The overall submersible motors market worldwide was valued at US$ 4.17 Bn in 2018 and is set to grow with 3.80% CAGR during the forecast period.
Market Insights
Submersible motors, being an integral component of submersible pumps, is heavily dependent on the industrial sector worldwide. In 2018, submersible pumps market valued at more than US$ 9.5 Bn, thereby forming a huge consumer base for submersible motors. Submersible pumps have been used across multiple industries such as oil and gas, water and wastewater, mining and construction, and others, for trouble-free and hassle-free extraction. Thus, due to the extensive use of submersible pumps in the industries, the submersible motors market is on the rise. Increase in industrialization and growth in infrastructure development are the major drivers of the market. On account of all these factors, we are expecting steady growth in the submersible motors market.
Based on application, the industrial segment is the leader in the submersible motors market with more than 60% of the market share. The industrial segment is the leader due to growing capital expenditure and infrastructure development around the globe. The oil & gas sector holds the largest share in the industrial segment on account of increase in production from wells and rises in the exploitation of shale reserves. The lack of availability of water and increased production of wastewater are increasing the demand for submersible pumps, which in turn giving a boom to submersible motors market. As a result, the industrial segment will continue leading the submersible motors market during the forecast period.
Based on geography, in 2018, Asia Pacific was the leader in submersible motors market followed by North America and Europe. Increase in infrastructure development and a rise in industrial investments are the major growth drivers in the region. Due to increased population density in urban areas, there is a decline in water quality and there is a substantial increase in wastewater. Thus, municipalities are increasing investments in sewage and water treatment plants. As the mining industry is rising in India, the need for submersible pumps is increasing and this will in turn will give a boom to the submersible motors market. On account of these factors, we are expecting steady growth in submersible motors market in the region throughout the forecast period.
Major market players are focusing on strategies such as brand enhancement to improve their market position. For instance, in 2018, ABB Motors and Mechanical Inc. unified the Baldor Electric Company name into its global ABB brand. Brand enhancement and new product launch are expected to remain a key strategy in the market in years to come. Some of the major companies profiled in the report include Franklin Electric, Flowserve Corporation, Faradyne Motors, Andritz AG, Shakti Pumps India Limited, Pedrello SpA, Sumoto S.r.l., Lubi Pumps, ABB Motors and Mechanical Inc., Hitachi Industrial Equipment Systems Co., Ltd., Ingeteam Corporación, S.A., Caprari, and others.
This product will be delivered within 2 business days.
Market Insights
Submersible motors, being an integral component of submersible pumps, is heavily dependent on the industrial sector worldwide. In 2018, submersible pumps market valued at more than US$ 9.5 Bn, thereby forming a huge consumer base for submersible motors. Submersible pumps have been used across multiple industries such as oil and gas, water and wastewater, mining and construction, and others, for trouble-free and hassle-free extraction. Thus, due to the extensive use of submersible pumps in the industries, the submersible motors market is on the rise. Increase in industrialization and growth in infrastructure development are the major drivers of the market. On account of all these factors, we are expecting steady growth in the submersible motors market.
Based on application, the industrial segment is the leader in the submersible motors market with more than 60% of the market share. The industrial segment is the leader due to growing capital expenditure and infrastructure development around the globe. The oil & gas sector holds the largest share in the industrial segment on account of increase in production from wells and rises in the exploitation of shale reserves. The lack of availability of water and increased production of wastewater are increasing the demand for submersible pumps, which in turn giving a boom to submersible motors market. As a result, the industrial segment will continue leading the submersible motors market during the forecast period.
Based on geography, in 2018, Asia Pacific was the leader in submersible motors market followed by North America and Europe. Increase in infrastructure development and a rise in industrial investments are the major growth drivers in the region. Due to increased population density in urban areas, there is a decline in water quality and there is a substantial increase in wastewater. Thus, municipalities are increasing investments in sewage and water treatment plants. As the mining industry is rising in India, the need for submersible pumps is increasing and this will in turn will give a boom to the submersible motors market. On account of these factors, we are expecting steady growth in submersible motors market in the region throughout the forecast period.
Major market players are focusing on strategies such as brand enhancement to improve their market position. For instance, in 2018, ABB Motors and Mechanical Inc. unified the Baldor Electric Company name into its global ABB brand. Brand enhancement and new product launch are expected to remain a key strategy in the market in years to come. Some of the major companies profiled in the report include Franklin Electric, Flowserve Corporation, Faradyne Motors, Andritz AG, Shakti Pumps India Limited, Pedrello SpA, Sumoto S.r.l., Lubi Pumps, ABB Motors and Mechanical Inc., Hitachi Industrial Equipment Systems Co., Ltd., Ingeteam Corporación, S.A., Caprari, and others.
This product will be delivered within 2 business days.
Table of Contents
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Dynamics
Chapter 4 Global Submersible Motors Market Analysis, by Motors Type, 2017 – 2027 (US$ Mn)
Chapter 5 Global Submersible Motors Market Analysis, by Application, 2017 – 2027 (US$ Mn)
Chapter 6 North America Submersible Motors Market Analysis, 2017 – 2027 (US$ Mn)
Chapter 7 Europe Submersible Motors Market Analysis, 2017 – 2027 (US$ Mn)
Chapter 8 Asia Pacific Submersible Motors Market Analysis, 2017 – 2027 (US$ Mn)
Chapter 9 Rest of the World (RoW) Submersible Motors Market Analysis, 2017 – 2027 (US$ Mn)
Chapter 10 Company Profiles
List of Figures
List of Tables
Companies Mentioned
- Franklin Electric
- Flowserve Corporation
- Faradyne Motors
- Andritz AG
- Shakti Pumps India Limited
- Pedrello SpA
- Sumoto S.r.l.
- Lubi Pumps
- ABB Motors and Mechanical Inc.
- HITACHI INDUSTRIAL EQUIPMENT SYSTEMS CO., LTD
- Ingeteam Corporación, S.A.
- Caprari
