Global Submersible Pumps Market Outlook, 2029

The Submersible Pumps Market has evolved significantly over the years, driven by technological advancements, increasing demand across various sectors, and competitive dynamics among key players. Originally developed in the mid-20th century, submersible pumps revolutionized water management by enabling efficient water extraction from wells, reservoirs, and other sources. They are designed to operate submerged underwater, which enhances their performance by reducing energy consumption and minimizing noise pollution compared to traditional surface pumps. Competitors in the submersible pumps market include global giants such as Grundfos, Xylem Inc. (including brands like Flygt and Goulds), KSB Group, Franklin Electric, and Wilo SE, among others. These companies dominate the market with extensive product portfolios, technological innovation, and strategic acquisitions to expand their market reach and capabilities. Regional and local manufacturers also play significant roles, catering to specific market segments and geographical preferences.

According to the research report, “Global Submersible Pumps Market Outlook, 2029” published by Bonafide Research, the market is anticipated to cross USD 20 Billion by 2029. Specialized equipment called submersible pumps is made to work underwater for applications including irrigation, drainage, and water supply. Effective water movement is made possible by the sealed motor and pump unit of these pumps, which are positioned below the water's surface. Submersible pumps are popular because of their durability, energy efficiency, and adaptability to handle a variety of liquids, including corrosive and clean water. They are widely used in wells, boreholes, and other water sources. Submersible pumps work by transforming electrical energy into mechanical energy and using an impeller to force liquids to the surface. A safe and trustworthy functioning is ensured by the sealed construction, which keeps the motor safe from water intrusion. Submersible pumps can be used in residential, commercial, agricultural, and municipal settings. They provide a dependable and flexible solution for a range of water management requirements.

Market Drivers

•Growing urbanization is credited with driving up building industry spending: The expansion of the national, international, and local economies is significantly influenced by investments in the construction sector. Over the next ten years, it is anticipated that spending on infrastructure and capital projects will increase dramatically. Asia Pacific nations such as China, India, and Indonesia are making significant investments in the construction of infrastructure. For example, it is anticipated that by 2025, infrastructure spending in Indonesia will total USD 165 billion. A significant investment in infrastructure is necessary for modernization and commercialization. Furthermore, rising urbanization in developing nations is anticipated to increase expenditures in key industries like power and water & wastewater treatment, which would in turn fuel the market for submersible pumps.
•Growing Demand in Agriculture: The need for effective irrigation systems in agriculture is one of the main factors propelling the submersible pump industry. The need for increased agricultural output grows as the world's population rises, especially in areas where water is scarce. In order to guarantee that crops receive enough water during the growing season, submersible pumps play a critical role in delivering a dependable water supply for irrigation. They are essential to contemporary agricultural operations because of their exceptional effectiveness in extracting water from wells, rivers, and subterranean sources due to their capacity to function underwater. The need for submersible pumps in this industry is further fueled by the push for sustainable agriculture and effective water use.

Market Challenges



•Failure of the motor and expensive troubleshooting: When used within the parameters of their design, which include temperature, hydraulic loading, and power requirements, submersible pump motors exhibit exceptional reliability. These motors work well in typical residential, municipal, and agricultural systems. Regretfully, these motors are frequently employed in applications that inadvertently beyond the motors' design specifications. Failures consequently happen, and the benefits of submersible motors are swiftly lost or forgotten. High temperatures, which include pumping hot water, the pump overloading the motor, the motor losing its ability to cool itself, the accumulation of scale, and frequent engine on and off, are the main causes of damage to submersible motors. Such failures have a significant troubleshooting cost and shorten the pump's lifespan due to repairs and reinstallations. Thus, the market expansion for submersible pumps is constrained by the breakdown of pump motors and the ensuing troubleshooting expenses.

Market Opportunities

•Modernizing Outdated Water and Wastewater Treatment Facilities and Building New Ones: The developed world's water and wastewater treatment plants are getting older and approaching the end of their useful lives. Reinstalling and modernizing the outdated infrastructure will cost a lot of money in order to resolve this issue. However, some emerging economies have just recently begun to modernize their water infrastructure and still lack sufficient access to clean drinking water. The market for submersible pumps is projected to see significant development potential as a result of these measures to update old infrastructure.The operating life of water and wastewater treatment systems is typically between 70 and 80 years, and in many cases, the facilities have reached the end of their useful lives. This aspect necessitates significant financial outlays for maintaining and modernizing the outdated water infrastructure. The supply of fresh water will be aided by the reconstruction or restoration of older water plants; nevertheless, it is anticipated that less new equipment and systems will be installed and upgraded in place of the outdated infrastructure.

Based on the report, the Use segment is segmented into Water & wastewater, Oil & gas, Agriculture & irrigation, Construction & mining, others. Agriculture & irrigation segment is leading in the Submersible Pumps Market due to the high demand for efficient water management solutions in farming and irrigation systems.

The agriculture and irrigation sub-segment leads the Submersible Pumps Market due to the critical role these pumps play in modern farming practices, particularly in regions with variable or limited water availability. Submersible pumps are essential for efficient water extraction from various sources such as wells, rivers, and lakes, enabling consistent and reliable irrigation necessary for crop cultivation. Their ability to operate fully submerged in water reduces the risk of pump damage and enhances efficiency, making them highly suitable for agricultural applications. Additionally, the increasing need for sustainable water management in agriculture, driven by the global emphasis on food security and efficient resource use, further boosts the demand for submersible pumps. Advances in pump technology, offering improved energy efficiency and durability, also make them an attractive option for farmers looking to optimize water usage and reduce operational costs. The growing adoption of precision agriculture techniques, which require reliable and consistent water supply systems, further propels the dominance of the agriculture and irrigation sub-segment in the submersible pumps market.

Based on the report, the Type segment is segmented into Bore well & open well. The bore well segment is estimated to grow at a higher growth rate in the Submersible Pumps Market due to effectiveness in extracting water from deep groundwater sources, essential for agricultural and domestic applications.

The borewell sub-segment leads the Submersible Pumps Market based on type due to its essential role in providing reliable and efficient water extraction solutions, especially in areas with deep groundwater resources. Borewell submersible pumps are specifically designed to operate in narrow and deep wells, making them ideal for extracting water from significant depths where surface pumps are ineffective. Their ability to function entirely submerged in water ensures better cooling and prevents issues related to priming and cavitation, thereby enhancing operational efficiency and longevity. These pumps are particularly vital in agricultural regions, where consistent and dependable water supply is crucial for irrigation purposes. In rural and peri-urban areas, borewell submersible pumps are indispensable for providing potable water, supporting domestic needs, and sustaining livestock. The high demand for these pumps in residential, agricultural, and industrial applications drives their market dominance. Technological advancements in borewell submersible pumps, such as enhanced energy efficiency, corrosion-resistant materials, and advanced control systems, have further increased their reliability and performance. Additionally, the growing emphasis on sustainable water management practices has led to the adoption of more efficient and durable pumping solutions, favouring borewell submersible pumps.

Asia- Pacific (APAC) is leading the Submersible Pumps Market due to rapid urbanization, increasing infrastructure projects, and agricultural expansion driving demand for efficient water management solutions across the region. Economic growth and government initiatives also bolster market expansion in Asia-Pacific.

Asia-Pacific (APAC) is dominating the Submersible Pumps Market due to several key factors contributing to its robust growth. The region's rapid industrialization and urbanization have spurred significant investments in infrastructure, including water supply and wastewater management systems, which require efficient submersible pumps for reliable operation. Moreover, APAC countries like China and India have vast agricultural sectors where submersible pumps are crucial for irrigation, contributing to food security and rural development. The expanding middle class and increasing urban population in APAC also drive demand for residential water supply solutions, further boosting the market. Additionally, favourable government policies and initiatives aimed at improving water resource management and promoting sustainable development play a pivotal role in accelerating market growth. These factors collectively position APAC as a dominant force in the global submersible pumps market, with ongoing urban and rural development fuelling continued expansion and innovation in pump technologies.
•Curtiss-Wright Corporation and Shell Plc announced in May 2023 a strategic agreement that outlined intentions to test, build, and provide operational support for an electro-submersible pump that would be used on a Shell offshore platform in the Gulf of Mexico. By meeting the changing needs of offshore applications, the program seeks to demonstrate Curtiss-Wright's canned motor technology as a dependable and effective replacement for current subsea pump technologies.
•Industrial Flow Solutions announced in February 2022 that it has acquired Dreno Pompe, an Italian firm that is well-known for creating superior electrical submersible pumps specifically designed for wastewater applications. Through this acquisition, Industrial Flow Solutions will be able to capitalize on Dreno Pompe's experience and standing in the wastewater pump industry while expanding its range of products.

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Submersible Pumps Market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Use
• Water & Wastewater
• Oil & Gas
• Agriculture & Irrigation
• Construction
• Mining
• Others

By Type
• Bore Well
• Open Well

By Stage
• Multi Stage
• Single Stage

By Power
• High Power
• Medium Power
• Low Power

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Submersible Pumps industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.
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