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The Business Research Company's Vertical Immersion Pumps Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, October 2, 2024 /EINPresswire / -- The vertical immersion pumps market has experienced robust growth in recent years, expanding from $3.44 billion in 2023 to $3.58 billion in 2024 at a compound annual growth rate (CAGR) of 3.9%. The growth in the historic period can be attributed to industrial applications, efficiency and reliability, expansion of oil & gas sector, chemical processing demand, water and wastewater treatment.
What Is The Estimated Market Size Of The Global Vertical Immersion Pumps Market And Its Annual Growth Rate?
The vertical immersion pumps market is projected to continue its strong growth, reaching $4.21 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to industry 4.0 integration, energy efficiency focus, emerging renewable energy sectors, advanced materials development, rising demand in Asia-Pacific.
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Growth Driver Of The Vertical Immersion Pumps Market
The growing demand from various industries is expected to propel the demand for the vertical immersion pumps market going forward. Vertical immersion pumps are gaining traction in a variety of sectors, including irrigation, dewatering, water cooling, and oil, gasoline, and lubricant transfer. Due to its multiple uses, there is an increase in demand for vertical immersion pumps in the oil and gas, chemical, and power generation industries because to its increasing demand in the global market.
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Who Are the Leading Competitors in the Vertical Immersion Pumps Market Share?
Key players in the market include KSB SE & Co. KGaA, ITT Inc., Ruhrpumpen Group, Castle Pumps Ltd., AxFlow Holding AB, Flowserve Corporation, North Ridge Pumps Ltd., Tapflo Group, Vertiflo Pump Company, FLUX-Geräte GmbH, Salvatore Robuschi and C. S.r.l., Lenntech BV, Brinkmann Pumps GmbH + Co. KG, Gusher Pumps Inc., Tapflo Pumps UK Ltd., C.R.I. Pumps Pvt. Ltd., National Pump Company, Grundfos Pumps Corporation, Pentair PLC, Simflo Pump Inc., Process Systems Ltd., Neptuno Pumps Ltd., Sintech Precision Products Ltd., Ebara Corporation, Tsurumi Manufacturing Co. Ltd., Weir Group PLC, Kirloskar Brothers Limited, Shakti Pumps Ltd., WPIL Limited, Crompton Greaves Consumer Electricals Limited, Kishor Pumps Pvt. Ltd., Rotech Pumps & Systems Inc., T-T Pumps Ltd., V-Guard Industries Ltd., Vansan Water Technologies, Zhejiang DOYIN Pump Industry Co. Ltd.
Which Key Trends Are Driving Vertical Immersion Pumps Market Growth?
Major companies in the vertical immersion pump market are focusing on developing energy-efficient pumps to strengthen their position in the market. Energy-efficient pumps refer to pumping systems that are designed and operated to minimize energy consumption while maintaining optimal performance. The use of energy-efficient pumps is aimed at reducing waste, resource consumption, and operating costs, as well as extending the lifespan of pumping equipment. Energy-efficient pumps use various technologies and practices to reduce energy consumption and improve overall efficiency.
How Is The Global Vertical Immersion Pumps Market Segmented?
1) By Product Type: Line Shaft Pump (VS-4), Cantilever Pump (VS-5)
2) By Material: PP (GFR), PVDF, Cast iron, Ductile cast iron, WCB, Other Materials
3) By Capacity: Up to 100m3/hr, 100 to 500m3/hr, 500 to 1000m3/hr, Above 1000m 3/hr
4) By Application: Irrigation, Potable Water Supply, Water Cooling, Dewatering, Geothermal Well, Oils, Fuels, Lubricants Transfer, Other Applications
Geographical Insights: North America Leading The Vertical Immersion Pumps Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Vertical Immersion Pumps Market Definition
Vertical immersion pumps are a form of pumping technology that uses an elongated shaft enclosed in a column to isolate the motor from the pump and allow the motor to remain outside the fluid. Its primary purpose is to replace pumps that require flooding, suction, or priming in tanks or pits.
Vertical Immersion Pumps Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global vertical immersion pumps market report covering trends, opportunities, strategies, and more
The Vertical Immersion Pumps Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on vertical immersion pumps market size, vertical immersion pumps market drivers and trends, vertical immersion pumps market major players and vertical immersion pumps market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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