Submersible Pump Market to See Incredible Growth During 2030

The global submersible pump market was valued at US$ 8.7 billion in 2020 and it is anticipated to add value worth US$ 3.5 billion during the forecast period. The outbreak of COVID-19 will leave a residual impact on the long-term outlook of the market with growth projected at a sluggish CAGR of 3.4% through 2030. Stunted growth is foreseen due to latency in application industries amid stringent lockdowns in many countries.

Trade suspensions across leading countries to prevent the spread of COVID-19 has drastically impacted the market and is causing a sharp dip in overall revenue. Decelerating demand in the oil & gas industry coupled with a slowdown in the construction sector has ushered in huge revenue losses for submersible pump market players. However, in the second half of the forecast period, as the impact of the pandemic fades, the market is anticipated to rebound and pave way for notable opportunities.

The following insights and evaluations are worth knowing for any market participant, helping them in ascertaining the prevailing dynamics and the future trajectories of the Submersible Pump Market. They are a part of the estimations of the opportunities in various segments. The additional new opportunities have turned the Submersible Pump Market into a fragmented landscape with more entry-level players entering the market, thanks to low barriers for investments.

After reading the Submersible Pump Market report, readers get insight into:

• Major drivers and restraining factors, opportunities and challenges, and the competitive landscape
• New, promising avenues in key regions
• New revenue streams for all players in emerging markets
• Focus and changing role of various regulatory agencies in bolstering new opportunities in various regions
• Demand and uptake patterns in key industries of the Submersible Pump Market
• New research and development projects in new technologies in key regional markets
• Changing revenue share and size of key product segments during the forecast period 2021 to 2031
• Technologies and business models with disruptive potential

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Regional analysis includes

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
• EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
• CIS & Russia
• Japan
• Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
• Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)

Submersible Pump Market Manufacturers Instituting New Product Launches and Supply Conservation Strategies in Prevailing Pandemic

The global submersible pump market is highly consolidated in nature. Market players are continuously introducing new products in order to stimulate growth. For instance, in February 2019, Kirloskar Brothers Limited launched KU6, the borewell submersible pump series. Also, in March 2018, the company has launched a new range of open-well submersible pumps such as ‘KOSi’ for farmers & domestic users. Other leading players in the global submersible plant market are but not limited to Kubota Corporation, Wacker Neuson Group, Atlas Copco Group, KSB SE & Co. KGaA, Xylem Inc., Ebara Corporation, Grundfos, Sulzer AG, The Weir Group PLC, Tsurumi Manufacturing Co., Ltd., Ingeroll-Rand PLC, and Sumitomo Heavy Industries, Ltd. etc.

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Some important questions that the Submersible Pump Market report tries to answer exhaustively are:

• Key strategic moves by various players in the Submersible Pump Market in recent years with respect to product launches, deals and tie-ups, and mergers and acquisitions, and divestment of shares
• Which strategies will enable top players in the Submersible Pump Market to expand their geographic footprints
• Which new business models are expected to change the course of growth of key regional markets in near future
• Which technologies will witness most attractive research investments and what will be the key sources of funding for startups and new entrants
• Which products segments have in recent years have seen new, lucrative application areas

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