumps market are profiled in FMI’s report, which include Klaus Union GmbH, KSB AG, Flowserve Corporation, Tsurumi Manufacturing Co., Ltd., Sulzer Ltd., HERMETIC-Pumpen GmbH, Ebara Corporation, Toyo Denki Industrial Co. Ltd., The Weir Group PLC, GRUNDFOS, WILO SE, Ruhrpumpen Group, Xylem Inc., Kirloskar Brothers Limited, HOMA Pumpenfabrik GmbH, WPIL Limited, CP Pumpen AG, DESMI A/S, Speck Pumpen Walter Speck GmbH & Co. KG, and Shakti Pumps (I) Ltd.

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Ankush Nikam

Ankush Nikam is a seasoned digital marketing professional, having worked for numerous online firms in his distinguished career. He believes in continuous learning, considering that the digital marketing sector’s rapidly evolving nature. Ankush is an avid music listener and loves to travel.