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Advancement of Submersible Pump Market to increase demand for Energy
The growth of the submersible pump market is dependent on the demand for energy and water across the globe. The advancements in the submersible pump market are catching attention due to the increase in the demand for energy and various forms of water and sewage requirements by industries and mankind.
Halliburton (U.S.), Baker Hughes (U.S.), Sulzer (Switzerland), Schlumberger (U.S.), Weatherford International Inc. (Switzerland) are the most active companies of the submersible pumps market. These companies have their manufacturing units majorly setup in the Asia-Pacific region where requirement and consumption of energy and water is more as compared to other regions. These market players are present mostly in the U.S. and Europe, and are continuously participating in competitive developments. The other formidable players of the market include General Electric (GE) (U.S.), Weir Group PLC (U.K.), Flotek (U.S.), Grundfos Group (Denmark), and Novomet (Russia).
Due to high investments in energy and power, water and sewage, construction, and chemical industries, the focus of most of the submersible pump companies is on contract agreements, new product launches, expansions, mergers and acquisitions among others. These companies are located in the U.S. and are focusing on the Asia-Pacific, North American, and European markets for further developments.
Submersible Pump Market by Industry (Chemical, Construction, Energy and Power, Water and Sewage, and Others), by Application (Industrial, Agriculture, and Domestic), and by Geography - Global Trends and Forecasts (2014 - 2019)
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