Submersible pump market is anticipated to grow at a CAGR of 6.5% during the forecast period. The presence of submersible pump market players such as Atlas Copco UK Holdings, C.R.I. Pumps Pvt Ltd., Flowserve Corp., and others across the globe is the major factor driving the growth of the market. Key players are inclined to launch new products to stay competitive in the market. For instance, in September 2019, Atlas Copco UK Holdings launched three electric submersible pumps named WEDA S30, WEDA S60, and WEDA D80. The pumps are specifically designed for drainage and sludge pumping applications. The WEDA S30 and S60 are sludge/trash pumps and WEDA D80 is a drainage pump. The WEDA S30 and S60 sludge pumps can handle thick, soft, wet mud in addition to other similarly viscous mixtures of liquids and solids, especially the product of an industrial or refining process. The WEDA S30 features a rated power of 3 horsepower (hp) with a weight of 55 pounds, whereas The WEDA S60 has a rated power of 9.2 hp with a weight of 143 pounds. Additionally, the WEDA D80 drainage pump is designed to handle clean or dirty water on construction sites, in manholes, and industrial pits with a very low risk of clogging. The pump can also handle pH values between 5 to 8 and can pass through small solids up to nearly a half inch. It features a rated power of 31 hp and a weight of 400 pounds.

Segmental Outlook 

The global submersible pump market is segmented based on the type, application, and sector. Based on the type, the market is sub-segmented into electrical, hydraulic, and air-driven. Based on the application, the market is divided into an open pit and a borewell. Based on the sector, the market is further sub-segmented into industrial, agricultural, and domestic. Among these, the open pit sub-segment is expected to hold a considerable share in the market due to the rise in the water supply and treatment sector and mining and construction industries, which increases the demand for open pit submersible pumps during the forecast period. 

Among types, the electrical sub-segment is expected to hold a prominent share in the submersible pump market over the forecast period. The growth in industrial, agricultural, and domestic sectors increases the demand for electrical submersible pumps as they can handle both solids and liquids. Key players are focusing to launch new electrical submersible pumps in the market to cater to the demand from various sectors. For instance, in January 2021, Atlas Copco launched an electric WEDA+ dewatering pump range, an addition to the medium and large submersible dewatering pumps family. The WEDA+ range comprises models including the WEDA 50, and WEDA 60+. The WEDA 50 is of normal and high head variant whereas WEDA 60+ is available in the normal head, high head, and super high head configuration. WEDA 60+ is 15% smaller and 20% lighter than other pumps in its class and offers flow rate capabilities of 1020 to 2425 l/min. Additionally, the company introduced rotation control and phase failure protection across all WEDA+ models to prevent the risk of the impeller rotating in the wrong direction; which stops the pump in the event of phase failure.

Regional Outlooks

The global submersible pump market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. North America is expected to hold a considerable share in the submersible pump market during the forecast period, owing to the increasing exploration of shale reserves and oil and gas projects in the region. 

Global Submersible Pump Market Growth, by Region 2022-2028

Asia-Pacific is Expected to Hold a Significant Share in the Global Submersible Pump Market

Among all regions, Asia-Pacific is expected to hold a significant market share during the forecast period. The region is attracting investors to set up production facilities and offices due to the availability of raw materials and labor at low prices. Key players in the submersible pump market are expanding their presence in the Asia-Pacific region to strengthen their footprints in the Asian markets. For instance, in April 2020, PLEUGER INDUSTRIES expanded its presence in Singapore with a new office in the Singapore Water Exchange, within PUB’s WaterHub premises, adding to the service and sales offices in Hamburg, Orléans, Moscow, and Miami.

Market Players Outlook

The major companies serving the global submersible pump market include Atlas Copco UK Holdings, C.R.I. Pumps Pvt Ltd., Flowserve Corp., Grundfos Pumps India Pvt Ltd., KSB SE & Co. KGaA, Pleuger Industries, SAER Elettropompe S.p.A., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in July 2019, Xylem Inc. launched Flygt N3069 stainless steel submersible pump to be used in tough industrial applications such as industrial food and aquaculture. The pump works on advanced techniques to respond to industrial customers’ diverse pumping needs with customized solutions. Additionally, the pump is specifically manufactured for industrial processes containing high chloride or extreme pH levels, offering high levels of corrosion resistance and pumping performance.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global submersible pump market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.