Market Size of North America Submersible Pumps Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 4.41 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Submersible Pump Market Analysis
The market for North America submersible pumps is expected to grow at a CAGR of more than 4.41% 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, in turn, act as a roadblock to the growth of the market.
- The oil and gas industry is expected to dominate the submersible pumps market due to the increasing upstream activities, increasing production from wells, and increasing exploitation of shale reserves, etc.
- New technology innovations along with existing infrastructure, and demand for energy efficient pumps can create huge opportunities for the market studied.
- The United States is expected to dominate the market over the forecast period, owing to its increasing exploitation of shale reserves along with upcoming oil and gas projects in the coming years.
North America Submersible Pump Industry Segmentation
The North America submersible pumps 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 | |
| United States | |
| Canada | |
| Rest of North America |
North America Submersible Pumps Market Size Summary
The North America submersible pump market is poised for significant growth, driven by stringent regulations for wastewater treatment, recovery in the oil and gas sector, 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 volatility in oil and gas prices, pose obstacles to growth. The oil and gas industry is expected to be a major contributor to the market, fueled by rising upstream activities and the exploitation of shale reserves. Technological innovations and the demand for energy-efficient pumps present substantial opportunities for market expansion, with the United States anticipated to lead due to its extensive shale reserve exploitation and upcoming oil and gas projects.
In the United States, the submersible pump market is further bolstered by the water and wastewater sector, mining, and agriculture. The country's wastewater treatment facilities process a significant volume of wastewater daily, supported by government investments in infrastructure development. The mining industry also contributes to the demand for submersible pumps, with notable metal and iron ore production. The oil and gas sector, with substantial investments in projects, is a key driver of market growth, particularly in deepwater and ultra-deepwater activities in the Gulf of Mexico. The market remains fragmented, with numerous players such as Borets International Ltd, Gorman-Rupp Co, Flowserve Corp, Sulzer AG, and Schlumberger Limited actively participating in the region.
North America Submersible Pumps 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 United States
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2.5.2 Canada
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2.5.3 Rest of North America
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North America Submersible Pumps Market Size FAQs
What is the current North America Submersible Pumps Market size?
The North America Submersible Pumps Market is projected to register a CAGR of greater than 4.41% during the forecast period (2024-2029)
Who are the key players in North America Submersible Pumps Market?
Borets International Ltd , Gorman-Rupp Co , Flowserve Corp , Sulzer AG and Schlumberger Limited are the major companies operating in the North America Submersible Pumps Market.
