Press release
Vertical Immersion Pumps Industry to See Robust Expansion, Valued at $4.26 Billion by 2029
Vertical Immersion Pumps Market
What Is the Projected CAGR for the Vertical Immersion Pumps Market from 2024 to 2025?
In the past few years, the market size for vertical immersion pumps has seen a minimal increase. The market is expected to rise from $3.55 billion in 2024 to $3.62 billion in 2025, with a compound annual growth rate (CAGR) of 1.9%. The previous growth in this market has been driven by factors such as its usage in industrial applications, its efficiency and reliability, the enlargement of the oil & gas industry, the demand for chemical processing, and the treatment of water and wastewater.
What are the Expected Market Size and CAGR for Vertical Immersion Pumps by 2029?
In the upcoming years, the vertical immersion pumps market is predicted to experience consistent expansion. The market size is anticipated to reach $4.26 billion by 2029, with a compound annual growth rate (CAGR) of 4.2%. Factors contributing to the projected growth during this period include Industry 4.0 integration, enhanced focus on energy efficiency, the rise of renewable energy sectors, development of advanced materials, and an increased demand from the Asia-Pacific region. The forecast period will also see key trends such as strategic alliances, remote management and monitoring, solutions for service and maintenance, customization and adaptability, as well as water management solutions.
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Which Factors Are Driving the Global Vertical Immersion Pumps Market Expansion?
Anticipated growth in various sectors is predicted to significantly boost the vertical immersion pumps market's demand. Vertical immersion pumps are becoming more popular across numerous fields such as irrigation, dewatering, water cooling, plus oil, gasoline, and lubricant transportation. Its broad range of applications has resulted in a heightened need in the oil and gas, chemical, and power generation sectors due to increasing global demand. For example, the U.S. Energy Information Administration (EIA) stated in October 2022 that global liquid fuel usage is projected to rise by 100.98 million barrels daily in 2023. As such, the escalating demand from diverse sectors will further push the demand for the vertical immersion pumps market.
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Which Segment Currently Holds the Largest Share of the Vertical Immersion Pumps Market?
The vertical immersion pumps market covered in this report is segmented -
1) By Product Type: Line Shaft Pump (VS-4), Cantilever Pump (VS-5)
2) By Material: PP (GFR), PVDF, Cast Iron, Ductile Cast Iron, WCB, Other Materials
3) By Capacity: Up To 100m3/hr, 100 To 500m3/hr, 500 To 1000m3/hr, Above 1000m 3/hr
4) By Application: Irrigation, Potable Water Supply, Water Cooling, Dewatering, Geothermal Well, Oils, Fuels, Lubricants Transfer, Other Applications
Subsegments:
1) By Line Shaft Pump (VS-4): Vertical Turbine Pumps, Submersible Line Shaft Pumps
2) By Cantilever Pump (VS-5): Standard Cantilever Pumps, Heavy-Duty Cantilever Pumps
Which Major Trends Are Shaping the Future of the Vertical Immersion Pumps Industry?
Top companies in the vertical immersion pumps industry are putting their focus on creating technologically sophisticated solutions like pumps and filtration systems, intended to bolster efficiency, reliability, and sustainability in fluid handling tasks across different sectors. Pumps and filtration systems are specialized machinery, engineered to transport and clean fluids in a variety of industrial operations. These solutions boost operational efficiency, provide reliability, and support sustainability by optimizing fluid management and diminishing waste. For instance, in February 2024, Hendor, a manufacturing company based in the Netherlands, introduced its D43 series of vertical pumps tailored to uplift energy efficiency and sustainability specifically in the gas scrubbing and pre-treatment powder coating industry sectors. These sectors benefit from enhanced energy efficiency and decreased operational expenses, rendering them a green option for various implementations. The pumps' compact design and sturdy build ensure a reliable performance along with easy maintenance, leading to an extended service lifespan and a reduced environmental influence.
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Which Key Players Dominate the Vertical Immersion Pumps Industry Globally?
Major companies operating in the vertical immersion pumps market are KSB SE & Co. KGaA, ITT Inc., Ruhrpumpen Group, Castle Pumps Ltd., AxFlow Holding AB, Flowserve Corporation, North Ridge Pumps Ltd., Tapflo Group, Vertiflo Pump Company, FLUX-Geräte GmbH, Salvatore Robuschi and C. S.r.l., Lenntech BV, Brinkmann Pumps GmbH + Co. KG, Gusher Pumps Inc., C.R.I. Pumps Pvt. Ltd., National Pump Company, Grundfos Pumps Corporation, Pentair PLC, Simflo Pump Inc., Process Systems Ltd., Neptuno Pumps Ltd., Sintech Precision Products Ltd., Ebara Corporation, Tsurumi Manufacturing Co. Ltd., Weir Group PLC, Kirloskar Brothers Limited, Shakti Pumps Ltd., WPIL Limited, Kishor Pumps Pvt. Ltd., Rotech Pumps & Systems Inc., T-T Pumps Ltd., Vansan Water Technologies, Zhejiang DOYIN Pump Industry Co. Ltd.
What Are the Fastest-Growing Regions in the Vertical Immersion Pumps Market?
North America was the largest region in the vertical immersion pumps market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vertical immersion pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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