North America Submersible Pump Market Size, Industry Trends

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North America Submersible Pump Market Size, Industry Trends

North America Submersible Pump Market Size, Industry Trends

Segments - North America Submersible Pump Market by Types (Open-well Submersible Pumps, Borewell Submersible Pumps, and Non-clog Submersible Pumps), Drive Types (Hydraulics, Electric, and Others), Capacity (Low, Medium, and High), End-Users (Mining and Construction Industry, Oil and Gas Industry, Water and Wastewater, and Others), Geography (Canada, United States, and the Rest of North America) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Rucha Phatak

Report Description

The North America submersible pump market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 4.41% during 2023–2031. The growth of the market is attributed to the stringent guidelines for wastewater treatment throughout sectors, as well as recoveries in the mining and oil and gas industries are pushing the market.

Submersible pumps are pumps that are immersed in the fluid to be pumped. It is also known as an electric submersible pump. Pumps that are immersed in the fluid to be pumped are known as submersible pumps. When opposed to normal submersible pumps, submersible pumps provide several advantages, such as the avoidance of cavitation.

North America Submersible Pump Market Outlook

Pumps of these types are mostly used in situations where the fluid level or water is below the ground surface. These pumps transfer rotational energy into kinetic energy, which is then converted into mechanical energy to propel water to the surface.

North America Submersible Pump Market Trends, Drivers, Restraints, and Opportunities

Constructions industry expansion and a rise in the industrial base are estimated to boost the market growth during the forecast period.
Rapid urbanization has resulted in increased expenditures in the construction industry is a key factor spurring the market expansion in the coming years.
High operational and maintenance expenses, as well as oil and gas price fluctuations, are projected to restrict the market growth.
Low replacing rate of submersible pumps owing to the product's extended life possesses a major factor that can impede the market expansion in the coming years.
New technological advancements, together with current infrastructure and the need for energy-efficient pumps are expected to create lucrative opportunities for the market players.

Scope of North America Submersible Pump Market Report

The report on the North America submersible pump market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	North America Submersible Pump Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Types (Open-well Submersible Pumps, Borewell Submersible Pumps, and Non-clog Submersible Pumps), Drive Types (Hydraulics, Electric, and Others), Capacity (Low, Medium, and High), and End-Users (Mining and Construction Industry, Oil and Gas Industry, Water and Wastewater, and Others)
Geography	Canada, United States, and the Rest of North America
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	ITT Goulds Pumps Inc; Borets International Ltd; EBARA CORPORATION; Flowserve Corp; Gorman-Rupp Co; Sulzer AG; Weir Group PLC; Halliburton Company; Schlumberger Limited.; and Baker Hughes Company

North America Submersible Pump Market Segment Insights

Borewell submersible pumps segment is projected to account for a large market share

Based on types, the North America submersible pump market is divided into open-well submersible pumps, borewell submersible pumps, and non-clog submersible pumps. The borewell submersible pumps, segment is expected to register at a considerable pace in the market during the forecast period due to the availability of continual water for agriculture, as well as the ease of installation in private, residential, and industrial applications, are all factors that contribute to the acceptance of these products.

North America Submersible Pump Market Types

Electric segment is expected to expand at a significant pace

On the basis of drive types, the market is segmented into hydraulics, electric, and others. The electric segment is expected to constitute a key share of the market in the coming years owing to its growing preferences, which can be ascribed to its great dependability and effectiveness, as well as the fact that it never needs to be fueled as it is already immersed in the fluid. Electrical submersible pumps (ESPs), are extensively employed to transport fluids.

High segment is anticipated to register at a substantial CAGR

In terms of capacity, the North America submersible pump market is segregated into low, medium, and high. The high segment is expected to account for a key share of the market during the forecast period due to lifting heavy materials and have high abrasion resistance, allowing them to work well in difficult situations such as mining and oil and gas.

Oil and gas industry segment is projected to represent a major market share

Based on end-users, the market is divided into the mining and construction industry, oil and gas industry, water and wastewater, and others. The oil and gas industry segment is expected to represent a key share of the market in the coming years owing to rising upstream operations, well productivity, and exploitation of shale reserves. Submersible pumps are used to shift spent drilling mud in and out of the reserves pit, allowing for increased oil and gas production. Submersible progressive cavity pumps (PCP) are broadly applied in the oil & gas sector as they are regarded as the correct method of artificial lift for pumping oil with high sand concentration.

North America Submersible Pump Market End User

United States is expected to dominate the market

On the basis of , the North America submersible pump market is classified as Canada, United States, and the Rest of North America. The United States is anticipated to dominate the market at an impressive CAGR during the forecast period. The country’s market growth can be attributed to the oil and gas industry, water and wastewater industry, farming, mining, and other industries are increasing. During the projected period, the rise of water supply and wastewater infrastructures is anticipated to benefit the submersible pump market, due to massive expenditures in oil and gas projects during the forecast period, the US oil and gas sector is delivering a major boost to the submersible pump market.

Segments

The North America submersible pump market has been segmented based on

Types

Open-well Submersible Pumps
Borewell Submersible Pumps
Non-clog Submersible Pumps

Drive Types

Hydraulics
Electric
Others

Capacity

Low
Medium
High

End-Users

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

Geography

Canada
United States
the Rest of North America

Key Players

ITT Goulds Pumps Inc
Borets International Ltd
EBARA CORPORATION
Flowserve Corp
Gorman-Rupp Co
Sulzer AG
Weir Group PLC
Halliburton Company
Schlumberger Limited.
Baker Hughes Company

Competitive Landscape

Key players competing in the market include ITT Goulds Pumps Inc; Borets International Ltd; EBARA CORPORATION; Flowserve Corp; Gorman-Rupp Co; Sulzer AG; Weir Group PLC; Halliburton Company; Schlumberger Limited.; and Baker Hughes Company. Some of these players are adopting several market strategies including acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to increase their market shares.

North America Submersible Pump Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Submersible Pump Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Submersible Pump Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Submersible Pump Market - Supply Chain
  4.5. Global Submersible Pump Market Forecast
     4.5.1. Submersible Pump Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Submersible Pump Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Submersible Pump Market Absolute $ Opportunity
5. Global Submersible Pump Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Submersible Pump Market Size and Volume Forecast by Types
     5.3.1. Open-well Submersible Pumps
     5.3.2. Borewell Submersible Pumps
     5.3.3. Non-clog Submersible Pumps
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Submersible Pump Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Submersible Pump Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Submersible Pump Demand Share Forecast, 2019-2026
7. North America Submersible Pump Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Submersible Pump Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Submersible Pump Market Size and Volume Forecast by Types
     7.4.1. Open-well Submersible Pumps
     7.4.2. Borewell Submersible Pumps
     7.4.3. Non-clog Submersible Pumps
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Submersible Pump Demand Share Forecast, 2019-2026
8. Latin America Submersible Pump Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Submersible Pump Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Submersible Pump Market Size and Volume Forecast by Types
     8.4.1. Open-well Submersible Pumps
     8.4.2. Borewell Submersible Pumps
     8.4.3. Non-clog Submersible Pumps
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Submersible Pump Demand Share Forecast, 2019-2026
9. Europe Submersible Pump Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Submersible Pump Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Submersible Pump Market Size and Volume Forecast by Types
     9.4.1. Open-well Submersible Pumps
     9.4.2. Borewell Submersible Pumps
     9.4.3. Non-clog Submersible Pumps
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Submersible Pump Demand Share Forecast, 2019-2026
10. Asia Pacific Submersible Pump Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Submersible Pump Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Submersible Pump Market Size and Volume Forecast by Types
     10.4.1. Open-well Submersible Pumps
     10.4.2. Borewell Submersible Pumps
     10.4.3. Non-clog Submersible Pumps
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Submersible Pump Demand Share Forecast, 2019-2026
11. Middle East & Africa Submersible Pump Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Submersible Pump Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Submersible Pump Market Size and Volume Forecast by Types
     11.4.1. Open-well Submersible Pumps
     11.4.2. Borewell Submersible Pumps
     11.4.3. Non-clog Submersible Pumps
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Submersible Pump Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Submersible Pump Market: Market Share Analysis
  12.2. Submersible Pump Distributors and Customers
  12.3. Submersible Pump Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. ITT Goulds Pumps Inc
     12.4.2. Borets International Ltd
     12.4.3. EBARA CORPORATION
     12.4.4. Flowserve Corp
     12.4.5. Gorman-Rupp Co
     12.4.6. Sulzer AG