Submersible Pumps for Mining Sector Market Highlights
Market
Research Future (MRFR's) recently published an in-depth report on submersible
pumps for mining sector market contains valuable market insights that have
derived after careful analysis of the pertinent trends and factors impacting
the market. MRFR has predicted an impressive CAGR over the forecast period. A detailed analysis
report of COVID-19 impact on
Submersible Pumps For Mining Sector Market Research is provided with the report.
Submersible pumps in the mining sector are used for
water procurement, dewatering, and distribution. Regulation of water is one of
the most common problems in the mining industry due to mine dewatering
practices are compulsory for the prevention of hazards. Submersible pumps are
leveraged to remove unnecessary water, which generates substantial demand
within the market. Rapid industrialization across the globe has accelerated
mining and exploration activities across the globe, which has fostered the
growth of the submersible pumps for the mining sector.
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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.
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
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Regional Analysis
Region-wise, the submersible pumps for mining sector
market has been segmented into North America, Rest-of-the-World (RoW), Europe,
and Asia Pacific (APAC).
The APAC is the largest submersible pumps for mining
sector market and is likely to dominate the global market throughout the
forecast period. The market growth can be credited to the continuous demand
generated by the mining and sludge treatments sector. Fast track
industrialization has further supported the growth of the mining industry,
which has further boosted the growth of the market. In 2016, China held the
largest share of 33.59% of the market, with a valuation of USD 208.6 Mn. China
is projected to capture the highest CAGR of 6.41% over the forecast period.
Furthermore, the economic upturn in the emerging economies of the region has
greatly influenced the growth of the mining industry in the region, which has
favored the growth of the APAC submersible pumps for mining sector market.
The market growth in the developed regions such as
North America and Europe is not as impressive as in the emerging economies,
although these markets account for a significant share of the market.
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Research Future:
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