Global Submersible Pumps Market Worldwide Overview, Entails the Detailed Quantitative Analysis of the Current Market Growth and Estimations through 2018 And 2023

The global submersible pumps market is expected to rise from a 2017 valuation of USD 10,204.7 million to a 2023 valuation of USD 14,127.2 million. It can expand at a CAGR of 5.57% during the forecast period (2018-2023).

The increase in mining activities around the world is likely to be a key driver for the global submersible pumps market over the forecast period. The growing demand for offshore exploration and subsea production activities in the oil and gas sector is likely to be a major driver for the global submersible pumps market over the forecast period. The falling levels of onshore oil and gas reservoirs have led to an increased interest in offshore exploration and production. The increasing profitability of offshore ventures has led to a steady rise in government as well as private funding for the sector, resulting in a growing demand for accessories such as submersible pumps.

The dependence of various high-tech industries such as consumer electronics on rare earth metals is likely to be a major driver for the mining industry in the coming years, as metals such as lanthanum, neodymium, and cerium have taken on a hugely important role in the electronics industry. The steady demand for coal, which remains one of the prime energy resources around the world, is also likely to drive the mining sector in the coming years.

Request Free Sample Report @ https://www.marketresearchfuture.com/sample_request/1351

Competitive Landscape:

Leading players in the global submersible pumps market include Flowserve Corporation (U.S.), Grundfos (Denmark), The Gorman-Rupp Company (U.S.), Xylem (U.S.), EBARA CORPORATION (Japan), Tsurumi Manufacturing Co. Ltd. (Japan), KSB Group (Germany), Sulzer Ltd. (Switzerland), Atlas Copco AB (Sweden), and The Weir Group PLC (U.K.).

Global Submersible Pumps Market Segments Analysis

The global submersible pumps market is segmented by operation, well type, power rating, end-use industry, and region.

By operation, the market is segmented into single-stage and multi-stage. Multi-stage configurations accounted for a majority share of more than 68% in the market in 2017 and are likely to remain the dominant contributor to the market over the forecast period.

By well type, the market is segmented into open well and bore well. The bore well segment is expected to exhibit the dominant share in the global submersible pumps market over the forecast period.

By power rating, the submersible pumps market is segmented into low power, medium power, and high power. The high-power segment accounted for the highest share in the global market in 2017 and is likely to remain a major contributor over the forecast period.

By end use, the market is segmented into water and wastewater, agriculture and irrigation, construction, mining, oil and gas, and others. The water and wastewater industry is likely to remain the leading end-use segment of the global submersible pumps market over the forecast period, having accounted for 39.85% of the market in 2017.

Geographic Analysis

By region, the global submersible pumps market is segmented into North America, Europe, Asia Pacific, and the rest of the world.

Asia Pacific is likely to be the leading contributor to the global submersible pumps market over the forecast period due to the growing offshore exploration and production activities in countries such as China.

The growing water and wastewater industry in countries such as China and India, who are looking to modernize their water management procedures and manage the demands of their growing populations, is also likely to be major driver for the submersible pumps market in Asia Pacific, which accounted for close to 42% of the global submersible pumps market in 2017.

Browse Full Research Report @ https://www.marketresearchfuture.com/reports/submersible-pumps-market-1351

List of Tables

Table 1 Global Submersible Pump Market, By Industry, 2016-2023 (USD Million)

Table 2 Global Submersible Pump Market, By Well Type, 2016-2023 (USD Million)

Table 3 Global Submersible Pump Market, By Operation, 2016-2023 (USD Million)

Table 4 Global Submersible Pump Market, By Power Rating, 2016-2023 (USD Million)

Table 5 Global Submersible Pump Market, By Region, 2016-2023 (USD Million) 4

Table 6 North America: Submersible Pump Market, By Country, 2016-2023 (USD Million)

Table 7 North America: Submersible Pump Market, By Well Type, 2016-2023 (USD Million)

Table 8 North America: Submersible Pump Market, By Operation, 2016-2023 (USD Million)

Table 9 North America: Submersible Pump Market, By Power Rating, 2016-2023 (USD Million)

Table 10 North America: Submersible Pump Market, By Industry, 2016-2023 (USD Million)

Continue……

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact:

Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com

This release was published on openPR.