Submersible Pump Market

Submersible Pump Market by Type (Electrical, Hydraulic, Air-Driven), by Application (Open Pit, Borewell), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)

Frequently Asked Questions

  • What is the global demand for Submersible Pump in terms of revenue?

    The global Submersible Pump valued at 12.31 Billion in 2020 and is expected to reach 21.52 Billion in 2028 growing at a CAGR of 7.2%%

  • Which are the prominent players in the market?

    The prominent players in the market are Xylem, Sulzer, KSB Group, Grundfos, and Atlas Copco.

  • At what CAGR is the market projected to grow within the forecast period?

    The market is project to grow at a CAGR of 7.2%% between 2021 and 2028.

  • What are the driving factors fueling the growth of the market.

    The driving factors of the Submersible Pump include

    • Investments in the construction industry are playing a vital role in the growth of the global and regional economies. It is expected that spending on capital projects and infrastructure will grow significantly in the next decade. China, India, Indonesia, and other countries of Asia Pacific are highly investing in infrastructure development.
    • The water & wastewater treatment facilities in the developed countries are aging and are shifting toward the end of the operational lifecycle. High investments are required in reinstalling and upgrading the old infrastructure to overcome this situation. On the other hand, several emerging economies still do not have adequate access to drinking water and have just started building upgraded water infrastructure. Such initiatives to upgrade aging infrastructure is likely to create lucrative growth opportunities for the submersible pumps market.

  • Which region accounted for the largest share in the market?

    Asia Pacific was the leading regional segment of the Submersible Pump in 2020.

Request Sample Buy Now