Global Submersible Pumps Market to Grow at 4.2% During 2023-2028, Stimulated by Escalating Demand for Wastewater Management

June 25, 2020 | Energy & Mining

According to the latest report by IMARC Group, titled “Submersible Pumps Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global submersible pumps market reached a value of US$ 16.7 Billion in 2022. Also known as an electric submersible pump (ESP), a submersible pump is designed for being immersed in a well, tank or container. It pushes water to the surface from its submerged position by converting rotary energy into pressure energy. Its motor is encased in oil-filled compartments that do not have contact with the substance they are pumping. It is efficient, conserves energy and prevents the formation of vapor cavities in a liquid. Consequently, it finds application in irrigation, water treatment and oil extraction across the globe.

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 4.2% during the forecast period (2023-2028).

Market Summary:

  • Based on the type, the market has been segmented into open well, borewell and non-clog.
  • On the basis of the operation, the market has been bifurcated into single and multi-stage.
  • The market has been analyzed on the basis of the power rating into low, medium and high.
  • Based on the application, the market has been segregated into water and wastewater, mining and construction, pulp and paper, energy and power, food and beverages, chemicals and pharmaceuticals, and others.
  • 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, Flowserve Corporation, Grundfos Holding A/S, ITT Gould’s Pumps Inc., Kirloskar Brothers Limited, KSB Aktiengesellschaft, Schlumberger, Sulzer AG, Weir Group Plc., Wilo SE, Xylem Inc.


Report Scope:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Type, Operation, Power Rating, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Atlas Copco, Flowserve Corporation, Grundfos Holding A/S, ITT Gould’s Pumps Inc., Kirloskar Brothers Limited, KSB Aktiengesellschaft, Schlumberger, Sulzer AG, Weir Group Plc., Wilo SE and Xylem Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Submersible Pumps Market to Grow at 4.2% During 2023-2028, Stimulated by Escalating Demand for Wastewater Management
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