Global Demand for Submersible Pumps

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. Organized market players are going the mergers and acquisitions route in order to expand their global footprint and expand customer base. 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 Borewell segment was estimated to be valued at USD106.1 million by the end of 2016 and this is likely to increase to USD192.3 million 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 pump head having more than 100 m segment was 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. 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 Agriculture segment was 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 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 was estimated to be 36.1 percent by 2016 end. Western Europe followed by North America are the other attractive markets for submersible pumps. They were estimated to account for a revenue share of 19.8 percent and 18.1 percent respectively by the end of 2016.