Energy & Power: Submersible Pumps For Mining Sector Market Research 2020 Global Trends, Share, Industry Size and Segmentation by 2023

Submersible Pumps For Mining Sector 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 Research 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.

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.)

Industry 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 pump stage, multistage segment accounted for the largest market share with a CAGR of 5.51% during the forecast period.

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 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

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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