Submersible Motors Market By Motors Type (Single Phase, Three Phase), By Application (Industrial (Oil & Gas, Water & Waste Water, Mining & Construction and Others) Agricultural, Residential) – Growth, Future Prospects and Competitive Analysis, 2019 - 2027

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. The submersible motors market is expected to witness steady growth in the near future due to a rise in industrialization and growth in infrastructure development. Due to their low electricity consumption, robust structure, and high efficiency, submersible motors are extensively used in various industries. An increase in exploration activities related to deep water is giving a boom to submersible pumps, which in turn helps the submersible motor market grow. On account of these factors, we are expecting steady growth in the submersible motor market during the forecast period.

Industrial to Continue as the Market Leader

The industrial segment holds the highest market share in the submersible motor industry, with more than 60% of the market revenue as of 2018. Due to consistent growth in the oil and gas sector and the water and wastewater sector, the industrial segment is on the rise and will continue to dominate the market through the forecast period. An increase in the mining and construction sectors and a rise in investments in infrastructure developments are the major growth drivers for the industrial segment. As a result of these factors, we expect that the industrial segment will continue to grow throughout the forecast period.

Asia Pacific to Continue as the Market Leader

In 2018, Asia Pacific was the leader in the submersible motor market, followed by North America and Europe. Due to rising infrastructure and various industries in the region, such as oil and gas, water and wastewater, and others, Asia-Pacific will grow. In India, government initiatives for the mining industry are improving, such as the 100% foreign direct investment policy (FDI) and others. On account of these government initiatives, companies such as Vedanta Resources PLC, 2017, announced that they were planning to invest USD 9 billion in India's mining industry. Thus, growth for submersible pumps will increase, which in turn will help the submersible motor market in India grow. As a result of all these factors, we are expecting steady growth in the Asia-Pacific region during the forecast period.

Some of the prominent players operating in the submersible motors market include Franklin Electric, Flowserve Corporation, Faradyne Motors, Andritz AG, Shakti Pumps India Limited, Petrello 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 and Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is 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 the global submersible motor market based on motor type, application, and geography. Key segments covered in the report are as follows:

Key questions are answered in this report

• What was the market size of submersible motors in 2018, and what is the 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 motor market?
• What are the drivers of the submersible motor market?
• Who are the key submersible motor companies leading the market?
• What are the key strategies adopted by the leading submersible motor companies in the market?

Unique data points of this report

• Statistics on submersible pumps worldwide
• Recent trends across different regions in terms of the adoption of submersible motors
• Notable developments are going on in the submersible motor industry.
• attractive investment proposition for the submersible motor segment as well as geography
• Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)

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