NEWARK, DE / ACCESSWIRE / November 21, 2022 / According to Future Market Insights (FMI), the submersible pump market is expected to reach Southeast Asia US$1,076.8 Mn by 2032. Expected to show steady growth in a CAGR of 5.5% between 2022 and 2032. In 2022, more than 56.9% in the market share is likely to be occupied by submersible pumps in the region due to their increasing end-use applications.
Water stress has recently become a major issue in developed and developing economies, driving the need for new sources of water that can meet industrial and domestic needs. water in Southeast Asia. The use of wastewater treatment to alleviate water constraints is growing in terms of popularity, which is also driving the submersible pump market in South Asia.
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In addition to that, the market is expected to be driven by the rapidly growing oil and gas, utility, construction, and mining sectors in Southeast Asia. Submersible pumps cover the environment 5-7% in the global market due to their increasing application in various end-use industries such as agriculture, residential, commercial, and water utility construction.
To increase sales, many submersible pump manufacturers are concentrating on launching new products that are both affordable and efficient. They mainly focus on meeting the growing demand for their products from new public and private projects. Few local companies have invested in building advanced manufacturing facilities.
Key Takeaways of the Southeast Asia Submersible Pump Market Study
Based on the head type, the over 100m segment is expected to reach a valuation of approx. US$ 808.4 Mn in 2032 and shows a CAGR of 5.4% in 2022 to 2032.
In terms of product type, the borewell segment is expected to account for more than 56% of Southeast Asia submersible pumps market share in 2032.
In Southeast Asia, Indonesia is expected to hold a significant market share for approx 28% during the evaluation.
From 2017 to 2021, the submersible pump market in Southeast Asia exhibits growth at a CAGR of 5.2%.
Sales of submersible pumps are expected to increase between 2022 and 2032 at a CAGR of approx. 5.5% in Southeast Asia.
“Local governments are putting a lot of effort into expanding their economies and spending a lot on building smart factories and infrastructure. It is expected that sales of submersible pumps will increase throughout the assessment period., ” said an analyst at Future Market Insights.
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Competition Landscape: Submersible Pump Market in Southeast Asia
The submersible pumps market in Southeast Asia is highly fragmented and heavily influenced by leading producers. Due to the rapid development of technology, industry leaders are looking to improve their market share by investing in the creation of new product lines and updating their current product lines.
Some of the prominent companies have grown by expanding their supply chain, expanding their production facilities, and introducing cost-effective products to strengthen their market positions. Key players in the market include Xylem Inc., KSB SE & Co. KGaA, Grundfos, Ebara Corporation, and WILO SE among others.
Find More Valuable Insights on the Southeast Asia Submersible Pump Market
The research report analyzes the market demand trends for submersible pumps. Southeast Asia market estimation and growth rate is based on factors such as end-use industry growth, impact of the COVID-19 crisis, replacement ratio, and adoption rate of submersibles. pump. As per the research scope of Future Market Insights, the submersible pump market is studied and segmented on the basis of product type, head type and application. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market on both, the supply side and the demand side.
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The industrial automation division of Future Market Insights offers a new approach and a new perspective to analyze the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery across the manufacturing sector and separate analysis of the installed base, utilities, replacements, and USP-features application matrix makes us a pioneering voice in the industry.
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Table of Contents
1. Executive Summary
1.1. Market Outlook in Southeast Asia
1.2. Demanded Side Trends
1.3. Supply Side Trends
1.4. Technology Map
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Scope / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Affecting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. USPs / Product Features
4.3. Strategic Promotion Strategies
5. Demand Analysis 2017-2021 and Forecast, 2022-2032
5.1. Historical Analysis of Market Volume (‘000 Units), 2017-2021
5.2. Current and Future Market Volume (‘000 Units) Projections, 2022-2032
5.3. YoY Growth Trend Analysis
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