Submersible Pumps Market
Submersible Pumps Market Analysis By Product (Borewell Submersible Pumps, Non-clog Submersible Pumps, Open Well Submersible Pumps), By Head Type (Below 50 mm, 50 to 100 mm, Above 100 mm), By Application (Agriculture, Construction, Water & Wastewater Treatment, Oil & Gas, Fire Fighting, Mining) & By Region - Global Market Insights 2023 to 2033
Analysis of Submersible Pumps Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Submersible Pumps Market Outlook (2023 to 2033)
Increasing at a CAGR of 6.7%, the global submersible pumps market is set to increase from a value of US$ 14.27 billion in 2023 to US$ 27.3 billion by the end of 2033, as per this latest market study by Fact.MR.
Submersible pumps are designed to operate while completely submerged in liquid. They are typically used for pumping water and other liquids from deep wells, boreholes, tanks, sumps, and other submerged applications. Unlike traditional pumps that are placed above the liquid surface, submersible pumps are placed directly in the liquid and operate by pushing the liquid to the surface.
- According to Fact.MR, a market research and competitive intelligence provider, worldwide sales of open well submersible pumps are forecasted to increase rapidly at a CAGR of 7.3% from 2023 to 2033.
Submersible pumps are typically electrically powered and can range in size from small pumps used for residential applications to large pumps used for industrial and commercial purposes. They are commonly used in applications such as water supply and distribution, wastewater management, irrigation, oil and gas production, mining, and other similar industries.
The high efficiency of submersible pumps and several advantages over traditional pumps make them highly sought-after. They are typically more durable, require less maintenance, and are more energy-efficient than traditional pumps. Some of the types of submersible pumps are borewell submersible pumps, non-clog submersible pumps, and open well submersible pumps.
Open well submersible pumps are designed to be used in open wells, tanks, or reservoirs, and they can provide a continuous water supply to households, farming and gardening, and other applications. Another factor increasing the demand for open well submersible pumps is the growing need for efficient agricultural irrigation systems.
The use of open well submersible pumps in agriculture is becoming more popular due to their ability to provide water from wells or open sources directly to crops, resulting in improved crop yields and better farm productivity.
Submersible Pumps Market Size (2023E)
US$ 14.27 Billion
Forecasted Market Value (2033F)
US$ 27.3 Billion
Global Market Growth Rate (2023 to 2033)
United Kingdom Market Value (2033)
US$ 1.33 Billion
United States Market Growth Rate (2023 to 2033)
Germany Market Growth Rate (2023 to 2033)
Japan Market Growth Rate (2023 to 2033)
China Market Growth Rate (2023 to 2033)
Key Companies Profiled
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Why are Sales of Submersible Pumps Increasing at a Fast Rate?
“IoT-enabled Submersible Pumps Redefining Concept of Pump Operations”
The introduction of the Internet of Things (IoT) and other innovative technologies is contributing to the growth of the market for submersible pumps. IoT-enabled submersible pumps can monitor and operate the pumping systems in real time, which improves their efficiency, dependability, and performance.
Adoption of digital technologies such as machine learning (ML) and artificial intelligence (AI) is improving pump performance and enabling predictive maintenance. During the anticipated period, demand for submersible pumps is expected to rise due to their cutting-edge features such as variable speeds, remote monitoring, and ease of maintenance.
“Growing Rate of Power Plant Projects and Water & Wastewater Facilities”
Investments in the construction sector are essential for the development of local and national economies. In the coming ten years, it is anticipated that spending on infrastructure and capital projects will increase dramatically across several regions of the globe.
Several Asia Pacific countries including India, China, Indonesia, and others are heavily investing in the development of their infrastructure. Furthermore, rising urbanization in emerging economies is anticipated to spur investment in key industries such as power and water & wastewater treatment, which will subsequently fuel the demand for solar submersible pumps.
- According to a United Nations study, 40.76% of India's population is expected live in urban areas by 2030.
- India is expected to lead the increase in urban population worldwide by 2050, followed by China, Indonesia, Nigeria, and the United States, according to the World Bank.
“Water Scarcity Concerns Prompting Adoption of Smart Water Systems”
Governments worldwide are becoming increasingly concerned about water scarcity.
- A UNICEF report states that four billion people, or over two-thirds of the global population, experience at least one month without access to adequate water supplies. More than 2 billion people reside in countries with insufficient supply of water. According to the same source, by 2025, half of the global population might be living in countries with a lack of water.
This is increasing the adoption rate of smart water systems. To reduce water waste and save expenses, manufacturing industries, and chemical-based companies are implementing smart water management strategies. Furthermore, smart water technologies are consistently assisting businesses in identifying network issues and improving consumer involvement in water conservation. In light of this, the introduction of smart water management systems is driving up submersible pump sales globally.
Which Aspects are Challenging Submersible Pump Manufacturers’ Revenue Growth?
“Troubleshooting Woes - High Cost of Dealing with Submersible Motor Failures”
When used within the temperature, hydraulic stress, and power requirements of their design parameters, submersible pump motors are extremely trustworthy. These motors are well suited for use in common agricultural, household, and municipal systems.
Unintentionally, submersible pump motors are frequently used in situations that go beyond their intended function. Failures occur as a result, and the benefits of submersible motors are forgotten or quickly lost.
The primary causes of high-temperature harm to submersible motors are loss of cooling flow through the motor, pumping hot water, overloading, and scale accumulation. Such failures are expensive to troubleshoot, and the need for repairs and replacements shortens the pump's lifespan. Thus, the malfunction of pump motors and the related expense of troubleshooting are hampering the submersible pump sales growth.
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Which Key Factors are Expected to Aid New Companies to Gain in This Space?
“Introduction of Advanced Technologies and Growing Demand from Emerging Economies”
Demand for submersible pumps is growing in various sectors, including agriculture, oil and gas, and wastewater treatment. Newcomers can capitalize on this growth by developing innovative submersible pumps that meet the needs of these industries.
There is a growing focus on energy efficiency in the submersible pumps, driven by rising energy costs and environmental concerns. New entrants can develop pumps that are more energy efficient, helping customers reduce their operating costs and meet sustainability goals.
Emerging markets in Asia, Africa, and South America are expected to see significant growth in demand for submersible pumps due to increasing urbanization and infrastructural development. New companies can expand into these markets and tap into new sources of revenue.
The market for submersible pumps is also seeing significant technological advancements, including the use of sensors and remote monitoring systems. Start-up companies can develop products that incorporate these technologies, offering customers greater control and visibility over their pumps.
What are the Growth Prospects for Manufacturers of Submersible Pumps in the United States?
“High Shale Exploration Driving Submersible Pump Sales”
Demand for submersible pumps is expected to increase at a CAGR of 7.2% during the forecast period in the United States. Due to increasing shale reserve exploration and oil and gas projects, the United States is anticipated to hold a major position in the global market for submersible pumps over the forecast period.
The implementation of strict wastewater treatment regulations to aid in the recovery of the mining and oil and gas industries, the increasing prominence of the construction sector, and the overall growth of industrial infrastructure are some of the factors driving the sales of submersible pumps in the United States.
- The Flygt N3069 stainless steel submersible pump was introduced in 2019 by Xylem Inc. It was created to address the most difficult pumping problems in intricate industrial applications. Agriculture, hydrocarbon extraction, aquaculture, and wastewater treatment are a few of these. The pump is specially designed to provide enhanced resistance to corrosion and exceptional pumping efficacy for industrial applications involving high chloride or extreme pH values.
Why is Demand for Submersible Pumps High in Germany?
“Germany's Stringent Water Laws Boosting Submersible Pump Sales”
Germany currently boasts Europe's highest rate of wastewater recycling and reprocessing. The market for submersible pumps in Germany is predicted to reach US$ 1.69 billion by 2033.
- According to Federal Ministry for the Environment, Nature Conservation, Nuclear Safety and Consumer Protection (BMUV), more than 96% of wastewater from private residences or public spaces is dumped into treatment plants close for processing. The country produces more than 5 billion cubic meters of wastewater annually from private houses, industry, and commerce.
- According to the Federal Water Act (WHG) of the country, it is illegal for families and businesses in Germany to discharge wastewater into water bodies unless the pollutant load is kept to the lowest level possible by treating it with the most cutting-edge purification equipment.
In the long run, this is anticipated to attract a sizable number of submersible pump producers to the country.
What is the Demand Outlook for Submersible Pumps in Japan?
“Energy-efficient Excellence - Japanese Market Players Introducing Advanced Submersible Pumps”
Japan is a highly developed country with advanced technological infrastructure, making it a lucrative marketplace for submersible pump manufacturers. Sales of submersible pumps in Japan are expected to expand at a CAGR of 7.1% from 2023 to 2033.
Several market players in Japan are investing in research and development activities to introduce innovative and energy-efficient submersible pumps.
- Recently, Tsurumi Manufacturing Co., Ltd., one of the leading manufacturers of submersible pumps in Japan, has introduced a new range of submersible pumps, such as the 75S model, AVANT™ Series, and more, that offer high durability, unique cooling systems, low power consumption, and easy maintenance.
- Similarly, Ebara Corporation has developed a new series of submersible pumps that are designed to be used in harsh environments and are suitable for various applications.
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Who is the Leading End User of Submersible Pumps?
“Submersible Pumps Essential Component in Oil & Gas Producing Facilities”
Demand for submersible pumps in the oil and gas industry is expected to increase at a CAGR of 7.7% during the forecast period.
The oil & gas sector requires submersible pumps for various operations such as drilling, oil production, and transportation. Submersible oil and gas pumps are designed to handle high-pressure and high-temperature conditions and can operate efficiently in harsh and corrosive environments.
During the drilling of oil and gas wells, a heavy-duty submersible pump is employed. It is capable of handling large quantities of solids. To maximize output after the decline in natural drives, more than 90% of the oil wells in the globe today employ an artificial lift.
The United States presently dominates the oil & gas production market by utilizing its shale reserves and serving as one of the significant markets for artificial lift. Wastewater production increases as a result of the growing mining of shale reserves. Submersible pumps, which are used to pump effluent from these fields, are anticipated to experience a significant increase in demand as a result.
Key players in the submersible pumps market are concentrating on meeting the needs of a particular demographic. With a strong focus on innovations, the manufacturers enjoy strong partnerships over every phase of the value chain. To meet the demands of a growing clientele, manufacturers are working to strategically collaborate with users and regional distributors.
- The AmaDrainer 3 type series, the newest iteration of the KSB Group's durable submersible grey water pumps, was introduced in May 2021. The firm created these new pumps, which come in four sizes, in response to consumer requests for a more manageable and portable design.
Key Segments of Submersible Pumps Industry Research
By Product :
- Borewell Submersible Pumps
- Non-clog Submersible Pumps
- Open Well Submersible Pumps
By Head Type :
- Below 50 mm
- 50 to 100 mm
- Above 100 mm
By Application :
- Water & Wastewater Treatment
- Oil & Gas
- Fire Fighting
By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- FAQs -
The global submersible pumps market is valued at US$ 14.27 billion in 2023.
The market for submersible pumps is projected to reach US$ 27.3 billion by 2033.
Global demand for submersible pumps is predicted to increase at a CAGR of 6.7% between 2023 and 2033.
Increasing use in farming, wastewater treatment, and oil & gas sectors is driving the sales of submersible pumps
With the presence of emerging countries such as India, China, and Indonesia, Asia Pacific holds a major position in the global market.