Submersible Pumps Market to Surpass $16 Billion by 2026
According to TechSci Research report, “Global Submersible Pumps Market By Type, By Mode of Operation, By Power Rating, By Head, Competition Forecast & Opportunities, 2012 – 2026″, the global submersible pumps market is forecast to surpass $ 16 billion by 2026. Submersible pumps push the fluid from submerged position to the surface, and thus are in huge demand in industrial and agricultural sectors. Growing industrialization coupled with huge investments for infrastructure and water treatment developments is expected to increase demand for submersible pumps across the globe during forecast period. Moreover, increase in number of food & beverage, pharma, chemical and other manufacturing units across the world is expected to positively influence global submersible pumps market during forecast period.
On the basis of type, global submersible pumps market has been broadly segmented into three categories, namely, open well submersible pumps, borewell submersible pumps and non-clog submersible pumps. Among these categories, non-clog submersible pumps are the most widely used type of submersible pumps across the world owing to their compact size, low noise, easy installation & maintenance and less chance of cavitation damage. Asia-Pacific controlled the largest share in global submersible pumps market in 2016 supported by robust growth of the industrial sector coupled with strong decline in freshwater resources. Increasing applications of submersible pumps in oil & gas industry and growing deep-water exploration activities are the prime factors expected to boost the demand for submersible pumps in Asia-Pacific during 2017 – 2026.
“Backed by growing population, increasing demand for food & beverage products and freshwater among consumers is boosting the demand for submersible pumps for water extraction and circulation systems across the globe. With increasing investments made to modernise the existing water supply coupled with growing applications such as groundwater pumping, subsea operations, etc., global submersible pumps market is expected to grow at a healthy pace during forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Submersible Pumps Market By Type, By Mode of Operation, By Power Rating, By Head, Competition Forecast & Opportunities, 2012 – 2026” has evaluated the future growth potential of global submersible pumps market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global submersible pumps market.
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