Submersible Pump Market 2022–2031 Global Analysis, Size, Share, Incredible Growth, Detailed Industry Analysis and Business Prospects | FMI

 Globally, sales in the submersible pumps market are set to be valued at US$ 978.5 Mn in 2021, with a stable long-term projection. According to the latest analysis by Future Market Insights (FMI), the submersible pumps market is poised to expand at a 5.1% CAGR over the forecast period 2021–2031.

  • By product type, borewell submersible pumps are expected to account for half of the global market in terms of revenue by the end of the forecast period.
  • By head type, above 100 m pumps are expected to gain popularity over the forecast period owing to increasing demand for water distribution applications.
  • By Application, demand from the municipal sector is anticipated to grow at 5.5% CAGR over the forecast period.
  • East Asia has the leading share in terms of volume. However, Europe is projected to account for the highest value share. Industrialization in the emerging economies of Asia will increase the demand for submersible pumps over the forecast period.
  • China and Japan will continue spearheading growth in East Asia.

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