Submersible Pumps Market Report 2024

This Submersible Pumps market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The submersible pumps market size has grown strongly in recent years. It will grow from $12.8 billion in 2023 to $13.68 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth during the historic period can be attributed to several factors, including a rising demand for wastewater treatment, increased usage in home construction, a greater emphasis on sustainable and energy-efficient technologies, expansion in industrial activities, and a surge in the construction industry.

The submersible pumps market size is expected to see strong growth in the next few years. It will grow to $17.9 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth during the forecast period can be attributed to several factors, including the rise in agricultural and industrial activities, increasing demand for electricity, greater irrigation efforts, heightened urbanization, and the implementation of measures to treat and reuse discharged wastewater. Key trends expected in this period include advancements in energy-efficient models, innovations in smart pump technologies, the integration of IoT for real-time monitoring, new solutions for wastewater management, the development of improved corrosion-resistant materials, and the adoption of solar-powered submersible pumps.

The anticipated growth in agricultural activities is expected to drive the expansion of the submersible pumps market in the future. Agriculture encompasses the cultivation of crops and the raising of animals for food, fiber, and other essential products. This sector includes farming, livestock, forestry, and fishing, all of which play a vital role in the global economy. The rise in agricultural activities is primarily due to increasing global food demand, advancements in technology, and the expansion of arable land. Submersible pumps are utilized in agriculture to efficiently draw water from wells, rivers, or reservoirs for irrigation and crop management. For example, in February 2024, data from the Department for Environment, Food, and Rural Affairs, a UK-based government agency, indicated that the agricultural sector experienced a 3.4% increase from 2021 to 2022. Thus, the growing agricultural activities are driving the demand for submersible pumps.

Leading companies in the submersible pumps market are concentrating on technological advancements, such as higher-efficiency pumps, to enhance their competitive position. Higher-efficiency submersible pumps are designed to optimize energy usage while providing ideal water flow and pressure. For instance, in February 2022, Shakti Pumps India Limited, an Indian manufacturer of submersible pumps, launched a 4-inch plug-and-play submersible pump. This innovative design allows for quick installation without the need for complicated wiring or setup. Users can simply connect the pump to a power source and begin using it immediately, thus reducing downtime and labor costs.

In January 2022, Industrial Flow Solutions LLC, a US-based pump manufacturer, acquired Dreno Pompe S.p.A. for an undisclosed amount. This acquisition is a strategic move that enhances Industrial Flow Solutions' growth potential by expanding its product portfolio, increasing market presence, and improving operational efficiency. Dreno Pompe S.p.A. is an Italian manufacturer specializing in high-quality electrical submersible pumps for wastewater applications.

Major companies operating in the submersible pumps market are Schlumberger NV, Baker Hughes Company, Atlas Copco, Andritz AG, NOV Inc., Flowserve Corporation, Xylem Inc., Ebara Corporation, Grundfos Holding A/S, Sulzer Ltd., ITT Inc., KSB SE & Co. KGaA, Wacker Neuson, Wilo SE, Franklin Electric Co. Inc., Gorman-Rupp Company, Ruhrpumpen Inc., Zoeller Company, SPP Pumps Ltd., Calpeda S.p.A, DAB Pumps SpA, Tsurumi Manufacturing Co. Ltd., SAER Elettropompe S.p.A, HCP Pump Manufacturer Co. Ltd., Flacks Group.

Asia-Pacific was the largest region in the submersible pumps market in 2023. The regions covered in the submersible pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the submersible pumps market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Submersible pumps are devices specifically designed to operate while fully submerged in liquids, such as water or other fluids. They function by pushing liquid to the surface through a sealed motor that prevents leakage or damage. These pumps are widely used in applications including drainage, sewage pumping, and well water extraction.

The main types of submersible pumps include non-clog submersible pumps, open well submersible pumps, and bore well submersible pumps. Non-clog submersible pumps are engineered to handle liquids containing solid particles or debris without becoming clogged. Drive types for these pumps include electric, hydraulic, and others, while the head ranges from below 50 meters, 50 to 100 meters, and above 100 meters. These pumps find applications across various industries, such as water and wastewater management, oil and gas, construction, mining, and more.

The submersible pumps market research report is one of a series of new reports that provides submersible pumps market statistics, including submersible pumps industry global market size, regional shares, competitors with a submersible pumps market share, detailed submersible pumps market segments, market trends and opportunities, and any further data you may need to thrive in the submersible pumps industry. This submersible pumps market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The submersible pumps market consists of sales of sewage pumps, drainage pumps, well pumps, clean water pumps, utility pumps, and trash submersible pumps. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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