Submersible Pump Market Report 2024 (Global Edition)

Global Submersible Pump Market Report 2024 Market Size Split by Product Type (Non-clog Submersible, Open Well Submersible, Bore Well Submersible), by Application (Industrial, Water & Wastewater, Minin...

Submersible Pump Market Report Description

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Competitive Landscape of the Submersible pumps Market

The competitive landscape of the submersible pumps market is characterized by intense rivalry among key players, driven by factors such as product innovation, pricing strategies, and geographic expansion. Companies vie for market share by offering diverse product portfolios and emphasizing customer service and support.

• In March 2023, Atlas Copco launched the WEDA D95, a cutting-edge electric submersible dewatering pump equipped with state-of-the-art wear deflector technology. Engineered for durability and reliability, this pump sets a new standard in performance, outlasting comparable models in heavily abrasive environments like mining, tunnelling, and construction. With a power rating of 37 – 43 kW, the WEDA D95 offers operators unparalleled sustainability and productivity enhancements.

(Source: https://www.atlascopco.com/en-in/construction-equipment/news/weda-d95-electric-submersible-pump)

Top Companies Market Share in Submersible Pump Industry: (In no particular order of Rank)

• Xylem
• Sulzer Ltd.
• KSB SE & Co. KGaA
• Grundfos Holding A/S
• Atlas Copco
• Flowserve
• Wilo SE
• Homa Pump Technology
• LEO GROUP PUMP(ZHEJIANG)CO. LTD.
• VANSAN Water Technologies
• Grindex
• HCP PUMP MANUFACTURER CO. LTD.
• EBARA International Corporation
• Schlumberger Limited
• ITT INC.
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

North America dominated the market in 2024 and accounted for around 40% of the global revenue

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue due to robust industrial activities, infrastructure investments, and increasing emphasis on water conservation. Moreover, stringent environmental regulations drive the adoption of advanced pump technologies for wastewater treatment and groundwater management. Additionally, rising demand from sectors like agriculture, oil & gas, and mining further propels market expansion. Enhanced focus on renewable energy sources and sustainable practices also contributes to the rising sales of submersible pumps in the region.

Asia-Pacific is the fastest-growing region attributed to burgeoning industrialization, urbanization, and infrastructure development. Increasing investments in construction projects, coupled with expanding agricultural and mining sectors, drive the demand for submersible pumps. Additionally, growing population and rising disposable incomes spur demand for improved water management solutions in residential and commercial sectors. Furthermore, government initiatives to modernize irrigation systems and ensure access to clean water accelerate market growth in the region.

The current report Scope analyzes Submersible Pump Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Submersible Pump

According to Cognitive Market Research, the global submersible pumps market size was estimated at USD 18954.2 Million out of which North America held the major market of around 40% of the global revenue with a market size of USD 7581.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031. The region's aging water infrastructure necessitates the replacement and upgrading of pumps, driving market demand. Additionally, stringent environmental regulations mandate the use of advanced pump technologies for wastewater treatment and groundwater management, further boosting sales. Moreover, the region's increasing focus on renewable energy sources, such as hydroelectric power, creates opportunities for submersible pumps in hydropower projects. Lastly, the prominence of single-stage pumps in North America's market share is expected to grow due to their versatility and cost-effectiveness in addressing diverse pumping needs across the region.

Europe Submersible Pump

According to Cognitive Market Research, with a market value of USD 18954.2 million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 4.6% from 2024 to 2031. Europe accounted for a share of around 30% of the global market size of USD 5686.26 million. The ongoing infrastructure development projects, particularly in Eastern Europe, create opportunities for submersible pumps in dewatering and construction applications. Additionally, the European Union's initiatives to promote renewable energy sources, such as wind and tidal power, drive the adoption of submersible pumps in offshore installations. Moreover, the region's stringent regulations regarding groundwater protection and pollution control mandate the use of high-quality pumps, stimulating market growth. Lastly, the dominance of multi-stage pumps in Europe's market share is expected to grow due to their ability to deliver high pressure and flow rates, catering to the region's industrial and municipal pumping needs.

Asia Pacific Submersible Pump

According to Cognitive Market Research, the global submersible pumps market size was estimated at USD 18954.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 4359.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.5% from 2024 to 2031. The region's expanding agricultural sector requires efficient irrigation systems, contributing to pump sales. Additionally, government initiatives to improve access to clean water and sanitation facilities in rural areas boost the demand for submersible pumps. Moreover, the increasing adoption of submersible pumps in sectors such as mining, manufacturing, and energy further propels market growth. Lastly, the prominence of above 15 HP pumps in Asia Pacific's market share is expected to grow due to their suitability for large-scale industrial applications and infrastructure projects, catering to the region's growing needs.

South America Submersible Pump

According to Cognitive Market Research, the global submersible pumps market size was estimated at USD 18954.2 Million out of which Latin America market of around 5% of the global revenue with a market size of USD 947.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.9% from 2024 to 2031. Agricultural activities, particularly in countries like Brazil and Argentina, drive the need for irrigation systems, further contributing to market growth. Additionally, government investments in infrastructure projects, such as water supply and sanitation systems, create opportunities for submersible pump manufacturers. Moreover, the region's focus on renewable energy sources, such as hydropower, fuels the demand for submersible pumps in hydroelectric projects. Lastly, the dominance of open well submersible pumps in Latin America's market share is expected to grow due to their versatility and suitability for agricultural and residential applications, aligning with the region's market preferences.

Middle East and Africa Submersible Pump

According to Cognitive Market Research, the global Submersible pumps market size was estimated at USD 18954.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 379.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031. The arid climate and water scarcity in many parts of the region necessitate efficient water management solutions, boosting the adoption of submersible pumps for groundwater extraction and desalination projects. Additionally, ongoing infrastructure development initiatives, including urbanization and construction projects, create opportunities for submersible pump manufacturers. Moreover, the region's growing agricultural sector, supported by government investments in irrigation systems, contributes to market growth. Lastly, the prominence of water & wastewater submersible pumps in MEA's market share is expected to grow due to the region's focus on improving water infrastructure and sanitation facilities to meet growing population needs.

Submersible Pump Market Analysis

Product Type Segment Analysis

According to Cognitive Market Research, open well submersible held the major market share over the forecast period due to their versatility, ease of installation, and suitability for various applications such as agricultural irrigation, residential water supply, and industrial processes. Additionally, increasing demand from emerging economies for groundwater extraction and dewatering solutions drives market expansion. Moreover, advancements in pump technology, such as improved efficiency and durability, further contribute to the rising sales of open well submersible pumps.

Non-clog submersible is the fastest-growing category over the forecast period due to their ability to handle solid-laden fluids effectively, reducing clogging issues and maintenance downtime. Moreover, stringent environmental regulations necessitate the adoption of non-clog pumps for wastewater treatment and drainage applications. Additionally, increasing investments in infrastructure projects and urban development drive the demand for non-clog submersible pumps, particularly in sectors like municipal sewage systems and industrial wastewater treatment plants.

• Non-clog Submersible
• Open Well Submersible
• Bore Well Submersible

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Submersible Pump Industry. Request a Free Sample PDF!

Application Segment Analysis

According to Cognitive Market Research, water & wastewater hold a prominent market share due to escalating global concerns regarding water scarcity and stringent environmental regulations. The increasing need for efficient water management, wastewater treatment, and sewage systems, coupled with rapid urbanization, propels sustained sales. Furthermore, investments in modernizing aging water infrastructure contribute to the segment's growth, driven by the imperative to provide clean and accessible water supplies.

Energy & power is the fastest-growing category over the forecast period, propelled by rising energy demands and the expansion of power generation infrastructure. Submersible pumps play a crucial role in processes such as cooling, fluid circulation, and dewatering in power plants. The increasing focus on renewable energy sources and the development of new power projects worldwide contribute to heightened demand for submersible pumps in this segment, driving robust sales growth over the forecast period.

• Industrial
• Water & Wastewater
• Mining & Construction
• Energy & Power
• Agricultural
• Domestic
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Submersible Pump Head Type Segment Analysis

According to Cognitive Market Research, below 50 m hold a prominent market share due to their versatility and suitability for various applications, including residential water supply, irrigation, and small-scale industrial processes. The accessibility of shallow groundwater sources in many regions further drives the demand for pumps in this segment, ensuring sustained sales.

Above 100 m is the fastest-growing category over the forecast period attributed to the increasing demand for pumps capable of reaching greater depths, particularly in large-scale industrial, mining, and municipal projects. As water sources deplete, industries are compelled to access deeper aquifers, driving the need for high-head submersible pumps. Additionally, advancements in pump technology, including stronger materials and higher efficiency motors, further bolster the appeal of pumps in this segment, driving robust sales growth.

• Below 50 m
• 50 m- 100 m
• Above 100 m

Submersible Pump Power Segment Analysis

According to Cognitive Market Research, electrical hold a prominent market share due to their widespread adoption across various industries, residential, and agricultural applications. The ease of installation, reliability, and availability of electrical power sources contribute to their sustained sales. Additionally, advancements in motor technology and automation further enhance the appeal of electrical pumps, ensuring continued market dominance.

Hydraulic is the fastest-growing category over the forecast period due to their versatility, high efficiency, and suitability for challenging environments such as mining, offshore drilling, and construction. The capability to operate in remote locations and handle abrasive fluids drives demand for hydraulic pumps. Moreover, advancements in hydraulic system design, including improved performance and durability, bolster the attractiveness of these pumps, fuelling their rapid adoption and sales growth over the forecast period.

• Electrical
• Hydraulic
• Air-Driven

Submersible Pump Operation Segment Analysis

According to Cognitive Market Research, single-stage hold a prominent market share due to their simplicity, cost-effectiveness, and suitability for various applications such as residential water supply, irrigation, and drainage. Their ease of installation and maintenance further contribute to sustained sales. Additionally, the availability of single-stage pumps in a wide range of capacities and configurations ensures their continued popularity across different sectors. 

Multi-stage is the fastest-growing category over the forecast period due to their ability to deliver high pressure and flow rates, making them ideal for demanding applications such as industrial processes, municipal water supply, and deep well pumping. The increasing need for efficient water distribution, irrigation systems, and high-rise building water supply drives demand for multi-stage pumps. Moreover, advancements in pump design and materials contribute to improved performance and durability, further boosting their adoption and sales growth over the forecast period.

• Single-stage
• Multi-stage

Submersible Pump Power Rating Segment Analysis

According to Cognitive Market Research, 1-5 HP hold a prominent market share due to their versatility, cost-effectiveness, and suitability for a wide range of residential, agricultural, and commercial applications. These pumps are commonly used for tasks such as residential water supply, irrigation, and small-scale industrial processes, driving their sustained sales. Additionally, their compact size and energy efficiency contribute to their popularity among consumers and businesses.

Above 15 HP is the fastest-growing category over the forecast period attributed to the increasing demand for pumps with higher power ratings, particularly in large-scale industrial, agricultural, and municipal projects. These pumps are capable of handling heavier workloads and pumping larger volumes of fluids, making them ideal for demanding applications such as mining, industrial processing, and large-scale irrigation. Additionally, advancements in pump technology, including improved efficiency and reliability, further fuel the adoption of pumps in this segment, driving robust sales growth over the forecast period.

• Below 1 HP
• 1-5 HP
• 5-15 HP
• Above 15 HP

Author's Detail

Vinayak Bali

Senior Research Analyst at Cognitive Market Research

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