Global Submersible Pumps Market Size & Growth Trends Analysis Report

There are several critical factors driving the submersible pumps market globally, which provide both opportunities and challenges for the stakeholders. The increasing need for efficient water and wastewater systems around the globe is one of the key factors in the rising sales of submersible pumps. The demand is increasing due to urbanization and technological advancements, which require reliable pumping solutions for various applications. Moreover, growing agricultural activity especially in developing countries, drives the need for submersible pumps for irrigation. Construction industry and expanding infrastructure are also two of the important drivers for the market globally as submersible pumps play an important role in these projects as they are required to remove water during construction work.

The submersible pumps are used in a variety of other industries as well, including manufacturing, chemical processing, and energy generation. The overall global industrial activity is increasing, especially in emerging economies, driving demand for reliable and efficient pump solutions and driving market expansion. One of the opportunities in the market is the use of renewable energy, such as solar electricity, for submersible pumps, especially in isolated and off-grid areas.

Rapid industrialization and urbanization of emerging economies in Asia-Pacific, Africa, and Latin America lead to tremendous growth and the need for reliable water supply. Given the need to upgrade to more efficient pump systems due to older infrastructure, the replacement market in developed countries also offers multiple opportunities. In addition, the implementation of smart pump solutions and remote monitoring capabilities is expected to improve predictive maintenance schedules and operational efficiencies. The upgradation of aging and construction of new water treatment facilities also provide opportunities for growth in sales of submersible pumps in the upcoming years.

Nonetheless, the market also faces several challenges. High initial investments for submersible pumps and related infrastructure can be a deterrent, especially in poor nations with constrained funding. Stricter environmental laws governing groundwater extraction and wastewater disposal are having an impact on market dynamics. The constraints may also come from operational issues, such as complicated maintenance requirements and the shortage of trained workers. Furthermore, market participants face difficulties due to the competitive environment, which is marked by fierce rivalry and pricing demands.

Impact of COVID-19

The COVID-19 outbreak significantly impacted the global submersible pump market in several ways. Initially, global supply chains and manufacturing were disrupted due to tight policy announcements and restrictions. Due to production schedule delays and scarcity of essential components, the availability and distribution of submersible pumps were affected worldwide. These delays made it difficult for companies to meet demand and complete orders quickly. Additionally, the pandemic altered the need for submersible pumps due to changes in project schedule caused by reduced construction during the shutdown and uncertain economic conditions. The demand was further reduced by delays or temporary shutdowns in industries such as mining and construction that relied primarily on submersible pumping. The shift to remote work created resource constraints for sales and support teams, as restrictions on on-site visits and installations have affected business operations.

The market enjoyed some respite due to actions by governments, including stimulus programs and infrastructure projects meant to spur economic recovery. Through their contribution to the infrastructure and construction sectors, these programs helped mitigate the impact of the downturn and required increased submersible pumping in these sectors. In response, industry players enhanced digital capabilities for remote monitoring and control and diversified their supply chains to enhance their resilience to future disruptions.

Segmentation

The global submersible pumps market is segmented into type, application, power rating, and end-users. The type segment is further segmented into openwell submersible pumps, borewell submersible pumps, and non-clog submersible pumps. Texmo Industries, Crompton Greaves Consumer Electricals Ltd., Kirloskar Brothers Limited, and other well-known manufacturers of openwell submersible pumps. segment. Notable companies that provide a large selection of borewell submersible pumps are KSB Group, Grundfos, and Franklin Electric Co. Inc. Similarly, Xylem Inc., Tsurumi Pump, and Ebara Corporation are experts in non-clog pumps made for sewage and wastewater applications.

The application segment is further divided into water and wastewater management, industrial, agricultural, and residential. By power rating, the market is segmented into, low power, medium power, and high power. Submersible pumps are made in a variety of power ratings by companies like Franklin Electric Co., Inc., Grundfos, and Crompton Greaves Consumer Electricals Ltd. to meet the demands of various commercial, industrial, and domestic applications. The end-user segment is further segmented into agriculture, oil & gas, construction, mining, and others.

Regional Analysis

With the biggest market share for submersible pumps, Asia Pacific is the market leader for the year 2023. The need for submersible pumps is being driven by the fast urbanisation and industrialization of Asia-Pacific, which is affecting industries including municipal water management, agriculture, and construction. Infrastructure development initiatives and the demand for effective water supply systems are driving market expansion. India's Kirloskar Brothers Limited is a well-known producer of submersible pumps for home, commercial, and agricultural water supply applications. Japan's Tsurumi Pump is well-known for its durable submersible pumps, which are utilised in wastewater, mining, and construction. A variety of submersible pumps are available from Crompton Greaves Consumer Electricals Ltd. (India) for use in industrial, agricultural, and residential settings.

The market for submersible pumps in North America is distinguished by a high degree of technological innovation and strict environmental and water management regulations. Applications in commercial buildings, industrial operations, municipal water systems, and household water supply are what propel the market. The USA-based Franklin Electric Co., Inc. is an expert in manufacturing dependable submersible pumps for use in municipal, industrial, residential, and agricultural settings. Xylem Inc. (Flygt brand) provides high-tech, long-lasting pumps for managing water and wastewater. With an emphasis on innovation and sustainability, Grundfos (USA & Canada) specialises in energy-efficient pumps with smart technology for use in commercial, industrial, and residential settings.

Europe places a strong emphasis on energy efficiency and sustainability in pump technology, which is increasing demand for sophisticated submersible pumps in the commercial, industrial, and residential domains. Tight environmental laws and an emphasis on cutting energy use have an impact on the market. Grundfos, a multinational leader in pump solutions with its headquarters located in Denmark, is renowned for incorporating cutting-edge technologies into its submersible pumps. Their products are made to function at their best and save energy in a variety of applications, including industrial operations, wastewater treatment, and water supply. German-based Wilo SE produces a large selection of dependable and effective submersible pumps for the industrial, water management, and building services industries. The German company KSB Group specializes in high-performance submersible pumps that are ideal for industrial, wastewater treatment, and water supply. These pumps are renowned for their durability and extended lifespan. These businesses are global leaders in supplying customized pumping solutions that satisfy a wide range of industry demands.

Submersible pumps are widely used in the Middle East and Africa for oil and gas, irrigation, and water supply. The region's industrial expansion, urbanization, and infrastructural investments are the main drivers of market growth. With its headquarters located in Denmark, Grundfos is a leading supplier of energy-efficient submersible pumps customized for industrial applications, wastewater treatment, and water delivery throughout the Middle East and Africa. Their products are made to satisfy local regulations, with a focus on cutting-edge technology and sustainability to maximize pumping performance in a variety of applications.

Competitive Analysis

In the submersible pump industry, competitive analysis involves evaluating major companies on various criteria, including geographic presence, product offerings, market share, and technological innovation. The key players in the global submersible pumps market are Atlas Copco, Flowserve Corporation, Grundfos Holding A/S, ITT Gould’s Pumps Inc., Kirloskar Brothers Limited, KSB Aktiengesellschaft, Schlumberger, Sulzer AG, Weir Group Plc., Wilo SE, and Xylem Inc. among others.

The Atlas Copco Group made several important acquisitions in 2024 in a range of industry sectors. They bought Mont-Tech Ltd. in Industrial Technique, a move that could improve their skills. Furthermore, Swed-Weld AB was also purchased in the same year.

In 2023, in a strategic effort to expand its water treatment range, Grundfos announced that it had acquired Culligan's Commercial & Industrial business in Italy, France, and the UK. With its headquarters located in Bologna, Italy, this acquisition will support Grundfos' objective of using creative solutions to address global water concerns. Velan Inc. was also acquired by Flowserve Corporation in 2023. Similarly, prominent in the water technology industry, Xylem Water Solutions has made several noteworthy acquisitions to increase its capabilities and market share. Among the notable purchases is Evoqua, a 2013 American startup that was purchased in January 2023. In October 2022, Schlumberger, a prominent player in the oilfield services industry worldwide, acquired Gyrodata.

For the Table of Contents (TOC) of the entire report, Contact Us. We will provide you with the full TOC for the same.

The global submersible pumps market is segmented as follows:

By Type (Revenue: USD Billion, 2019 – 2031)
●    Openwell Submersible Pumps
●    Borewell Submersible Pumps
●    Non-Clog Submersible Pumps

By Application (Revenue: USD Billion, 2019 – 2031)
●    Water & Wastewater Management
●    Industrial
●    Agriculture
●    Residential

By Power Rating (Revenue: USD Billion, 2019 – 2031)
●    Low Power
●    Medium Power
●    High Power

By End-User (Revenue: USD Billion, 2019 – 2031)
●    Agricuture
●    Oil & Gas
●    Construction
●    Mining
●    Others

By Region (Revenue: USD Billion, 2019 – 2031)

● North America
o U.S.
o Canada
o Mexico

● Europe
o U.K.
o France
o Germany
o Italy
o Spain
o Rest of Europe

● Asia Pacific
o China
o Japan
o India
o South Korea
o South East Asia
o Rest of Asia Pacific

● Latin America
o Brazil
o Argentina
o Rest of Latin America

● Middle East & Africa
o GCC Countries
o South Africa
o Rest of Middle East & Africa