Submersible Pumps for Mining Sector Market is projected to grow at the highest CAGR of 5.66%, during the forecast period up 2023
Dec 14, 2018
Global Submersible Pumps for Mining Sector Market Information, By Well Type (Open Well and Bore Well), By Pump Stage (Single Stage and Multi stage), by Power Ratings (High Power, Medium Power, Low power)
Global Submersible Pumps for Mining Sector Market Information, By Well Type (Open Well and Bore Well), By Pump Stage (Single Stage and Multi stage), by Power Ratings (High Power, Medium Power, Low power) and Region - Forecast To 2023, India - December 13, 2018 /MarketersMedia/ —
The Global Submersible Pumps for Mining Sector Market is very dynamic and is expected to witness high growth over the forecast period. The development of new and diversified technologies, is creating exciting opportunities within the mining sector. Submersible pumps for mining sector market is one of the fastest growing markets, owing to its increased application in dewatering mines. Submersible pumps are the ideal solution for dewatering mines as well as they perform noiseless and energy efficient operation, thus driving the market. However, submersible pumps for mining sector market has restraints such as the high cost of these pumps, substitute pumps, and the high costs of submersible motor failure & troubleshooting.
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The new trends being witnessed are research and development with focus on advantageous locations for production, and short-distance supply to reduce costs. Submersible pumps for mining sector market is expected to be promising during the forecast period due to the major driving factors such as Ideal solution for dewatering mines, and noiseless and energy efficient operation activities driving the market.
The submersible pumps for mining sector market is undergoing various changes with the evolving customer expectations, acceleration of technological innovation, and shifts in competitive power. Increasing number of funding commitments for the commercialization and development of refuelling infrastructure, will also be contributing growth for the market in the years to come. The global Submersible pumps for mining sector market has been segmented, based on Well Type, Pump Stage, Power Ratings and region.
On the basis of well type, bore well segment dominates the global submersible pumps for mining sector market with a share of 65.9% in 2016, and expected to grow at a CAGR of 5.38% during the forecast period.
On the basis of pump stage, multi stage segment accounted for the largest market share with a CAGR of 5.51% during the forecast period.
On the basis of power ratings, high power segment accounted for the largest market share and is projected to grow at the highest CAGR of 5.66%, during the forecast period
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Market Research Analysis:
The development of new and diversified technologies, is creating exciting opportunities within the mining industry. Global demand for submersible pumps is increasing due to infrastructural development activities worldwide. Submersible centrifugal pumps with an electric drive is another type of pump used in oil production and vertical pumping of water. Submersible pumps with hydraulic drive and piston type, are also used in some countries. Ever increasing energy demand, increasing offshore new exploration, and production activities,
increase investments in oil and gas industry and growth in agriculture and other industries, are driving the market. However, environmental issues and costs associated with operations are restraining the growth market. In terms of geographic regions,
APAC will have the highest contribution to the submersible pump market during the forecast period. The region’s lead in the market is attributed to the major factors such as rapid urbanization, industrialization, and the major developing economies including China and India.
Key Players
The key players of global Submersible pumps for mining sector market includes Xylem Inc. (U.S.), Grundfos Group (Demark), KSB Aktiengesellschaft (Germany), Sulzer Ltd (Switzerland), Ebara Corporation (Japan), Atlas Copco AB (Sweden), Flowserve Corporation (U.S.), The Weir Group Plc. (Scotland), Tsurumi Manufacturing Co., Ltd (Japan) and The Gorman-Rupp Company (U.S.).
The submersible pump industry is relatively fragmented with the presence of a large number of manufacturers across the globe. Organized market players are found to have been advancing towards mergers and acquisitions, to expand their global footprint in the global submersible pumps market.
Table Of Content:
5 Market Factor Analysis
5.1 Porter’s Five Forces Analysis 24
5.2 Porter’s Five Forces Analysis 24
5.2.1 Threat of New Entrants 24
5.2.2 Bargaining Power of Suppliers 25
5.2.3 Bargaining Power of Buyers 25
5.2.4 Threat of Substitutes 25
5.2.5 Competitive Rivalry 25
5.3 Value Chain Analysis: 26
5.3.1 Raw Material Supply 26
5.3.2 Pump Manufacture 26
5.3.3 Distribution 26
5.3.4 End-Use 27
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List of Table:
List TABLE 1 MARKET SYNOPSIS 14
TABLE 2 GLOBAL SUBMERSIBLE PUMPS FOR MINING SECTOR MARKET, BY WELL TYPE, 2015-2023 (USD MILLION) 30
TABLE 3 GLOBAL SUBMERSIBLE PUMPS FOR MINING SECTOR MARKET, BY PUMP STAGE, 2015-2023 (USD MILLION) 33
TABLE 4 GLOBAL SUBMERSIBLE PUMPS FOR MINING SECTOR MARKET, BY POWER RATINGS, 2015-2023 (USD MILLION) 36
TABLE 5 ASIA-PACIFIC: GLOBAL SUBMERSIBLE PUMPS FOR MINING SECTOR MARKET, BY COUNTRY, 2015-2023 (USD MILLION) 41
TABLE 6 ASIA-PACIFIC: GLOBAL SUBMERSIBLE PUMPS FOR MINING SECTOR MARKET, BY WELL TYPE, 2015-2023 (USD MILLION) 42
TABLE 7 ASIA-PACIFIC: GLOBAL SUBMERSIBLE PUMPS FOR MINING SECTOR MARKET, BY PUMP STAGE, 2015-2023 (USD MILLION) 42
TABLE 8 ASIA-PACIFIC: GLOBAL SUBMERSIBLE PUMPS FOR MINING SECTOR MARKET, BY POWER RATINGS, 2015-2023 (USD MILLION) 43
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