At what pace is the submersible pumps market growing, and what is its estimated value?
The submersible pumps market size has grown strongly in recent years. It will grow from $13.68 billion in 2024 to $14.65 billion in 2025 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to increasing use in wastewater treatment, increasing use in the construction of homes, growth in emphasis on sustainable and energy-efficient technologies, increase in industrial activities, and surge in the construction industry.
The submersible pumps market size is expected to see strong growth in the next few years. It will grow to $19.1 billion in 2029 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to increasing agricultural and industrial activities, growing demand for electricity, increasing irrigation activities, rising urbanization, and rising measures to treat and reuse discharged wastewater. Major trends in the forecast period include advancements in energy-efficient models, advancements in smart pump technologies, integration of IoT for real-time monitoring, innovative wastewater management solutions, improved corrosion-resistant materials, and adoption of solar-powered submersible pumps.
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What are the top drivers to the rising demand in the submersible pumps market?
The increasing agriculture activities are expected to propel the growth of the submersible pumps market going forward. Agriculture involves growing crops and raising animals for food, fiber, and other essential products. It includes farming, livestock, forestry, and fishing, and is crucial for the global economy. Agricultural activities are increasing due to growing global food demand, technological advancements, and the expansion of arable land. Submersible pumps are used in agriculture to efficiently extract water from wells, rivers, or reservoirs for irrigation and crop management. For instance, in February 2024, according to the data published by the Department for Environment, Food, and Rural Affairs, a UK-based government agency, an estimated agricultural sector saw a 3.4% increase from 2021 to 2022. Therefore, increasing agricultural activities are driving the submersible pumps market going forward.
How is the submersible pumps market segmented?
The submersible pumpsmarket covered in this report is segmented –
1) By Product Type: Non-Clog Submersible, Open Well Submersible, Bore Well Submersible
2) By Drive Type: Electric, Hydraulic, Other Drive Types
3) By Head Type: Below 50 m, 50m – 100 m, Above 100 m
4) By Industry: Water And Wastewater, Oil And Gas, Construction, Mining, Other Industries
Subsegments:
1) By Non-Clog Submersible: Sewage Pumps, Drainage Pumps, Sludge Pumps
2) By Open Well Submersible: Vertical Open Well Pumps, Horizontal Open Well Pumps
3) By Bore Well Submersible: Single-Phase Bore Well Pumps, Three-Phase Bore Well Pumps
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Who are the top competitors in the submersible pumps market?
Major companies operating in the submersible pumps market are Schlumberger NV, Baker Hughes Company, Atlas Copco, Andritz AG, NOV Inc., Flowserve Corporation, Xylem Inc., Ebara Corporation, Grundfos Holding A/S, Sulzer Ltd., ITT Inc., KSB SE & Co. KGaA, Wacker Neuson, Wilo SE, Franklin Electric Co. Inc., Gorman-Rupp Company, Ruhrpumpen Inc., Zoeller Company, SPP Pumps Ltd., Calpeda S.p.A, DAB Pumps SpA, Tsurumi Manufacturing Co. Ltd ., SAER Elettropompe S.p.A, HCP Pump Manufacturer Co. Ltd., Flacks Group
What significant trends should we anticipate in the submersible pumps market over the forecast period?
Major companies operating in the submersible pumps market are focusing on technological developments such as higher-efficiency submersible pumps to gain a competitive edge. Higher-efficiency submersible pumps are advanced pumps designed to maximize energy use while delivering optimal water flow and pressure. For instance, in February 2022, Shakti Pumps India Limited, an India-based submersible pump manufacturing company, launched a 4-inch plug-and-play submersible pump. This innovative feature allows for quick installation without the need for complex wiring or setup. Users can simply connect the pump to the power source and start using it immediately, reducing downtime and labor costs.
Which regional trends are influencing the submersible pumps market, and which area dominates the industry?
Asia-Pacific was the largest region in the submersible pumps market in 2024. The regions covered in the submersible pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Submersible Pumps Market Report 2025 Offer?
The submersible pumps market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Submersible pumps are devices designed to operate while fully submerged in liquids, typically water or other fluids. They work by pushing liquid to the surface, using a motor that is sealed to prevent leakage or damage. These pumps are commonly used in applications such as drainage, sewage pumping, and well water extraction.
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