Pune, India -- (SBWIRE) -- 01/20/2020 -- Infinium Global Research has added a new report on Submersible Pumps Market (Type - Open Well, and Bore Well; Operation - Single Stage, and Multi-Stage; Power Rating - Low Power, Medium Power, and High Power; End-Use Industry - Water & Wastewater, Energy & Power, Mining & Construction, and Other Industries): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025. According to the report, the global submersible pumps market is projected to grow at a CAGR of 5.7% over the forecast period of 2019-2025.

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Submersible Pumps Market: Drivers and Restraints

Increasing urbanized population and industrialization is one of the major driving factors of the submersible pumps market. Further, factors such as growing investment in infrastructure development, growth in the construction industry, and investment in water treatment development are also driving the market growth. However, the increasing cases of motor failure & the high cost of troubleshooting involved are restraining the growth of the market. Moreover, the massive influx of investments in the oil & gas projects is expected to provide wide growth opportunities to the market players.

Water & Wastewater Segment Holds a Large Market Share

The global submersible pumps market is segmented on the basis of type, operation, power rating, and end-use industry. On the basis of type, the market is segmented into open well and bore well. The bore well segment holds a large market share owing to their greater efficiency in groundwater extraction across various application areas including domestic, industrial, and agriculture. Based on operation, the sub-markets include single-stage and multi-stage. Based on the power rating, the market is segmented into low power, medium power, and high power.  By end-use industry, the market is categorized into water & wastewater, energy & power, mining & construction, and other industries. The water & wastewater segment holds a large market share due to the high volume consumption of submersible pumps in this sector.

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Submersible Pumps Market: Regional Insight

Among the regions, Asia-Pacific holds the largest market share of the global submersible pumps market. The expansion of industries, such as oil and gas, construction, etc. in developing countries China and India are driving the growth of the market in the Asia-Pacific region. China is experiencing rapid growth in urbanization rate which is resulting in declining water quality that led to an increase in the demand for submersible pumps in China.

Submersible Pumps Market: Competitive Analysis

Some of the industry participants of the global submersible pumps market are Sulzer AG, Xylem Inc., KSB Group, Grundfos Group, Halliburton Company, The Gorman-Rupp Company, Ebara Corporation, Atlas Copco AB, Flowserve Corporation, and General Electric Company among the others.

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About Infinium Global Research
The Infinium Global research comprises of a team of well-experienced analysts who have qualified in generating incisive reports. The submersible pumps market report offers trends, opportunities, challenges, market size, and forecast for major geographical regions and key countries. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the submersible pumps market.