Global Submersible Pump Market 2025-2035
Description
Submersible Pump Market Size, Share & Trends Analysis Report by Type (Electrical, Hydraulic, Air-Driven), by Application (Open Pit, Borewell), and by Sector (Industrial, Agricultural, Domestic), Forecast Period (2025-2035)
Industry Overview
Submersible pump market was valued at $16.7 billion in 2024 and is projected to reach $27.6 billion in 2035, growing at a CAGR of 4.7% during the forecast period (2025-2035). The submersible pump market is growing mainly due to rising demand for water supply, irrigation, and wastewater management, along with industrial uses in mining, oil & gas, and construction. Also, there is growing adoption of energy-efficient and IoT-enabled smart pumps, automatic fault recovery, SCADA system integration for centralized control, and water-quality monitoring. These innovations help reduce downtime, extend pump life, improve performance, use advanced corrosion-resistant materials, and foster a growing preference for modular and application-specific designs. For instance, Grundfos offers various speed-controlled pumps that are referred to as ‘E-pumps’, and they’re all equipped with Grundfos MGE motors with an integrated frequency converter.
Market Dynamics
Rising Use of Pumps in Agriculture
Submersible pumps are widely used across the Asia-Pacific to lift groundwater for smallholder and commercial irrigation, enabling reliable year-round watering of rice, vegetables, and high-value crops where surface irrigation is limited. Their growing affordability, electrification, and (increasingly) solar pairing make them a preferred choice for on-farm irrigation, but heavy reliance on pump-based groundwater has intensified water stress and depleted aquifers in parts of the region. For instance, according to the World Bank document, in South Asia, 75–100% of freshwater withdrawals are used for agriculture, significantly higher than global averages, highlighting how dominant irrigation is in regional water consumption.
Submersible Pumps for Industrial Use
Submersible pumps, especially electrical submersible pumps (ESPs), play a pivotal role in the oil & gas industry, serving as efficient artificial lift solutions that boost subterranean pressure and significantly enhance oil and gas extraction. ESPs are a critical component, particularly in extensive offshore fields such as those managed by China National Offshore Oil Corporation (CNOOC). For instance, in 2023, China's production from the South China Sea, where many ESPs operate, reached approximately 410,000 barrels per day of petroleum liquids and 489 billion cubic feet of natural gas.
Market Segmentation
Electrical submersible pumps operate efficiently in many industrial and commercial settings, making them a flexible and reliable option and one of the most efficient means to pump fluids. They are essential for the extraction of oil and gas, particularly as one of several artificial lift systems to maintain sufficient flow in a well where reservoir pressure is declining. In addition to oil and gas extraction, ESPs are widely used to provide drinking water, produce water from deep bore wells, dewatering in the mining industry, and treat wastewater in Wastewater Treatment plants. One of the greatest advantages of ESPs is their ability to produce high production rates of 20,000 barrels per day or greater. Whether it is offshore or on a site with space constraints, ESPs can deliver high production rates in a small package. The ability to effectively pump large amounts of fluid from a small package is made possible by ESP's compact multistage centrifugal assembly and motor technology, along with new advances in materials and motor drive technology, making it possible to reliably pump from deeper depths and in adverse conditions.
Regional Outlook
The global submersible pump market is further divided by geography, including North America (the US and Canada), Europe (the UK, Germany, France, Italy, Spain, Russia, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, Australia and New Zealand, ASEAN Countries, and the Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
North America is Utilizing Submersible Pumps in the Oil Industry
The increasing demand for energy, along with the increasing need to optimize oil & gas production from existing fields, continues to drive the North American electric submersible pump systems market. In North America, technological advancements of electric submersible pump designs, such as increased efficiency, deeper well depths, and improved reliability, propel the market. The increasing emphasis on enhanced oil recovery techniques (often associated with electric submersible pump systems to optimize production rates) drives growth. As oil prices have stabilized and are on the rise, investment in exploration and production is increasing, and the growth associated with this is influencing the need for electric submersible pump systems.
Asia-Pacific Region Dominates the Market with Major Share
In the region, the main drivers of demand for submersible pump include increasing urbanization and the growth of deep-water exploration activities. Also, decreasing freshwater resources combined with rapidly increasing investments in infrastructural development boost the growth of the Asia Pacific submersible pump market. Additionally, based on country, India and China’s submersible pump market is expected to dominate the overall market revenues, backed by rising urbanization coupled with large population shifting to urban areas which are resulting in the high use of water coupled with increasing polluted water rate. In India, agriculture is the major consumer of water in the country, with a net demand of 688 billion cubic meters (BCM) per year, which is about 85% of the total water demand. It is followed by industrial sector demand at 9%, 1 while the potable water demand (urban and rural) is assessed to be at about 6%. It is expected to propel the demand for submersible pumps and boost the Asia-Pacific submersible pump market in the coming years.
Market Players Outlook
The major companies operating in the global submersible pump market include Atlas Copco Group, Sulzer Ltd, SPP Pumps Ltd. (Kirloskar Brothers Limited Group), Flowserve Corporation, and KSB Limited, Ltd., among others. Market players are leveraging partnerships, collaborations, mergers, and acquisition strategies for business expansion and innovative product development to maintain their market positioning.
Recent Developments
Industry Overview
Submersible pump market was valued at $16.7 billion in 2024 and is projected to reach $27.6 billion in 2035, growing at a CAGR of 4.7% during the forecast period (2025-2035). The submersible pump market is growing mainly due to rising demand for water supply, irrigation, and wastewater management, along with industrial uses in mining, oil & gas, and construction. Also, there is growing adoption of energy-efficient and IoT-enabled smart pumps, automatic fault recovery, SCADA system integration for centralized control, and water-quality monitoring. These innovations help reduce downtime, extend pump life, improve performance, use advanced corrosion-resistant materials, and foster a growing preference for modular and application-specific designs. For instance, Grundfos offers various speed-controlled pumps that are referred to as ‘E-pumps’, and they’re all equipped with Grundfos MGE motors with an integrated frequency converter.
Market Dynamics
Rising Use of Pumps in Agriculture
Submersible pumps are widely used across the Asia-Pacific to lift groundwater for smallholder and commercial irrigation, enabling reliable year-round watering of rice, vegetables, and high-value crops where surface irrigation is limited. Their growing affordability, electrification, and (increasingly) solar pairing make them a preferred choice for on-farm irrigation, but heavy reliance on pump-based groundwater has intensified water stress and depleted aquifers in parts of the region. For instance, according to the World Bank document, in South Asia, 75–100% of freshwater withdrawals are used for agriculture, significantly higher than global averages, highlighting how dominant irrigation is in regional water consumption.
Submersible Pumps for Industrial Use
Submersible pumps, especially electrical submersible pumps (ESPs), play a pivotal role in the oil & gas industry, serving as efficient artificial lift solutions that boost subterranean pressure and significantly enhance oil and gas extraction. ESPs are a critical component, particularly in extensive offshore fields such as those managed by China National Offshore Oil Corporation (CNOOC). For instance, in 2023, China's production from the South China Sea, where many ESPs operate, reached approximately 410,000 barrels per day of petroleum liquids and 489 billion cubic feet of natural gas.
Market Segmentation
- Based on the type, the market is segmented into electrical, hydraulic, and air driven.
- Based on the application, the market is segmented into open-pit and borehole.
- Based on the sector, the market is segmented into industrial, agricultural, and domestic.
Electrical submersible pumps operate efficiently in many industrial and commercial settings, making them a flexible and reliable option and one of the most efficient means to pump fluids. They are essential for the extraction of oil and gas, particularly as one of several artificial lift systems to maintain sufficient flow in a well where reservoir pressure is declining. In addition to oil and gas extraction, ESPs are widely used to provide drinking water, produce water from deep bore wells, dewatering in the mining industry, and treat wastewater in Wastewater Treatment plants. One of the greatest advantages of ESPs is their ability to produce high production rates of 20,000 barrels per day or greater. Whether it is offshore or on a site with space constraints, ESPs can deliver high production rates in a small package. The ability to effectively pump large amounts of fluid from a small package is made possible by ESP's compact multistage centrifugal assembly and motor technology, along with new advances in materials and motor drive technology, making it possible to reliably pump from deeper depths and in adverse conditions.
Regional Outlook
The global submersible pump market is further divided by geography, including North America (the US and Canada), Europe (the UK, Germany, France, Italy, Spain, Russia, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, Australia and New Zealand, ASEAN Countries, and the Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
North America is Utilizing Submersible Pumps in the Oil Industry
The increasing demand for energy, along with the increasing need to optimize oil & gas production from existing fields, continues to drive the North American electric submersible pump systems market. In North America, technological advancements of electric submersible pump designs, such as increased efficiency, deeper well depths, and improved reliability, propel the market. The increasing emphasis on enhanced oil recovery techniques (often associated with electric submersible pump systems to optimize production rates) drives growth. As oil prices have stabilized and are on the rise, investment in exploration and production is increasing, and the growth associated with this is influencing the need for electric submersible pump systems.
Asia-Pacific Region Dominates the Market with Major Share
In the region, the main drivers of demand for submersible pump include increasing urbanization and the growth of deep-water exploration activities. Also, decreasing freshwater resources combined with rapidly increasing investments in infrastructural development boost the growth of the Asia Pacific submersible pump market. Additionally, based on country, India and China’s submersible pump market is expected to dominate the overall market revenues, backed by rising urbanization coupled with large population shifting to urban areas which are resulting in the high use of water coupled with increasing polluted water rate. In India, agriculture is the major consumer of water in the country, with a net demand of 688 billion cubic meters (BCM) per year, which is about 85% of the total water demand. It is followed by industrial sector demand at 9%, 1 while the potable water demand (urban and rural) is assessed to be at about 6%. It is expected to propel the demand for submersible pumps and boost the Asia-Pacific submersible pump market in the coming years.
Market Players Outlook
The major companies operating in the global submersible pump market include Atlas Copco Group, Sulzer Ltd, SPP Pumps Ltd. (Kirloskar Brothers Limited Group), Flowserve Corporation, and KSB Limited, Ltd., among others. Market players are leveraging partnerships, collaborations, mergers, and acquisition strategies for business expansion and innovative product development to maintain their market positioning.
Recent Developments
- In July 2025, Kirloskar Brothers Limited launched its JOS Ultra Submersible Pump, designed for agricultural, domestic, and community water systems. The pump delivers reliable water access under varying voltage conditions, offering improved durability and energy efficiency in off-grid or remote areas.
- In October 2024, Franklin Electric, via its Pioneer Pump brand, introduced the Minetuff electric submersible series for dewatering applications in mines and construction. Featuring robust construction, adjustable hydraulics, and thermal protection, it covers 8 hp to 140 hp models suited for wells up to ~74.6 m deep.
- Market value data analysis of 2024 and forecast to 2035.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global submersible pump market. Based on the availability of data, information related to new products and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
Table of Contents
195 Pages
- 1. Report Summary
- Current Industry Analysis and Growth Potential Outlook
- Global Submersible Pump Market Sales Analysis – Type | Application | Sector ($ Million)
- Submersible Pump Market Sales Performance of Top Countries
- 1.1. Research Methodology
- Primary Research Approach
- Secondary Research Approach
- 1.2. Market Snapshot
- 2. Market Overview and Insights
- 2.1. Scope of the Study
- 2.2. Analyst Insight & Current Market Trends
- 2.2.1. Key Submersible Pump Market Trends
- 2.2.2. Market Recommendations
- 3. Market Determinants
- 3.1. Market Drivers
- 3.1.1. Drivers For the Global Submersible Pump Market: Impact Analysis
- 3.2. Market Pain Points and Challenges
- 3.2.1. Restraints For the Global Submersible Pump Market: Impact Analysis
- 3.3. Market Opportunities
- 3.3.1. Opportunities For the Global Submersible Pump Market: Impact Analysis
- 4. Competitive Landscape
- 4.1. Competitive Dashboard – Submersible Pump Market Revenue and Share by Manufacturers
- Submersible Pump Product Comparison Analysis
- Top Market Player Ranking Matrix
- 4.2. Key Company Analysis
- 4.2.1. Atlas Copco Group
- 4.2.1.1. Overview
- 4.2.1.2. Product Portfolio
- 4.2.1.3. Financial Analysis (Subject to Data Availability)
- 4.2.1.4. SWOT Analysis
- 4.2.1.5. Business Strategy
- 4.2.2. Flowserve Corporation
- 4.2.2.1. Overview
- 4.2.2.2. Product Portfolio
- 4.2.2.3. Financial Analysis (Subject to Data Availability)
- 4.2.2.4. SWOT Analysis
- 4.2.2.5. Business Strategy
- 4.2.3. KSB Limited
- 4.2.3.1. Overview
- 4.2.3.2. Product Portfolio
- 4.2.3.3. Financial Analysis (Subject to Data Availability)
- 4.2.3.4. SWOT Analysis
- 4.2.3.5. Business Strategy
- 4.2.4. Sulzer Ltd
- 4.2.4.1. Overview
- 4.2.4.2. Product Portfolio
- 4.2.4.3. Financial Analysis (Subject to Data Availability)
- 4.2.4.4. SWOT Analysis
- 4.2.4.5. Business Strategy
- 4.2.5. SPP Pumps Ltd. (Kirloskar Brothers Limited Group)
- 4.2.5.1. Overview
- 4.2.5.2. Product Portfolio
- 4.2.5.3. Financial Analysis (Subject to Data Availability)
- 4.2.5.4. SWOT Analysis
- 4.2.5.5. Business Strategy
- 4.3. Top Winning Strategies by Market Players
- 4.3.1. Merger and Acquisition
- 4.3.2. Product Launch
- 4.3.3. Partnership And Collaboration
- 5. Global Submersible Pump Market Sales Analysis By Type ($ Million)
- 5.1. Electrical
- 5.2. Hydraulic
- 6. Global Submersible Pump Market Sales Analysis By Application ($ Million)
- 6.1. Open Pit
- 6.2. Borewell
- 7. Global Submersible Pump Market Sales Analysis By Sector ($ Million)
- 7.1. Industrial
- 7.2. Agricultural
- 7.3. Domestic
- 8. Regional Analysis
- 8.1. North American Submersible Pump Market Sales Analysis Type | Application | Sector | Country ($ Million)
- Macroeconomic Factors for North America
- 8.1.1. United States
- 8.1.2. Canada
- 8.2. European Submersible Pump Market Sales Analysis – Type | Application | Sector| Country ($ Million)
- Macroeconomic Factors for Europe
- 8.2.1. UK
- 8.2.2. Germany
- 8.2.3. Italy
- 8.2.4. Spain
- 8.2.5. France
- 8.2.6. Russia
- 8.2.7. Rest of Europe
- 8.3. Asia-Pacific Submersible Pump Market Sales Analysis – Type | Application | Sector | Country ($ Million)
- Macroeconomic Factors for Asia-Pacific
- 8.3.1. China
- 8.3.2. Japan
- 8.3.3. South Korea
- 8.3.4. India
- 8.3.5. Australia & New Zealand
- 8.3.6. ASEAN Countries (Thailand, Indonesia, Vietnam, Singapore, And others)
- 8.3.7. Rest of Asia-Pacific
- 8.4. Rest of the World Submersible Pump Market Sales Analysis – Type | Application | Sector | Country ($ Million)
- Macroeconomic Factors for the Rest of the World
- 8.4.1. Latin America
- 8.4.2. Middle East and Africa
- 9. Company Profiles
- 9.1. ANDRITZ Ritz GmbH
- 9.1.1. Quick Facts
- 9.1.2. Company Overview
- 9.1.3. Product Portfolio
- 9.1.4. Business Strategies
- 9.2. Atlas Copco UK Holdings
- 9.2.1. Quick Facts
- 9.2.2. Company Overview
- 9.2.3. Product Portfolio
- 9.2.4. Business Strategies
- 9.3. BERNT LORENTZ GmbH
- 9.3.1. Quick Facts
- 9.3.2. Company Overview
- 9.3.3. Product Portfolio
- 9.3.4. Business Strategies
- 9.4. Calpeda S.p.A.
- 9.4.1. Quick Facts
- 9.4.2. Company Overview
- 9.4.3. Product Portfolio
- 9.4.4. Business Strategies
- 9.5. Cornell Pump Company
- 9.5.1. Quick Facts
- 9.5.2. Company Overview
- 9.5.3. Product Portfolio
- 9.5.4. Business Strategies
- 9.6. Crompton Greaves Consumer Electricals Ltd.
- 9.6.1. Quick Facts
- 9.6.2. Company Overview
- 9.6.3. Product Portfolio
- 9.6.4. Business Strategies
- 9.7. Franklin Electric Co., Inc.
- 9.7.1. Quick Facts
- 9.7.2. Company Overview
- 9.7.3. Product Portfolio
- 9.7.4. Business Strategies
- 9.8. Grundfos Group
- 9.8.1. Quick Facts
- 9.8.2. Company Overview
- 9.8.3. Product Portfolio
- 9.8.4. Business Strategies
- 9.9. Havells Group
- 9.9.1. Quick Facts
- 9.9.2. Company Overview
- 9.9.3. Product Portfolio
- 9.9.4. Business Strategies
- 9.10. ITT Inc.
- 9.10.1. Quick Facts
- 9.10.2. Company Overview
- 9.10.3. Product Portfolio
- 9.10.4. Business Strategies
- 9.11. Koshin Ltd.
- 9.11.1. Quick Facts
- 9.11.2. Company Overview
- 9.11.3. Product Portfolio
- 9.11.4. Business Strategies
- 9.12. Nanfang Pump Industry Co., Ltd.
- 9.12.1. Quick Facts
- 9.12.2. Company Overview
- 9.12.3. Product Portfolio
- 9.12.4. Business Strategies
- 9.13. Northam Inc
- 9.13.1. Quick Facts
- 9.13.2. Company Overview
- 9.13.3. Product Portfolio
- 9.13.4. Business Strategies
- 9.14. Oswal Pumps Ltd.
- 9.14.1. Quick Facts
- 9.14.2. Company Overview
- 9.14.3. Product Portfolio
- 9.14.4. Business Strategies
- 9.15. SAER Elettropompe S.p.A.
- 9.15.1. Quick Facts
- 9.15.2. Company Overview
- 9.15.3. Product Portfolio
- 9.15.4. Business Strategies
- 9.16. Sakuragawa Pump MFG. Co., Ltd.
- 9.16.1. Quick Facts
- 9.16.2. Company Overview
- 9.16.3. Product Portfolio
- 9.16.4. Business Strategies
- 9.17. Shakti Pumps USA LLC
- 9.17.1. Quick Facts
- 9.17.2. Company Overview
- 9.17.3. Product Portfolio
- 9.17.4. Business Strategies
- 9.18. SPP Pumps Ltd. (Kirloskar Brothers Limited Group)
- 9.18.1. Quick Facts
- 9.18.2. Company Overview
- 9.18.3. Product Portfolio
- 9.18.4. Business Strategies
- 9.19. Sulzer Management Ltd.
- 9.19.1. Quick Facts
- 9.19.2. Company Overview
- 9.19.3. Product Portfolio
- 9.19.4. Business Strategies
- 9.20. Texmo Industries
- 9.20.1. Quick Facts
- 9.20.2. Company Overview
- 9.20.3. Product Portfolio
- 9.20.4. Business Strategies
- 9.21. The Gorman-Rupp Company
- 9.21.1. Quick Facts
- 9.21.2. Company Overview
- 9.21.3. Product Portfolio
- 9.21.4. Business Strategies
- 9.22. The Weir Group PLC
- 9.22.1. Quick Facts
- 9.22.2. Company Overview
- 9.22.3. Product Portfolio
- 9.22.4. Business Strategies
- 9.23. Tsurumi Manufacturing Co., Ltd.
- 9.23.1. Quick Facts
- 9.23.2. Company Overview
- 9.23.3. Product Portfolio
- 9.23.4. Business Strategies
- 9.24. V-Guard Industries Ltd.
- 9.24.1. Quick Facts
- 9.24.2. Company Overview
- 9.24.3. Product Portfolio
- 9.24.4. Business Strategies
- 9.25. VANSAN Water Technologies
- 9.25.1. Quick Facts
- 9.25.2. Company Overview
- 9.25.3. Product Portfolio
- 9.25.4. Business Strategies
- 9.26. WILO SE
- 9.26.1. Quick Facts
- 9.26.2. Company Overview
- 9.26.3. Product Portfolio
- 9.26.4. Business Strategies
- 9.27. Zenit Italian S.r.l.
- 9.27.1. Quick Facts
- 9.27.2. Company Overview
- 9.27.3. Product Portfolio
- 9.27.4. Business Strategies
- 9.28. Zhejiang Fengyuan Pump Industry Co., Ltd.
- 9.28.1. Quick Facts
- 9.28.2. Company Overview
- 9.28.3. Product Portfolio
- 9.28.4. Business Strategies
- 9.29. Zoeller Company
- 9.29.1. Quick Facts
- 9.29.2. Company Overview
- 9.29.3. Product Portfolio
- 9.29.4. Business Strategies
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