Global Market for Sump and Submersible Pumps to Reach $3.3 Billion by 2023

Industrial Activity, Demand for Higher-Efficiency Pumps and Increased Upgrades Drive Growth

March 05, 2019

WELLESLEY, Mass., March 05, 2019 – A new report from BCC Research, “Sump and Submersible Pumps: Global Markets to 2023,” estimates that by 2023, the market will reach $3.3 billion, up from $2.4 billion in 2018, indicating a compound annual growth rate (CAGR) of 6.6%.

Sump and submersible pumps are crucial in preventing residences and commercial institutions from flooding and managing water, storm water, key process fluids, chemicals and industrial slurries.

Top sump and submersible pump manufacturers include: AMT Pump Co., Flotec, and Shijiazhuang Tech-Macro Pump.

Report Highlights

• Market barriers. Uncertainties that could increase market volatility include shifting dynamics in several Asian countries with respect to industrial, commercial and residential demand, China’s economic transition from a focus on exports toward supporting increased domestic demand, and the predicted growth of emerging Asian economies.
• Market segment analysis. The market’s sewage, slurry and industrial fluid management segment will see more growth than the clear water management application segment, growing from $1.2 billion in 2018 to $1.7 billion in 2023. The clean water segment is projected to grow from $1.3 billion in 2018 to $1.6 billion by 2023.
• Global market analysis. Asia leads the global sump and submersible market with a total regional market value of $916 million in 2018, and will continue to advance rapidly through 2023, to $1.3 billion.

“Sump and submersible pumps function across these diverse markets, and trends for their demand are similarly driven by factors affecting these diverse markets. Today, global sump pump sales are being driven by a resurgence of industrial activity in the U.S. and much of Europe, new housing starts in these same areas, retrofit and upgrading of aging pump systems, and demand for higher-efficiency pump systems in select market segments,” said BCC analyst Robert Eckard.

How the European Market Compares

Although Europe produces more pumps than any other region, it holds the smallest share of the sump and submersible pump market compared to North America and Asia. The European market was valued at $229.1 million in 2018 and is expected to advance to $285.1 million in 2023, for a 2018 to 2023 CAGR of 4.5%.

Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com.

Sump and Submersible Pumps: Global Markets to 2023( MST064A )
Publish Date: Feb 2019    

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