The global COVID-19 pandemic has turned several industries upside down by causing disruptions in their daily operations and limiting the supply of raw materials, hampering production and growth. The report offers actionable and valuable market insights of Submersible Pump. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Submersible Pump Market across various industries and regions.
According to Fact.MR’s recent study on the global submersible pump market, the market is gaining traction steadily and is expected to ascend at around 4.8% CAGR through 2031, exceeding a valuation of around US$ 9 Bn by 2021. Demand is expected to emerge especially strong across the water and wastewater treatment industry, creating an absolute opportunity worth US$ 141.7 Mn by 2031.
|Market Size (2021)||US$ 9 Bn|
|Projected Market Forecast Value by 2031||US$ 14.5 Bn|
|Value CAGR (2021-2031)||4.8%|
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Submersible Pump market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Submersible Pump
This newly published and insightful report sheds light on Market Insights of Submersible Pump, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Submersible Pump Market.
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Key Segments Covered
- Borewell Submersible Pumps
- Non-Clog Submersible Pumps
- Open Well Submersible Pumps
- Head Type
- Submersible Pumps Below 50 mm
- Submersible Pumps between 50-100 mm
- Submersible Pumps Above 100 mm
- Submersible Pumps for Agriculture
- Submersible Pumps for Construction
- Submersible Pumps for Fire Fighting
- Submersible Pumps for Water & Wastewater Treatment
- Submersible Pumps for Mining
- Submersible Pumps for Oil & Gas
- Submersible Pumps for Other Industrial Applications
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The competitive landscape of the submersible pump market is shaped by product innovation and strategic mergers & acquisitions. Front Runners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies. Some notable developments are as follows:
- In August 2021, Kubota Corporation owned Kubota Construction Co. Ltd. signed a contract for the Project for Expansion of the Water Supply System in Pursat City, Cambodia. The agreements aims at supplying safe potable water to all residents, which will augment the need for submersible pumps to water treatment
- In May 2021, the KSB Group launched the youngest generation of its time-tested submersible grey water pumps: the AmaDrainer 3 type series. The new development of these pumps, available in four sizes, is the manufacturer’s response to customer requests for a design that is more compact and easy to handle. These pumps are highly robust, designed for continuous duty at a fluid temperature of 70o C and also up to 90o C
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Key Takeaways of Submersible Pump Market Study:
- The global submersible pump market is expected to grow at a sluggish CAGR of 3.3% in terms of volume and it is anticipated to expand 1.4X from 2020 through 2030.
- Borewell submersible pumps will hold the maximum share in terms of value and are projected to create an absolute dollar opportunity of US$ 1.7 billion during the forecast period.
- Submersible pumps with head above 100 meters are expected to grow at a CAGR of 3.8% in terms of value, and are slated to gain 73 BPS on their market share by the end of the forecast period.
- By application, mining is projected to account for a majority share in terms of value, and will create an absolute $ opportunity of more than US$ 1.8 billion during the forecast period.
- Europe is forecast to hold maximum share in terms of value. The region is expected to lose 160 BPS from its market share in terms of value by the end of forecast period.
“The outbreak of COVID-19 will leave an unprecedented impact on the global submersible pump market as demand for its myriad applications witness a decline. However, as the global business economy rebounds post-pandemic, the market is poised to witness significant opportunity” says the Fact.MR analyst.
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