Research Nester released a report titled “Hydraulic Submersible Pumps Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global hydraulic submersible pumps market in terms of market segmentation by product, impeller, application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
Hydraulic submersible pumps are a kind of turbine-driven pump which is used for pumping fluids, offshore and onshore, for downhole and subsea boosting. Owing to the rapid advancements in construction industry and infrastructural activities as well as the rising need for waste water treatment processes, the hydraulic submersible pumps market is anticipated to record a robust CAGR over the forecast period, i.e., 2021-2029. The market is segmented by application into industrial, commercial, municipal, dewatering, and agricultural, out of which, the segment for industrial is anticipated to hold the leading share in the market. The growth of the segment can be attributed to the immense use of hydraulic submersible pumps in several industrial applications comprising sewage, wastewater, and other effluent treatment processes and providing continuous supply of water for various uses coupled with the drainage of water in construction activities.
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Based on the regional analysis, the global hydraulic submersible pumps market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific is predicted to hold the leading share on account of the rapid development in pump innovation and technology for utilization in agricultural, industrial, and residential applications, as well as for the presence of leading market players.
Increasing Demand for Hydraulic Submersible Pump from Water Treatment Projects and Construction Industry to Boost the Market Growth
The United Nations in one of its fact sheets stated that 80% of wastewater flows back into the ecosystem without being treated or reused. Thus, with the growing demand for water worldwide, wastewater treatment is an important process to support sustainable development.
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Increasing urbanization, backed by rising number of construction activities and the surge in industrial infrastructure, are some of the factors that are contributing to the growing demand for clean water. This is also raising the need for sewage and waste water treatment, which is why the municipalities are focusing on increasing the capacities of their water treatment plants. As hydraulic submersible pumps offer maximum efficiency when compared to constant-speed, generator-driven electric submersibles, these pumps are widely adopted by the municipalities, which is anticipated to drive the growth of the global hydraulic submersible pumps market over the forecast period. However, concerns regarding high maintenance costs along with the large replacement cost involved in case of motor failure of hydraulic submersible pumps are some of the factors estimated to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the global hydraulic submersible pumps market which includes company profiling of EBARA International Corporation (TYO: 6361), Xylem (NYSE: XYL), SPP Pumps Ltd., Gorman-Rupp Pumps (NYSE: GRC), Hydra-Tech Pumps, Stanley Black & Decker, Inc. (NYSE: SWK), Franklin Electric Co. Inc. (NASDAQ: FELE), Cornell Pump Company, Hycon A/S and Grundfos Holding A/S. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global hydraulic submersible pumps market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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