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Primary Catalyst Driving Submersible Pumps Market Evolution in 2025: Impact Of Rising Agricultural Activities On The Growth Of The Submersible Pump Market Driver
Submersible Pumps Market Size
The market size of submersible pumps has been experiencing significant growth in the past few years. Projecting a rise from $13.68 billion in 2024 to $14.65 billion in 2025, it will accomplish a compound annual growth rate (CAGR) of 7.1%. The expanding use in wastewater treatment, construction of residential properties, the growing focus on sustainability and energy-efficient technologies, a rise in industrial activities, and a surge in the construction sector are the primary drivers behind this historical progression.
The market size for submersible pumps is predicted to experience robust expansion in the coming years. Projected to reach $19.1 billion by 2029, with a compound annual growth rate (CAGR) of 6.9%, this increase over the forecast period can be attributed to the rising agricultural and industrial activities, growing demand for electricity, an escalation in irrigation activities, increased urbanization, and measures to treat and reuse discharged wastewater. Expected trends over the forecast period include the development of energy-efficient models, advancements in intelligent pump technologies, incorporation of Internet of Things (IoT) for live monitoring, innovative solutions for wastewater management, improved corrosion-resistant materials, and the adoption of solar-powered submersible pumps.
What Is Stimulating Growth in the Submersible Pumps Market?
The anticipated growth of the submersible pumps sector can be attributed to the surge in agricultural activities. Essentially, agriculture includes crop cultivation, livestock rearing for food and fiber production, as well as key sectors such as fishing and forestry, contributing significantly to the global economy. Global food demand, technological leaps, and expansion of cultivable land are among the factors triggering the growth in agricultural activities. Submersible pumps fulfill a critical role in this sector by drawing water from wells, rivers, or reservoirs to irrigate crops and for farm management. As an illustration, data from the Department for Environment, Food, and Rural Affairs, a UK government agency, indicated a 3.4% growth in agricultural activities from 2021 to 2022. Consequently, the submersible pumps market is expected to witness a positive trend in line with the rise in agricultural endeavors.
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Which Key Market Leaders Are Driving Submersible Pumps Industry Growth?
Major companies operating in the submersible pumps market are Schlumberger NV, Baker Hughes Company, Atlas Copco, Andritz AG, NOV Inc., Flowserve Corporation, Xylem Inc., Ebara Corporation, Grundfos Holding A/S, Sulzer Ltd., ITT Inc., KSB SE & Co. KGaA, Wacker Neuson, Wilo SE, Franklin Electric Co. Inc., Gorman-Rupp Company, Ruhrpumpen Inc., Zoeller Company, SPP Pumps Ltd., Calpeda S.p.A, DAB Pumps SpA, Tsurumi Manufacturing Co. Ltd ., SAER Elettropompe S.p.A, HCP Pump Manufacturer Co. Ltd., Flacks Group
What Are the Emerging Trends in the Submersible Pumps Industry?
The main players in the submersible pumps industry are prioritizing technological advancements such as high-efficiency submersible pumps to establish a competitive advantage. These high-efficiency submersible pumps are innovative tools developed to enhance energy consumption while ensuring maximum water movement and pressure. For instance, Shakti Pumps India Limited, a notable firm in India manufacturing submersible pumps, introduced a 4-inch plug-and-play submersible pump in February 2022. This groundbreaking feature enables rapid assembly without any intricate wiring or set up. By merely connecting the pump to the power supply, users can commence operations right away, thus alleviating downtime and labor expenses.
What Are the Main Segments in the Submersible Pumps Market?
The submersible pumpsmarket covered in this report is segmented -
1) By Product Type: Non-Clog Submersible, Open Well Submersible, Bore Well Submersible
2) By Drive Type: Electric, Hydraulic, Other Drive Types
3) By Head Type: Below 50 m, 50m - 100 m, Above 100 m
4) By Industry: Water And Wastewater, Oil And Gas, Construction, Mining, Other Industries
Subsegments:
1) By Non-Clog Submersible: Sewage Pumps, Drainage Pumps, Sludge Pumps
2) By Open Well Submersible: Vertical Open Well Pumps, Horizontal Open Well Pumps
3) By Bore Well Submersible: Single-Phase Bore Well Pumps, Three-Phase Bore Well Pumps
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Which Geographic Area Leads the Submersible Pumps Market?
Asia-Pacific was the largest region in the submersible pumps market in 2024. The regions covered in the submersible pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Submersible Pumps Global Market Report?
- Market Size Analysis: Analyze the Submersible Pumps Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Submersible Pumps Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Submersible Pumps Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Submersible Pumps Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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