What's driving the Tethered Manned Submersible Market Size? |Growth Analysis to 2026, Key Players- Baker Hughes, General Electric, Grundfos Pumps India Private Ltd., Halliburton, Schlumberger Ltd, Borets International Ltd, Ebara Corporation, Falcon Pump,

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.

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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.

For instance, in January 2016, according to the press release of financier worldwide magazine, between US$ 700 billion and US$ 800 billion is invested in infrastructure development worldwide each year, of which around US$ 550 billion is invested in emerging economies. Therefore, increasing infrastructure development is expected to increase the demand for tethered manned submersible pumps for extracting oil and water from the surface, which in turn helps meet the increasing demand for water and oil across the world. Hence, all these factors help boost growth of the global tethered manned submersible pump market.

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.

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

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