NEWARK, DE /ACCESSWIRE/November 21, 2022/ According to Future Market Insights (IMF), the Southeast Asia submersible pump market is expected to reach US$1,076.8 million in 2032. It is expected to show steady growth at a 5.5% CAGR between 2022 and 2032. In 2022, more than 56.9% of the market share is likely to be occupied by submersible borehole pumps in the region owing to their growing end-use applications.
Water stress has recently become a major problem in developed and developing economies, driving the demand for new water sources capable of meeting the industrial and domestic water needs of Southeast Asia. The use of sewage treatment to alleviate water stress is gaining popularity, which is also propelling the submersible pump market in South Asia.
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In addition to this, the market is expected to be driven by the rapidly growing Oil & Gas, Utilities, Construction, and Mining sectors in Southeast Asia. Submersible pumps constitute approximately 5-7% of the global market due to their growing application in various end-use industries like agriculture, residential, commercial and water utility construction.
To increase sales, many submersible pump manufacturers are focusing on launching innovative products that are both affordable and efficient. They mainly focus on meeting the growing demand for their products from new public and private projects. A few local companies are investing in the creation of state-of-the-art manufacturing facilities.
Key Takeaways from the Southeast Asia Submersible Pump Market Research
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Based on head type, the above 100m segment is expected to reach a valuation of around US$808.4 million by 2032 and post a CAGR of 5.4% from 2022 to 2032.
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In terms of product type, the wellbore segment is expected to represent more than 56% of the submersible pump market share in Southeast Asia by 2032.
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In Southeast Asia, Indonesia is expected to hold a large market share of around 28% in the evaluation period.
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From 2017 to 2021, the Southeast Asia Submersible Pumps Market grew at a CAGR of 5.2%.
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Sales of submersible pumps are expected to skyrocket between 2022 and 2032 at a CAGR of around 5.5% in Southeast Asia.
“National governments are working hard to develop their economies and spending a lot on building smart factories and infrastructure. Sales of submersible pumps are expected to increase throughout the review period,” says an analyst from Future Market Insights.
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Competitive Landscape: Southeast Asia Submersible Pump Market
The submersible pump market in Southeast Asia is highly fragmented and heavily influenced by major producers. Due to rapid technological advancements, industry leaders are seeking to increase their market share by investing in creating new product lines and updating their current product lines.
Some of the renowned companies are growing by strengthening their supply chain, expanding their production facilities and unveiling profitable products to strengthen their market positions. Major players in the market include Xylem Inc., KSB SE & Co. KGaA, Grundfos, Ebara Corporation, and WILO SE, among others.
Find more valuable insights on Southeast Asia Submersible Pumps Market
The research report analyzes market demand trends for submersible pumps. The Southeast Asia market growth estimate and projection is based on factors such as development of end-use industries, impact of COVID-19 crisis, replacement rate and the adoption rate of submersible pumps. According to Future Market Insights research scope, the submersible pumps market has been studied and segmented on the basis of product type, head type and application. The report provides qualitative and quantitative information about the different players in this market. This report also tracks the market from both the supply side and the demand side.
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The Industrial Automation division of Future Market Insights offers a new approach and innovative perspective in analyzing the Industrial Automation market. Comprehensive coverage of equipment, portable, process, construction, industrial and special purpose machinery in the manufacturing sector and a distinctive analysis of the installed base, consumables, replacement and application matrix of USP features make us a pioneering voice in the industry.
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Contents
1. Summary
1.1. Southeast Asia Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Technology roadmap
1.5. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
3. Key Market Trends
3.1. Key trends impacting the market
3.2. Product Innovation / Development Trends
4. Key success factors
4.1. Product Adoption / Usage Analysis
4.2. USP/Product Features
4.3. Strategic promotional strategies
5. 2017-2021 Demand Analysis and Forecast, 2022-2032
5.1. Historical Market Volume Analysis (Thousands of Units), 2017-2021
5.2. Current and future projections of market volume (‘000 units), 2022-2032
5.3. Analysis of annual growth trends
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