Submersible Pumps Global Market – Overview:
Submersible pumps are used in pumping fluids while being submerged in oil wells. They utilize a series of impellers that push the fluid progressively towards the top. Submersible pumps present a stark contrast to jet pumps, which pull the fluid out rather than pushing it. As a result, they are more efficient than jet pumps.
The Global Submersible Pumps Market is expected to rise from a 2017 valuation of USD 10,204.7 million to a 2023 valuation of USD 14,127.2 million at a CAGR of 5.57% over the forecast period (2018-2023), as per the findings of Market Research Future (MRFR). The increase in mining activities around the world is likely to be a key driver for the global submersible pumps market over the forecast period. The top 40 mining companies declared a cumulative revenue figure of close to USD 600 billion in 2017, demonstrating the scope for growth in the mining sector. The dependence of various high-tech industries such as consumer electronics on rare earth metals is likely to be a major driver for the mining industry in the coming years, as metals such as lanthanum, neodymium, and cerium have taken on a hugely important role in the electronics industry. The steady demand for coal, which remains one of the prime energy resources around the world, is also likely to drive the mining sector in the coming years.
Submersible Pumps Global Market – Competitive Analysis
The global market for submersible pumps is expected to grow substantially during the forecast period. All the key players in the market are working extensively to expand their services globally. The companies are investing widely in the research and development of new products for the market. The key players are seeking opportunities to acquire companies to obtain a larger market share.
Key Players
The key players in the Global Submersible Pump Market include Atlas Copco AB (Sweden), Ebara Corporation (Japan), Flowserve Corporation (USA), General Electric Company (USA), Gorman-Rupp Company (USA), Grundfos Group (Denmark), KSB Group (Germany), Kirloskar Brothers Limited (India), Sulzer AG (Switzerland), Tsurumi Manufacturing Co. Ltd (Japan), Walrus Pump Co. Ltd. (Taiwan), WILO SE (Germany), The Weir Group Plc (Scotland), and Xylem, Inc. (USA).
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Analysis Period:
- Base Year – 2017
- Projection Period – From 2018 to 2023
- Market Valuation – USD Million
Intended Audience:
- Power and energy associations
- State and national regulatory authorities and policy makers
- Submersible Pump manufacturers, dealers, and suppliers
- Government and research organizations
- Industrial Distribution utilities
- Companies in energy & power sector
Segmentation Analysis:
The Global Submersible Pumps Market is segmented by Well Type, Operation, Power Rating, End-Use Industry, and Region.
By Well Type : Open Well and Bore Well.
By Operation : single-stage and multi-stage.
By Power Rating : Low Power, Medium Power, and High Power.
By End Use : Water and Wastewater, Agriculture and Irrigation, Construction, Mining, Oil and Gas, and Others.
By Region : North America, Europe, Asia Pacific, and the rest of the world.
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Latest Industry News
OCT 2018- According to a new scheme launched by the government of Odisha, India, farmers will be getting Rs. 22, 257 to buy and install a submersible pump for the crop irrigation.
OCT 2018- HAZLETON PUMPS has introduced the SA HIPPO submersible slurry pump on-site mechanical seal replacement system.
OCT 2018- Timken Steel is set to use SA HIPPO submersible slurry pump in their operations, marking the debut of SA HIPPO in American steel manufacturing market.
OCT 2018- SFC Energy subsidiary Simark Controls Ltd has delivered a Canadian $ 0.5 million follow-up order for its fully integrated variable frequency drive systems (VFDs) to an Alberta, oil producer. The VFD systems operate electric submersible pumps (ESPs) that are useful for artificially lifting the heavy oil from well-pads.
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