Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Submersible Pump Market size was valued at USD 11.9 billion in 2024 and is estimated to reach USD 21.2 billion by the end of 2037, rising at a CAGR of 6.3% during the forecast period from, 2025-2037. In 2025, The industry size of submersible pumps is estimated at USD 13.1 billion.
The expansion of the water infrastructure and innovations in agricultural irrigation technologies are estimated to fuel the global sales of submersible pumps. The rising agricultural activities and rural electrification trends are set to augment the demand for submersible pumps in the coming years. The swift urban growth worldwide is driving heavy investments in municipal water management. As per the analysis by the U.S. Geological Survey (USGS), groundwater withdrawals capture more than 24.5% of all freshwater use. The need for fresh water is directly fueling the sales of advanced submersible pumps. Moreover, government subsidies and public-private investments in water infrastructure are poised to promote the adoption of next-gen submersible pumps during the foreseeable period.
The raw material supply potentially influences the production and commercialization of submersible pumps. The U.S. Bureau of Labor Statistics (BLS) study estimates that the producer price index for pump and compressor manufacturing grew by 4.9% YoY in 2024. While the consumer price index for water supply and sewage maintenance registered a 3.7% annual growth. The investment in domestic production capacity is likely to drive innovations in the submersible pumps. The automation trend and smart manufacturing practices are also estimated to boost the global submersible pump market.
