Submersible Pump Market By Product Types (Non Clog Submersible, Open Well Submersible, Bore Well Submersible), Head Type (Below 50 meter, 50 m- 100 m, Above 100 m), Application (Agriculture, Industrial, Municipal) & Region - Forecast 2021 - 2031

Submersible Pumps Market Snapshot

[323 Pages Repor] The submersible pumps market is expected to register year-on-year growth at 4.6% in 2021, with the overall valuation totaling US$ 8.80 Bn in 2021. As per a recent analysis by Future Market Insights (FMI), sales of submersible pumps are expected to increase at 5.1% CAGR between 2021 and 2031.

According to the study, the overall submersible pumps market valuation is forecast to top US$ 14.45 Bn by 2031. Borewell submersible pumps will remain highly sought-after. Meanwhile, the sales of openwell submersible pumps will increase at a steady pace, exhibiting growth at a 5.7% CAGR in between 2021 and 2031.

2016-2020 Submersible Pumps Market Outlook Compared to 2021-2031 Forecast

Revenue generated by the industrial segment of the submersible pumps market will continue increasing gradually through 2021. According to the study, the demand for submersible pumps grew by 4.6% between 2020 and 2021, exhibiting positive signs of recovery in the market. As of 2020, submersible pumps represented between 18% and 20% of the overall pumps market.

In the agricultural sector, farmers have been exhibiting high adoption of technology driven equipment such as heavy duty submersible pumps for supplying water into the farm. Municipal water distribution and waste water treatment are expected to witness impressive growth in the coming years, which in turn is anticipated to support the growth in the global market.

Leading manufacturing companies are focusing on expanding their product portfolio by investing in research & development activities for development of new products. Through this they intend to offer improved durability and bolster expansion of their distribution channels in various countries around the world.

Request comprehensive report brochure

Will the COVID-19 Crisis Hamper Sales of Submersible Pumps?

The COVID-19 pandemic has affected sales in several countries across Europe, Asia, North America, and the Middle East. This health crisis is hampering all economic activities- new or ongoing projects across oil & gas, infrastructure projects supply chain.

Import and export scenario are encountering various challenges in terms of planning, project execution, and from the risk management aspect due to the pandemic. Considering this, COVID-19 has negatively impacted the manufacturing industry.

The pandemic resulted in authorities shutting down operations across various industries as a preventive measure against the crisis. Moreover, the market is expected to face challenges in the coming days in terms of cash flow management. The submersible pumps market is estimated to recover slowly within one to two years, and this factor is expected to have low to moderate impact on the Submersible Pumps market.

Country-wise Insights

Why is the demand for Submersible Pumps increasing across the U.S.?

According to the study, the submersible pump market in the U.S. will exhibit growth at 3.2% CAGR between 2021 and 2031.

The U.S. is expected to dominate submersible pumps market in the forecast period due to the increasing exploration of shale reserves and oil and gas projects. The market in the U.S. is driven by the implementation of stringent wastewater treatment policies to support recovery in the oil and gas and mining industries, growth in the construction industry, and overall expansion of industrial infrastructure.

However, the market faces some challenges, such as high maintenance and operating costs, as well as volatile oil and gas prices. These factors act as a barrier to market growth.

Will China Continue Exhibiting High Demand for Submersible Pumps?

Future Market Insights (FMI) has projected China to remain one of the most lucrative markets in East Asia, projected to exhibit growth at 6.1% CAGR through the course of the forecast period.

As China is one of the leading construction markets, post the pandemic crisis, construction and mining projects in China has accelerated. This is expected to increase the total sales of submersible pump in the forecast period.

China also is a leading consumer in the global market owing to high consumption rate from municipal and industrial segments. The country is investing in waste water treatment plants to reduce the water scarcity as well as cater to the changing need for domestic and residential purposes. These factors are expected to continue supporting growth in China.

What is the Outlook for India Submersible Pump Market?

The India submersible pumps market is growing and will account for a considerable share of sales in the South Asia & Pacific submersible pumps market. Bore wells constitute a key segment in the India submersible pumps market. Increased water treatment and mining applications in India will led to increase demand for Submersible Pump.

Rising government investment towards infrastructure development activities in India is creating positive growth prospects for submersible pumps market. As per FMI, India is expected to account for nearly one-third sales in South Asia. Expansion of manufacturing operations in India by global giants also will create attractive opportunities for growth.

How will the Submersible Pumps Market Expand across Germany?

The submersible pumps market in Germany is expected to rise at nearly 3.2 % CAGR over the forecast period. The country has a high number of waste water reprocessing and recycling units. More than 96% of the waste water from private households or public facilities is discharged into nearby sewage treatment plants for processing. Driven by this, Germany is expected to create an absolute dollar opportunity of US$ 175.6 Mn from 2021-2031.

Category-wise Insights

Why is the Demand for Borewell Submersible Pumps Rising?

Based on product type, borewell submersible pumps are anticipated to hold the leading share of around 55.3% in the market in 2021. Borewell pumps can be installed vertically as well as horizontally which is perfect pumping solution for gardening, industrial and domestic water supply, firefighting systems, and others. This will continue pushing growth in the segment.

Sales of Submersible Pumps above 100 mm will Continue Rising

By head type, above 100 m segment is anticipated to hold a share around 71.3% of the submersible pumps market in 2021. In a majority of water distribution activities, water is need to be lifted from above 100 meter of the level. In countries such as Qatar, Libya, Israel, and Saudi Arabia, water stress level is very high and it requires more number of borewells to fulfil the water requirement of the industrial and domestic sectors. Owing to these factors, above 100 m segment is expected to dominate the market throughout the forecast period.

Use of Submersible Pumps in the Municipal Segment is increasing

Based on application, use of submersible pumps is high in the municipal sector. As per FMI, it anticipated to hold a leading share of around 44% in the submersible pumps market in 2021. Submersible pumps are perfect solution for water pumping and distribution solution in the domestic as well as industrial use.

The water stress is increasing day by day in various countries due to the growing population and urbanization rate. To match up the changing water need, municipal water distribution and waste water treatment are expected register growth, which in turn will support growth of the global market.

Competitive Landscape

The submersible pump market is moderately competitive, with presence of large number of players. Some of the companies are focusing on catering the demand for specific demography. The market has robust partnerships throughout the value chain, with high focus on innovations. Manufacturers are aiming at strategic collaborations with end users and regional distributors to address the requirements of an expanding customer base. Brand consciousness and aggressive marketing makes it challenging for new entrants in this market. Through these developments, companies are aiming at competitive advantage. For instance:

• In July 2020, Pleuger Industries and Submersible Motor Engineering Pty Ltd signed a memorandum of understanding (MoU) to strengthen their ongoing relationship for the exchange of information and expertise, and to explore new ways of partnering.
• In May 2021, Atlas Copco acquired the operating assets of Medigas Service & Testing Co. Inc. The company services, sells, verifies, and installs piped medical and laboratory gas equipment and systems.
• In May 2021, the KSB Group launched the youngest generation of its time-tested submersible grey water pumps: the AmaDrainer 3 type series.

Scope of Report

Submersible Pumps Market by Category

By Product Type:

• Non Clog Submersible
• Open Well Submersible
• Bore Well Submersible

By Head Type:

• Below 50 meter
• 50 m- 100 m
• Above 100 m

By Application:

• Agriculture
• Industrial
  • Oil & Gas
  • Firefighting
  • Mining
  • Construction
  • Other Industrial
• Municipal
  • Water Supply & Distribution
  • Wastewater Management

By Region:

• North America
• Latin America
• Europe
• South Asia & Pacific
• East Asia
• MEA