HOME Research Insight Submersible Pump Market - New Revenue Pockets

Submersible Pump Market - New Revenue Pockets

Submersible pump system is one of the most effective artificial lift methods of pumping fluids to the surface. They are widely used in the oil and gas industry due to their higher efficiency, low maintenance, and low space requirements. Submersible pump is used to efficiently take out products from wells with low bottom whole pressure.

The growth of the submersible pump market is widely seen in China as well as the U.S. in the regions of Asia-Pacific and North America, respectively, as compared to the remaining geographies of the world. The demand for submersible pump is growing constantly with the increase in demand mainly for energy and water. The submersible pump industry has been increasing in the municipal sector as well as in the industrial sectors of oil and gas, chemicals, power, water, and others (automobile, food, pulp and paper, and textile).

Submersible pump is used globally for diverse applications in various geographies. Asia-Pacific is the biggest market for submersible pump, wherein China is the largest.

The companies investing in submersible pumps are mostly based in the U.S. and Europe. A few top players of the industry include General Electric (GE) (U.S.), Schlumberger (U.S.), Halliburton (U.S.), Weatherford International Inc. (Switzerland), Baker Hughes (U.S.), Sulzer (Switzerland), Weir Group PLC (U.K.), Flotek (U.S.), Grundfos Group (Denmark), and Novomet (Russia).

Related Reports:

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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