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Tethered Manned Submersible Market

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The research report on Tethered Manned Submersible Market is segmented by product type, operation, applications, power ratings, pump head, and region - Size, Share, Outlook, and Opportunity Analysis, 2018-2026
Tethered Manned Submersible Market - Size, Share,
Outlook, and Opportunity Analysis, 2018-2026
Tethered submersible pump is a pumping equipment used for the extracting different
types of fluid such as water and crude oil, which is further sent to the various
end-use industries such automotive, oil & gas, and mining, however, is highly
preferred for agricultural and industrial applications. Submersible pump is vertically
submerged under the fluid to be transported (such as water) and is driven by electric
current, operating on the principle of centrifugal force.
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The increasing number of the construction activities across the world is one of the
major factors driving the growth of the market. Increasing urbanization across the
world, is further increases the development of infrastructural activities across the
world. For instance, according to the WorldBank.org the urban population in 2014
was 53.8% of global population, which reached up to 54.3%, globally. Development
in Infrastructure results in increased construction activities, which eventually creates
a demand for tethered manned submersible pump in order to extract water from the
surface, further creating new sources of water for the residential, industrial, and
commercial purposes.
This in turn, is expected to propel growth of the tethered manned submersible
market over the forecast period. Moreover, increasing government investments in
infrastructure development is another factor fostering growth of the market. For
instance, in January 2016, according to the press release of financier worldwide
magazine, between US$ 700 billion and US$ 800 billion is invested in infrastructure
development worldwide each year, of which around US$ 550 billion is invested in
emerging economies. Therefore, increasing infrastructure development is expected
to increase the demand for tethered manned submersible pumps for extracting oil
and water from the surface, which in turn helps meet the increasing demand for
water and oil across the world. Hence, all these factors help boost growth of the
global tethered manned submersible pump market.
High cost associated with maintenance of tethered manned submersible
pumps is one of the major factors restraining growth of the market
The high cost involved in maintenance of tethered manned submersible pumps is
one of the major factors restraining growth of the market. Moreover, while extracting
fluid from the surface, the motor of the pump fails to operate optimally, which poses
as a restraint. Additionally, the cost of repairing is based on the type of pump. For
instance, according to Coherent Market Insights analysis, the average cost to repair
a sump pump is US$ 485. The final price could range between US$ 110 and US$
1,000, depending on the extent of the service. Homeowners pay between US$ 293
and US$ 684 for repairs on an average. This factor in turn, is hampering growth of
the tethered manned submersible market size.
Global Tethered Manned Submersible Market: Regional Insights
On the basis of region, the global tethered manned submersible market is
segmented into North America, Europe, Asia-Pacific, Latin America, Middle East,
and Africa. Asia Pacific accounted for the largest market share in 2017 and is
expected to retain its dominance during the forecasted period. Major factors that
attribute to this growth include rapid urbanization and industrialization in emerging
economies such as China and India, which are experiencing increased investments
on housing, road network, urban transport, water supply, power-related
infrastructures, smart cities, and other forms of urban management. For instance, a
white paper released by Government Technology under the name, “Evolution of
Smart Cities and Connected Communities”, co-sponsored by the United Parcel
Service (UPS) and the Consumer Technology Association reported development of
around 600 smart city projects in India and around 285 similar projects in China.
Therefore, increasing urbanization is expected to significantly increase the demand
for infrastructural development and residential facilities, which in turn, is expected to
boost demand for tethered manned submersible pumps. This factor will help fuel
growth of the market in Asia Pacific.
Global Tethered Manned Submersible Market: Competitive Landscape
Major players operating in the global tethered manned submersible market include
Baker Hughes, General Electric, Grundfos Pumps India Private Ltd., Halliburton,
Schlumberger Ltd, Borets International Ltd, Ebara Corporation, Falcon Pump,
Walrus America, WILO SE, and Xylem, Inc.
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Author
apeksha motghare
apeksha motghare533   documents Email
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