WASHINGTON, Dec. 13, 2021 (GLOBE NEWSWIRE) -- Vantage Market Research have published a new research report titled “Submersible Pump Market by Type (Electrical, Hydraulic and Air-Driven), by Application (Open Pit and Bore-well), by Operation (Single-stage and Multi-stage), by Power Rating (Below 1 HP, 1–5 HP, 5–15 HP and Above 15 HP), by Sector (Industrial, Agricultural and Domestic), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”, report has been added to VantageMarketResearch.com’s offering.
“According to the latest research study, the demand of global Submersible Pump Market size & share expected to reach to USD 21.52 Billion by 2028 from USD 12.31 Billion in 2020, at a compound annual growth rate (CAGR) of 7.2% during the forecast period 2021 to 2028”
The COVID-19 pandemic has affected the market in the initial years of the pandemic due to the disruption in supply chains. The government in numerous regions imposed strict regulation on the movements of goods and services, which further affected the delivery of raw material needed by the industry. The companies acted swiftly and tried to offset the losses by reducing their capital spends and carefully adjusted dividend policy. These resulted in very resilient cash flow generation throughout 2020 for numerous companies. This helped them to survive 2020 along with the collaboration and remote operation.
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Our Free Sample Reports Includes:
- In-depth Industry Analysis, Introduction, Overview, and COVID-19 Pandemic Outbreak.
- Impact Analysis 150+ Pages Research Report (Including latest research)
- Provide chapter-wise guidance on request 2020 Updated Regional Analysis with Graphical Representation of Trends, Size, & Share, Includes Updated List of figures and tables.
- Updated Report Includes Major Market Players with their Sales Volume, Business Strategy and Revenue Analysis by using VMR research methodology.
(Please note that the sample of this report has been updated to include the COVID-19 impact study prior to delivery.)
Market Overview:
Increasing Demand for Oil and Gas Industry Market
The oil and gas industry are anticipated to dominate the Submersible Pump Market and is driven by the United States. The surging exploitation of shale reserve in the U.S has resulted in growing production of wastewater. Also, the lack of government and water regulation on wastewater treatment is encouraging the oil and gas industry to pump the wastewater from the field. This is expected to support market growth in the long run. Additionally, in oil and gas industry electrically operated submersible pumps systems also known as effective artificial lift method for pumping production fluids to the surface.
The drilling process extract a huge amount of natural gas and oil from reservoir rock, a lot of it stay trapped in the reservoir itself. The shale reservoirs need more processes to enhance oil production. The extraction processes are done horizontally and are prone to water shutoffs which require cementing or zone isolation processes. Thus, to overcome this water clogging and zone isolation and cementing processes the submersible pump is increasingly use. All this is expected to propel the demand for Submersible Pumps market in the projected timeframe.
The Report on Submersible Pump Market Highlights:
- Global and Regional Dynamics
- Premium Insights
- Assessment of the market
- Company Profiles
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
Increasing Investments in Construction Industry Attributed to Rapid Urbanization
Increasing investments activities in the construction industry will play a crucial role in the growth of the economies globally and regionally. Increased spending on capital and residential projects along with growing infrastructural is expected to propel the market demand in the projected time frame. Additionally, Asia Pacific countries such as India, China, Indonesia along with others budding economic countries are investing heavily in infrastructure development. Many budding economies are investing in infrastructure to commercialization and modernization to cater increasing need of the hour. This is expected to fuel major sectors like power and waste water treatment, which will eventually support market growth for Submersible Pump Market.
Important questions answered in this report:
- What is the estimated market size and growth rate of the Submersible Pump Market?
- Which segments are included in the Submersible Pump Market?
- Which top companies are active in the Submersible Pump Market?
- What are the major driving factors for the growth of the Submersible Pump Market?
- How can I get free sample reports or study of Submersible Pump Market?
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Regional Analysis:
Asia Pacific Dominates the Submersible Pump Market
The market for submersible pumps is majorly driven by the growing urbanization, decline in fresh water resources and deep-water exploration activities among others. Submersible pumps are essential part of the crude oil production and also contributes to the surging efficiency of crude oil production. The market is also driven by the increasing deep offshore drilling activities along with the increasing number of maturing oilfields.
Advantages of this Research:
- Evaluate market share for commercial Submersible Pump market opportunities, track market size, competitive drug sales, synthesis insights for commercial development and licensing.
- Develop tactics and strategies to take advantage of opportunities in the Submersible Pump market.
- Latest Trends and Market Events and analyze essential events in Submersible Pump market.
- Develop an in-depth knowledge of competition and analyze sales data to update your brand planning trackers.
- Answer vital business questions; supports decision making in R&D to long term marketing strategies
- Develop economic models, forecast models, and healthcare frameworks.
The growth is also attributed to the rapid economic expansion. This is attracting manufacturers to set up their manufacturing facility in the region. Cheap labour and availability of raw material will further propel the market for Submersible Pump Market. Growing Industrial activities due to low manufacturing costs and government support along with the increasing investments in R&D are some of the factors which are expected to promote growth for Asia pacific region.
List of Prominent Players in the Submersible Pump Market:
| Sr. No. | Companies | Headquaters |
| 1. | Xylem | U.S. |
| 2. | Sulzer | Switzerland |
| 3. | KSB Group | Germany |
| 4. | Grundfos | Denmark |
| 5. | Atlas Copco | Sweden |
| 6. | Tsurumi Manufacturing | Japan |
| 7. | Grindex | Sweden |
| 8. | Flowserve | U.S. |
| 9. | Wilo | Germany |
| 10. | Vansan | Turkey |
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Recent Developments in the Industry:
- In November 2020, Sulzer was awarded a contract from Ringkbing-Skjern Forsyning A/S (a Danish water utility) to provide pumps for a major flood defense project in Denmark. Two new pumping stations have been constructed to mitigate the impact of rising water levels during rain, drainage, and cloudburst water. Sulzer will supply one XFP baseload pump and three VUPX peak load pumps for the Ringkøbing pumping station, together with one XFP baseload pump and four VUPX peak load pumps for the adjacent Skælbækker station.
- In May 2020, Wilo expanded its presence with the establishment of a new headquarter and production facility in Cedarburg, Wisconsin, US. The new headquarters will bring the combined operations of Wilo USA, Weil Pump, Scot Pump, and Wilo Machine Co. to a single production site.
This report provides details about prevalence, incidence, distribution of patients, and average price of treatment, market & technological trends and new product developments of Submersible Pump Market.
| Report Attribute | Details |
| Market Size 2020 Value | USD 12.31 Billion |
| Market Forecast for 2028 | USD 21.52 Billion |
| Expected CAGR Growth | CAGR of 7.2% from 2021 to 2028 |
| Base Year | 2020 |
| Historic Years | 2016 – 2019 |
| Forecast Years | 2021 – 2028 |
| Segments Covered | By Type
|
| Quantitative Data – Units | Revenue in USD billion/billion and CAGR from 2021 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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