The submersible pumps market is expected to grow from an estimated USD 11.2 billion in 2020 to USD 15.5 billion by 2025, at a CAGR of 6.7% during the forecast period. Increasing investments in construction industry attributing to rapid urbanization, and high demand for submersible pumps in agricultural sector are the key factors driving the growth of the submersible pumps market. Likewise, the upgradation of aging and construction of new water & wastewater treatment facilities, and adoption of solar-powered submersible pumps are expected to offer lucrative opportunities for the submersible pumps market during the forecast period.
A few major players that have a wide regional presence and dominate the submersible pumps market. The leading players in the submersible pumps market include Xylem (US), Sulzer (Switzerland), KSB Group (Germany), Grundfos (Denmark), and Atlas Copco (Sweden).
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The major strategies adopted by these players include contracts & agreements, new product launches, investments & expansions, mergers & acquisitions, joint ventures, and partnerships & collaborations. Contracts & agreements, and new product launches were the two most commonly adopted strategy from January 2017 to November 2020.
Xylem (US) is a water technology company that designs and manufactures engineered solutions to meet the world’s water, wastewater, and energy needs. Its product and services are used across various application areas such as transport, treatment, test, smart metering, smart infrastructure analytics, condition assessment and leak detection, building services, and industrial processing. Xylem operates through three business segments, namely, water infrastructure, applied water, and measurement & control solutions. The product portfolio of the applied water business segment includes pumps, valves, heat exchangers, controls, and dispensing equipment systems, which are used in the residential, commercial, and industrial markets. Xylem adopts both direct and indirect channel sales marketing strategies to enhance its business. Primary brands associated with the applied water business segment are Goulds Water Technology, Bell & Gossett, A-C Fire Pumps, Standard Xchange, Lowara, Jabsco, and Flojet. Some of the major competitors within the applied water segment include Grundfos (Denmark), Wilo (Germany), Pentair (US), and Franklin Electric (US). Xylem has an established global presence with production facilities in Europe, North America, Latin America, and Asia.
Sulzer (Switzerland) is a global player that delivers reliable and sustainable solutions. It offers pumping solutions, services for rotating equipment, and separation, mixing, and application technologies. The company provides its products and services to the oil & gas, power, and water industries. Sulzer operates through four business segments, namely, pump equipment, rotating equipment services, Chemtech, and applicator systems. Submersible pumps are offered through the pump equipment segment. The pump equipment segment provides pumps for various applications, such as production, transportation, crude oil & gas processing; supply, treatment, transport of water as well as wastewater collection, and also for fossil-fired, nuclear, and renewable power generation. Sulzer operates worldwide through a wide network with over 180 production and service locations in more than 40 countries worldwide.
Submersible Pumps Market by Type (Electric, Hydraulic, Air-Driven), Application (Open Pit, Borewell), Operation (Single-stage, Multi-stage), Power Rating (<1, 1-5, 5-15, >15 HP), Sector (Industrial, Agricultural, Domestic), Region - Global Forecasts to 2025
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