According to FMI projections, the global submersible pumps market is anticipated to witness substantial growth, with an estimated valuation reaching USD 19.39 billion by 2033, compared to USD 11.68 billion in 2023. This growth trajectory indicates a steady increase, with sales of submersible pumps projected to grow at a Compound Annual Growth Rate (CAGR) of 5.2% between 2023 and 2033.
A submersible pump is a type of water pump designed to be submerged underwater, typically in a well, borehole, or other water source. It operates by pushing water to the surface using a hermetically sealed motor that is fully enclosed in a watertight casing.
Submersible pumps manufacturers are focusing on launching cost-effective and high-efficiency products to improve sales. Governments of emerging economies in Africa and Asia, particularly in countries such as India, China and South Africa, are increasing efforts to improve access to drinking water in rural as well as urban areas, which in turn is benefiting the market.
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Top Key Players and their Recent Developments
Pleuger Industries, headquartered in Miami, Florida, stands as a global leader in the production and supply of submersible motors, pumps, thrusters, plunger pumps, and related services. Renowned worldwide for their unwavering dependability and exceptional durability, Pleuger’s products cater to a spectrum of industries including energy, mining, water management, industrial processing, and oil & gas. Engineered to withstand the harshest environments, Pleuger’s offerings are tailored to address the most challenging applications with precision and reliability.
In a strategic move announced in September 2022, Pleuger Industries appointed Sun-Star Electric Inc. based in Texas, USA, as the official service provider for Pleuger submersible motors. While clients across the globe may eventually benefit from Sun-Star’s extensive services, the initial service region primarily encompasses North and South America.
Furthermore, Pleuger Industries solidified its partnership with Submersible Motor Engineering Pty Ltd in July 2020 through a memorandum of understanding (MoU). This agreement underscores Pleuger’s commitment to fostering collaboration, exchanging expertise, and exploring innovative avenues for future collaboration with key industry players.
Atlas Copco AB, renowned for its technological prowess and engineering excellence, serves as a trusted partner across diverse sectors worldwide. Their cutting-edge products, services, and solutions empower clients to operate with unparalleled reliability, optimize productivity, reduce costs, minimize CO2 emissions, and advance sustainability objectives. Atlas Copco’s comprehensive product portfolio spans mobile construction and power equipment, vacuum and abatement solutions, industrial tools and assembly solutions, and components for air compressors.
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Submersible Pumps Market by Category
By Product Type:
- Non-clog Submersible
- Open Well Submersible
- Bore Well Submersible
By Head Type:
- Below 50 m
- 50 m- 100 m
- Above 100 m
By Application:
- Agriculture
- Industrial
- Oil & Gas
- Firefighting
- Mining
- Construction
- Other Industrial
- Municipal
- Water Supply & Distribution
- Wastewater Management
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- The Middle East and Africa