Agriculture

Submersible pumps market estimated to be at US$ 14.47 Bn by 2026

Agriculture segment is estimated to hold 18.2 percent share in terms of revenue by the end of 2016 and the overall contribution of this segment to the global submersible pumps market is expected to increase at a CAGR of 6.6 percent by 2026, a study conducted by Future Market Insights says

Submersible pumps market estimated to be at US$ 14.47 Bn by 2026

Global sales of submersible pumps is estimated to be valued at US$ 7,854.3 Mn by the end of 2016 and is expected to register a compound annual growth rate (CAGR) of 6.3 percent in terms of sales revenue during the period, 2016–2026. The market estimated to be valued at US$ 14.47 Bn by 2026. In a report titled “Submersible Pump Market: Global Industry Analysis and Opportunity Assessment, 2016–2026”, Future Market Insights has presented a detailed analysis of the global submersible pumps market performance and also provided useful insights into the key factors and trends impacting the market.

Future Market Insights analysts feel that the global demand for submersible pumps is likely to be on an upward swing due to increasing infrastructural development activities worldwide. “Governments of developing countries such as China and India are focusing on urbanisation, industrialisation, and agricultural development, which is expected to drive demand for submersible pumps in the region. Demand for submersible pumps is expected to remain significant from agriculture and wastewater treatment industries throughout the forecast period,” the report says.

However, the presence of a large number of Chinese market players with low-priced product offerings is likely to pose major challenges for leading market players operating in the submersible pumps space. The submersible pumps industry is relatively fragmented with the presence of a large number of manufacturers across the globe. Organised market players are going the mergers and acquisitions route in order to expand their global footprint and expand customer base.

Industry segmentation
The Agriculture segment is estimated to hold 18.2 percent share in terms of revenue by the end of 2016 and the overall contribution of this segment to the global submersible pumps market is expected to increase at a CAGR of 6.6 percent over the forecast period, the reports says.

The Borewell segment is estimated to be valued at US$ 106.1 Mn by the end of 2016 and this is likely to increase to US$ 192.3 Mn by the end of 2026, expanding at a CAGR of 6.2 percent. This segment is expected to continue its dominance over the forecast period with 61.8 percent share by the end of 2026.

The Openwell and Non-clog segments are expected to continue to exhibit moderate growth over the forecast period, the Future Market Insights analysis says.

The Industrial water and Wastewater segment is estimated to dominate the global submersible pumps market with a revenue share of 16.4 percent and is likely to maintain its dominance during the forecast period.

The global submersible pumps market has been segmented on the basis of product type (Non-clog submersible pump, Openwell submersible pump, Borewell submersible pump), pump head type (Below 50 m, 50 m – 100 m, Above 100 m), and application (Agriculture, Oil & Gas, Construction, Fire Fighting, Mining, Industrial, Non industrial, Others).

The pump head having more than 100 metre segment is estimated to account for the largest market value share of 73.3 percent in the global submersible pumps market by the end of 2016 and this segment is expected to maintain its dominance by the end of the forecast period.

Regional forecast
The global submersible pumps market has been segmented into seven key regions – North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Middle East & Africa (MEA), and Japan. Sales revenue of the submersible pumps market in the APEJ region is estimated to be 36.1 percent by 2016 end and this market is expected to dominate the global submersible pumps market. Western Europe followed by North America are the other attractive markets for submersible pumps, estimated to account for a revenue share of 19.8 percent and 18.1 percent respectively by the end of 2016, the report says.

KSB AG, Flowserve Corporation, Sulzer AG, Ebara Corporation, Grundfos, WILO SE, Kirloskar Brothers Limited (India), Xylem Inc., Ruhrpumpen Group, and The Weir Group Plc. are some of the companies dominating the global submersible pumps market.

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