Submersible Pumps Market Dynamics, Growth Opportunities, Size, Share, Target Audience, Prominent Players and Comprehensive Research Study by Forecast till 2023
May 10, 2019
Submersible Pumps Market Size is expected to reach USD 14,127.2 million by 2023 at a CAGR of 5.57% over the forecast period of 2018 to 2023 and Global Submersible Pumps Market report is categorized by Well Type, Power Rating and End User Industry.
Pune, India - May 10, 2019 /MarketersMedia/ —
The global submersible pumps market is expected to rise from a 2017 valuation of USD 10,204.7 million to a 2023 valuation of USD 14,127.2 million at a CAGR of 5.57% over the forecast period (2018-2023), as per the findings of Market Research Future (MRFR). Submersible pumps are used in pumping fluids while being submerged in oil wells. They utilize a series of impellers that push the fluid progressively towards the top. Submersible pumps present a stark contrast to jet pumps, which pull the fluid out rather than pushing it. As a result, they are more efficient than jet pumps.
Submersible Pumps Market Leading Players Analyzed Are:
Xylem (U.S.), KSB Group (Germany), Flowserve Corporation (U.S.), EBARA CORPORATION (Japan), Tsurumi Manufacturing Co. Ltd. (Japan), The Gorman-Rupp Company (U.S.), Atlas Copco AB (Sweden), The Weir Group PLC (U.K.), Sulzer Ltd. (Switzerland), and Grundfos (Denmark).
Get Free Sample Copy of “Submersible Pumps Market Research Report – Forecast to 2023” at: https://www.marketresearchfuture.com/sample_request/1351
Submersible Pumps Market – Overview
The increase in mining activities around the world is likely to be a key driver for the global submersible pumps market over the forecast period. The top 40 mining companies declared a cumulative revenue figure of close to USD 600 billion in 2017, demonstrating the scope for growth in the mining sector. The dependence of various high-tech industries such as consumer electronics on rare earth metals is likely to be a major driver for the mining industry in the coming years, as metals such as lanthanum, neodymium, and cerium have taken on a hugely important role in the electronics industry. The steady demand for coal, which remains one of the prime energy resources around the world, is also likely to drive the mining sector in the coming years.
The growing demand for offshore exploration and subsea production activities in the oil and gas sector is likely to be a major driver for the global submersible pumps market over the forecast period. The falling levels of onshore oil and gas reservoirs have led to an increased interest in offshore exploration and production.
Segmental Analysis
The global submersible pumps market is segmented by well type, operation, power rating, end-use industry, and region.
By well type, the market is segmented into open well and bore well.
By operation, the market is segmented into single-stage and multi-stage.
By power rating, the submersible pumps market is segmented into low power, medium power, and high power.
By end use, the market is segmented into water and wastewater, agriculture and irrigation, construction, mining, oil and gas, and others.
Regional Analysis
By region, the global submersible pumps market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific is likely to be the leading contributor to the global submersible pumps market over the forecast period due to the growing offshore exploration and production activities in countries such as China. The growing water and wastewater industry in countries such as China and India, who are looking to modernize their water management procedures and manage the demands of their growing populations, is also likely to be major driver for the submersible pumps market in Asia Pacific, which accounted for close to 42% of the global submersible pumps market in 2017.
List of Tables
Table 1 Global Submersible Pump Market, By Industry, 2016-2023 (USD Million)
Table 2 Global Submersible Pump Market, By Well Type, 2016-2023 (USD Million)
Table 3 Global Submersible Pump Market, By Operation, 2016-2023 (USD Million)
Table 4 Global Submersible Pump Market, By Power Rating, 2016-2023 (USD Million)
Table 5 Global Submersible Pump Market, By Region, 2016-2023 (USD Million)
Table 6 North America: Submersible Pump Market, By Country, 2016-2023 (USD Million)
Table 7 North America: Submersible Pump Market, By Well Type, 2016-2023 (USD Million)
Table 8 North America: Submersible Pump Market, By Operation, 2016-2023 (USD Million)
Table 9 North America: Submersible Pump Market, By Power Rating, 2016-2023 (USD Million)
Table 10 North America: Submersible Pump Market, By Industry, 2016-2023 (USD Million)
Continue…
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