Submersible Pumps Market Strategy with Growth Analysis till 2021
The global submersible pumps market is projected to reach USD 12.2 Billion by 2020, at a CAGR of 5.4% during the forecast period 2015 to 2020. This report focuses on the submersible pumps market based on its various types and applications for different regions.
The oil price slump in 2014 has slowed the growth of the oil & gas equipment and services market due to non-profitable extraction of crude from the fields. Due to this, the demand for submersible pumps used in this sector has slowed. On the other hand, the demand for submersible pumps used in other applications such as water & wastewater treatment, irrigation, and groundwater extraction showed notable growth in various regions across the globe.
Leading players in the global submersible pumps market include Xylem, Inc. (U.S.), Sulzer AG (Switzerland), KSB Group (Germany), Grundfos Group (Denmark), and Ebara Corporation (Japan) among others. Players in the global submersible pumps market make investments in R&D to enhance the efficiency of their products.
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Scope of the Report
This report focuses on the global submersible pumps market, which has been segmented on the basis of type, operation, power rating, application, industry and region.
On the basis of Type
- Openwell
- Borewell
On the basis of Operation
- Single-stage
- Multi-stage
On the basis of Power Rating
- Low
- Medium
- High
On the basis of Industry
- Mining & Construction
- Water & Wastewater
- Energy & Power
- Others
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The current and forecasted market size estimations are done considering the latest industry trends, usage pattern of various submersible pumps by the end users, and investments being made in the applicable industries industrial, agricultural and domestic sector around the globe.
The global submersible pumps market is projected to grow at a CAGR of 5.4% from 2015 to 2020, reaching a value of USD 12.2 Billion in 2020. In 2014, Asia-Pacific region was the largest market for submersible pumps and accounted for a market share of about 42% in terms of value. This can be attributed to various factors such as growing urban population, rapid industrialization, and huge investments for infrastructure development in this region. This region also houses the leading developing economies such as China, India, and Indonesia that have huge population and have been exhibiting high economic growth rate.
This report provides detailed regional analysis for the submersible pumps market, including market size for important countries. Asia-Pacific region is expected to have maximum investments for the infrastructure developments, which will be a key driver of demand for submersible pumps. China, India, the U.S., Germany, and Brazil have been identified as the key countries for submersible pumps market owing to their current market size and potential for growth.
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These companies are expanding into new territories to take advantage of opportunities in the emerging regions such as Asia-Pacific, Middle East & Africa, and South America through joint-ventures, mergers and acquisitions, and partnerships. This will help them to venture into new markets, minimize the risk of company’s revenue being concentrated on one single region and help them to sustain even if economic growth is low in some regions.
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