The global submersible pump market to grow at a CAGR of 6.7% over the period 2015 to 2019
Global Submersible Pump Market 2015-2019 has been prepared by Research and Markets based on an in-depth market analysis with inputs from industry experts. The report covers the landscape of the market and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Pumps are mechanical devices that are used to transfer liquid from one place to another. These devices aid in propelling the coolant within a system to increase operational performance. Different types of pumps use different energy sources such as electricity, wind power, and engines. Pumps are used in the agriculture, water and wastewater, power generation, mining, chemical processing, hydrocarbon processing, food and beverages, oil and gas, pulp and paper, and aerospace industries. Based on the operational modes, pumps are classified into centrifugal pumps and positive displacement pumps.
The boost in the sale of submersible pump worldwide is because of the growth in the wastewater management industry. The wastewater management industry is growing at a fast rate in APAC. According to the world water development report, only 20% of the wastewater produced receives proper treatment, which is as low as 8% in low-income countries. With the growing environmental concerns, the government and municipal corporations of many of these countries are focusing on developing infrastructure for waste water management and safe drinking water.
According to the report, growth in infrastructure development accompanied by rapid urbanization is driving the global submersible pump market. Many developing countries, such as Brazil, China and India, are taking initiatives to improve their infrastructure and meet end-user demands.
An improved infrastructure will encourage international process-manufacturing organizations to set up their plants in these countries, thereby increasing the demand for submersible pumps. In addition, rapid urbanization has led to a rise in demand from the water and other utility industries, which has further increased the need for the traditional pumps system and submersible pumps.
Further, the report states that the demand for consistent maintenance and support at a low cost adds to the overall cost of ownership for vendors, thus affecting market growth.