Submersible Pumps Market Overview:
Submersible Pumps Market is projected to be worth USD 24.80 billion by 2030, registering a CAGR of 7.22% during the forecast period (2022 – 2030), as per the findings of Market Research Future (MRFR). The anti-corrosive and anti-resistant nature of submersible pumps can be used in handling foreign liquids and solids. Its reliable nature and ability to function in harsh environments can drive the market demand over the forecast period.
Our Market Overview and Regional Analysis provide an understanding of the industries, companies and products within the market. Our Trends section provides an analysis of how the market is currently performing and looks set to perform in the future. Our Growth Forecast section gives you an idea about how our Market Analysis works, by giving us further details on how we can build our Market Forecast model for a particular domain within this report. Lastly, in our Metrics section we outline important data points relating to each of these sections as well as our current forecasted price range.
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Segmentation
Regional Analysis
By region, the global submersible pumps market is segmented into North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
APAC is likely to be the leading contributor to the global submersible pumps market over the forecast period due to the growing offshore exploration and production activities. The growing water and wastewater treatment industry in the region and efforts to reduce pollution levels of the water in rivers are likely to drive market demand. The region accounted for 42% market share in 2017.
Competitive Outlook
Flowserve Corporation, The Gorman-Rupp Company, Sulzer Ltd., EBARA CORPORATION, The Weir Group PLC, Grundfos, Tsurumi Manufacturing Co. Ltd., Xylem, KSB Group, and Atlas Copco AB are key players of the global submersible pumps market.
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