Submersible Pumps Market: Introduction
- Submersible pumps are centrifugal pumps whose hydraulic components such as impeller, pump casing, and diffuser element are flooded by the fluid handled. This type of pump is not fitted with a suction line. A submersible pump whose motor is arranged above the floor is referred to as a vertical shaft submersible pump.
Key Drivers of the Global Submersible Pumps Market
- Increasing population in the world with rising residential construction are the major factors contributing to the growth of the submersible pumps market globally. Rising water concerns influences the installation of water systems, which subsequently contributes to the growth of the market.
- Increasing investment in infrastructural development and rapid industrialization are prime factors boosting the growth of the market. Manufacturers look for cost-effective and reliable fluid lifting options in all production scenarios, which has led to the increasing adoption of submersible pumps. Companies are developing robust products with the capacity to lift large volumes of fluid, and this is anticipated to create lucrative opportunities in the coming years. Pumps have become an integral part of power plants to transport liquid due to growing demand for electricity all across the globe.
Factors Restraining the Global Submersible Pumps Market
- The failure of submersible pump motors and the associated cost of troubleshooting acts as a restraining factor which may affect the growth of the submersible pumps market. Submersible motors are majorly affected by high temperature, including pumping hot water, overloading of the motor by the pump, scale build-up, loss of cooling flow in the motor, and frequent engine on and off. The troubleshooting cost of such failures is fairly high which reduces the pump’s life due to repairs and re-installations.
Market in Asia Pacific to Expand Rapidly
- In terms of region, the global submersible pumps market can be divided into North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the submersible pumps market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the submersible pumps market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America submersible pumps market is segmented into Brazil, and Rest of South America.
- North America accounted for largest share of the global submersible pumps market due to the presence of a large commercial sector and expansion of oil and gas infrastructure. Increasing industrial infrastructures and commercial sector are propelling the demand for potable water, which has led to increasing integration of submersible pumps, subsequently driving the growth of the submersible pumps market in North America.
- The submersible pumps market in Asia Pacific is projected to expand rapidly during the forecast period due to the rising construction industry in the region. Rapid industrialization and urbanization influences the construction industry in Asia Pacific, which has driven the sale of submersible pumps. This is expected to contribute to the growth of the submersible pumps market in the Asia Pacific region.
Key Players Operating in the Global Market
Companies in the submersible pumps market are focusing on developing innovative and quality products which will help in enhancing their competitive advantage and subsequently increase their market share. Companies are strengthening their product portfolio due to the changing preference for advanced products, and the prevailing competition. Developing products with a robust design and the capacity to lift large volumes of fluid are anticipated to create lucrative opportunities in the submersible pumps market. Growing competition gives force to market players to focus on introducing advanced products.
In January 2019, Atlas Copco introduced a broad range of high-quality electric submersible pumps which were designed specifically for sludge, drainage, and slurry pumping applications. The pumps help in preventing product failure, human errors, sudden loss of voltage, and overheating.
A few of the key players operating in the global submersible pumps market are:
- Atlas Copco
- C.R.I. Pumps Private Limited
- Grundfos Holding A/S
- PLEUGER INDUSTRIES
- SAER Elettropompe S.p.A.
- Sulzer Ltd
- VANSAN Water Technologies
- WILO SE
Global Submersible Pumps Market: Research Scope
Global Submersible Pumps Market, by Type
- Non-clog Submersible Pumps
- Open Well Submersible Pumps
- Bore Well Submersible Pumps
Global Submersible Pumps Market, by End-use
- Food & Beverage
- Others (Chemical, etc.)
Global Submersible Pumps Market, by Distribution Channel
- Direct Sales
- Indirect Sales
Global Submersible Pumps Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
The report on the global submersible pumps market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.