Global Submersible Pumps Market: Analysis and Forecast 2028
Bharat Book Bureau Provides the Trending Market Research Report on "Global Submersible Pumps Market By Type, By Mode of Operation, By Power Rating, By Head, By Sector, By Application, By Region, Competition Forecast & Opportunities, 2028” (https://www.bharatbook.com/marketreports/global-submersible-pumps-market-by-type-non-clog-borewell-open-well-by-mode-of-operation-single-stage-vs-multi-s/905780) under Heavy Industry Category. The report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.
Global Submersible Pumps Market stood at $ 9.9 billion in 2018 and is anticipated to grow at a CAGR of around 7% to reach $ 19.3 billion by 2028, on account of increasing demand for submersible pumps in agriculture sector for irrigation purposes, growing need to treat waste water generated from industrial sector and declining groundwater levels. Moreover, rising industrialization coupled with huge investments in infrastructure and water treatment development is expected to increase demand for submersible pumps across the globe during forecast period. Growing demand for water in emerging countries such as India and China owing to increasing construction agriculture activities is further expected to boost demand for submersible pumps. Additionally, factors such as increasing investment in oil & gas exploration, real time monitoring of submersible pumps operations and increasing competition leading to low price of submersible pumps would further drive the market over the next five years.
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Last Update : Jun 14, 2019
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