Submersible Pumps Market to Surpass $16 Billion by 2026
Growing
industrial sector coupled with continuous decline in fresh underground water
levels to drive global submersible pumps market through 2026
According to TechSci Research report, “Global
Submersible Pumps Market By Type,
By Mode of Operation, By Power Rating, By Head, Competition Forecast & Opportunities, 2012 – 2026’’, the global submersible pumps market is forecast to surpass $ 16 billion
by 2026. Submersible pumps push the fluid from submerged position to the
surface, and thus are in huge demand in industrial and agricultural sectors.
Growing industrialization coupled with huge investments for infrastructure and
water treatment developments is expected to increase demand for submersible
pumps across the globe during forecast period. Moreover, increase in number of
food & beverage, pharma, chemical and other manufacturing units across the world
is expected to positively influence global submersible pumps market during
forecast period.
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Submersible Pumps Market"
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On the basis of type, global
submersible pumps market has been broadly segmented into three categories, namely,
open well submersible pumps, borewell submersible pumps and non-clog
submersible pumps. Among these categories, non-clog submersible pumps are the
most widely used type of submersible pumps across the world owing to their compact
size, low noise, easy installation & maintenance and less chance of
cavitation damage. Asia-Pacific controlled the largest share in global
submersible pumps market in 2016 supported by robust growth of the industrial
sector coupled with strong decline in freshwater resources. Increasing
applications of submersible pumps in oil & gas industry and growing
deep-water exploration activities are the prime factors expected to boost the
demand for submersible pumps in Asia-Pacific during 2017 – 2026.
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“Backed by growing population,
increasing demand for food & beverage products and freshwater among
consumers is boosting the demand for submersible pumps for water extraction and
circulation systems across the globe. With increasing investments made to
modernise the existing water supply coupled with growing applications such as
groundwater pumping, subsea operations, etc., global submersible pumps market
is expected to grow at a healthy pace during forecast period.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global
Submersible Pumps Market By Type,
By Mode of Operation, By Power Rating, By Head, Competition Forecast & Opportunities, 2012 – 2026” has evaluated the future growth
potential of global submersible pumps market and provides statistics and information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment evaluation. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities in global
submersible pumps market.
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