Submersible Pumps Market - Opportunities and Forecasts 2023
Portland, OR -- (SBWire) -- 03/15/2018 --Increase in count of urban population, and increasing industrialization are the factors that is expected to drive the submersible pumps market. Growing investments in infrastructure development is another factor that will foster the growth of the market. The increasing cases of Motor Failure & High cost of troubleshooting involved are key restraining factors that hampers the growth of the market. Increasing exploration activities related to deepwater and increase in subsea operations are factors that will offer abundant growth opportunities to this market. Designing submersible pump which can operate for a pump intake excess air is a key market challenge faced by manufacturers and end-users.
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The market is segmented on the basis of operation, application, power rating, industry and region. On the basis of operation, the market is segmented into single stage and multistage. On the basis of applications, the market is segmented into industrial sector, agriculture sector and domestic sector. On the basis of power rating, the market is segmented into low power, medium power and high power. On the basis of industry, the market is segmented into water & wastewater, energy & power, mining & construction and other industries. On the basis of region, the market is segmented into Asia-Pacific, North America, Europe, Middle East & Africa and South America.
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