Submersible Pumps Market worth USD 24.78 billion by 2030, registering a CAGR of 7.22% - Report by Market Research Future (MRFR)

2021-12-23 07:51:19 By : Mr. raven hu

New York, Dec. 22, 2021 (GLOBE NEWSWIRE) -- Submersible Pumps Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Submersible Pumps Market Research Report: by Industry (Water & Wastewater, Oil & Gas, Agriculture & Irrigation, Construction, Mining, Others), by Well Type (Bore Well, Open Well), by Operation (Multi Stage, Single Stage), by Power Rating (High Power, Medium Power, Low Power), and Region - Forecast to 2030”.

Market Research Future’s Review on Submersible Pumps Market

Submersible Pumps Market is projected to be worth USD 24.78 billion by 2030, registering a CAGR of 7.22% during the forecast period (2022 - 2030), The market was valued at USD 11.81 billion in 2020.

Eminent industry players profiled in the global submersible pumps market report include

Tsurumi Manufacturing Co. Ltd. (Japan)

The Gorman-Rupp Company (U.S.)

The Weir Group PLC (U.K.)

Get Free Sample PDF Brochure

COVID-19 Analysis Supply chain disruptions, economic situations, fluctuations in demand share, along with long term and immediate effect of the novel coronavirus possessed a negative impact on the submersible pumps market growth. This outbreak has slowed the economic activity, thus pushing the economy in a steep recession. With the roots originating in China, supply chains across the globe are facing shutdown and unprecedented disruption. Following the relaxation of lockdowns, this market is likely to get back to normal in the days to come.

Drivers Growing Need for Oil & Gas from Various Sectors to Boost Market Growth The constantly growing need for oil & gas from various sectors like residential, transportation, and industrial will boost market growth over the forecast period. Following a substantial fall in the accessibility of oil reserves across the world, there has a wide use of submersible pumps for conducting extracting activities in deep-sea reserves.

Opportunities Increase Use of IoT to offer Robust Opportunities The increasing utilization of the (IoT) internet of things for remote access, data capturing, and in-depth monitoring will offer robust opportunities for the submersible pumps market over the forecast period. Besides, increasing investments in oil & gas exploration, increasing competition resulting in low price of submersible pumps, and real time monitoring of submersible pumps operations are also adding market growth. Also, the growing emphasis about wastewater discharges, the rising focus of key players to enhance and improve the operational performance of submersible pump, and increase in exploration activities for oil & gas are fuelling market growth.

Browse In-depth Market Research Report (190 pages) on Submersible Pumps Industry

Restraints High Troubleshooting Cost to act as Market Restraint The high troubleshooting cost, motor failure, and high competition from regional and local players may act as market restraints over the forecast period.

Challenges Volatility in Oil & Gas Prices to act as Market Challenge The volatility in oil & gas prices and high operation & maintenance cost may act as market challenges over the forecast period.

Share your Queries

Market Segmentation The global submersible pumps market is bifurcated based on end use, power rating, operation, and well type.

By well type, the bore well segment will lead the market over the forecast period.

By operation, the multi-stage segment will dominate the market over the forecast period.

By power rating, the high power segment will spearhead the market over the forecast period.

By end use, the water & wastewater segment will have the lions share in the market over the forecast period.

Regional Analysis APAC to Domineer Submersible Pumps Market The APAC region will domineer the submersible pumps market over the forecast period. Growing offshore exploration, increasing production activities in China, the booming water & wastewater industry in India and China that are looking to modernize their water management procedures and managing the needs of their growing populations, rapid economic expansion, the region attracting investors for setting up production facilities owing to availability of labor & raw materials at lower prices, increase in industrial activities for low manufacturing costs as well as the support from local governments, increasing investments in research and development, continued economic growth, China and India being the fastest growing economies, rise in industrial activities, and the growing need for water & wastewater treatment plants are adding to the global submersible pumps market growth in the region. Besides, the governments in various developing countries like China and India formulating policies for proliferating the industrial sector growth, expansion of industries like construction, and oil & gas that have widespread application of submersible pumps, rapid growth in urbanization in China that has boosted population density in urban areas leading to a fall in water quality, substantial increase in produced wastewater in the country, the Government of China increasing the regulation and incentives for the industrial sector for treating wastewater, the municipalities increasing investments on sewage water treatment as well as drinking water treatment plants, increasing water scarcity issues, increasing population, increasing need for packaged drinking water, growth in water treatment plants, as well as expanding capacity of existing facilities are also adding market growth.

The global submersible pumps market is both fragmented and also competitive for the presence of numerous international and also domestic industry players. Such key players have incorporated various innovative strategies for remaining at the vanguard and also catering to the burgeoning need of the esteemed clients including, partnerships, contracts, collaborations, new product launches, geographic expansions, joint ventures, and more. Besides, they are also investing in numerous research & development activities.

Segmentation of Market covered in the research:

Submersible Pumps Market Research Report: by Industry (Water & Wastewater, Oil & Gas, Agriculture & Irrigation, Construction, Mining, Others), by Well Type (Bore Well, Open Well), by Operation (Multi Stage, Single Stage), by Power Rating (High Power, Medium Power, Low Power), and Region - Forecast to 2030

To Buy:

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Well type, operation, power rating and end-use industry

North America, Europe, Asia-Pacific, and Rest of the World (RoW)

Xylem (U.S.), KSB Group (Germany), Flowserve Corporation (U.S.), EBARA CORPORATION (Japan), Tsurumi Manufacturing Co. Ltd. (Japan), The Gorman-Rupp Company (U.S.), Atlas Copco AB (Sweden), The Weir Group PLC (U.K.), Sulzer Ltd. (Switzerland), and Grundfos (Denmark).

New product launches and R&D Amongst major key Players

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

RBC Global Asset Management Inc. (RBC GAM Inc.) today announced December 2021 cash distributions for unitholders of RBC ETFs, as follows:

What happened Chinese electric vehicle (EV) maker Nio (NYSE: NIO) held its annual Nio Day event last weekend where it unveiled its latest new electric sedan. Though customers appear to be eager to purchase one, Nio stock's continued decline has resulted in a 22% drop in the stock's value over the past month.

The last two days have been busy for Naked Brand Group. Today's decline is really just a technical issue. But there's a bigger story here.

The billionaire founder of the world's largest hedge fund says "cash is trash."

Stock buybacks continue at a record pace, powered by these 20 very large companies.

Chinese internet giant Tencent Holdings Ltd. plans to distribute nearly its entire stake in e-commerce firm Inc. to its investors as dividend. Bloomberg Intelligence's Matthew Kanterman discusses what the move means for Tencent's prospects on "Bloomberg Markets: Asia."

Every year around this time, two powerful forces conspire to artificially suppress stock prices — and create bargains: Lust and vanity. As for the first force — the lust for profits — this is when individual investors dump losers to create tax losses to offset gains. The second force — vanity — has fund managers putting “window dressing” on their portfolios to get out of losers so they don’t have to show them in annual reports, points out Bruce Kaser, editor of the Cabot Turnaround Letter.

There's really just one thing Bank of America likes about Canopy Growth, and Sundial's got more of it.

(Bloomberg) -- Tesla Inc. has agreed to take the majority of battery-ready graphite from a production facility planned in Louisiana, as it races to secure supplies of the key material in a market dominated by China. Most Read from BloombergOmicron May Double Risk of Getting Infected on Planes, IATA SaysOmicron Has 80% Lower Risk of Hospitalization in South AfricaOmicron Hospitalization Risk Is Far Below Delta’s in Two StudiesJersey Shore Town Beats Florida Locales as Zillow Retirement HotspotBid

Novavax Inc. shares were volatile in the extended session Wednesday after the biotech drug maker said initial data showed its COVID-19 vaccine booster showed immune responses against the omicron variant.

The wealthiest dynasties have seen many bitter battles over power and inheritance.

(Bloomberg) -- Intel Corp. apologized after its opposition to Xinjiang labor sparked a backlash against the U.S. chipmaker in China, highlighting how multinational companies are increasingly getting caught up in a geopolitcal spat between two global powers over issues such as human rights. Most Read from BloombergOmicron May Double Risk of Getting Infected on Planes, IATA SaysOmicron Has 80% Lower Risk of Hospitalization in South AfricaOmicron Hospitalization Risk Is Far Below Delta’s in Two Stu

Yahoo Finance's Ines Ferre breaks down the biggest market movers in intraday trading.

Just because the market is falling doesn't mean the best place for your money is under the mattress.

Investors piled a record $900 billion into ETFs this year — nearly double what they invested in all of 2020. What are they so eager to buy?

The ARK Invest CEO argues that index funds are overvalued, while "stay at home" stocks are now trading at a discount.

The recent tech sell-off presents a great opportunity for investors to buy some quality stocks if you take a long-term approach.

Good things normally come to those who wait. But you might not want to hold off selling some of 2021's top S&P 500 stocks, analysts say.

What a ride 2021 has been for Cassava Sciences (SAVA) stock. The extent of the wild share price fluctuations can be gauged by the fact that despite shares pulling back 66% from July’s highs, the stock has still delivered a year-to-date gain of 520%. The highs – and the lows – have all been due to simufilam, the company’s candidate for the notoriously difficult-to-treat Alzheimer’s disease (AD). In clinical studies, simufilam has managed to do what other mooted AD treatment have never done before

Acadia Pharmaceuticals (NASDAQ: ACAD), a mid-cap biotech company that focuses on neuroscience therapies, saw its shares rise 10.6% on Wednesday. It plans to resubmit its supplemental New Drug Application (sNDA) for Nuplazid (pimavanserin), as a treatment for hallucinations and delusions associated with dementia. The company said it planned the resubmission, based on clinical data, for the first quarter of next year.

> "scrollToTop">Top