Market
Highlights
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.
The submersible pumps for mining sector market is
undergoing various changes with the evolving customer expectations,
acceleration of technological innovation, and shifts in competitive power.
Increasing number of funding commitments for the commercialization and
development of refueling infrastructure, will also be contributing growth for
the market in the years to come.
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Scope
of the report
This study provides an overview of the global
submersible pumps for mining sector market, tracking one market segment across
four geographic regions. The report studies key players, providing a five-year
annual trend analysis that highlights market size, volume and share for North
America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report
also provides a forecast, focusing on the market opportunities for the next
five years for each region. The scope of the study segments the global
Submersible pumps for mining sector market by its product and region.
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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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.
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