Dublin, March 06, 2024 (GLOBE NEWSWIRE) -- The "Vertical Immersion Pumps Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
The Global Vertical Immersion Pumps Market was valued at USD 4.08 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 5.19% through 2028.
Diverse drivers including rampant industrialization, burgeoning infrastructural development, and technological innovations are catalyzing the market’s momentum. The market’s trajectory is also bolstered by a heightened emphasis on energy efficiency and sustainability as industries globally pivot toward more eco-friendly practices.
This trend is acutely manifested in areas such as water and wastewater treatment where vertical immersion pumps are essential.
Additionally, the vertical immersion pumps market is experiencing a significant spur from the expansive growth of the oil and gas industry, with applications ranging from crude oil transfer to refining processes and offshore drilling operations. The chemical processing industry, with its robust and evolving needs, has also become a cornerstone of market demand, further energizing the vertical immersion pumps' sales landscape.
Regional Markets Projected to Showcase Varied Growth Patterns
- North America is touted to witness a high CAGR, driven by a persistent need for efficient and dependable pumping solutions across key industries such as oil and gas, and water treatment sectors.
- Europe follows, expected to radiate growth, leveraging the widespread application of these pumps in irrigation and portable water provisions.
- Forecasts indicate the Asia Pacific region will outpace other regions, with predictions of the fastest growth worldwide. This surge is attributed to infrastructural expansions in construction, agriculture, and a spike in water treatment endeavors.
The report's Type Insights segment spotlights Cantilever Pumps for owning the largest market share due to their efficiency, robust design, and reduced need for maintenance.
Under Application Insights, the Portable Water Supply area dominated the market. The sector's requirements for consistent water transfer and treatment processes make vertical immersion pumps indispensable.
The analysis of major players in the market has been discussed, underscoring industry strategies, expansions, and technological milestones. The report showcases how companies are adapting to the market's demands and navigating through technological advancements to maintain a competitive edge.
Environmental Policies Shaping the Market
Environmental regulations and government policies are key factors influencing the vertical immersion pumps market. These policies encourage innovation and adoption of sustainable technologies, shaping a future market landscape that is both efficient and conducive to environmental stewardship.
As industries and economies evolve, the vertical immersion pumps cater not just to current demands but anticipate future needs, thus asserting their crucial role in a sustainable industrial future.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 190 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $4.08 Billion |
| Forecasted Market Value (USD) by 2028 | $5.58 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
Report Scope:
In this report, the Global Vertical Immersion Pumps Market has been segmented into the following categories:
Vertical Immersion Pumps Market, By Type:
- Cantilever Pumps
- Line Shaft Pumps
Vertical Immersion Pumps Market, By Capacity:
- Up to 100 m3/hr
- 100 to 500 m3/hr
- 500 to 1000 m3/hr
- Above 1000 m3/hr
Vertical Immersion Pumps Market, By Application:
- Portable Water Supply
- Irrigation
- Dewatering
- Water Cooling
- Geothermal Well
- Oils, Fuels, & Lubricants Transfer
- Others
Companies Profiled
- Xylem
- KSB
- Grundfos Holding
- Sulzer
- EBARA
- ITT
- Flowserve
- Wilo
- Weir Group
- Verder Liquids
For more information about this report visit https://www.researchandmarkets.com/r/i0rfse
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