Energy and Power Submersible Pumps Market | Page 2

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Medium
High
On the basis of Industry
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Mining & Construction
Water & Wastewater
Energy & Power
Others
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The current and forecasted market size estimations are done considering the latest indus try
trends, usage pattern of various submersible pumps by the end users, and investments being
made in the applicable industries industrial, agricultural and domestic sector around the globe.
The global submersible pumps market is projected to grow at a CAGR of 5.4% from 2015 to 2020,
reaching a value of USD 12.2 Billion in 2020. In 2014, Asia-Pacific region was the largest market
for submersible pumps and accounted for a market share of about 42% in terms of value. This
can be attributed to various factors such as growing urban population, rapid industrialization,
and huge investments for infrastructure development in this region. This region also houses the
leading developing economies such as China, India, and Indonesia that have huge population
and have been exhibiting high economic growth rate.
With investments being made to modernize existing water supply, initiatives taken towards
maintaining a proper sewage system, and growing process industries, agriculture as well as
domestic sector globally, the demand for submersible pumps bound to increas e during the
forecast period. India, Indonesia, China, Saudi Arabia, and South Africa are expected to be the
high growth avenues for the submersible pumps market. Industrial applications such as water &
wastewater treatment, mining, construction and oil production will drive most of the demand for
submersible pumps across the globe. Market for submersible pumps used in domestic and
commercial scale water extraction will also grow at a steady pace, helped by demand from
growing cities with scarce freshwater resources.
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These companies are expanding into new territories to take advantage of opportunities in the
emerging regions such as Asia-Pacific, Middle East & Africa, and South America through joint-
ventures, mergers and acquisitions, and partnerships. This will help them to venture into new