Submersible Pump Market Size to Grow by USD 5.05 Billion, 44% of Market Growth to Originate from APAC - Technavio

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Nov 16, 2022, 15:30 ET

NEW YORK, Nov. 16, 2022 /PRNewswire/ -- The submersible pump market size is expected to grow by USD 5.05 billion from 2021 to 2026. The report projects that the growth momentum of the market will accelerate at a CAGR of 3.63% during the forecast period. The report offers a detailed analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Get a comprehensive report summary that describes the market size and forecast along with research methodology. The FREE sample report is available in PDF format

Submersible Pump Market: Segmentation Analysis

Technavio has announced its latest market research report titled Global Submersible Pump Market 2022-2026

This report segments the submersible pump market by application (bore well and open well) and geography (APAC, Europe, North America, Middle East and Africa, and South America).

APAC will lead the submersible pump market during the forecast period. The APAC region is expected to account for 44% of the market's growth during the forecast period. This growth is attributed to factors such as rapid growth of the construction sector. Moreover, market growth in this region will be faster than the growth of the market in other regions. China and India are the key countries for the submersible pump market in APAC.

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The bore well segment will be a significant contributor to market growth during the forecast period. Bore well pumps are primarily used in the industrial sector. They are also being used in domestic water supply in regions with water scarcity. These pumps are cost-effective and require lesser time for installation compared with open well submersible pumps. The growth of this segment is primarily driven by the industrial sector, which needs a continuous flow of water for various operations.

Technavio has identified key trends, drivers, and challenges in the market, which will help vendors improve their strategies to stay ahead of their competitors. Buy Now for detailed information about market dynamics

Submersible Pump Market: Key Market Drivers and Trends

The rapid growth in the construction sector is driving the market growth. Submersible pumps are used to pump excess water and slurries at construction sites. They are also used to pump out septic tanks. Therefore, the rise in construction activities across the globe has aided the growth of the global submersible pump market in the last few years. Government initiatives such as China's Belt Road Initiative (BRI) and India's Make in India program will lead to infrastructural development in emerging countries during the forecast period. Such factors will drive the growth of the global submersible pump market during the forecast period.

The growing adoption of IoT in the oil and gas industry is a key trend in the market. The use of IoT for in-depth monitoring and data capture in key end-user industries, such as oil and gas, is increasing the overall performance efficiency of submersible pumps. Moreover, oil rig operators and oil producers place a high emphasis on the energy efficiency of oilfields. Oil viscosity, market prices, pressure, and oil well conditions are some of the key factors that affect daily oil production. Key vendors are offering IoT-enabled submersible pumps. Hence, real-time data collection has increased significantly. IoT enables remote access and fast troubleshooting for oilfield equipment, such as submersible pumps. Thus, the rising trend of adopting IoT-enabled submersible pumps will be a key trend during the forecast period.

Technavio has identified key trends, drivers, and challenges in the market, which will help vendors improve their strategies to stay ahead of their competitors. View our FREE PDF Sample Report

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Submersible Pump Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 3.63%
Market growth 2022-2026	USD 5.05 billion
Market structure	Fragmented
YoY growth (%)	2.6
Regional analysis	APAC, Europe, North America, the Middle East and Africa, and South America
Performing market contribution	APAC at 44%
Key consumer countries	US, China, India, Germany, and Russia
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	Atlas Copco AB, Ebara Corp., Flowserve Corp., General Electric Co., Grundfos Holding AS, Halliburton Co., Hitachi Ltd., HOMA Pumpenfabrik GmbH, ITOCHU Corp., ITT Inc., Kirloskar Brothers Ltd., KSB SE & Co. KGaA, Ruhrpumpen Group, Schlumberger Ltd., Sulzer Ltd., The Weir Group Plc, VIRA PUMPS, Wilo SE, Xylem Inc., and Zoeller Co.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of Contents

1 Executive Summary

1.1 Market overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
Exhibit 06: Executive Summary – Chart on Incremental Growth
Exhibit 07: Executive Summary – Data Table on Incremental Growth
Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 09: Parent market
Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026

Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary

Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers

Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers

Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants

Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes

Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry

Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition

Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Application

5.1 Market segments

Exhibit 24: Chart on Application - Market share 2021-2026 (%)
Exhibit 25: Data Table on Application - Market share 2021-2026 (%)

5.2 Comparison by Application

Exhibit 26: Chart on Comparison by Application
Exhibit 27: Data Table on Comparison by Application

5.3 Bore well - Market size and forecast 2021-2026

Exhibit 28: Chart on Bore well - Market size and forecast 2021-2026 ($ million)
Exhibit 29: Data Table on Bore well - Market size and forecast 2021-2026 ($ million)
Exhibit 30: Chart on Bore well - Year-over-year growth 2021-2026 (%)
Exhibit 31: Data Table on Bore well - Year-over-year growth 2021-2026 (%)

5.4 Open well - Market size and forecast 2021-2026

Exhibit 32: Chart on Open well - Market size and forecast 2021-2026 ($ million)
Exhibit 33: Data Table on Open well - Market size and forecast 2021-2026 ($ million)
Exhibit 34: Chart on Open well - Year-over-year growth 2021-2026 (%)
Exhibit 35: Data Table on Open well - Year-over-year growth 2021-2026 (%)

5.5 Market opportunity by Application

Exhibit 36: Market opportunity by Application ($ million)

6 Customer Landscape

6.1 Customer landscape overview

Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation

Exhibit 38: Chart on Market share by geography 2021-2026 (%)
Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison

Exhibit 40: Chart on Geographic comparison
Exhibit 41: Data Table on Geographic comparison

7.3 APAC - Market size and forecast 2021-2026

Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.4 Europe - Market size and forecast 2021-2026

Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.5 North America - Market size and forecast 2021-2026

Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.6 Middle East and Africa - Market size and forecast 2021-2026

Exhibit 54: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 55: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 56: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
Exhibit 57: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.7 South America - Market size and forecast 2021-2026

Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.8 US - Market size and forecast 2021-2026

Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)

7.9 China - Market size and forecast 2021-2026

Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)

7.10 India - Market size and forecast 2021-2026

Exhibit 70: Chart on India - Market size and forecast 2021-2026 ($ million)
Exhibit 71: Data Table on India - Market size and forecast 2021-2026 ($ million)
Exhibit 72: Chart on India - Year-over-year growth 2021-2026 (%)
Exhibit 73: Data Table on India - Year-over-year growth 2021-2026 (%)

7.11 Germany - Market size and forecast 2021-2026

Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)

7.12 Russia - Market size and forecast 2021-2026

Exhibit 78: Chart on Russia - Market size and forecast 2021-2026 ($ million)
Exhibit 79: Data Table on Russia - Market size and forecast 2021-2026 ($ million)
Exhibit 80: Chart on Russia - Year-over-year growth 2021-2026 (%)
Exhibit 81: Data Table on Russia - Year-over-year growth 2021-2026 (%)

7.13 Market opportunity by geography

Exhibit 82: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges

Exhibit 83: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape

Exhibit 84: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption

Exhibit 85: Overview on factors of disruption

9.4 Industry risks

Exhibit 86: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered

Exhibit 87: Vendors covered

10.2 Market positioning of vendors

Exhibit 88: Matrix on vendor position and classification

10.3 Atlas Copco AB

Exhibit 89: Atlas Copco AB - Overview
Exhibit 90: Atlas Copco AB - Business segments
Exhibit 91: Atlas Copco AB - Key news
Exhibit 92: Atlas Copco AB - Key offerings
Exhibit 93: Atlas Copco AB - Segment focus

10.4 Flowserve Corp.

Exhibit 94: Flowserve Corp. - Overview
Exhibit 95: Flowserve Corp. - Business segments
Exhibit 96: Flowserve Corp. - Key news
Exhibit 97: Flowserve Corp. - Key offerings
Exhibit 98: Flowserve Corp. - Segment focus

10.5 General Electric Co.

Exhibit 99: General Electric Co. - Overview
Exhibit 100: General Electric Co. - Business segments
Exhibit 101: General Electric Co. - Key news
Exhibit 102: General Electric Co. - Key offerings
Exhibit 103: General Electric Co. - Segment focus

10.6 Grundfos Holding AS

Exhibit 104: Grundfos Holding AS - Overview
Exhibit 105: Grundfos Holding AS - Product / Service
Exhibit 106: Grundfos Holding AS - Key news
Exhibit 107: Grundfos Holding AS - Key offerings

10.7 Halliburton Co.

Exhibit 108: Halliburton Co. - Overview
Exhibit 109: Halliburton Co. - Business segments
Exhibit 110: Halliburton Co. - Key news
Exhibit 111: Halliburton Co. - Key offerings
Exhibit 112: Halliburton Co. - Segment focus

10.8 ITOCHU Corp.

Exhibit 113: ITOCHU Corp. - Overview
Exhibit 114: ITOCHU Corp. - Business segments
Exhibit 115: ITOCHU Corp. - Key offerings
Exhibit 116: ITOCHU Corp. - Segment focus

10.9 Schlumberger Ltd.

Exhibit 117: Schlumberger Ltd. - Overview
Exhibit 118: Schlumberger Ltd. - Business segments
Exhibit 119: Schlumberger Ltd. - Key offerings
Exhibit 120: Schlumberger Ltd. - Segment focus

10.10 Sulzer Ltd.

Exhibit 121: Sulzer Ltd. - Overview
Exhibit 122: Sulzer Ltd. - Business segments
Exhibit 123: Sulzer Ltd. - Key news
Exhibit 124: Sulzer Ltd. - Key offerings
Exhibit 125: Sulzer Ltd. - Segment focus

10.11 The Weir Group Plc

Exhibit 126: The Weir Group Plc - Overview
Exhibit 127: The Weir Group Plc - Business segments
Exhibit 128: The Weir Group Plc - Key news
Exhibit 129: The Weir Group Plc - Key offerings
Exhibit 130: The Weir Group Plc - Segment focus

10.12 Xylem Inc.

Exhibit 131: Xylem Inc. - Overview
Exhibit 132: Xylem Inc. - Business segments
Exhibit 133: Xylem Inc. - Key offerings
Exhibit 134: Xylem Inc. - Segment focus

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist

Exhibit 135: Inclusions checklist
Exhibit 136: Exclusions checklist

11.3 Currency conversion rates for US$

Exhibit 137: Currency conversion rates for US$

11.4 Research methodology

Exhibit 138: Research methodology
Exhibit 139: Validation techniques employed for market sizing
Exhibit 140: Information sources

11.5 List of abbreviations

Exhibit 141: List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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