(MENAFN- PR Newswire) Rise in the number of wastewater treatment projects globally is estimated to assist the sewage submersible pump market grow at a CAGR of 5.3% from 2022 to 2031 Increase in urbanization across developed and developing countries is expected to drive growth of the sewage submersible pump market sales volume
WILMINGTON, Del., Nov. 3, 2022 /PRNewswire/ --
The global is estimated to reach a value of US$ 16.8 Bn by the end of 2031, as per the analysis presented by researchers at Transparency Market Research (TMR). In addition, the study finds that the market for sewage submersible pump is expected to advance at a CAGR of 5.3% during the forecast period, from 2022 to 2031.
Companies are projected to gain sizable growth prospects in Asia Pacific during the forecast period owing to rise in the sales of sewage submersible pumps across varied industries including the agriculture, construction, and mining from India, China, and other nation of the region. Moreover, increase in the urbanization in the regional emerging economies is expected to drive demand for sewage submersible pump market in Asia Pacific.
Major industry players are focusing on the use of strategies such as mergers, acquisitions, and R&Ds in order to stay ahead of the competition. This aside, they are using the strategy of product portfolio expansion in order to attract new customer base, states a TMR study that delivers important insights on the key trends in the sewage submersible pump market. Such factors, in turn, are helping the rapid market growth, note analysts at TMR.
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Sewage Submersible Pump Market: Key Findings
The adoption of sewage submersible pumps is being increasing for transportation of sewage and untreated wastewater. The demand for such pumps is being rising in the agriculture, wastewater treatment, bio gas, construction, and food & beverage industries owing to the ability of these pumps to move solid and fluids waste from input point to discharge point with no obstruction in the flow. This wide product application suggests that the size of sewage submersible pump market is estimated to expand at significant pace during the forecast period. The regulatory bodies of several nations worldwide are incorporating varied technologies and measures so as to save as well as reuse wastewater. Hence, they are investing in the installation of next-gen wastewater treatment projects that can help in treatment and filtration of wastewater and removal of contaminants including chemicals and sewage. Hence, rise in the government investments in wastewater treatment projects is expected to generate significant demand opportunities in the market in the near future. Due to increase in urbanization across many developed and developing countries, the number of construction projects are being is rising across the globe. Furthermore, major emerging economies are focusing on the development of transport networks, energy, sewage and waste systems, and other important facilities. Moreover, rapid development of the construction and infrastructure sectors is driving demand for well-organized wastewater and sewage treatment. These factors suggest the rapid growth of the sewage submersible pump market share during the forecast period.
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Sewage Submersible Pump Market: Growth Boosters
Increase in the application of sewage submersible pumps across varied end-use industries is expected to boost the market growth Surge in the focus of government authorities on wastewater treatment projects is leading to increase in the sales of sewage submersible pump market Rise in urbanization across developed and developing countries worldwide is propelling the market
Sewage Submersible Pump Market: Key Players
Some of the key players profiled in the report are:
Crompton Greaves Consumer Electricals Limited Andritz Group Gorman-Rupp Company Ebara International Corporation KSB SE and CO. KGAA Grundfos Holding A/S Sulzer LTD. Ruhrpumpen Group WILO SE Tsurumi Manufacturing co. Ltd.
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Sewage Submersible Pump Market Segmentation
Type Power Source Electric Hydraulic Air-Driven
Power Rating <1 HP 1 – 5 HP 5 – 15 HP 15 HP
Application Inside Collection Tank/System Outside Collection Tank/System
End-user Residential Commercial Industrial Water & Wastewater Construction Food Processing Industries Paper Mills Others (Sugar Factories, etc.)
Distribution Channel
Region
North America Europe Asia Pacific Middle East & Africa South America
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Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing . TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 9 years.
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SOURCE Transparency Market Research