Dublin, Dec. 12, 2018 (GLOBE NEWSWIRE) -- The "Global Submersible Pump Market 2018-2022" report has been added to ResearchAndMarkets.com's offering.
The submersible pump market will register a CAGR of close to 4% by 2022.
IoT devices are increasingly being adopted by key-end user industries such as oil and gas for data capture and in-depth monitoring. This have resulted in improved overall performance efficiency for submersible pumps.
The moderate recovery in crude oil prices in 2017 have prompted rig operators and oil producers to focus on the improvement of energy efficiency of oilfields. Pressure, oil viscosity, market prices, and oil well conditions are some of the factors which affect daily oil production.
Several key vendors such as Flowserve, Sulzer, and Grundfos are offering IoT enabled submersible pumps. These devices help in real time data collection and allows remote access and faster troubleshooting of oilfield equipment. Thus, the growing adoption of IoT in oil and gas industry will drive the growth of the submersible pump market during the forecast period.
The construction and renovation sector have witnessed a rapid growth in developed economies such as the US and countries in Western Europe. Emerging economies of the APAC region such as India, China, and South East Asian countries also witnessed significant growth in the construction sector.
Submersible pumps are used to pump water, slurries and wastewater at construction sites. Thus, the increase in construction activities all around the world will boost the growth of the submersible pump market.
Submersible pumps are costlier than jet pumps. Moreover, the cost of installation, maintenance, and equipment and spares of submersible pumps are much higher than other types of pumps.
Several vendors such as Xylem and KSB are offering submersible pumps on rent to end-user industries such as oil and gas. This will result in huge losses for submersible pump manufacturers. Thus, the high ownership and maintenance cost of submersible pumps are hampering the growth of the market during the forecast period.
The market appears to be fragmented and the competitive environment is quite intense. Factors such as the rapid growth in global construction activities, will provide considerable growth opportunities to submersible pump manufacturers.
Key Players
- Flowserve
- Grundfos
- Schlumberger
- Sulzer
- The Weir Group
Topics Covered
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 05: MARKET SIZING
- Market definition
- Market sizing 2017
- Market size and forecast 2017-2022
PART 06: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 07: MARKET SEGMENTATION BY OPERATION
- Segmentation by operation
- Comparison by operation
- Global multistage submersible pumps - Market size and forecast 2017-2022
- Global single stage submersible pumps - Market size and forecast 2017-2022
- Market opportunity by operation
PART 08: MARKET SEGMENTATION BY TYPE
- Segmentation by type
- Comparison by type
- Global borewell submersible pump market - Market size and forecast 2017-2022
- Global open well submersible pump market - Market size and forecast 2017-2022
- Market opportunity by type
PART 09: CUSTOMER LANDSCAPE
PART 10: MARKET SEGMENTATION BY END-USER
- Segmentation by end-user
- Comparison by end-user
- Water and wastewater management - Market size and forecast 2017-2022
- Mining and construction - Market size and forecast 2017-2022
- Others - Market size and forecast 2017-2022
- Petroleum - Market size and forecast 2017-2022
- Market opportunity by end-user
PART 11: REGIONAL LANDSCAPE
- Geographical segmentation
- Regional comparison
- APAC - Market size and forecast 2017-2022
- EMEA - Market size and forecast 2017-2022
- Americas - Market size and forecast 2017-2022
- Key leading countries
- Market opportunity
PART 12: DECISION FRAMEWORK
PART 13: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 14: MARKET TRENDS
PART 15: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive landscape
PART 16: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Flowserve
- Grundfos
- Schlumberger
- Sulzer
- The Weir Group
For more information about this report visit https://www.researchandmarkets.com/research/46sn7l/submersible_pump?w=12
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