Submersible Pump Market Report and Forecast 2025-2034

The global submersible pump market is projected to grow at a CAGR of 6.80% during the forecast period of 2025-2034. The market is being driven by the rising usage of submersible pumps in different end-use sectors, ranging from agriculture to construction, among others.

Growing Utilisation of Electric Submersible Pumps (ESP) to Aid the Global Submersible Pump Industry Growth

The electric submersible pump (ESP) segment based on drive type accounts for a significant share in the market owing to the various advantages offered by the product. Electric submersible pump offers low bottomhole pressure, low bubblepoint, low gas/oil ratio, high water cut, and low API gravity fluids. Additionally, ESP is adaptable to highly deviated wells and subsurface wellheads. Furthermore, ESP is quiet, safe, and acceptable for industrial operations in the environmentally conscious areas. These factors are aiding the growth of the segment.

The Asia Pacific Accounts for a Significant Share in the Submersible Pump Industry

The submersible pump industry in the Asia Pacific is driven by the expansion of industrial facilities in countries like China and India, owing to the low cost of raw materials and favourable government policies. The increasing concerns regarding water scarcity are also invigorating the demand for submersible pumps to boost wastewater management. Furthermore, the thriving mining and construction industry in the region is likely to provide an impetus to the market in the forecast period.

Submersible Pump: Market Segmentation

A submersible pump is defined as a type of motor which is air-tight sealed and close-coupled to the pump body. This motor prevents pump cavitation and can be fully-submerged in water. The properties of submersible pumps make them a useful product in a variety of applications.

Based on type, the market can be segmented into

• Borewell Submersible Pump
• Openwell Submersible Pump
• Non-clog Submersible Pump

Based on drive type, the market can be segmented into

• Electric
• Hydraulic
• Others

By head, the market can be divided into

• Below 50m
• Between 50m and 100m
• Above 100m

The significant end uses of the market include

• Water and Wastewater
• Oil and Gas Industry
• Mining and Construction Industry
• Others

Based on region, the market can be divided into

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Growing Adoption of Submersible Pump for Industrial Applications to Boost the Growth of the Submersible Pump Industry

Submersible pumps are light-weight, versatile, and can be deployed easily, which makes them applicable in the agriculture and firefighting industries. In addition to this, submersible pumps are used for oil applications and are likely to witness a significant increase in demand owing to the global increase in demand for crude oil and petroleum. The increasing demand for energy is supporting this trend. Furthermore, the thriving construction industry in emerging economies owing to the rising demand for residential construction and a surge in population is likely to aid the market growth in the forecast period.

Key Industry Players in the Global Submersible Pump Market

The report gives a detailed analysis of the following key players in the global submersible pump market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Baker Hughes Company
• Schlumberger Limited
• Halliburton Energy Services, Inc.
• Weir Group PLC
• Sulzer Ltd.
• Grundfos Holding A/S
• The Gorman-Rupp Company
• Flowserve Corporation
• Atlas Copco AB
• Ebara Corporation
• Others

The comprehensive report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.