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Global Submersible Pumps Market
Global Submersible Pumps Market
The GMI Research speculates that the Submersible Pumps Market will perceive an increase in demand over the forecast period. This is because of their aggravating applications in the oil and gas industry, rising production of an extensive amount of wastewater, and the increasing disbursement on infrastructural development.
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Introduction of the Submersible Pumps Market
A submersible pump is a pump entirely submerged into water and an airtight sealed motor close to the body of the pump. The pump averts pump cavitation and is efficient than the jet pumps. Further, they shove water to the surface via transforming rotary into kinetic and then in pressure energy.
Key Players of Market:
· The Gorman-Rupp Company
· Sulzer AG
· Xylem Inc.
· General Electric Company
· KSB Group
· Grundfos Group
· Atlas Copco AB
· Ebara Corporation
· Flowserve Corporation
· Halliburton Company
Submersible Pumps Market Dynamics
The factors supplementing the market growth of the global submersible pumps market include the increasing investment in the oil and gas projects, primarily in the GCC region, and the augmenting preference of individuals towards modernized pumps with a streamlined design and foremost functionality. In addition, the ongoing industrial enhancement and the accelerating population rate are strengthening the market size. Moreover, these pumps deliver an energy-efficient feature and generate less noise than ordinary pumps. Besides this, the surging investment in the research and development activities for product invention, growing cases of motor failure, and rapid urbanization are complementing the market growth. However, the inflated cost of these pumps will hinder the submersible pumps market opportunities.
Application Segment Drivers
As per the Application, the market is dismembered into the agricultural, industrial, and domestic sectors. Amongst all of these, the industrial sector is predicted to witness higher growth over the forecast period. This is because of the soaring endorsement of submersible pumps across various industry verticals such as sewage treatment, wastewater, and transferring out water from holes in different mining and construction activities. Moreover, the intensifying number of deepwater extrication activities and subsea functions will supplement the submersible pumps market size.
Industry Segment Drivers
Based on the Industry, mining & construction is projected to hold the largest share in the market primarily due to the swift enlargement in construction activities. Further, countries such as UAE and Saudi Arabia are predominantly stressing infrastructural development, like the Smart city project, to enhance the quality of life of their citizen. In addition, the pump is extensively used to pump surplus water from construction sites, thereby enlarging the global submersible pumps market size.
Submersible Pumps Market Segmentation:
Segmentation by Type
· Openwell
· Borewell
Segmentation by Operation
· Single Stage
· Multi Stage
Segmentation by Application
· Agricultural Sector
· Industrial Sector
· Domestic Sector
Segmentation by Power Rating
· Low Power
· Medium Power
· High Power
Segmentation by Industry
· Water& Wastewater
· Energy & Power
· Mining & Construction
· Others
Segmentation by Region:
· Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
· Asia Pacific
o China
o Japan
o India
o Rest of APAC
· North America
o United States of America
o Canada
· RoW
o UAE
o Brazil
o South Africa
o Saudi Arabia
About GMI Research
The organisation is a consulting and market research company with a team of seasoned and expert analysts offering fact-based research to energy, healthcare, FMCG, and healthcare sectors. The research team provides insights and market research reports to help clients comprehend the effect of market dynamics like drivers, size, growth opportunities, share, etc. The information about the industry is accumulated using external and internal databases. Our main emphasis is to impart a step-by-step guidance to our clients through consulting services to assist them making an actionable decision.
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