An Incisive, In-depth Analysis on the Submersible Pump Market
This study offers a comprehensive, 360 degree analysis on the Submersible Pump market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Submersible Pump market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Submersible Pumps Market Outlook & Key Findings
- The submersible pump market is expected to grow at a CAGR of 5% through the forecast period ( 2020-2030)
- China, US and Japan collectively account for sales of three pumps out of every ten
- Industrial sector is poised to represent three fourth of new submersible pump demand in 2030
- Smart water digitization will pave way for new opportunities and also help companies through savings on repair and maintenance and water monitoring
How Submersible Pumps Manufacturers Harnessing Efficiency and Agility into Opportunity?
The global submersible pump market is estimated to be around US$ 82 Mn in 2020, and is on a steady growth curve with sizable pull in demand from established markets as well as dominating end use industries. Submersible pumps are hard to replace with alternate technology and is suitable for dewatering, slurry and sewer applications.
As industrial applications of submersible pumps come with risk, high temperatures and handling of corrosive chemicals, choosing the most suitable submersible pump leads to better efficiency, reduced maintenance and long-term savings on cost.
Within industrial de-watering applications, pumps with continuous-duty motors are more preferred as they have cycles of more than 20 minutes. For smaller sump applications, intermittent-duty motor pumps are more optimal.
As pump brands learned the preferences of end use industries and their apt technical requirements, they took it to marketing strategy table. Such brands positioned their submersible pump with certain features and technical attributes to a specific application, and leveraged the opportunity.
Smart Water Management Systems to Provide Growth at Scale
By the year 2025, nearly 20%-25% of the world population will be plagued by water scarcity. The impudent use of water can be reversed by smart water systems that use a combination of IoT, AI and Big Data.
Water management using smart systems are integrating various systems used in the management of water resources by regulating, monitoring and controlling water resources and equipment such as pumps.
Towards this, a series of instruments are used such as sensors, meters, actuators and visualization tools that enable engineers to keep better track of the water system. The main objective behind the use of smart water management is to enhance sustainability and recyclability of water. Further:
- It helps reduce wastage
- Improves water quality
- Enhances water system efficiency
Within smart water management, sensors have shown great diversity for ascertaining wear and tear on pumps and also checking the requisite pressure on them in the distribution chain. This gives the management key insights on complexities within the entire system. This also facilitates data driven remedial action.
Majority of the end use industries such as Oil & gas, water & waste water treatment are witnessing high adoption of advanced technologies such as IoT devices to increase operational output.
For instance, Grundfos, a Danish pump manufacturer partnered with Ericsson and Telenor Connexion to devise a cutting edge IoT platform that could manage their water infrastructures world over. This has helped them to digitalize water pumps globally. Similarly Adcon, a smart water company offers a range of smart solutions such as leakage detection in pumps to water monitoring.
Borewell Submersible Pumps to Remain Highly Preferred
Borewell submersible pumps are expected to account for about half of the global market in terms of revenue through 2030. The efficient design of submersible pumps have made them the right choice for borewells.
Borewells need a low diameter pump which can fit well in the area of use. Borewell submersible pumps are increasingly being used in the removal of ground water in farmlands, houses and industries. Discharge rate of fluid, diameter of pipe from which water is ejected, head/height of the pump and borewell size are some of the critical factors that influence selection of borewell pumps.
Submersible Pump Market – Key Challenges
Industrial processes such as wastewater management, paper pulping utilize a high amount of corrosive chemicals and acids. These may prove incompatible against pump components and cause significant wear and tear. High costs associated with troubleshooting in case of motor failure is a deterrent for market players.
Further, all submersible pumps reach a point where they pump at optimal efficiency levels. This is also called as the Best Efficiency Point (BEP). For industrial sewage and waste water applications, the duty point needs to be well within the range of 30% of the BEP of the pump. Outside this range, vibration, higher operational costs and damage done due to cavitation can cause significant damage to the pump and remains a challenge
Submersible Pumps Market – Asia Pacific to Remain in Forefront of Industrial Applications of Submersible Pumps
Submersible pumps also called electric submersible pumps rank high on the efficiency index as they are not subject to pump cavitation that happens in conventional variants. The hermetically sealed motor ensures that water never touches its electric components.
With time, they have proven to be highly suitable for a range of industrial applications such as inland and offshore oil wells, deep well drilling, irrigation systems and flooded basements at construction sites.
The submersible pump market is expected to grow significantly in Asia Pacific on back of exponential demand growth in agriculture, chemicals, domestic and municipal pumping end-uses.
The Mekko chart above clearly illustrates market share of submersible pumps across a range of industrial application in key regions such as Asia-Pacific, Europe, North America, Middle East & Africa and Latin America. Within the industrial Segment, submersible pumps are capturing a significant share in the Oil & Gas industry, particularly in North America, MEA and Asia Pacific. Following close behind is the construction sector which holds a sizeable market share across North America and Europe.
Submersible Pumps Pricing Remains Susceptible to Entry of Chinese Players
A large number of China based OEMs are offering low-priced submersible pumps. For instance, China based players sell submersible pumps at 25–30% lower price as compared to the global and regional brands.
This increases the preference of end users for such China based brands in agricultural and domestic applications. This has also enhanced price competitiveness and is forcing other players to offer reliable, efficient, technologically advanced and high-quality submersible pumps.
Internet savvy and connoisseurs are slowly gravitating to online portals where price transparency is rife. Digitalization has given consumers a newer perspective in terms of quick access and comparison between different models, their pricing and integrity/quality of the product.
Submersible Pumps Regional Analysis – China’s Hegemony Rests on Wastewater Treatment
East Asia holds the leading share in the submersible pumps market in terms of volume; however, Europe is projected to account for highest value share. This is attributed to pricing variations of submersible pumps within these regions.
East Asia, especially China is major consumer, manufacturer and exporter of submersible pumps in the global market. The region is witnessing high consumption growth from municipal as well as industrial segment.
Japanese Pump manufacturer Tsurumi launched its innovative series of pumps in Munich last year. The KTZ415 and KTZ615 series of pumps have discharge heads of nearly 40 metres. Their motors boast of a formidable output of 15 MW and remain resistant to pressure for a depth of as much as 25 metres.
Market players in China are significantly investing in Waste water treatment plants to reduce water scarcity. This region is expected to witness significant growth in the global market.
For instance, the Bailonggang waste water treatment plant situated in Shanghai, China remains one of the biggest wastewater treatment plants in Asia. It treats wastewater in a catchment area of over 270 kms every day. The region collaborated with KSB for supply of hundreds of waste water pumps on back of the company’s world class efficiency in hydraulic pumps. Over one-third of waste water produced by Shanghai is cleaned here every day.
World’s Top Manufacturers of Submersible Pumps
Future Market Insights opines that the global submersible pumps market is fairly fragmented owing to the presence of several players across the globe. Submersible pumps are one of the most widely produced piece of machinery used in water reticulation, oil and gas, agriculture and construction. The market for characterized by a plethora of players who are leveraging their presence through efficient and solution oriented pumps:
- Wilo headquartered in Germany has 17 production facilities for its diversified range of pumps scattered across Europe, Asia and America. It specializes in high efficiency pumps for waste water treatment applications, irrigation and water collection and transport
- Grundfos is the pioneer in pump manufacturing holding a sizeable share of the market. With production of more than 16 million pump units in a year, it boasts of an extensive distribution network in over 56 countries. The company has set high standards in terms of innovation, sustainability and has an elaborate portfolio of bore-hole type submersible pumps along with solar driven variants available through its cutting edge digital platform
- ZMSA’s submersible pumps are products got from renewable energy. With energy requirements going up by at least 30% over the next 3-4 years, these pumps will offer novel solutions in hydro-electric power generation
- Sulzer headquartered in Switzerland, in an industrial leader offering an extensive portfolio of submersible pumps for power, water, oil and gas applications. It has a highly nuanced and comprehensive range of submersible pumps of heavy, light and medium duty pumps for municipal and industrial wastewater applications
Submersible Pumps: Future Outlook
The Asia Pacific region alone generated nearly 45% of pump demand in the year 2019. High demand growth is set to proliferate on back of advances in fixed investments and skyrocketing construction spending.
In the future demand for pumps will be dependent on increased water supply and sanitation need and the repair and overhaul of old and aging infrastructure in developed regions. Towards this, North America will remain a high potential region. For now, demand is mildly tempered with a fall in oil prices and reduced activity in this sector.
Submersible Pumps Market: Global Industry Analysis 2015-2019 & Opportunity Assessment 2020-2030
A recent market study published by FMI on the submersible pumps market includes global industry analysis for 2015-2019 & opportunity assessment for 2020-2030, and delivers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical and current growth parameters of the submersible pumps market, the growth prospects of the market are obtained with maximum precision.
Submersible Pumps Market: Taxonomy
The global submersible pumps market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.
Chapter 01 – Executive Summary
The report initiates with the executive summary of the submersible pumps market, which includes a summary of key findings and statistics of the market. It also includes the demand-side & supply-side trends about the Submersible Pumps market.
Chapter 02 – Market Overview
Readers can find the definition and a detailed taxonomy of the submersible pumps market in this chapter, which will help them understand basic information about the market. Along with this, comprehensive information pertaining to submersible pumps is provided in this section. This section also highlights the inclusions and exclusions, which help readers understand the scope of the submersible pumps market report.
Chapter 03 – Key Market Trends
The submersible pumps market report provides the key market trends and developments that are expected to significantly impact the market growth during the forecast period.
Chapter 04 – Key Success Factors
The submersible pumps market report provides key market factors that are expected to support the market growth over the forecast period. This section includes the factors that have emerged as key successful factors and strategies adopted by key market participants.
Chapter 05- Global Submersible Pumps Market Demand (‘000 Units) Analysis 2015–2019 and Forecast, 2020–2030
This section explains the global market volume analysis and forecast for the submersible pumps market in the forecast period of 2020-2030.
Chapter 06- Global Submersible Pumps Market - Pricing Analysis
This section provides the pricing analysis for submersible pumps on the basis of product type segment.
Chapter 07 - Global Submersible Pumps Market Demand (US$ Mn) Analysis 2015–2019 and Forecast, 2020–2030
This section explains the global market value analysis or market size and forecast for the submersible pumps market in the forecast period of 2020-2030. Readers can also find the absolute $ opportunity for the current year (2020), and an incremental $ opportunity for the forecast period (2020–2030).
Chapter 08 – Market Background
This chapter explains key macro-economic factors that are expected to influence the growth of the submersible pumps market over the forecast period. This section also covers COVID-19 Impact assessment for the global market. Along with the macroeconomic factors, this section also highlights the value chain and forecast factors for the Submersible Pumps market. Moreover, in-depth information about the market dynamics and their impact analysis on the market have been provided in the successive section.
Chapter 09 – Global Submersible Pumps Market Analysis 2015-2019 & Opportunity Assessment 2020-2030, by Product Type
Based on product type, the submersible pumps market is segmented into non clog submersible, open well submersible, and bore well submersible. In this chapter, readers can find information about the key trends and developments in the submersible pumps market and market attractiveness analysis based on product type.
Chapter 10 – Global Submersible Pumps Market Analysis by Head Type
This chapter provides details about the submersible pumps market based on head type, and has been classified into below 50 meter, 50 m- 100 m, and above 100 m. In this chapter, readers can understand the market attractive analysis based on head type.
Chapter 11 – Global Submersible Pumps Market Analysis 2015-2019 & Opportunity Assessment 2020-2030, by Application
Based on application, the submersible pumps market is segmented into agriculture, industrial, and municipal. Industrial application is further segmented into oil & gas, firefighting, mining, construction, and other industrial. Municipal application is further segmented into water supply & distribution and wastewater management. In this chapter, readers can find information about the key trends and developments in the submersible pumps market and market attractiveness analysis based on application.
Chapter 12 – Global Submersible Pumps Market Analysis 2015-2019 & Opportunity Assessment 2020-2030, by Region
This chapter explains how the submersible pumps market will grow across several geographic regions such as North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa
Chapter 13 – North America Submersible Pumps Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter includes a detailed analysis of the growth of the North America submersible pumps market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the pricing analysis, regional trends, and market growth based on Application and countries in North America.
Chapter 14 – Latin America Submersible Pumps Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter provides the growth scenario of the submersible pumps market in Latin America countries such as Brazil, Mexico, and the Rest of Latin America. Along with this, an assessment of the market across target segments has been provided.
Chapter 15 – Europe Submersible Pumps Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
Important growth prospects of the submersible pumps market based on its Application in several countries such as Nordic Countries, Germany, the U.K., France, Russia, and Rest of Europe are included in this chapter.
Chapter 16 – South Asia & Pacific Submersible Pumps Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter highlights the growth of the submersible pumps market in South Asia & Pacific by focusing on India, ASEAN, Oceania, and Rest of South Asia & Pacific. This section also helps readers understand the key factors that are responsible for the growth of the Submersible Pumps market in South Asia & Pacific.
Chapter 17 – East Asia Submersible Pumps Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
Important growth prospects of the submersible pumps market based on its Applications in several countries such as China, Japan, and South Korea are included in this chapter
Chapter 18 – Middle East & Africa Submersible Pumps Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter highlights the growth of the submersible pumps market in Middle East & Africa by focusing on GCC Countries, South Africa, Turkey, and Rest of MEA. This section also helps readers understand the key factors that are responsible for the growth of the submersible pumps market in Middle East and Africa.
Chapter 19 - Key and Emerging Countries Submersible Pumps Market Analysis
Important growth prospects of the submersible pumps market for the key and emerging countries are included in this chapter. This chapter helps the reader to under the country wise scenario of the submersible pumps market
Chapter 20 – Market Structure Analysis
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the submersible pumps market, along with their market presence analysis by region and product portfolio.
Chapter 21 – Competition Landscape
In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the Submersible Pumps market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Kubota Corporation, Wacker Neuson Group, Atlas Copco AB, KSB SE & Co. KGaA, Xylem Inc., Ebara Corporation, Grundfos, Sulzer AG, The Weir Group PLC, Tsurumi Manufacturing Co., Ltd., Kirloskar Brothers Ltd., Flowserve Corporation, WILO SE, PSG (Dover Corporation), Gorman-Rupp Company, Ruhrpumpen Group, Shimge Pump Industry Group Co., Ltd., Zhejiang DOYIN Technology Co. Ltd., Shakti Pumps (India) Ltd., and Speck Pumpen Walter Speck GmbH & Co. KG, among others.
Chapter 22 – Assumptions and Acronyms
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the submersible pumps market report.
Chapter 23 – Research Methodology
This chapter helps readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the submersible pumps market.
Sources and Primary Research Splits (%)