Submersible Pumps Market

Increasing Agriculture activities to boost the market growth

Investments in the construction industry play a vital role in the growth of and regional economies. Spending on capital projects and infrastructure is expected to grow significantly in the next decade. China, India, Indonesia, and other countries of Asia Pacific are highly investing in infrastructure development. In addition, increasing urbanization in emerging markets is expected to boost investments in major sectors, such as water & wastewater treatment and power, which is consequently expected to drive the growth of the submersible pumps market.

Further, the demand for submersible pumps has increased significantly in the recent past. This is typically due to growing infrastructure development activities. Rising urbanization in emerging economies in India and China has led to an increase in demand for submersible pumps across the globe. According to the United Nations (UN), by 2030, around 40.76% population of India is expected to live in urban areas. Water scarcity is a major issue plaguing various regions across the globe. Governments of various countries are implementing regulations mandating water recycling and reuse, especially in industries.

Thus, these factors are expected to drive the growth of the  submersible pumps market during the forecast period.

Additionally, increasing investment in infrastructural development and rapid industrialization are prime factors boosting the market growth. Manufacturers look for cost-effective and reliable fluid lifting options in all production scenarios, which has led to the increasing adoption of submersible pumps. Companies are developing robust products that can lift large volumes of fluid, which is anticipated to create lucrative opportunities in the coming years. Submersible pumps have become an integral part of power plants to transport liquid due to the growing demand for electricity all across the globe.

Thus, these factors are expected to enhance the submersible pumps market CAGR across the globe in recent years.

However, the increasing population in the world with rising residential construction are the major factors contributing to the growth of the submersible pumps market ly. Rising water concerns influence the installation of water systems, which subsequently contributes to the submersible pumps market revenue growth.

The Global Global Submersible Pumps Market Industry is projected to experience substantial growth, with estimates indicating a market value of 15.9 USD Billion in 2024 and a remarkable increase to 35.1 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate of 7.5% from 2025 to 2035, reflecting the rising demand across various sectors. The expansion is attributed to factors such as urbanization, agricultural advancements, and industrial applications, which collectively drive the need for efficient water management solutions. As these trends continue to evolve, the market is likely to witness significant developments.

The agricultural sector's growth plays a pivotal role in driving the Global Global Submersible Pumps Market Industry. As global food demand escalates, farmers are increasingly adopting advanced irrigation techniques, necessitating efficient water management solutions. Submersible pumps are integral to modern irrigation systems, enabling optimal water distribution. For example, regions experiencing drought conditions are leveraging these pumps to ensure crop sustainability. The market is expected to witness a compound annual growth rate of 7.5% from 2025 to 2035, reflecting the agricultural sector's reliance on submersible pumps to enhance productivity and resource efficiency.

Technological advancements significantly influence the Global Global Submersible Pumps Market Industry, as innovations enhance pump efficiency and reliability. The integration of smart technologies, such as IoT and automation, allows for real-time monitoring and control of pump operations. This not only improves performance but also reduces operational costs for end-users. For instance, manufacturers are developing energy-efficient submersible pumps that comply with stringent environmental regulations. As these technologies become more prevalent, the market is likely to expand, contributing to the projected growth to 35.1 USD Billion by 2035, as industries seek to optimize their water management systems.

The expansion of industrial applications is a key driver for the Global Global Submersible Pumps Market Industry. Industries such as mining, construction, and wastewater management increasingly rely on submersible pumps for efficient fluid handling. These pumps are essential for dewatering processes, ensuring operational continuity in challenging environments. For example, mining operations utilize submersible pumps to manage groundwater levels, thereby enhancing safety and productivity. As industrial activities grow globally, the demand for reliable submersible pumps is expected to rise, further solidifying the market's position in the coming years.

The Global Global Submersible Pumps Market Industry experiences a notable surge in demand driven by the increasing need for efficient water supply systems. Urbanization and population growth are contributing factors, as cities expand and require reliable water sources. For instance, regions with limited access to freshwater are investing in submersible pumps to enhance their water supply infrastructure. This trend is reflected in the projected market value of 15.9 USD Billion in 2024, indicating a robust growth trajectory. As municipalities and industries seek sustainable solutions, the Global Global Submersible Pumps Market Industry is poised for significant expansion.

Environmental regulations and sustainability initiatives are shaping the Global Global Submersible Pumps Market Industry. Governments worldwide are implementing stricter regulations to promote water conservation and reduce energy consumption. Submersible pumps that meet these standards are increasingly favored by industries and municipalities. For instance, energy-efficient pumps not only comply with regulations but also contribute to lower operational costs. As sustainability becomes a priority, the market is likely to see a shift towards eco-friendly solutions, driving growth and innovation in the submersible pump sector.

By Region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America submersible pumps market accounted for USD 6.13 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. This is attributed to the increasing extraction of hydrocarbons from conventional and unconventional reserves coupled with expanding mining and construction activities that complement regional growth.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3:  Submersible Pumps Market Share By Region 2021 (%)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe submersible pumps market accounts for the second-largest market share due to favorable wastewater recovery policies, increasing irrigation activities, and construction of new private & commercial spaces. Further, the Germany submersible pumps market held the largest market share, and the UK Submersible Pumps market was the fastest growing market in the European region.

The Asia-Pacific submersible pumps market is expected to grow at the fastest CAGR from 2022 to 2030. Rapidly rising energy consumption has significantly increased the exploration & production of hydrocarbon reserves. Furthermore, developing nations like China, India, Australia, Japan, and other Southeast Asian countries complement the region to emerge as the dominant geography during the forecast timeframe. Moreover, China submersible pumps market held the largest market share, and the India submersible pumps market was the fastest growing market in the Asia-Pacific region.

Major market players are spending a lot on R&D to increase their product lines, which will help the submersible pumps market grow even more. Market participants are also taking a range of strategic initiatives to grow their footprint ly, with key market developments such as new product launches, mergers and acquisitions, contractual agreements, increased investments, and collaboration with other organizations. Competitors in the submersible pumps industry must offer cost-effective items to expand and survive in an increasingly competitive and enhancing market environment.

One of the primary business strategies manufacturers adopt in the submersible pumps industry to benefit clients and expand the market sector is manufacturing locally to decrease operating prices. The submersible pumps major market player, such as Xylem (US), KSB Group (Germany), Flowserve Corporation (US), and others, are working to enhance the market demand by investing in research and development activities.

Kirloskar Brothers Limited (KBL) is a world-class submersible pumps manufacturing company with expertise in the engineering and manufacture of fluid management systems. Established in 1888 and incorporated in 1920. KBL delivers complete fluid management solutions for large infrastructure projects in water supply, power plants, irrigation, oil & gas and marine & defense. KBL manufactures industrial, agriculture & domestic submersible pumps, valves and hydro turbines. In September 2021, Kirloskar Brothers Limited (KBL) launched a new series of borewell submersible pumps, the NEO Series 4-in, designed for rural, domestic, and community water supply markets, including the farming, buildings, and construction sectors.

Also, Aramco is a Saudi Arabian public petroleum and natural gas company based in Dhahran. As of 2020, it is one of the largest companies in the world by revenue. Saudi Aramco has the world's second-largest proven crude oil reserves, at more than 270 billion barrels (43 billion cubic meters) and the largest daily oil production of all oil-producing companies. It has been the single greatest contributor to carbon emissions of any company in the world since 1965. In March 2022, Aramco invested in developing a unified refinery and petrochemical complex in Liaoning Province, Panjin City, China.

Huajin Aramco Petrochemical Company (HAPCO), a joint venture between Aramco, Panjin Xincheng Industrial Group, and North Huajin Chemical Industries Group Corporation, will develop the refinery. This will enable Aramco to provide up to 210,000 barrels per day of crude oil feedstock, which will be operational in 2024.