Submersible Pumps Market – Overview
The expansion of the mining sector has laid a favorable base for the development of the market
for submersible pumps. Reports that investigate the energy and power industry have been
presented by Market Research Future, which produces reports on industry verticals that
appraise the market expansion and prospects. A value of USD 14,127.2 million is anticipated
to boost the market at a CAGR of 5.57 % in the forecast period.
The demand for rare minerals in the consumer sector is expected to enhance the submersible
pump market further. Moreover, the constant demand for coal around the world is anticipated
to push the market expansion of the submersible pumps market in the approaching period.
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Segmental Analysis
The assessment of the submersible pumps market is conducted on the basis of end-use industry,
operation, well type, power rating, and region.
Based on the well type, the market for submersible pumps is segmented into bore well and
open well.
On the basis of operation, the market for submersible pumps is segmented into multi-stage and
single stage.
Based on power rating, the submersible pumps market is segmented into low power, medium
power, and high power.
By end-use industry, the segmentation of the submersible pumps market comprises of water
and wastewater, agriculture and irrigation, mining, construction, oil and gas, and others.
Based on the region, the market for submersible pumps is segmented into Europe, North
America, Asia Pacific, and other global regions.
Regional Analysis
The regional review of the submersible pumps market is segmented into regions such as
Europe, North America, Asia Pacific, and other global regions.
The Asia Pacific region is likely to be the uppermost supplier for the submersible pumps market
through the forecast period due to the increasing offshore search and production operations in
countries such as China. The mounting water and wastewater industry in countries such as
China and India, who are streamlining their water management procedures while managing the
demands of their swelling populations, is also anticipated to be a topmost driver for the
submersible pumps market in the Asia Pacific region. The Asia Pacific region was accountable
for approximately 42 % of the overall share in the submersible pumps market in 2017.
Competitive Analysis