Market Size of Europe Submersible Pump Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 4.10 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Submersible Pump Market Analysis
The Europe submersible pump market is expected to grow at a CAGR of approximately 4.1% during the forecast period of 2020 - 2025. Major factors driving the market are the strict regulations for wastewater treatment across industries, recovery in the oil and gas and mining industry, growth in the construction industry, and a surge in industrial infrastructure. However, this market faces certain challenges, such as high maintenance & operation costs, and volatility in oil & gas prices. These factors are expected to act as a restraint to the growth of the market.
- The oil and gas industry is expected to witness significant demand due to the increasing capital expenditure, maintain or increase in production from wells, and increasing exploitation of shale reserves, etc.
- Retrofitting, upgrading aging and existing infrastructure along with new technology innovations can create huge opportunities for the market studied.
- Norway is expected to drive the market demand over the forecast period, owing to the number of upcoming offshore oil and gas projects.
Europe Submersible Pump Industry Segmentation
The Europe submersible pump market report include:
| Type | |
| Borewell Submersible Pump | |
| Openwell Submersible Pump | |
| Non-clog Submersible Pump |
| Drive Type | |
| Electric | |
| Hydraulic | |
| Other Drive Types |
| Head | |
| Below 50 m | |
| Between 50 m to 100 m | |
| Above 100 m |
| End-User | |
| Water and Wastewater | |
| Oil and Gas Industry | |
| Mining and Construction Industry | |
| Other End Users |
| Geography | |
| Norway | |
| Germany | |
| Russia | |
| United Kingdom | |
| Rest of Europe |
Europe Submersible Pump Market Size Summary
The Europe submersible pump market is poised for growth, driven by stringent wastewater treatment regulations, a rebound in the oil and gas and mining sectors, and expansion in the construction industry. The market is also benefiting from increased industrial infrastructure development. However, challenges such as high maintenance and operational costs, along with fluctuating oil and gas prices, pose potential restraints to market growth. The oil and gas industry, in particular, is expected to see significant demand for submersible pumps due to rising capital expenditures, efforts to maintain or boost production, and the exploitation of shale reserves. Opportunities for market expansion are further bolstered by retrofitting and upgrading aging infrastructure, as well as technological innovations.
Norway is anticipated to be a key driver of market demand, supported by upcoming offshore oil and gas projects. The country's commitment to expanding infrastructure for rural wastewater treatment, due to geographical challenges, is expected to enhance the demand for submersible pumps. The oil and gas sector in Norway, a major contributor to the national economy, is set to benefit from increased investments and licensing rounds, which are likely to boost production and, consequently, the demand for submersible pumps. The market in Europe remains highly fragmented, with numerous players such as Borets International Ltd, Gorman-Rupp Co, Flowserve Corp, Sulzer AG, and Schlumberger Limited actively participating.
Europe Submersible Pump Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2025
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Borewell Submersible Pump
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2.1.2 Openwell Submersible Pump
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2.1.3 Non-clog Submersible Pump
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2.2 Drive Type
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2.2.1 Electric
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2.2.2 Hydraulic
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2.2.3 Other Drive Types
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2.3 Head
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2.3.1 Below 50 m
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2.3.2 Between 50 m to 100 m
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2.3.3 Above 100 m
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2.4 End-User
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2.4.1 Water and Wastewater
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2.4.2 Oil and Gas Industry
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2.4.3 Mining and Construction Industry
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2.4.4 Other End Users
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2.5 Geography
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2.5.1 Norway
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2.5.2 Germany
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2.5.3 Russia
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2.5.4 United Kingdom
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2.5.5 Rest of Europe
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Europe Submersible Pump Market Size FAQs
What is the current Europe Submersible Pump Market size?
The Europe Submersible Pump Market is projected to register a CAGR of 4.10% during the forecast period (2024-2029)
Who are the key players in Europe Submersible Pump Market?
Borets International Ltd , Gorman-Rupp Co , Flowserve Corp , Sulzer AG and Schlumberger Limited. are the major companies operating in the Europe Submersible Pump Market.
