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Submersible Pumps for Mining Sector Market 2019 Opportunities, Sales Revenue, Business Features by Forecast 2023

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The global submersible pumps for mining sector market is a very dynamic market and is expected to witness high growth over the forecast period. The growth of submersible pumps for mining sector market is influenced by growing urban population, rapid
Global Non-Volatile Memory Market Research Report: Forecast to 2023
Global Submersible Pumps for
Mining Sector Market Research
Report: Forecast to 2023
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Copyright © 2017 Market Research Future.
Global Non-Volatile Memory Market Research Report: Forecast to 2023
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Copyright © 2017 Market Research Future.
Global Non-Volatile Memory Market Research Report: Forecast to 2023
Summary
The global submersible pumps for mining sector market is a very dynamic market and is expected to
witness high growth over the forecast period. The growth of submersible pumps for mining sector market
is influenced by growing urban population, rapid industrialization, and huge investments for infrastructure
development in the region. Moreover, submersible pumps are waterproof and prevent leakage of the liquid
or electric charge when the pumps are immersed in liquid. Additionally, these pumps do not need extra
space or utility room for their existence and can be immersed deeper in the liquid unlike any other pumps.
Whereas, high cost of the submersible pumps & other substitute pumps, act as a major restraint for the
growth of the market.
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.
Submersible pumps in the mining sector are used for water procurement, dewatering, and distribution.
Regulation of water is one of the most common problems in the mining industry due to mine dewatering
practices are compulsory for the prevention of hazards. Submersible pumps are leveraged to remove
unnecessary water, which generates substantial demand within the market. Rapid industrialization across
the globe has accelerated mining and exploration activities across the globe, which has fostered the growth
of the submersible pumps for the mining sector.
Product development by market players along with the expansion of existing product lines has made
submersible pumps available in various designs as well as diverse configurations which can withstand
extreme conditions have further boosted the growth of the market. Moreover, manufacturers are
increasingly developing energy efficient, reliable pumping stations which adhere to environmental
standards and regulations generate further demand within the market.
Contrarily, the market growth might be hindered by the high cost of submersible pumps, high cost of motor
failure and troubleshooting, and the availability of substitutes.
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Global Non-Volatile Memory Market Research Report: Forecast to 2023
Market Segmentation
The submersible pumps for mining sector market has been segmented based on well type, pump stage, and power
ratings.
By well type, the submersible pumps for mining sector has been segmented into bore well and open well. The bore
well segment dominated the market in 2016 with a share of 65.9% and is estimated to expand at a CAGR of 5.38%
over the forecast period.
By pump stage, the submersible pumps for mining sector has been segmented into multistage and single stage. The
multistage segment accounts for the foremost share of the market and is likely to expand at a CAGR of 5.51% over
the forecast period.
By power ratings, the submersible pumps for mining sector has been segmented into high power, low power, and
medium power. The high-power segment is the largest segment and is expected to capture the highest CAGR of
5.66% over the forecast period.
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Copyright © 2017 Market Research Future.
Global Non-Volatile Memory Market Research Report: Forecast to 2023
Regional Analysis
Region-wise, the submersible pumps for mining sector market has been segmented into North America,
Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
The APAC is the largest submersible pumps for mining sector market and is likely to dominate the global
market throughout the forecast period. The market growth can be credited to the continuous demand
generated by the mining and sludge treatments sector. Fast track industrialization has further supported the
growth of the mining industry, which has further boosted the growth of the market. In 2016, China held
the largest share of 33.59% of the market, with a valuation of USD 208.6 Mn. China is projected to capture
the highest CAGR of 6.41% over the forecast period. Furthermore, the economic upturn in the emerging
economies of the region has greatly influenced the growth of the mining industry in the region, which has
favored the growth of the APAC submersible pumps for mining sector market.
The market growth in the developed regions such as North America and Europe is not as impressive as in
the emerging economies, although these markets account for a significant share of the market.
Competitive Landscape
Sulzer Ltd (Switzerland), Xylem Inc. (U.S.), Ebara Corporation (Japan), The Weir Group Plc. (Scotland),
Atlas Copco AB (Sweden), The Gorman-Rupp Company (U.S.), KSB Aktiengesellschaft (Germany),
Tsurumi Manufacturing Co., Ltd (Japan), Grundfos Group (Demark), and Flowserve Corporation (U.S.)
are the notable players in the global submersible pumps for mining sector market.
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Global Non-Volatile Memory Market Research Report: Forecast to 2023
owned company based in Norway that has developed a field-proven portfolio of completion systems and intervention tools.
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Copyright © 2017 Market Research Future.
Author
dhanashree.pawar
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