July 20, 2020

Submersible Pumps Market Forecast and Trends Analysis Research Report 2020-2027

According to the latest Submersible Pumps market report by GMI Research: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2020-2027. The submersible pumps market examines the impact of the COVID-19 pandemic and illustrates that the market will have a sharp fallout in 2020, and will accelerate in 2021, growing at a higher growth rate from 2022 onwards. A submersible pump refers to a pump that can be fully submerged into water and is also known as an electric submersible pump. This pump has a hermetically sealed motor close-coupled to the pump body. These pumps are used to push water to the surface through the process of converting rotary energy into kinetic energy and then into pressure energy.

Competitive Landscape: The submersible pumps market report also scans the competitive landscape and profiles the major players operating in the market, including Sulzer Ltd., Flowserve Corporation, KSB Group, Ebara Corporation, Xylem Inc., Atlas Copco, General Electric Company, Halliburton, Grundfos Group, and The Gorman-Rupp Company.

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The key factors that are responsible for the expansion in the submersible pumps market include the continuous industrial development around the globe and the drastic increase in the rising population rate. Simultaneously, the increasing investments in the oil & gas projects, especially in the GCC region, is creating numerous growth opportunities for the market. Several end-users are actively looking for advanced pumps with sleek designs and optimal functionality. This factor is promoting the manufacturers to invest in the R&D activities for product development, which in turn, is further energizing the demand of the market.

The drastic increase in the urban population, followed by the rising incidences of motor failure, will have a positive impact on the demand of the market. The submersible pump is highly energy-efficient and creates less noise as compared to the traditional pumps. On the other end of the spectrum, the high cost of these submersible pumps is likely to hamper the growing demand of the market.

For further information on these analyses, please visit: https://www.gmiresearch.com/report/global-submersible-pumps-market/

Market Segments:

Breakup by Type:

  • Openwell
  • Borewell

Breakup by Operation:

  • Single Stage
  • Multi Stage

Breakup by Application:

  • Agricultural Sector
  • Industrial Sector
  • Domestic Sector

Breakup by Power Rating:

  • Low Power
  • Medium Power
  • High Power

Breakup by Industry:

  • Water& Wastewater
  • Energy& Power
  • Mining& Construction
  • Others

Breakup by Region:

  • North America
    • United States of America
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of the world (remaining countries of the LAMEA region)