Submersible pumps are used extensively for desalination, water supply, drainage, and flooding applications due to their ability to pump water from deep depths and continuous running ability without being installed above water level. They are used in water and wastewater treatment plants to transfer and circulate water from one stage to another. Stringent regulations regarding waste disposal and increasing focus on reuse of wastewater have propelled the usage of submersible pumps in water and wastewater treatment plants.
The global submersible pumps market is estimated to be valued at US$ 14,178.84 million in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing usage of submersible pumps in water and wastewater treatment plants is one of the key trends driving the market growth. Several countries across the globe are taking initiatives to reuse wastewater owing to acute water scarcity issues. Submersible pumps play a crucial role in transferring and circulating water from one stage to another during the water treatment process. Moreover, stringent regulations regarding wastewater disposal have compelled industries and municipalities to install efficient wastewater treatment systems. This is supporting the adoption of submersible pumps for efficient operation of treatment facilities. Rapid urbanization and growing concerns regarding water quality have also increased investments in modernization and expansion of water treatment infrastructure. This is subsequently propelling the demand for submersible pumps, thus augmenting the market growth over the forecast period.
Segment Analysis
The global Submersible Pumps Market Share is dominated by borewell submersible pumps which account for over 35% share of the market. Borewell submersible pumps are commonly used in agriculture for irrigation purposes due to their affordability and ability to draw water from borewells and distributed networks. Their demand is expected to further grow over the forecast period owing to increasing requirement of irrigation and water supply in agriculture.
Deepwell submersible pumps hold the second largest share in the market. These pumps are capable of handling high discharge against lift and are majorly used for industrial and municipal water applications. Their usage is increasing in applications such as drainage of mine pits, disposal of sewage and industrial wastewater.
Key Takeaways
The global submersible pumps market is estimated to be valued at US$ 14,178.84 million in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024-2031.
Regional analysis
Asia Pacific dominates the global submersible pumps market with a share of over 40% due to large-scale usage of submersible pumps in agricultural activities in major countries like India and China. Rapid population growth and urbanization are augmenting the demand for reliable and sustainable water supply infrastructure in the region.
Europe is the second largest market for submersible pumps driven by strict regulations regarding water usage and management. Major countries including Germany, UK and France are focusing on refurbishing aging water infrastructure which is positively impacting the regional market growth.
Key players
Key players operating in the submersible pumps market are Koninklijke DSM NV, KD Pharma Group, The Archer Daniels Midland Company, Corbion NV, Novasep Holding SAS, Neptune Wellness Solutions, BASF SE, Clover Corporation Ltd, Croda International PLC, Novotech Nutraceuticals, and Polaris.
Koninklijke DSM NV is one of the leading players focusing on new product launches and partnerships to cater to increasing demand for submersible pumps in domestic and industrial sectors. KD Pharma Group has a strong distribution network across major countries in Europe and Asia Pacific.
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