"Increasing Industrialization to Boost the Submersible Motors Market"
The submersible motors market worldwide is expected to grow with a CAGR of 3.80% during the forecast period from 2019 to 2027, starting from US$ 4.17 Bn in 2018. Submersible motors market is expected to witness steady growth in the near future due to rise in industrialization and growth in infrastructure development. Due to low electricity consumption, robust structure and higher efficiency submersible motors are extensively used in various industries. Increase in exploration activities related to deep water are giving boom to the submersible pumps which in turn helps submersible motors market growth. On account of these factors, we are expecting steady growth in the submersible motors market during the forecast period.
Market Synopsis
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"Industrial to Continue as the Market Leader"
Industrial segment holds the highest market share in the submersible motors industry with more than 60% of the market revenue, as of 2018. Due to consistent oil & gas sector and water & wastewater sector growth, the industrial segment is on rise and would continue dominating the market through the forecast period. Increase in mining & construction sector, rise in investments for infrastructure developments are the major growth drivers for the industrial segment. As a result of these factors, we are expecting that industrial segment will continue to grow throughout the forecast period.
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"Asia Pacific to Continue as the Market Leader"
In 2018, Asia Pacific is the leader in submersible motors market followed by North America and Europe. Due to rising infrastructure and various industries in the region such as oil & gas, water and wastewater and others, Asia Pacific will grow. In India, the government initiatives for mining industry are improving such as 100% foreign direct investment policy (FDI) and others. On account of these government initiatives companies such as Vedanta Resources PLC in 2017, announced that they are planning to invest USD 9 Bn in India’s mining industry. Thus, growth for submersible pumps will grow which in turn help submersible motors market to grow in India. As a result of all these factors, we are expecting a steady growth in the Asia Pacific region during the forecast period.
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Some of the prominent players operating in the submersible motors market include Franklin Electric, Flowserve Corporation, Faradyne Motors, Andritz AG, Shakti Pumps India Limited, Pedrello SpA, Sumoto S.r.l., Lubi Pumps, ABB Motors and Mechanical Inc., Hitachi Industrial Equipment Systems Co., Ltd., Ingeteam Corporación, S.A., Caprari, and others.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The submersible motors market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global submersible motors market based on motors type, Application and geography. Key segments covered in the report are as follows:
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Billion |
| Segmentation |
Motors Type (2019–2027; US$ Bn)
• Single Phase
• Three Phase
|
|
Application (2019–2027; US$ Bn)
• Industrial
o Oil & Gas Industry
o Water & Waste Water Industry
o Mining & Construction Industry
o Others (Food & Beverages Industry and Others)
• Agricultural
• Residential
|
|
Geography Segment (2019–2027; US$ Bn)
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)
|
Key questions answered in this report
- What was the market size of submersible motors in 2018 and forecast up to 2027?
- Which is the largest regional market for submersible motors?
- What are the major trends followed in overall submersible motors across different regions?
- What are the key market trends and high-growth opportunities observed in the submersible motors market?
- What are the drivers of the submersible motors market?
- Who are the key submersible motors companies leading the market?
- What are the key strategies adopted by the leading submersible motors companies in market?
Unique data points of this report
- Statistics on submersible pumps worldwide
- Recent trends across different regions in terms of adoption of submersible motors
- Notable developments going on in the submersible motors industry
- Attractive investment proposition for submersible motors segment as well as geography
- Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
