According to Fortune Business Insights, the submersible pump market will take off and display a 6.0% CAGR by 2026. Increasing need for agricultural activities will further support growth.
The market for submersible pumps is anticipated to reach USD 20.58 billion in revenue by 2026, with a CAGR of 6.0% from 2019 to 2026.
This can be attributed to elements like increased need to handle wastewater and expanding agricultural operations globally.
This information is contained in the most recent report from Fortune Business Insights, titled “Submersible Pump Market Size, Share and Industry Analysis, By Capacity (Low, Medium, High), By Pump Type (Electrical Submersible Pumps, Grinder Pumps, Effluent Pumps, Bilge Pumps, Others), By End-User (Residential & Commercial, Water & Wastewater, Mining, Agriculture, Oil & Gas, Chemicals, Construction, The research also notes that in 2018, the market had a value of USD 12.95 billion.
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A list of the market’s active companies:
- Crompton Greaves Consumer Electricals Limited (India)
- Sulzer (Switzerland)
- Pedrollo S.p.A. (Italy)
- ZUWA-Zumpe GmbH (Germany)
- Weatherford (U.S.)
- HomaPumpenfabrik GmbH (Germany)
- Xylem Inc. (U.S.)
- Kirloskar Brothers Limited (India)
- oddessePumpen- Und Motorenfabrik GmbH (Germany)
- Zoeller Company (U.S.)
- KSB Company (U.S.)
- QuadtKunststoffapparatebau GmbH (Germany)
- Multiquip Inc. (U.S.)
- TSURUMI PUMP (Japan)
- Hitachi America (U.S.)
- GRUNDFOS (Denmark)
- Caprari (Italy)
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An electric pump that is entirely immersed in water is referred to as a submersible pump. Additionally, it effectively transforms the rotational energy into kinetic energy and then pressure energy, pushing the water to the surface.
These pumps are also extremely efficient and a blessing for locations with severe water shortages since they only need a little amount of electricity to transport the water into the pumps. The greatest submersible pumps are available from a number of brands, including Kirloskar, Toland, and Aquaforte, among others.
These pumps are incredibly effective and dependable. Additionally, these pumps are used around the world to treat wastewater and facilitate water reuse.
What is Covered in the Report?
The market study offers in-depth quantitative and qualitative analysis of a number of variables, including the main market development drivers and inhibitors.
Additionally, the study offers insights into the geographical analysis, which covers the various areas that are influencing the market’s expansion.
It also contains the competitive environment, which includes top corporations and their adoption of tactics to develop unique goods, announce alliances, and collaborate in ways that will help the market expand between 2019 and 2026.
Additionally, the research analyst has used a variety of research approaches, including PESTEL and SWOT analysis, to gather data on current industry trends and developments that will fuel market expansion in thethe following years.
Drivers and Restrictions: Promoting the Use of Effective Wastewater Treatment Techniques to Promote Growth
Since it is a limited resource, water is essential to human life. However, due to pollution and contamination from big industries and other factors, the natural resource is quickly running out.
Government agencies all over the world have put in place strict policies and guidelines that aim to limit contamination levels and further treat wastewater to make it fit for human consumption in an effort to stop the growing incidents of water contamination.
In the upcoming years, the market expansion is anticipated to be driven in part by a focus on treating and reusing wastewater. For instance, the Gujrat government in India developed the “Reuse of Treated Waste Water Regulatory” policy framework in May 2018.
According to the policy, emphasis is placed specifically on reusing polluted water by treating it at specialised Sewage Treatment Plants (STP), while lowering reliance on natural freshwater sources.
Regional Analysis:
Expanding Hydrocarbon Exploration in the Asia-Pacific to Support Growth
The greatest worldwide submersible pump market revenue is anticipated to come from Asia-Pacific, which had a 2018 market value of USD 4.22 billion.
This can be attributed to elements like the rising demand for energy consumption, which is driving the demand for hydrocarbon reserve exploration activities.
However, Europe is anticipate to be the second most dynamic region over the forecast period.
This can be attribute to element like supportive waste water treatment regulation.
Rising agricultural activity, and rising construction of new private and commercial spaces between 2019 and 2026.
Competitive Environment:
The worldwide submersible pump market is flood with a number of players. According to Fortune Business Insights. The businesses are using tactics including product launches, partnerships, and merger and acquisition to increase their market share and secure their position. For instance, Tsurumi declared in February 2020 that it owned a sizeable portion of the British pump distributor Obart Pumps, Ltd. The company claims that the merger will strengthen its position by introducing fresh products and effective services to the lucrative local market.
Industry Development:
Sulzer announced the addition of a new submersible dewatering pump to its lineup of submersible pumps in September 2019. According to the company, the new pump, XJ900. Will provide reliable operations. That are support. By low operating costs.
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