Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Submersible Pump Market size was valued at USD 11.9 billion in 2024 and is estimated to reach USD 21.2 billion by the end of 2037, rising at a CAGR of 6.3% during the forecast period from, 2025-2037. In 2025, The industry size of submersible pumps is estimated at USD 13.1 billion.
The expansion of the water infrastructure and innovations in agricultural irrigation technologies are estimated to fuel the global sales of submersible pumps. The rising agricultural activities and rural electrification trends are set to augment the demand for submersible pumps in the coming years. The swift urban growth worldwide is driving heavy investments in municipal water management. As per the analysis by the U.S. Geological Survey (USGS), groundwater withdrawals capture more than 24.5% of all freshwater use. The need for fresh water is directly fueling the sales of advanced submersible pumps. Moreover, government subsidies and public-private investments in water infrastructure are poised to promote the adoption of next-gen submersible pumps during the foreseeable period.
The raw material supply potentially influences the production and commercialization of submersible pumps. The U.S. Bureau of Labor Statistics (BLS) study estimates that the producer price index for pump and compressor manufacturing grew by 4.9% YoY in 2024. While the consumer price index for water supply and sewage maintenance registered a 3.7% annual growth. The investment in domestic production capacity is likely to drive innovations in the submersible pumps. The automation trend and smart manufacturing practices are also estimated to boost the global submersible pump market.
Submersible Pump Sector: Growth Drivers and Challenges
Growth Drivers
- Rise in sustainability and chemical recycling infrastructure: The global efforts aimed at minimizing chemical waste and recycling are expected to boost the application of submersible pumps in handling abrasive and multi-phase fluids. The chemical sector is poised to open lucrative doors for submersible pump manufacturers. The public initiatives aimed at expanding large-scale recycling infrastructure are poised to drive the sales of innovative submersible pumps in the coming years. AI and ML integration is estimated to increase the importance of submersible pumps in the chemical field for optimizing process efficiency and supporting high-volume operations.
- High applications in water and wastewater treatment facilities: The high fresh water demand is necessitating governments worldwide to invest in water & wastewater treatment facilities. The modernization moves and digital transformation initiatives are likely to fuel the adoption of next-gen submersible pumps. The majority of companies are investing in high-efficiency pump systems for wastewater and effluent treatment. The strict regulations on the discharge of chemicals in water are also contributing to the increasing of high-efficiency pump systems for wastewater and effluent treatment. The Urban Waste Water Treatment Directive (91/271/EEC) mandates EU chemical companies to adopt advanced submersible pumps.
Emerging Trade Dynamics: 2019–2024 Synopsis
The geopolitical tensions, post-COVID recovery, and rising demand from water infrastructure influenced the sales of submersible pumps between 2019 to 2024. The chemical, electronics, and water treatment sectors are primarily boosting the global trade of submersible pumps. The regional trade agreements and updated safety/environmental regulations are also contributing to the cross-border sales of submersible pumps.
Key Trade Routes
|
Exporter |
Destination |
Avg Annual Growth Rate (%) |
|
U.S. |
Europe |
5.5% |
|
China |
ASEAN |
6.9% |
Notable Trade Patterns (2018–2023)
|
Exporter |
Destination |
Avg Annual Growth Rate (%) |
|
U.S. |
Europe |
5.5% |
|
China |
ASEAN |
6.9% |
|
Germany |
NAFTA |
4.4% |
Global Events Impact: COVID-19
|
Year |
Event |
Impact on Trade Volume (%) |
|
2020 |
COVID-19 Pandemic |
−11.9% |
|
2021 |
Recovery Phase |
+8.1% |
Price History & Submersible Pump Market Synopsis (2019–2024)
The environmental regulations and stable raw material supply influence the sales of submersible pumps globally. The average price growth amounted to 12.2% annually post-2020 in North America, and the prices spiked 18.5% in 2021 in Asia Pacific. This was due to factory shutdowns and shipping delays. Post-2022, the submersible pump registered increasing sales due to the increasing applications in the water and wastewater sectors.
Submersible Pump Price Trend (2019–2024)
|
Year |
North America (USD/unit) |
Europe (USD/unit) |
Asia (USD/unit) |
|
2019 |
182.2 |
175.3 |
168.4 |
|
2020 |
190.1 |
178.1 |
173.1 |
|
2021 |
211.5 |
185.2 |
204.3 |
|
2022 |
219.3 |
214.4 |
218.2 |
|
2023 |
225.6 |
221.2 |
223.6 |
|
2024 |
229.5 (Est.) |
226.5 (Est.) |
228.1 (Est.) |
Annual Global Unit Sales (2019–2023)
|
Year |
Global Units Sold (Million) |
|
2019 |
22.7 |
|
2020 |
20.4 |
|
2021 |
23.9 |
|
2022 |
26.8 |
|
2023 |
28.6 |
|
2024 |
229.5 (Est.) |
Key Factors Influencing Price Fluctuations
|
Factor |
Impact Description |
|
Raw Material Costs |
Steel and copper prices increased 20.4% (2021–2022), boosting pump production costs. |
|
Geopolitical Events |
2022 Russia–Ukraine conflict resulted in a 30.4% energy cost hike, raising EU production costs. |
|
Environmental Policies |
EU carbon tax execution in 2023 added ~5.5% to average unit costs. |
Submersible Pump chemical shipments by Japan’s manufacturing industry (2018–2023)
The sales of submersible pumps are increasing at a high pace in Japan due to the strong presence of key manufacturers and end users. Technological innovations are fueling the sales of I and ML integrated submersible pumps. The rise in public spending on water and wastewater treatment facilities modernization is also opening profitable doors for submersible pump manufacturers.
Total Value of Shipments (2018–2023)
|
Year |
Shipment Value (JPY Trillion) |
|
2018 |
2.35 |
|
2019 |
2.30 |
|
2020 |
2.14 |
|
2021 |
2.46 |
|
2022 |
2.69 |
|
2023 |
2.76 |
Key Market Trends (2018–2023)
|
Segment |
Growth (%) CAGR |
Europe (USD/unit) |
|
Specialty Chemicals |
3.9% |
175.3 |
|
Submersible Pump |
4.5% |
178.1 |
|
Basic Petrochemicals |
-1.3% |
185.2 |
Role of Export Markets
|
Export Category |
Growth in 2023 (%) |
|
Electronic Chemicals |
+11.5% |
|
Submersible Pump to Asia |
+7.9% |
|
Battery Chemicals |
+13.5% |
Challenges
- Infrastructure limitations: The poor infrastructure is one of the major challenges for the sales of submersible pumps in underdeveloped countries. The limited power, logistics, and water resources supply hampers the demand for innovative pumping technologies, including submersible pumps. The study by the World Bank states that in 2023, more than 39.0% of the rural regions in Sub-Saharan Africa lacked reliable electricity. This reflects that low infrastructure availability is hindering the application of submersible pumps.
- Complex regulatory frameworks: The poor and incompetent regulations are expected to hinder the cross-border trade of submersible pumps. Varying regulatory policies are delaying new product launches and market entries. Submersible pump manufacturers are witnessing significant losses due to these time-consuming regulatory approval procedures. As per the International Electrotechnical Commission (IEC) 2024 study, nearly 66.2% of manufacturers witnessed increased costs and delays due to varying certification requirements. The mandatory compliance is adding up the costs, creating pricing challenges.
Submersible Pump Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
6.3% |
|
Base Year Market Size (2024) |
USD 11.9 billion |
|
Forecast Year Market Size (2037) |
USD 21.2 billion |
|
Regional Scope |
|
Submersible Pump Segmentation
Type (Electric Submersible Pumps, Hydraulic Submersible Pumps, Diesel Submersible Pumps)
The electric submersible pumps segment is poised to capture 59.1% of the submersible pump market share by 2037. Water supply, wastewater management, and industrial processes are prime application areas of the electric submersible pumps. The cost-effectiveness compared to hydraulic or diesel-powered counterparts is contributing to the increasing popularity of electric submersible pumps. Furthermore, public funding aimed at the expansion of rural electrification is expected to fuel the sales of electric submersible pumps in the coming years. As per the study by the U.S. Department of Energy (DOE), the push for energy-efficient electric motors and pumps is projected to propel the application of electric submersible pumps, particularly in agricultural and municipal water settings. This reflects that supportive government policies and schemes are set to increase the sales of electric submersible pumps in the coming years.
Application (Agricultural Irrigation, Municipal Water Supply, Industrial & Commercial, Oil & Gas, Mining)
The agricultural irrigation segment is anticipated to hold 46.5% of the global submersible pump market share throughout the forecast period. The fueling demand for innovative water pumping solutions to enhance agricultural activities is expected to double the revenues of the submersible pumps in the coming years. The favorable government subsidies promoting efficient water use technologies are also contributing to the increasing sales of submersible pumps. According to the study by the Food and Agriculture Organization (FAO), efficient irrigation technologies, including submersible pumps, improve water use efficiency by 31% to 41%. This supports sustainable agricultural practices and draws attention from end users.
Our in-depth analysis of the submersible pump market includes the following segments:
|
Type |
|
|
Application |
|
|
End user |
|
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Customize this ReportSubmersible Pump Industry - Regional Scope
APAC Market Forecast
The Asia Pacific submersible pump market is projected to account for 36.8% of the global revenue share through 2037. The swiftly expanding chemical sector is poised to offer high-earning opportunities for submersible pump manufacturers. The active public funding initiatives in the chemical field are set to boost the sales of submersible pumps in the coming years. The urban growth leading to high water demand is also fueling the application of submersible pumps in water and wastewater treatment plants. The rise in public-private investments is likely to increase the production and commercialization of submersible pumps in the region.
In India, the submersible pump market is expected to expand at a rapid CAGR during the study period. The industrial and urban growth is expected to increase the adoption of submersible pumps in several industries. The Ministry of Chemicals and Fertilizers and the Department of Science & Technology are actively focusing on funding initiatives to increase the application of submersible pumps in the chemical sector. The public spending on eco-friendly pumping technologies grew by 22.5% between 2015 to 2023.
China’s chemical manufacturing capacities are foreseen to dominate the sales of submersible pumps in the years ahead. The positive foreign direct investments and rising capital expenditure are poised to fuel the demand for submersible pumps. As per the analysis by the Ministry of Ecology and Environment and the National Development and Reform Commission (NDRC), the public spending on submersible pump technologies rose by 18.5% from 2018 to 2023. The green shift is set to drive innovation in the industrial-grade submersible pumps.
North America Market Statistics
The North America submersible pump market is likely to increase at a CAGR of 5.4% from 2025 to 2037. The robust investment in the municipal water infrastructure upgrade programs is estimated to fuel the application of submersible pumps in the coming years. The planned and ongoing water and wastewater treatment platforms are poised to boost the sales of advanced submersible pumping technologies. The industry 4.0 initiatives are increasing he application of next-gen submersible pumps in both the U.S. and Canada.
The robust innovations in the industrial sector are set to propel the demand for submersible pumps in the U.S. The clean energy and sustainable manufacturing programs are expected to increase the production and commercialization of eco-friendly submersible pumps. The government invested around USD 2.4 billion in clean energy chemical production in 2022. The favorable government initiatives and funding moves are anticipated to fuel the application of submersible pumps.
The swiftly increasing oil sands operations are creating a profitable environment for submersible pump manufacturers in Canada. The submersible pump market growth in investments by both the public and private entities is set to accelerate the sales of innovative submersible pumps. The chemical sector is also set to fuel the application of submersible pumps in the years ahead. The need for advanced technologies to handle corrosive fluids and sustainable chemical manufacturing initiatives is expected to increase the sales of submersible pumps.
Companies Dominating the Submersible Pump Landscape
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
The submersible pump market is characterized by the presence of leading companies and the increasing emergence of startups. The key players are adopting various organic and inorganic marketing strategies, such as new product launches, technological innovations, partnerships & collaborations, mergers & acquisitions, and regional expansion to earn maximum profit shares. They are investing heavily in R&D activities to introduce innovative submersible pumps. Leading companies are forming strategic partnerships with other players to increase their reach. They are also collaborating with end users and raw material suppliers to enhance their production and commercialization activities.
|
Company Name |
Country of Origin |
Revenue Share 2024 |
|
Xylem Inc. |
USA |
12.7% |
|
Grundfos Holding A/S |
Denmark |
11.9% |
|
KSB SE & Co. KGaA |
Germany |
9.6% |
|
Flowserve Corporation |
USA |
6.9% |
|
Sulzer Ltd. |
Switzerland |
6.5% |
|
WILO SE |
Germany |
xx% |
|
Kirloskar Brothers Limited |
India |
xx% |
|
Pentair plc |
USA |
xx% |
|
Weir Group PLC |
UK |
xx% |
|
Franklin Electric Co., Inc. |
USA |
xx% |
|
Flowrox Oy |
Finland |
xx% |
|
Davey Water Products |
Australia |
xx% |
|
Doosan Corporation |
South Korea |
xx% |
|
Pentax Pumps (Pentair) |
Malaysia |
xx% |
Below are the areas covered for each company in the submersible pump market:
In the News
- In March 2024, Ebara Corporation announced the launch of its EcoPump series targeting chemical plants. The innovation led to a 15.5% revenue share growth in Asia Pacific’s chemical processing sector in the second quarter of 2024.
- In January 2024, Grundfos Holding A/S revealed the launch of its CR Submersible Pump series integrated with IoT sensors. This launch resulted in a 20.3% increase in sales within the chemical manufacturing vertical in Europe and North America by mid-2024.
Author Credits: Dhruv Bhatia
- Report ID: 198
- Published Date: Jun 03, 2025
- Report Format: PDF, PPT
