A submersible pump is an equipment whose assembly are kept submerged in the fluids that it needs to pump thus preventing the formation of any vapor cavity in the liquid and work by pushing fluids to the surface from their submerged positions. These pumps are developed for different flow rates of the liquid satisfying different purposes in industries in India. The swift growth of submersible pumps market can be attributed to the increasing investments in construction industry and high demand for submersible pumps in agriculture sector. Introduction of innovative electric submersible pumps designed specifically for drainage, sludge and slurry pumping applications are boosting the market growth. These pumps help in preventing product failure, human errors, sudden loss of voltage and overheating. Manufacturers are setting high standards in terms of innovation and sustainability.
A submersible pump or Electric Submersible Pump (ESP) is a device which has a hermetically sealed motor close-coupled to the pump body. The whole assembly is submerged in the fluid to be pumped. The main advantage of this type of pump is that it prevents pump cavitation, a problem associated with a high elevation difference between the pump and the fluid surface. Submersible pumps push fluid to the surface, rather than jet pumps, which create a vacuum and rely upon atmospheric pressure. Submersibles use pressurized fluid from the surface to drive a hydraulic motor downhole, rather than an electric motor, and are used in heavy oil applications with heated water as the motive fluid.
The global submersible pumps market is projected to reach a size of INR 11550 Crores by 2025, at a CAGR of 6.7%, from an estimated INR 8350 crores in 2020. Increasing investments in construction industry attributing to rapid urbanization, and high demand for submersible pumps in the agricultural sector are the key factors driving the growth of the submersible pumps market. Investments in the construction industry are playing a vital role in the growth of the global and regional economies. It is expected that spending on capital projects and infrastructure will grow significantly in the next decade. Sufficient infrastructure investment is required for modernization and commercialization. In addition, increasing urbanization in emerging markets is expected to boost the investments in major sectors, such as water & wastewater treatment and power, which is consequently expected to drive the growth of the submersible pumps market.
Increase in count of urban population, and increasing industrialization are the factors that is expected to drive the submersible pumps market. Growing investments in infrastructure development is another factor that will foster the growth of the market. The increasing cases of Motor Failure & High cost of troubleshooting involved are key restraining factors that hampers the growth of the market. Increasing exploration activities related to deep water and increase in subsea operations are factors that will offer abundant growth opportunities to this market. Designing submersible pump which can operate for a pump intake excess air is a key market challenge faced by manufacturers and end-users.
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