Submersible Pump Market Size & Share, by Type (Open-Well, Bore-Well); Head Type (Below 50 m, 50 m-100 m, Above 100 m); Operations (Single-Stage, Multi-Stage); Power Rating (Low, Medium, High-Voltage); End-user (Mining & Construction, Water & Waste Water Management, Pulp & Paper, Chemicals, Pharmaceuticals, Food & Beverage) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 198
  • Published Date: Aug 11, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Submersible Pump Market size is poised to cross USD 20 Billion by the end of 2035, growing at a CAGR of 5% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of submersible pump was USD 10 Billion. The growth of the market can be attributed to the growing investment in infrastructural development. By 2025, the global annual expenditure on the development of infrastructures is expected to exceed USD 9 trillion. Submersible pumps are utilized during construction to dewater diggings, allowing for safe and efficient building.

In addition to these, factors that are believed to fuel the market growth of submersible pump include the technological advancement of submersible pumps. Because of the introduction of Internet of Things (IoT) technology, automated tracking and oversight of submersible pumps is now possible. Real-time data analytics and predictive maintenance contribute in the increase of pump efficiency, aversion of problems, and the reduction of downtime.

Submersible Pump Market
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Submersible Pump Sector: Growth Drivers and Challenges

Growth Drivers

  • Rising Agricultural Activities– Agriculture, forestry, and fishing generated a 78 percent increase in real terms between 2000 and 2020, surpassing USD 3.6 trillion in 2020. Moreover, in 2021, the agriculture sector holds a solid 4% share of the global GDP. Farmers are using submersible pumps to raise water from wells and boreholes and distribute it to roots, ensuring equal water distribution.
  • Increasing Demand for Clean Water – Submersible pumps are utilized frequently for obtaining clean water from ground levels. Therefore, the rising demand for clean water is contributing to the submersible pump market growth. Freshwater is necessary for a healthy human life, but 1.1 billion people across the globe need access to it, and 2.7 billion face a shortage of water.
  • Growing Production of Paper– In 2021, the worldwide use of paper and paperboard was around 408 million tonnes. Consumption is expected to rise further over the next ten years, reaching 476 million tonnes by 2032. Submersible pumps are used in the papermaking process to move slurry or pumps between stages.


  • Difficulty in Maintenance and Service- Since submersible pumps are placed below or deep beneath the ground, they may prove difficult to maintain and service on a regular basis. Furthermore, regular maintenance is critical for decreasing downtime and operating disturbances.
  • Large Network of Competitive Market
  • Hard to Design a Versatile Pump

Submersible Pump Market: Key Insights

Base Year


Forecast Year




Base Year Market Size (2022)

~ USD 10 Billion

Forecast Year Market Size (2035)

~ USD 20 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Submersible Pump Segmentation

Type (Open-Well Submersible Pump, Bore-Well Submersible Pump)

The bore-well submersible pump market is estimated to gain the largest revenue share of about 60% in the year 2035. The growth of the segment can be attributed to the increasing usage of groundwater. Since surface water, such as lakes and rivers are depleting rapidly, therefore the popularity of bore submersible pumps are becoming increasingly important in both residential and commercial sectors. On the other hand, rising urbanization and a growing population are increasing the demand for water and thus driving the growth of the bore-well submersible segment.

Head Type (Below 50 m, 50 m-100 m, Above 100 m)

The above 100 m segment is expected to garner a significant share of around 41% in 2035. The deep levels of freshwater bodies are the major growth factor of the segment growth. Usually, in water distribution activities, water is extracted from lakes and rivers, which are mostly above 100 meters levels. Therefore, the need for a pump with a head height over 100 m becomes increasingly important. Moreover, lakes are often located more than 395 meters below sea level. Additionally, Lake Baikal in Russia is the world's deepest lake. In spots, its bottom is nearly 2 kilometers (more than 1 mile) below the surface.

Our in-depth analysis of the global market includes the following segments:


  • Open-Well Submersible Pump
  • Bore-Well Submersible Pump

    Head Type

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


  • Single-Stage
  • Multi-Stage

    Power Rating

  • Low-Voltage
  • Medium-Voltage
  • High-Voltage

    End Use Industry

  • Mining & Construction
  • Water & Waste Water Management
  • Pulp & Paper
  • Chemicals
  • Pharmaceuticals
  • Food & Beverage

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Submersible Pump Industry- Regional Synopsis

North American Market Forecast

The submersible pump market in North America is projected to be the largest with a share of about 35% by the end of 2035. The growth of the market can be attributed majorly to the increasing exploration of shale gas and other unconventional energy resources. According to the US Energy Information Administration (EIA), US dry natural gas production from shale deposits was approximately 28.5 trillion cubic feet (Tcf) in 2022, accounting for roughly eighty percent of total US dry natural gas production. Furthermore, the implementation of policies for oil and gas recovery is also expected to drive market growth in North America

APAC Market Statistics

The Asia Pacific submersible pump market is estimated to be the second largest, registering a share of about 28% by the end of 2035. The growth of the market can be attributed majorly to the rising government initiative to provide fresh water in rural regions. In 2019, the Indian government launched Mission Jal Jeevan to deliver water supply via pipes service to every household in rural India by 2024. The program focused on the establishment of water sources, and infrastructure, such as water treatment, point-of-entry water treatment systems, further followed by integration of capacity building, and involvement of the community.

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Submersible Pump Market Size
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Companies Dominating the Submersible Pump Landscape

    • Wacker Neuson Group
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Atlas Copco AB
    • Xylem Inc.
    • Sulzer AG
    • The Weir Group PLC
    • Kriloskar Brothers Ltd.
    • Flowserve Corporation
    • Shimge Pump Industry Group Co., Ltd.
    • Pleuger Industries
    • Shakti Pumps Ltd.


In The News

  • Pleuger Industries announced the service partnership with Sun Star Electric Inc. for providing the submersible pump services to the North and South region of America. Moreover, it will also provide after-sales support to the customers.
  • Atlas Copco Power and Flow announced the launch of the WEDA D95, the latest electric submersible dewatering pump technology. It has a much longer life than traditional submersible pumps and can endure harsh environment that occurs during mining, construction, and tunneling.

Author Credits:  Payel Roy, Dhruv Bhatia

  • Report ID: 198
  • Published Date: Aug 11, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing demand for various industries, including construction, pulp and paper, food & beverage, and oil and gas are the major factors driving the market growth.

The market size of submersible pump is anticipated to attain a CAGR of approximately 5% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Wacker Neuson Group, Atlas Copco AB, Xylem Inc., Sulzer AG, The Weir Group PLC, Kriloskar Brothers Ltd., Flowserve Corporation, Shimge Pump Industry Group Co., Ltd., Pleuger Industries, and Shakti Pumps Ltd.

The bore well submersible pump segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Submersible Pump Market Report Scope

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