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Submersible Pumps Market Growth Accelerated by Rising Agriculture and Waste Water Treatment Applications

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Sneha
Submersible Pumps Market Growth Accelerated by Rising Agriculture and Waste Water Treatment Applications

Submersible pumps are extensively used for agricultural irrigation and drainage purposes. They help pump water from underground wells or water bodies with adjustable flow rates. Submersible pumps offer advantages such as direct water suction, less installation space requirements, and minimal risks of drainage clogging. The global submersible pumps market is estimated to be valued at US$ 12308.02 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Key Trends:

The adoption of submersible pumps in the agriculture and wastewater treatment sectors has been rising significantly. The agriculture industry has been increasingly using submersible pumps for irrigation and drainage of farms. This is attributed to the pumps’ ability to draw water directly from underground reservoirs or lakes into irrigation systems effortlessly. Moreover, they help automate irrigation processes and improve crop yields. Submersible pumps are also gaining traction in wastewater treatment plants as they can handle sewage and slurry efficiently without much maintenance. Their corrosion-resistant designs allow continuous fluid transfer throughout treatment cycles. This growing demand from agriculture and wastewater treatment has been a key factor propelling the submersible pumps market growth over the recent years.

Segment Analysis

The global submersible pumps market is dominated by the non-clog submersible pumps segment which holds around 35% market share. Non-clog submersible pumps are ideal for applications involving sewage handling and wastewater transport. They can accommodate solid particles and debris due to their open impeller design which prevents clogging.

Key Takeaways

The Global Submersible Pumps Market Demand is expected to witness high growth over the forecast period of 2023 to 2030.

Regional analysis: Asia Pacific region is expected to be the fastest growing as well as dominant regional market for submersible pumps during the forecast period. Countries such as China, India, Japan and Southeast Asian nations are witnessing significant growth in industries such as chemicals, food processing, water and wastewater treatment which is fueling demand for submersible pumps in the region. Increased spending on modernizing existing water infrastructure as well as expanding access to piped water will further support market growth.

Key players: Key players operating in the submersible pumps market are Koninklijke DSP 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.

Explore more information on this topic, Please visit -

https://www.insightprobing.com/submersible-pumps-market-share-and-demand-analysis/

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