Hydraulic Submersible Pumps Market Size & Share, by Product (Aluminum, Ductile Iron); Impeller (Stainless Steel, Alloy), Application (Industrial, Commercial, Municipal, Dewatering, Agricultural) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

Growth Drivers

• Huge Demand for Hydraulic Submersible Pumps in Municipalities and Water Management Projects to Boost the Market Growth - According to the United Nations, wastewater treatment plays a major role in meeting the growing demand for water in rapidly expanding cities and in supporting sustainable agriculture. The statistics also stated that 80% of wastewater around the world flowed back into the ecosystem without being treated or reused.
  
  A significant rise in infrastructural developments and urban industrialization globally has resulted in a substantial increase in the requirement of clean and quality water resources by industrial as well as for residential usage, which is raising the need for the deployment of hydraulic submersible pumps. Additionally, on account of rising waste and sewage water, the municipalities are laying emphasis on increasing the capacities of sewage water treatment and drinking water treatment plants. Furthermore, increasing number of deep-water exploration and irrigation activities, strict regulations for wastewater treatment across industries coupled with the government support in several countries is anticipated to significantly expand the hydraulic submersible pumps market. 
• Flexibility in the Mechanical Characteristics of Hydraulic Submersible Pumps to Drive the Market Growth -The hydraulic submersible pumps help in providing maximum efficiency in pumping different types of materials and are hence widely used to meet various applications such as sewage bypass. Furthermore, this pump is designed to fit through large size manholes and have no suction limitations. They are also well suited for applications where electricity is hazardous and thus are more efficient than constant-speed, generator-driven electric submersibles. Such factors are anticipated to drive the growth of the global hydraulic submersible pump market over the forecast period.

Challenges

• High Maintenance and Operation Costs of Hydraulic Submersible Pumps - Despite the advancing technology in pumps, high maintenance and operation costs associated with hydraulic submersible pumps may negatively affect the market growth. Further, there is also a large replacement cost involved in case of motor failure when compared to the conventional ones which is estimated to hinder the growth of the global hydraulic submersible pumps market in the future.