submersible pumps market
Technology

Global Submersible Pumps Market: Growing government initiatives for recycling of waste water is expected to boost growth of the global submersible pumps market over the next five years

Submersible pumps are designed to be placed in water or any other fluids that is to be removed. These pumps are applicable in various end use applications such as pond, borehole, well, pool, and sewage. Submersible pumps are also referred to as electric submersible pumps. Submersible pumps push fluid to ground surface by converting rotary energy into kinetic energy and then into pressure energy. Design of submersible pumps vary in comparison with other traditional pumps, as it contains tightly contained unit, with watertight seals that keep the liquid out of the housing and internal components.

Growing government initiatives for recycling of waste water is expected to boost growth of the global submersible pumps market over the next five years

Growing demand for energy globally, and increasing infrastructural activities in both developed and developing economies are key factors driving growth of the global submersible pumps market. In addition, rising oil & gas exploration and production activities in deep water, and increasing government investments into recycling of waste water are other factors expected to propel growth of the global submersible pumps market over the forecast period.

However, high operational cost is a major factor restraining growth of the global submersible pumps market. Additionally, lack of skilled workforce, and problems associated with use of submersible pumps such as overheating of motor, and corroding internal components are other factors expected to hamper growth of the global submersible pumps market over the forecast period.

The global submersible pumps market is segmented on the basis of type, operation, power rating, end-use, and region. On the basis of region, the global submersible pumps market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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The market in Asia Pacific is expected to account for the largest share in terms of revenue as compared to other regions. This can be attributed to development of oil and energy industry and increasing government initiatives for development of infrastructure in emerging economies in the region. Also, the market in North America is projected to account for the second-largest share in terms of revenue over the forecast period, owing to growing exploration activities and development in wastewater processing industries in countries in the region.

Prominent players in the global submersible pumps market include Xylem, Inc., Sulzer Ltd., Grundfos Holding AG, Ebara Corporation, Flowserve Corporation, WILO SE, SPX Corporation, Kirloskar Brothers Limited, Atlas Copco AB, and The Weir Group PLC.