Submersible Pumps Market – Overview
The expansion of the mining sector has laid a favorable base for the development of the market for submersible pumps. Reports that investigate the energy and power industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. A value of USD 14,127.2 million is anticipated to boost the market at a CAGR of 5.57 % in the forecast period.
The demand for rare minerals in the consumer sector is expected to enhance the submersible pump market further. Moreover, the constant demand for coal around the world is anticipated to push the market expansion of the Submersible Pumps Market Size in the approaching period.
Segmental Analysis
The assessment of the submersible pumps market is conducted on the basis of end-use industry, operation, well type, power rating, and region.
Based on the well type, the market for submersible pumps is segmented into bore well and open well.
On the basis of operation, the market for submersible pumps is segmented into multi-stage and single-stage.
Based on power rating, the submersible pumps market is segmented into low power, medium power, and high power.
By end-use industry, the segmentation of the submersible pumps market comprises of water and wastewater, agriculture and irrigation, mining, construction, oil and gas, and others.
Based on the region, the market for submersible pumps is segmented into Europe, North America, Asia Pacific, and other global regions.
Regional Analysis
The regional review of the submersible pumps market is segmented into regions such as Europe, North America, Asia Pacific, and other global regions.
The Asia Pacific region is likely to be the uppermost supplier for the submersible pumps market through the forecast period due to the increasing offshore search and production operations in countries such as China. The mounting water and wastewater industry in countries such as China and India, who are streamlining their water management procedures while managing the demands of their swelling populations, is also anticipated to be a topmost driver for the submersible pumps market in the Asia Pacific region. The Asia Pacific region was accountable for approximately 42 % of the overall share in the submersible pumps market in 2017.
Leading Players
The primary contenders in the submersible pumps market are Ebara Corporation (Japan), Atlas Copco AB (Sweden), Flowserve Corporation (U.S.), The Gorman-Rupp Company (U.S.), KSB Group (Germany), Tsurumi Manufacturing Co. Ltd. (Japan), Xylem (U.S.), The Weir Group PLC (U.K.), Sulzer Ltd. (Switzerland), and Grundfos (Denmark).
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