Submersible Pumps Market 2020-2025: Research Report with Profitable Customization Analysis
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Global Submersible Pumps Market Trends:
The market is experiencing growth on account of the escalating demand for oil and gas in the industrial, transportation and residential sectors across the globe. Due to a significant decline in the availability of oil reserves, there is a rise in the utilization of submersible pumps to conduct extraction activities in deep-sea reserves. Moreover, a surge in the demand for efficient wastewater and sewage management systems is strengthening the market growth. Apart from this, governments of numerous countries are implementing policies to recycle wastewater, manage sewage and provide safe drinking water on account of the growing environmental concerns. Furthermore, the increasing utilization of the Internet of Things (IoT) for in-depth monitoring, data capturing, and remote access are impacting the market growth positively. Looking forward, the market value is projected to grow at a CAGR of 7% during the forecast period (2020-2025).
Market Breakup by Type:
• Open well
Market Breakup by Operation:
Market Breakup by Power Rating:
Market Breakup by Application:
• Water and Wastewater
• Mining and Construction
• Pulp and Paper
• Energy and Power
• Food and Beverages
• Chemicals and Pharmaceuticals
Market Region Summary:
Region-wise, the market has been classified into North America (the United and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and Middle East and Africa.
The competitive landscape of the market has been examined, with some of the key players being:
• Atlas Copco Group
• Flowserve Corporation
• Grundfos Holding A/S
• ITT Goulds Pumps Inc.
• Kirloskar Brothers Limited
• KSB SE & Co. KGaA
• Schlumberger N.V.
• Sulzer Ltd.
• Weir Group Plc.
• Wilo SE
• Xylem Inc
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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