Submersible Pump Market Share

North American Market Forecast

The submersible pump market in North America is projected to be the largest with a share of about 35% by the end of 2037. The growth of the market can be attributed majorly to the increasing exploration of shale gas and other unconventional energy resources. According to the US Energy Information Administration (EIA), US dry natural gas production from shale deposits was approximately 28.5 trillion cubic feet (Tcf) in 2022, accounting for roughly eighty percent of total US dry natural gas production. Furthermore, the implementation of policies for oil and gas recovery is also expected to drive market growth in North America

APAC Market Statistics

The Asia Pacific submersible pump market is estimated to be the second largest, registering a share of about 28% by the end of 2037. The growth of the market can be attributed majorly to the rising government initiative to provide fresh water in rural regions. In 2019, the Indian government launched Mission Jal Jeevan to deliver water supply via pipes service to every household in rural India by 2024. The program focused on the establishment of water sources, and infrastructure, such as water treatment, point-of-entry water treatment systems, further followed by integration of capacity building, and involvement of the community.