Tethered Manned Submersible Market Growth Revenue By Top Key Players Holdings Baker Hughes, General Electric, Grundfos Pumps India Private Ltd., Halliburton, Schlumberger Ltd, Borets International Ltd, Ebara Corporation, Falcon Pump, Walrus America, WILO

Tethered submersible pump is a pumping equipment used for the extracting different types of fluid such as water and crude oil, which is further sent to the various end-use industries such automotive, oil & gas, and mining, however, is highly preferred for agricultural and industrial applications. Submersible pump is vertically submerged under the fluid to be transported (such as water) and is driven by electric current, operating on the principle of centrifugal force.

Download PDF Brochure : https://www.coherentmarketinsights.com/insight/request-pdf/1779

Increasing number of the construction activities is one of the major factors driving the growth of the market

The increasing number of the construction activities across the world is one of the major factors driving the growth of the market. Increasing urbanization across the world, is further increases the development of infrastructural activities across the world. For instance, according to the WorldBank.org the urban population in 2014 was 53.8% of global population, which reached up to 54.3%, globally. Development in Infrastructure results in increased construction activities, which eventually creates a demand for tethered manned submersible pump in order to extract water from the surface, further creating new sources of water for the residential, industrial, and commercial purposes.

High cost associated with maintenance of tethered manned submersible pumps is one of the major factors restraining growth of the market

The high cost involved in maintenance of tethered manned submersible pumps is one of the major factors restraining growth of the market. Moreover, while extracting fluid from the surface, the motor of the pump fails to operate optimally, which poses as a restraint. Additionally, the cost of repairing is based on the type of pump. For instance, according to Coherent Market Insights analysis, the average cost to repair a sump pump is US$ 485. The final price could range between US$ 110 and US$ 1,000, depending on the extent of the service. Homeowners pay between US$ 293 and US$ 684 for repairs on an average. This factor in turn, is hampering growth of the tethered manned submersible market size.

Global Tethered Manned Submersible Market: Regional Insights

On the basis of region, the global tethered manned submersible market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. Asia Pacific accounted for the largest market share in 2017 and is expected to retain its dominance during the forecasted period. Major factors that attribute to this growth include rapid urbanization and industrialization in emerging economies such as China and India, which are experiencing increased investments on housing, road network, urban transport, water supply, power-related infrastructures, smart cities, and other forms of urban management.

Global Tethered Manned Submersible Market: Competitive Landscape

Major players operating in the global tethered manned submersible market include Baker Hughes, General Electric, Grundfos Pumps India Private Ltd., Halliburton, Schlumberger Ltd, Borets International Ltd, Ebara Corporation, Falcon Pump, Walrus America, WILO SE, and Xylem, Inc.

Global Tethered Manned Submersible Market: Taxonomy

By Product Type

Non-clog Submersible Pump
Openwell Submersible Pump
Borewell Submersible Pump

By Operation

Single Stage
Multi Stage

Request For Customization of Research Report : https://www.coherentmarketinsights.com/insight/request-customization/1779

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

This release was published on openPR.