The global submersible pumps for mining
sector market is a very dynamic market and is expected to witness high growth
over the forecast period. The growth of submersible pumps for mining sector
market is influenced by growing urban population, rapid industrialization, and
huge investments for infrastructure development in the region. Moreover, submersible
pumps are waterproof and prevent leakage of the liquid or electric charge when
the pumps are immersed in liquid. Additionally, these pumps do not need extra
space or utility room for their existence and can be immersed deeper in the
liquid unlike any other pumps. Whereas, high cost of the submersible pumps
& other substitute pumps, act as a major restraint for the growth of the
market.
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Segmentation
The global Submersible pumps for mining
sector market has been segmented, based on Well Type, Pump Stage, Power Ratings
and region.
On the basis of well type, bore well
segment dominates the global submersible pumps for mining sector market with a
share of 65.9% in 2016, and expected to grow at a CAGR of 5.38% during the
forecast period.
On the basis of pump stage, multi stage
segment accounted for the largest market share with a CAGR of 5.51% during the
forecast period.
On the basis of power ratings, high power
segment accounted for the largest market share and is projected to grow at the
highest CAGR of 5.66%, during the forecast period
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Regional
Analysis
In terms of geography, Asia Pacific
accounted for the majority market share and will continue to dominate the
market in the forecast period. The submersible pump for mining sector is
primarily driven by strong industrialization & increasing urbanization and
increasing demand from mining & sludge treatment industry. Strong growth
prospect of construction industry in the Asia Pacific region, is expected to
drive demand for submersible pumps for mining sector in the coming years. China
accounted for the largest market share of 33.59% in 2016, with a market value
of USD 208.6 million, and is projected to grow at the highest CAGR of 6.41%
during the forecast period.
Key
Players
The key players of global Submersible
pumps for mining sector market includes Xylem Inc. (U.S.), Grundfos Group
(Demark), KSB Aktiengesellschaft (Germany), Sulzer Ltd (Switzerland), Ebara
Corporation (Japan), Atlas Copco AB (Sweden), Flowserve Corporation (U.S.), The
Weir Group Plc. (Scotland), Tsurumi Manufacturing Co., Ltd (Japan) and The
Gorman-Rupp Company (U.S.)
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