"Increasing Industrialization to Boost the Submersible Motors Market"

The submersible motors market worldwide is expected to grow with a CAGR of 3.80% during the forecast period from 2019 to 2027, starting from US$ 4.17 Bn in 2018. Submersible motors market is expected to witness steady growth in the near future due to rise in industrialization and growth in infrastructure development. Due to low electricity consumption, robust structure and higher efficiency submersible motors are extensively used in various industries. Increase in exploration activities related to deep water are giving boom to the submersible pumps which in turn helps submersible motors market growth. On account of these factors, we are expecting steady growth in the submersible motors market during the forecast period. 

"Industrial to Continue as the Market Leader"

Industrial segment holds the highest market share in the submersible motors industry with more than 60% of the market revenue, as of 2018. Due to consistent oil & gas sector and water & wastewater sector growth, the industrial segment is on rise and would continue dominating the market through the forecast period. Increase in mining & construction sector, rise in investments for infrastructure developments are the major growth drivers for the industrial segment. As a result of these factors, we are expecting that industrial segment will continue to grow throughout the forecast period.

"Asia Pacific to Continue as the Market Leader"

In 2018, Asia Pacific is the leader in submersible motors market followed by North America and Europe. Due to rising infrastructure and various industries in the region such as oil & gas, water and wastewater and others, Asia Pacific will grow. In India, the government initiatives for mining industry are improving such as 100% foreign direct investment policy (FDI) and others. On account of these government initiatives companies such as Vedanta Resources PLC in 2017, announced that they are planning to invest USD 9 Bn in India’s mining industry. Thus, growth for submersible pumps will grow which in turn help submersible motors market to grow in India. As a result of all these factors, we are expecting a steady growth in the Asia Pacific region during the forecast period.

Some of the prominent players operating in the submersible motors market include Franklin Electric, Flowserve Corporation, Faradyne Motors, Andritz AG, Shakti Pumps India Limited, Pedrello SpA, Sumoto S.r.l., Lubi Pumps, ABB Motors and Mechanical Inc., Hitachi Industrial Equipment Systems Co., Ltd., Ingeteam Corporación, S.A., Caprari,  and others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Submersible Motors market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Submersible Motors market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Submersible Motors market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Submersible Motors market?
• Which is the largest regional market for Submersible Motors market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Submersible Motors market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Submersible Motors market worldwide?