Submersible Pumps: India Market Scenario, Trends, Opportunity, Growth and Forecast, 2017-2027

Market Definition

A submersible pump is a machine with a hermetically sealed motor that is tightly attached to the pump body (also known as an electric submersible pump, or ESP). The entire assembly is dipped in the liquid that has to be pumped. This kind of pump’s key benefit is that it doesn’t cause pump cavitation, which is a problem brought on by a large elevation difference between the pump and the fluid surface.

 Market Insights

The market for submersible pumps in India is anticipated to expand at a CAGR of 9.1% from 2022 to 2028. Due to widespread acceptance in agricultural applications, the open well pumps category recorded the majority of the revenue share in 2016. Agriculture applications accounted for the lion’s share of the submersible pumps market in India, followed by residential & commercial, industrial, and applications. India’s agriculture sector is expected to experience significant development in the years to come, thanks to increased infrastructure expenditures in areas like irrigation, cold storage, and warehousing.

The Indian water and wastewater treatment market is growing and gaining widespread attention. The World Bank commented that India could comfortably achieve 7.5% gross domestic product (GDP) growth every year, but not 8.0% unless it implements effective water management strategies. Government agencies are implementing regulatory and funding mechanisms to open up the water and wastewater treatment market for private investments. Rising investments in water & wastewater sector is driving the demand for submersible pumps market in India.

Some of the important driving factors for the submersible pump market in India include increasing infrastructure building activities, rising urbanization, and quick industrialization. The country’s need for submersible pumps has been influenced by both rising agricultural practices and the country’s diminishing groundwater level. The predicted revenues for the India submersible pumps market during the upcoming years are likely to be complemented by expanding industrial applications including mining, power utilities, and oil & gas.

Excess water extraction in India resulted in a 58% decline in the water level between 2011 and 2021. This has translated into an increase in demand for submersible pumps. Additionally, during 2000 to 2021, India attracted an FDI investment of about USD 763.83 billion, and in 2021, the FDI investment in the petroleum and natural gas and mining industries is estimated to be approximately USD 8 billion. Thus, high investments, policies, and various industries are likely to propel the submersible pumps market in the region during the forecast period.

Market Dynamics: Drivers

Growing Number of Water & Wastewater Treatment Plants

Growing construction of residential complexes is accelerating demand for submersible pumps, where they are used for freshwater supply. Moreover, growing installation of wastewater treatment plants across the country is a key driver for generating demand for submersible pumps, which are utilized at various stages of water & wastewater treatment processes, including drainage of slurry or sewage. Water cycle imbalance has stressed out on water availability scenario, thereby creating the need for installing new water & wastewater treatment plants across the country. Consequently, with continuing growth trend, demand for submersible pumps is expected to increase from water & wastewater treatment industry.

Market Dynamics: Challenges

Price Sensitivity

Agricultural sector which dominates the Indian economy is highly price sensitive. Farmers who are decision makers in the purchase of water pumps, do not know about the quality and specifications of a pump. Therefore, low-cost substitutes are highly preferred over good quality pumps available in the market.

Market Segmentation

• Based on Types, the India Submersible Pumps market is segmented into
  • Non-Clog
  • Open-Well
  • Bore-Well
• Based on Product Category, the India Submersible Pumps market is segmented into
  • Solid Handling
  • Non-Solid Handling
• Based on Function, the India Submersible Pumps market is segmented into
  • Electric Pumps
  • Hydraulic Pumps
  • Air Driven
• Based on Head Size, the India Submersible Pumps market is segmented into
  • Below 50M
  • 50M-100M
  • Above 100M
• Based on Power Rating, the India Submersible Pumps market is segmented into
  • Less Than 1HP
  • 1HP-5HP
  • 1HP-15HP
  • More Than 15HP
• Based on KW, the India Submersible Pumps market is segmented into
  • Less Than 10KW
  • 10-30KW
  • 1HP-70KW
  • More Than 70KW
• Based on Product Application, the India Submersible Pumps market is segmented into
  • Agriculture
  • Industrial (Oil & Gas, Water & Wastewater, Fire Fighting, Mining, Construction, Food & Beverages and Others)
  • Residential Water Supply
  • Commercial Water Supply
• Based on Region, the India Submersible Pumps market is segmented into
  • East India
  • West India
  • North India
  • South India
• All market revenue has been given in US Dollar, while the market volumes are given in units.

Historical Year: 2018-2019
Base Year: 2020
Estimated: 2021
Forecast- 2022-2028

Key Questions this Study will Answer

• What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Market Size-By Volume, Forecast Numbers, Market Segmentation, Market Shares) of India Submersible Pumps Market?
• What is the region wise industry size, growth drivers and challenges key market trends?
• What are the key innovations, opportunities, current and future trends and regulations in the India Submersible Pumps Market?
• Who are the key competitors, what are their key strength and weakness and how they perform in India Submersible Pumps Market based on competitive benchmarking matrix?
• What are the key results derived from the market surveys conducted during India Submersible Pumps Market study?