Global Submersible Pumps Market (2020-2025) – Growth, Trends, COVID-19 Impact, and Forecasts
Latest report “Submersible Pumps Market by Type (Electric, Hydraulic, Air-Driven), Application (Open Pit, Borewell), Operation (Single-stage, Multi-stage), Power Rating (<1, 1-5, 5-15, >15 HP), Sector (Industrial, Agricultural, Domestic), Region – Global Forecasts to 2025”
The submersible pumps market size will grow to USD 15.5 billion by 2025 (forecast year) from USD...
High Demand in the Agricultural Sector Expected to Drive the Growth of Submersible Pumps Market
The submersible pumps market is projected to reach USD 15.5 billion by 2025 from an estimated USD 11.2 billion in 2020, at a CAGR of 6.7% during the forecast period. High demand for submersible pumps in agricultural sector, and increasing investments in construction industry attributing to rapid urbanization are the key factors driving the growth of the submersible pumps market. Likewise, adoption...