Submersible Pumps Market Value Expected to Increase at a CAGR of 6.6% by 2027
The water & wastewater segment is expected to hold a major share in terms of volume among the application segments owing to rising demand for fresh water for domestic as well industrial use. Global sales of submersible pumps is estimated to be valued at US$ 8,248.4 Mn by the end of 2017, witnessing a Y-o-Y growth of 6.6% over the forecast period. APEJ is estimated to account for a value share of 36.4% in the submersible pumps market by 2017 end and it is anticipated to retain its dominance throughout the forecast period.
The submersible pumps market has been experiencing significant growth for years now, particularly in the APEJ region. The market is primarily driven by growing environmental concerns, increasing investment for development of wastewater treatment plants to overcome shortage of water and increasing infrastructural development due to rapid urbanisation across the globe.
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However, the submersible pumps market is expected to face certain challenges. The presence of a large number of Chinese players in the market with low-priced product is likely to pose a challenge for creating a new opportunity for market players in the submersible pumps market. Market players are focussing on mergers and acquisitions in order to enhance their global presence.
On the basis of type, the borewell submersible pumps segment is anticipated to witness robust growth in terms of value and volume over the forecast period. The segment is anticipated to expand at a significant CAGR dominating the market share over the forecast period with 61.8% share by the end of 2027
The non-clog and openwell segments are expected to expand at a moderate growth rate over the forecast period
Non-industrial water and wastewater segment is estimated to dominate the submersible pumps market over the forecast period with a revenue share of 32.9% by the end of 2017
The Agriculture segment is estimated to hold 18.2% share in terms of revenue by the end of 2017 and the overall contribution of this segment to the global submersible pumps market is expected to increase at a CAGR of 7.0% over the forecast period
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North America and Asia Pacific Excl. Japan are estimated to collectively account for more than half of the overall volume share in the global submersible pumps market by the end of 2017. The APEJ submersible pumps market is expected to remain dominant over the forecast period. This growth is mainly attributed to ongoing infrastructure development and increasing demand from agriculture and irrigation in developing countries such as China and India. China is expected to hold a dominant revenue share in the APEJ submersible pumps market over the forecast period.
The report highlights some of the top companies operating in the global submersible pumps market such as KSB AG, Flowserve Corporation, Sulzer Ltd., Ebara Corporation, The Weir Group PLC, WILO SE, Xylem Inc., Ruhrpumpen Group, Kirloskar Brothers Limited, GRUNDFOS, HOMA Pumpenfabrik GmbH, Toyo Denki Industrial Co. Ltd., WPIL Limited, HERMETIC-Pumpen GmbH, CP Pumpen AG, DESMI A/S, Tsurumi Manufacturing Co., Ltd., Speck Pumpen Walter Speck GmbH & Co. KG, Klaus Union GmbH and Shakti Pumps (I) Ltd.
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