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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Overview

Submersible pumps are types of pumps that are submerged into the liquid to be pumped. These pumps offer various benefits including the prevention of cavitation as compared to standard submersible pumps. Such pumps find wide application in areas with water or fluid level below ground level. There are different types of submersible pumps including non-clog submersible pumps, open well submersible pumps and borewell submersible pumps. These pumps are compact and lightweight and can be installed with various kinds of piping, as they are easy to dismantle.  These pumps are used for industrial and domestic water supply, fire-fighting systems, gardening, and many more.

The global submersible pump market is estimated to account for US$ 15603.2 Mn in terms of value by the end of 2027.

Market Dynamics- Drivers

  1. Increasing infrastructure development is expected to drive growth of the global submersible pump market during the forecast period

The global demand for submersible pumps has increased significantly in the recent past. This is typically due to growing infrastructure development activities. Rising urbanization in emerging economies in India and China has led to increase in demand for submersible pumps across the globe. According to the United Nations (UN), by 2030, around 40.76% population of India is expected to live in urban areas. Water scarcity is a major issue plaguing various regions across the globe. Governments of various countries are implementing regulations mandating recycle and reuse of water, especially in industries. Thus, these factors is expected to drive growth of the global submersible pump market during the forecast period.

  1. Rising exploration activities for new water resources is expected to propel the global submersible pump market growth over the forecast period

Many governments in emerging regions such as MEA and Asia Pacific are focused on improving drinking water facilities in urban as well as rural areas. For this, the water resource exploration activities have been on a rise, which is expected to boost the sales of submersible pumps that offer enhanced efficiency and capacity for domestic as well as agricultural use. Desalinization projects are also expected to contribute to the adoption of submersible pumps, as most parts of the globe still lack the basic facility of running water. Thus, these factors are expected to propel the global submersible pump market growth over the forecast period.

Statistics:

Asia Pacific region held a dominant position in the global submersible pump market in 2019, accounting for 47% share in terms of value, followed by Europe, North America, Middle East & Africa and Latin America respectively.

Figure 1: Global Motor Submersible Pump Market Share (%), in terms of Value, By Region, 2019

Submersible Pumps  | Coherent Market Insights

Market Dynamics- Restraints

  1. Low price offerings from China-based pump manufacturers is expected to restrain growth of the global submersible pump market during the forecast period

The Chinese pump manufacturers are offering submersible pumps at a competitive cost. This, in turn, has led to increased pricing pressure on other players since these key players need to offer submersible pumps of high-quality, efficiency, and technologically advanced at competitive prices. International submersible pump vendors need to differentiate their products through various additional services and integration of advanced technologies. Hence, such factors are expected to restrain growth of the global submersible pump market during the forecast period.

  1. Low replacement rate due to long-life is expected to hinder the global submersible pump market growth over the forecast period

Lack of research and development has led to low product development and innovation. This is in turn affecting aftermarket sales of submersible pumps and their parts, due to their long operating life. Hence, these factors are expected to hinder the global submersible pump market growth over the forecast period.

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Submersible Pump Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 9,712.4 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 6.1% 2027 Value Projection: US$ 15603.2 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Argentina, Brazil, Mexico, Rest of Latin America
  • Europe: Germany, U.K., France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East & Africa: GCC Countries, South Africa, Rest of Middle East & Africa
Segments covered:
  • By Product Type: Non-clog Submersible, Open Well Submersible, Borewell Submersible.
  • By Application: Industrial Water & Wastewater, Agriculture & Irrigation, Oil & Gas, Firefighting, Mining, Construction, Non industrial water & wastewater, Other.
  • By Head Type: Below 50 meter, 50 m- 100 m, Above 100 m.
Companies covered:

Ebara Corporation, Flowserve Corporation, GRUNDFOS, Kirloskar Brothers Limited, KSB AG, Ruhrpumpen Group, Sulzer Ltd., The Weir Group plc, WILO SE, and Xylem Inc.

Growth Drivers:
  • Increasing infrastructure development
  • Rising exploration activities for new water resources
Restraints & Challenges:
  • Low price offerings from China-based pump manufacturers
  • Low replacement rate due to long-life

Market Opportunity

  1. Development of manufacturing and supply chain network can present opportunities in the global submersible pump market

Most small and medium size submersible pumps are sold through distributors. End users or customers are inclined towards opting for submersible pumps distributors that provide engineering expertise, aftersales services, and end-to-end solutions to meet the specific demands of customers. Most global players such as KSB AG, Wilo AG, Grundfos, and Xylem Inc. employ the strategy of expanding local networks by increasing tie-ups with regional as well as local distributors.

  1. Research and development activities among market players can provide major business in the global submersible pump market

Key companies are focused on research and development activities, in order to enhance the product portfolio. For instance, in January 2016, KSB AG launched the latest version of its self-priming centrifugal Etaprime pumps. In January 2016, Sulzer AG introduced submersible dewatering modular pumps using a built-in intelligence with an optional AquaTronic unit.

Figure 2: Global Submersible Pump Market Value (US$ Mn), 2017 - 2027

Submersible Pumps  | Coherent Market Insights

The global submersible pump market was valued at US$ 9,172.5 Mn in 2019 and is forecast to reach a value of US$ 15603.2 Mn by 2027 at a CAGR of 6.10% between 2020 and 2027.

Market Trends

  1. Increasing demand for energy-efficient pumps

Increasing energy cost remains a major factor affecting the demand for submersible pumps. Many industries are increasingly adopting solar-powered submersible pumps that offer significant operational cost savings. Of overall energy consumed by submersible pumps across the globe, pump motors account for an estimated 15% share. However, with over 40% of submersible pumps to be covered by stricter energy efficiency regulations by 2020, this number is expected to decline significantly.  

  1. Rising adoption of variable-frequency drive technology for submersible pump

Micro disc pumping technology allows pump manufacturers to produce compact and efficient submersible pumps. Since there is a rising trend for size reduction, compact and energy-efficient pumps are expected to gain a significant demand in the new future.

Global Submersible Pump Market- Impact of Coronavirus (Covid-19) Pandemic

According to Coherent Market Insights’ analysis, the impact of coronavirus (COVID-19) pandemic on the submersible pump market is moderately low in Bangladesh. For instance, in September 2020, in Rajshahi, Bangladesh, Approximately 189 individuals of 37 ethnic minority households have got access to drinking water through ‘submersible pump’ in the low rainfall Barind area with a voluntary organization amid the adverse effect of coronavirus disease (Covid-19) pandemic situation. Furthermore, Bangladesh Unity Federation of Los Angeles (BUFLA), a voluntary organization, under its ‘Arsenic-free Drinking Water Project’ build in 28 submersible pumps with the platform, overhead tank and outlet one each in 28 drought-hit villages under Tanore, Godagari and Paba Upazilas in Bangladesh.

Competitive Section

Major companies operating in the global submersible pump market are Ebara Corporation, Flowserve Corporation, GRUNDFOS, Kirloskar Brothers Limited, KSB AG, Ruhrpumpen Group, Sulzer Ltd., The Weir Group plc, WILO SE, and Xylem Inc.

Key Developments

  1. For instance, in February 2019, Ruhrpumpen Group partnered Wolong Electric for the development of pumping equipment for the Missan Oil Field in Iraq
  2. For instance, in November 2019, WILO USA LLC, a subsidiary WILO SE, acquired Marsh Pumps, a U.S.-based pump manufacturer

A submersible pump, also called as an electric submersible pump (ESP), is a pump that can be submerged into a fluid. These pumps are equipped with hermetically sealed motor, which is close to the pump body. Additionally, these pumps are compact and lightweight and can be installed with several kinds of piping, as they are easy to dismantle. Furthermore, there are different types of submersible pumps available in the market such as non-clog submersible pumps, open well submersible pumps, and borewell submersible pumps.

Market Dynamics

The continued research and development of submersible pump (SP) is of utmost importance to the manufactures and companies involved in the innovation. The launch of innovative new products from the significant companies such as Kirloskar Brothers Limited (KBL) and others will boost the global submersible pump (SP) market. For instance, in October 2020, Kirloskar Brothers Limited (KBL), an engineering and manufacturing of fluid management systems company introduced a new wide range of low maintenance, energy-efficient submersible pump (SP) coupled pump-sets with IE4 motor for dewatering applications and others.

For instance, in February 2019, Kirloskar Brothers Limited (KBL) an engineering and manufacturing of fluid management systems company introduced two pumps such as KU6 - oil-filled borewell submersible pump, KVM (Kirloskar Vertical Multi-stage) pump and water filtration K-Kleen 25 kit for multiple application such as sprinkler & drip systems in farms, domestic and industrial water supply, and others.

Moreover, in January 2018, Kirloskar Brothers Limited (KBL) an engineering and manufacturing of fluid management systems company launched ‘KOSi' pumps’ open well submersible pumps for the agriculture and domestic application.

Market Taxonomy

This report segments the global submersible pump market on the basis of product type, application, head type, and region. On the basis of product type, the global submersible pump market is segmented into non-clog submersible, open well submersible, borewell submersible. On the basis of application, the global submersible pump market is segmented into industrial water & wastewater, agriculture & irrigation, oil & gas, firefighting, mining, construction, non-industrial water & wastewater, and other. On the basis of head type, the global submersible pump market is segmented into below 50 meter, 50 m- 100 m, and above 100 m. On the basis of region, the global submersible pump market is segmented into North America, Latin America, Europe, the Asia Pacific, and Middle East & Africa

Key features of the study:

  • This report provides an in-depth analysis of the global submersible pump market and provides market size (US$ million and units) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year.
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global submersible pump market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the global submersible pump market include Ebara Corporation, Flowserve Corporation, GRUNDFOS, Kirloskar Brothers Limited, KSB AG, Ruhrpumpen Group, Sulzer Ltd., The Weir Group plc, WILO SE, and Xylem Inc.
  • The market players are focusing on strategic collaborations to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global submersible pump market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global submersible pump market.

Detailed Segmentation:

  •  Global Submersible Pump Market, Product Type:
    • Non-clog Submersible
    • Open Well Submersible
    • Borewell Submersible
  • Global Submersible Pump Market, By Application:
    • Industrial Water & Wastewater
    • Agriculture & Irrigation
    • Oil & Gas
    • Firefighting
    • Mining
    • Construction
    • Non-industrial water & wastewater
    • Others
  • Global Submersible Pump Market, By Head Type:
    • Below 50 meter
    • 50 m-100 m
    • Above 100 m
  • Global Submersible Pump Market, By Region:
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East & Africa
  • Company Profiles
    • Ebara Corporation*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Flowserve Corporation
    • GRUNDFOS
    • Kirloskar Brothers Limited
    • KSB AG
    • Ruhrpumpen Group
    • Sulzer Ltd.
    • The Weir Group plc
    • WILO SE
    • Xylem Inc.

 *Browse all the market data tables and figures on “Global Submersible Pump Market- Forecast to 2027”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Application
      • Market Snippet, By Head Type
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New System Launch/Approval
  4. Global Submersible Pump Market - Impact of Coronavirus (Covid-19) Pandemic
    • Short Term and Long Term Impact, By Region
      • North America
      • Latin America
      • Europe
      • Asia-Pacific
      • MEA
    • Short Term and Long Term Impact, By Product Type
      • Non-clog Submersible
      • Open Well Submersible
      • Borewell Submersible
  5. Global Submersible Pump Market, By Product Type, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Non-clog Submersible
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Open Well Submersible
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Borewell Submersible
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  6. Global Submersible Pump Market, By Application, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Industrial Water & Wastewater
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Agriculture & Irrigation
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Oil & Gas
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Firefighting
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Mining
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Construction
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Non industrial water & wastewater
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Other
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  7. Global Submersible Pump Market, By Head Type, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Below 50 meter
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • 50 m-100 m
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Above 100 m
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  8. Global Submersible Pump Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2019 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Head Type, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Head Type, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Argentina
        • Brazil
        • Mexico
        • Rest of Latin America
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Head Type, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Head Type, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • ASEAN
        • Japan
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Middle East & Africa
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Head Type, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of Middle East & Africa
  9. Competitive Landscape
    • Company Profiles
      • Ebara Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Flowserve Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • GRUNDFOS
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Kirloskar Brothers Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • KSB AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Ruhrpumpen Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Sulzer Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • The Weir Group plc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • WILO SE
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Xylem Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  10. Section
    • References
    • Research Methodology
    • About Us and Sales Contact

*Browse XX market data tables and XX figures on “Global Submersible Pump Market-forecast to 2027”

FAQgrowicon

Frequently Asked Questions

The global submersible pump market size was valued at US$ 9,172.5 million in 2019 and is estimated to exhibit a CAGR of 6.1% between 2020 and 2027.
Borewell submersible held the major market share in 2019 owing to growing urbanization in emerging economies in India and China.
A major factor driving the growth of global submersible pump market during the forecast period are increasing demand for energy-efficient manufacturing operations, especially in developed countries.
A major factor hampering the growth of the submersible pump market during the forecast period is a Motor failure and high troubleshooting cost.
Asia Pacific region, submersible pump market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the market are Ebara Corporation, Flowserve Corporation, GRUNDFOS, Kirloskar Brothers Limited, KSB AG, Ruhrpumpen Group, Sulzer Ltd., The Weir Group plc, WILO SE, and Xylem Inc.
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