The latest report on Submersible Pumps Market by Infinium Global Research gives complete coverage of the Submersible Pumps Market by in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of Submersible Pumps such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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Growing Need to Treat Wastewater Generated from the Industrial Sector is a Major Driving Factor of the Submersible Pumps Industry
The rising exploitation activities of shale reserve has resulted in increased production of wastewater. The deficiency of water and government regulation on wastewater treatment is encouraging the industry to treat the produced water. The submersible pump system is the most effective artificial lift method of pumping fluids to the surface.
Submersible pumps find wide usage across multiple industrial applications and processes for trouble-free extraction. Usually, it is used in the oil and gas industry due to its higher efficiency, low maintenance, and low space requirements. Submersible pumps are used to take out products from wells with low bottom hole pressure effectively. The key purpose of the submersible pump is to lift water from narrow tunnels or bore wells.
Growing need to treat wastewater generated from the industrial sector is a major driving factor of the submersible pumps market. The demand for the submersible pump is increasing due to its variety of applications including sewage and drainage. Furthermore, factors such as lower initial investment, increasing industrialization, declining groundwater levels, and growing investment in infrastructure development are other driving factors of the market.
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Growing Need To Treat Wastewater Generated From The Industrial Sector Is A Major Driving Factor Of The Submersible Pumps Industry
Rising demand for water in emerging economies such as India and China owing to increasing construction agriculture activities is boosting the market growth. However, the increasing cases of motor failure & the high cost of troubleshooting involved are restraining the growth of the market. Moreover, the massive influx of investments in the oil & gas projects is expected to provide wide growth opportunities to the market players.
Geographically, Asia-Pacific dominates the global submersible pump market due to the expansion of industries, such as oil and gas, construction, etc. in developing countries China and India. An increase in urbanization has resulted in a substantial increase in produced wastewater in these countries. China is experiencing rapid growth in urbanization rate which is resulting in declining water quality. The Government of India has introduced several projects to stimulate the agricultural sector that is anticipated to increase the demand for submersible pumps in the country.
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