Global Submersible Pumps Market Size, Share, Growth and Trend Analysis Report, 2032

Summary
Market Landscape
Methodology
Table of Contents

Global Submersible Pumps Market Size, Share & Growth and Trend Analysis Report, By Well Type (Bore Well and Open Well), By Operation (Multi-Stage, and Single Stage), By Power Rating (High Power, Medium Power, and Low Power), By Industry (Water & Wastewater, Oil & Gas, Agriculture & Irrigation, Construction, Mining, and Others), and By Region (Asia Pacific, Europe, North America, Latin America and Middle East & Africa) and Forecasts 2025 – 2032.

Submersible Pump is a pump designed to operate while submerged in the liquid it pumps. It uses a sealed motor to push fluid to the surface, commonly used for drainage, sewage treatment, and water extraction.

The Global Submersible Pumps Market was valued at approximately USD XX billion in 2024. It is projected to grow to USD XX billion by 2032, with an estimated compound annual growth rate (CAGR) of around 5% from 2025 to 2032.

Industry Trends

The submersible pump market is evolving with innovations in materials, design, and technology to improve efficiency, durability, and energy consumption. Advances in motor technology for electric submersible pumps and materials like corrosion-resistant alloys are enhancing pump performance in challenging environments such as wastewater treatment, mining, and irrigation.

Sustainability is becoming a key focus, with increasing demand for energy-efficient electrical submersible pumps that reduce environmental impact and lower operational costs. Integration of smart technology, such as IoT sensors and monitoring systems, is improving electric submersible pump performance, enabling predictive maintenance, and enhancing operational efficiency.

As industries look for solutions to optimize energy consumption and minimize downtime, submersible pump manufacturers are incorporating advanced automation and control systems into their products.

However, challenges persist in managing operational costs and meeting stringent environmental regulations. Opportunities lie in the growing demand for energy-efficient, smart, and sustainable submersible pump solutions that align with global sustainability goals and improve long-term performance.

Industry Expert's Opinion:

Kyle Johnson, Products manager, Minetuff Pumps

“Now, when deep wells or space limitations require a submersible solution, Pioneer Pump has you covered. Like all Pioneer Pump products, the Minetuff series performs in demanding applications and harsh environments, from mines to construction sites”

TT Consultants’ Perspective

The submersible pump industry is experiencing significant growth, driven by increasing demand for efficient water management systems across agriculture, mining, and municipal water supply. Companies are focusing on developing energy-efficient electric submersible pumps with advanced materials and digital technologies to enhance operational reliability.

Innovations in electric submersible pump technology, including smart connectivity and corrosion-resistant materials, are enabling superior performance in challenging environments. As demand grows for reliable pumping systems, manufacturers are expanding portfolios with solutions like agitator pumps and forming strategic alliances to enhance capabilities.

Collaboration across the global submersible pumps market is accelerating advancements, ensuring continued growth and innovation. The market is poised for expansion, supported by the forecast of increasing infrastructure development and water management needs worldwide.

Market Segmentation

1. By Well Type (Bore Well and Open Well)

The electric submersible pump market is segmented based on well types, with bore well pumps holding the largest market share of XX% in 2024 due to their widespread use in deep water extraction for agricultural, industrial, and residential applications. Bore well electric submersible pumps are ideal for deep wells, offering higher efficiency and performance when extracting water from significant depths.

These pumps are widely favored for their ability to handle high-pressure applications and large volumes of water. The open well pump segment is also growing, driven by its usage in shallow water extraction. Open well electrical submersible pumps are often used in agricultural irrigation, domestic water supply, and wastewater treatment, particularly in regions with shallow water tables. These pumps are cost-effective and well-suited for environments where deep well pumps are not required.

2. By Operation (Multi-Stage, and Single Stage)

The submersible pump market is segmented based on operation type, with multi-stage pumps holding the largest market share of XX% in 2024. Multi-stage electric submersible pumps are designed for high-pressure and deep well applications, providing consistent water supply across various sectors such as agriculture, industrial, and municipal water systems.

The single-stage pump segment is also growing with a CAGR of XX%, driven by its cost-effectiveness and simpler design, making it ideal for applications in low to medium-depth wells. Single-stage electric submersible pumps are widely used in residential, irrigation, and light industrial applications.

These pumps offer reliable and efficient performance for shallow water extraction and are becoming increasingly popular due to their lower maintenance costs and ease of installation.

3. By Power Rating (High Power, Medium Power, and Low Power)

In the submersible pump market, high power electrical submersible pump systems held the largest market share of XX% in 2024. High power submersible pumps are typically used in demanding industrial, municipal, and large-scale agricultural applications where high flow rates and deepwater lifting are required. These pumps are designed for heavy-duty use, providing reliable performance in large-scale water extraction, sewage treatment, and flood control projects.

The medium power pump segment is also experiencing rapid growth, driven by its versatility in medium-depth wells and its application in both residential and industrial sectors. Medium power pumps are ideal for urban water supply, irrigation systems, and wastewater management.

Low power pumps are commonly used in smaller residential and agricultural applications, where energy-efficient, cost-effective solutions are required for shallow water pumping. These pumps are ideal for light-duty use, including garden irrigation and small-scale water supply needs.

Competitive Scenario

The global submersible pumps market is led by key players such as Xylem (US), KSB Group (Germany), Flowserve Corporation (US), and EBARA CORPORATION (Japan), who dominate with a wide range of pumps catering to water supply, wastewater management, and industrial applications.

Other significant players, including Tsurumi Manufacturing Co. Ltd. (Japan), The Gorman-Rupp Company (US), Atlas Copco AB (Sweden), and The Weir Group PLC (UK), focus on energy-efficient, high-performance solutions for dewatering, sewage, and heavy-duty pumping needs.

As demand for reliable and sustainable pumping solutions grows, companies are investing in smart technology, IoT-enabled pumps, and forming strategic partnerships to expand their offerings and stay competitive in a rapidly evolving market.

Recent Developments and Strategic Activities:

In January 2025, Franklin Electric, through its Pioneer Pump brand, launched its Minetuff series of electric submersible pumps at the Water Environment Federation’s Technical Exhibition and Conference in the US. This marks the company’s debut in the electric submersible pump market.
In December 2024, Latteys Industries Limited Achieves Significant Milestones in 2024, Strengthening Its Leadership in Solar Submersible Pumps.
In November 2024, Gilbarco Veeder-Root (GVR), a Vontier Corp business, has secured a USD 15 million tender with Indian Oil Corporation (IOCL) for Veeder-Root branded Red Jacket submersible turbine pumps used in fuel tanks to pump fuel.
In February 2023, Atlas Copco introduced a versatile line of electric surface self-priming dewatering pumps, available in canopy and open set layouts. The E-Pump series is ideal for applications like sewage bypass, municipal projects, and construction sites with electricity access. With digital connectivity, E-Pumps efficiently handle challenging flows and large solids, offering a lower Total Cost of Ownership (TCO) and zero carbon emissions during operation.
In February 2023, the KSB Group unveiled a new line of submersible borewell pumps, expanding their range with the UPA S 250 pump series. Designed for a variety of applications, the series is ideal for general pressure boosting, agriculture, mine dewatering, groundwater management, and water delivery.