It is anticipated that the market for vertical immersion pumps Market will increase, with a Y-o-Y growth of 3.7% in 2022. In 2023, the market is anticipated to reach US$ 3,786.2 million. The adoption of IoT devices and the emergence of automation across industries are primarily responsible for the growth.
According to Future Market Insights, the application of vertical immersion pumps in irrigation, dewatering, and water cooling is the key factor propelling the growth in the market. As these pumps can withstand heavy temperatures, with the possibility of cavitation, the demand for vertical centrifugal immersion pumps will increase.
Over the past two decades, the urban population has grown by approximately 2%. To cater to the growing demand for basic necessities such as food and crops, the need for vertical immersion pumps in the irrigation sector is surging. Hence, key players are integrating technological advancements to capitalize on growing demand.
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This COVID-19 analysis of the report includes COVID-19 IMPACT on the production and, demand, supply chain. This report provides a detailed historical analysis of the global Vertical Immersion Pumps Market from 2017 to 2021 and provides extensive market forecasts from 2022 to 2032 by region/country and subsectors. The report covers the revenue, sales volume, price, historical growth, and future perspectives in the Vertical Immersion Pumps Market
Based on capacity, vertical immersion pumps up to 100m3/hr capacity are gaining immense popularity, especially for irrigation, dewatering, and potable water supply applications.
Key Takeaways from Vertical Immersion Pumps Market Study
- In terms of application, the irrigation segment will witness the highest growth over the forecast period
- Based on capacity, the up to 100m¬3/hr segment will account for a significant share on the back of growing application in the irrigation sector
- The U.S. is expected to spearhead the growth in North American vertical immersion pumps market through 2022 & beyond
- By product type, the cantilever pump (VS-5) is the most commonly used vertical immersion pump which acquires around half of the market volume-wise.
“Burgeoning use of vertical immersion pumps due to high-temperature comportment proportions and deterioration resistant property, the sales in the market are expected to increase at a steady rate.” says a Future Market Insights analyst.
Who is winning?
The vertical immersion pumps market is fragmented with several key players. As per FMI, top players are expected to hold around 35% to 40% of the market shares. These players are likely to invest in new technology developments and expansion of their distribution networks to maintain their market presence.
Some of the key players in this industry include
- Ruhrpumpen Group
- Brinkamann Pumps
- KSB Pumps
- Gusher Pumps
- ITT Inc.
- AxFlow Holdings AB
- Lutz JESCO GmbH
- Castle Pumps
- North Ridge Pump
- CRI Pumps
- FLUX Pumps
- Flowserve Corporation
- Tapflo Pumps UK
- Andritz
- Sulzer
- Lenntech BV
- Vertiflo Pump Company
- Salvatore Robuschi
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Global Vertical Immersion Pumps Market by Category
By Product Type:
- Line Shaft Pump (VS-4)
- Cantilever Pump (VS-5)
By Capacity:
- Up to 100m3/hr
- 100 to 500m3/hr
- 500 to 1000m3/hr
- Above 1000m 3/hr
By Application:
- Irrigation
- Potable Water Supply
- Water Cooling
- Dewatering
- Geothermal Well
- Oils, Fuels, Lubricants Transfer
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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