In the last few years, water stress has been a leading concern across the world, which has in turn fuelled the demand for new water sources to fulfill the industrial as well domestic water need. Waste water treatment is becoming more popular around the world as means to relieve water scarcity, which is also driving the global submersible pumps markets.
Get | Download Sample Copy with Graphs & List of Figures:
https://www.futuremarketinsights.com/reports/sample/rep-gb-817
Sales of submersible pumps were however dampened due to the outbreak of the COVID-19 pandemic. Disruptions in supply chain and suspended production activities in the oil and gas sector resulted in stagnated demand for submersible pumps.
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.
“Initiatives undertaken by governments for waste water management and encouraging the use of technologically-driven equipment in agricultural sector are expected to spur the demand for submersible pumps,” said Future Market Insights analyst.
Competitive Landscape:
Some of the key submersible pumps manufacturers include Kubota Corporation, Wacke Neuson Group, Atlas Copco, ABKSB SE & Co. KGaA, Xylem Inc.,Ebara Corporation, Grundfos, Sulzer AG, The Weir Group PLC, Tsurumi Manufacturing Co., Ltd. Kriloskar Brothers Ltd., Flowserve Corporation.
The global submersible pumps market is fairly fragmented owing to the presence of several players across the globe. Moreover, leading share in the market is accounted by unorganized players which is estimated to be at around 50%-55%. Key market players are focusing on research and development to expand their product portfolio. Besides this, they are actively investing in mergers, acquisitions, and strategic collaborations to expand their global footprint.
Request a Complete TOC of this Report with figures:
https://www.futuremarketinsights.com/toc/rep-gb-817
2016-2020 Submersible Pumps Market Outlook Compared to 2021-2031 Forecast:
Revenue generated by the industrial segment of the submersible pumps market will continue increasing gradually through 2021. According to the study, the demand for submersible pumps grew by 4.6% between 2020 and 2021, exhibiting positive signs of recovery in the market. As of 2020, submersible pumps represented between 18% and 20% of the overall pumps market.
In the agricultural sector, farmers have been exhibiting high adoption of technology driven equipment such as heavy duty submersible pumps for supplying water into the farm. Municipal water distribution and waste water treatment are expected to witness impressive growth in the coming years, which in turn is anticipated to support the growth in the global market.
Leading manufacturing companies are focusing on expanding their product portfolio by investing in research & development activities for development of new products. Through this they intend to offer improved durability and bolster expansion of their distribution channels in various countries around the world.
The U.S. is expected to dominate submersible pumps market in the forecast period due to the increasing exploration of shale reserves and oil and gas projects. The market in the U.S. is driven by the implementation of stringent wastewater treatment policies to support recovery in the oil and gas and mining industries, growth in the construction industry, and overall expansion of industrial infrastructure.
For More Information or Query or Customization Before Buying, Visit:
https://www.futuremarketinsights.com/customization-available/rep-gb-817
By Category:
By Product Type:
- Non Clog Submersible
- Open Well Submersible
- Bore Well Submersible
By Head Type:
- Below 50 meter
- 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
- MEA