Hydraulic Submersible Pumps - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Hydraulic Submersible Pumps market is growing at a CAGR of 6.2% during the forecast period. Some of the key factors propelling the market growth are steadily increasing demand owing to enhancing purchasing power and development in the construction industry. However, huge maintenance & operation costs are the restraining factor for the growth of the market.
Hydraulic submersible pumps (HSPs) are hydraulic turbine-driven downward hole pumps that were developed as an substitute to the further commonly used electric motor-driven submersible.
By application, oil & gas segment is likely to have a huge demand in the forecast period due to main areas where the hydraulic submersible pumps locate applications in the manufacturing sector are in the wastewater, sewage treatment & additional effluent management activities, draining out water from holes during mining & construction activities, dewatering purpose in case of flood and extra related calamities, given that reliable source of water to procedure industries that need continuous supply of water for operation and so on.
On the basis of geography, Asia Pacific is anticipated to have a huge demand during the forecast period due to increased population density in urban areas, resulting in a decline in water quality. The rise in urbanization has resulted in substantial increase in produced wastewater in the country. In order to address this problem, the Government of China had increased the regulation, as well as incentives, for the industrial sector to treat wastewater.
Some of the key players in Hydraulic Submersible Pumps Market include Active Engineering (QuaX Pumps), Atlas Copco, Cornell Pump, EBARA, Franklin Electric (Pioneer Pump), Gorman-Rupp , HYCON A / S, Hydra-Tech Pumps, JCB, Selwood, SPP Pumps, Stanley, TERAL, Thompson Pump, TSURUMI, Versa Pump and Xylem (Godwin Pumps).
• Ductile Iron
• Direct Sales
• Oil Field
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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