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Global Submersible Pumps Market is Estimated to Witness High Growth Owing to Opportunity in Wastewater Removal Applications

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Mia Yates
Global Submersible Pumps Market is Estimated to Witness High Growth Owing to Opportunity in Wastewater Removal Applications

Submersible pumps are extensively used for agricultural irrigation as they help pump water from underground water sources or lakes to the fields. Their ability to operate even when submerged underground or in water bodies has increased their popularity. 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 increased agricultural irrigation practices have been one of the key drivers of growth for submersible pumps market. Many regions across the globe have witnessed rising temperatures and unpredictable rainfall patterns impacting crop yields. This has encouraged farmers to invest more in agricultural irrigation solutions to protect their crops. Submersible pumps have emerged as a preferred option for agricultural irrigation as they can efficiently draw water from underground reservoirs and transfer it through piping systems over long distances. The rising global demand for food due to rapidly growing population has further fueled the adoption of irrigation practices and subsequent sales of submersible pumps in the recent years.

Segment Analysis

The global submersible pumps market is dominated by the non-clog submersible pump segment. Non-clog submersible pumps handle solids and slurries without clogging which makes them suitable for applications like sewage and drainage systems, where solids are commonly present. These pumps can pump liquids with suspended matter like slurry, sediments and even small solid particles without blocking the impeller. This property makes non-clog pumps highly preferable for the mentioned applications.

Key Takeaways

The Global Submersible Pumps Market Size is expected to witness high growth over the forecast period of 2023 to 2030. Favorable government regulations regarding wastewater treatment and rising global clean water requirements are fueling market growth.

Regional analysis: Asia Pacific region dominates the global submersible pumps market currently. Rapid industrialization and infrastructural development activities in countries like India and China are driving the submersible pumps demand in this region. Planned investments in water supply networks and wastewater treatment facilities in major APAC nations will further propel the regional market during the forecast period.

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.

For More Insights, Read: https://www.newswirestats.com/submersible-pumps-market-trends-growth-and-regional-outlook-2023-2030/


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