Market Trends of Europe Asia Submerged Pump Industry
Water and Wastewater is Expected to be a Significant Segment
- It is essential to ensure that wastewater treatment plants operate at maximum efficiency as they perform an essential function for the communities they serve. Reliable submerged pumps can help avoid unexpected downtime and can provide added protection for environmental discharge. They are the most practical solutions for small towns and large cities across Europe and Asia, generating strong demand for the submerged pump market.
- Submersible pumps are used to drain fluids in wastewater treatment plants. They are placed directly in the water or the slurry to provide pumping power for removing fluids from a particular area.
- Submersible pumps offer key advantages that include lower costs than dry-well stations and the ability to operate without frequent pump maintenance in Wastewater treatment plants. In addition, submersible pump stations usually do not require large aboveground structures and easily blend in with the surrounding environment in residential areas.
- In June 2023, the European Union announced its decision to sue Italy for its failure to maintain the urban wastewater treatment standards properly and cope with them. As per the European Union, Italy was unable to treat its wastewater fully from urban, residential, and commercial areas, leading to the discharge of untreated wastewater into water bodies. To manage this, numerous major pump manufacturing companies in Italy undertook expansive decisions that are in progress in the country.
- For instance, in August 2023, SKF Lubrication Systems Germany GmbH (SKF), a subsidiary of SKF Group, signed an agreement with EBARA Pumps Europe SpA (EPE), a group company of Ebara Corporation (EBARA). Both are major manufacturers of submersible pumps used in wastewater treatment facilities, where Ebara will take over the latter鈥檚 businesses in Europe. They play a crucial role in wastewater treatment facilities worldwide, thus helping municipalities.
- In February 2023, Landia Pumps from Denmark provided 17 pumps for a new water and wastewater treatment plant in Northeast China for the new facility in Shandong province, which included submersible pumps for handling heavily contaminated liquids, as well as liquids with a high dry matter content.
- In 2023, wastewater utilities in the United Kingdom treated 16.5 million liters of wastewater, showing the importance of submerged pumps in the market in Europe and Asia.
- In the coming years, with the increasing number of wastewater treatment plants, the demand for submerged pumps is expected to increase in Europe.
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China is Expected to Dominate the Market
- China is witnessing an increase in industrial activities, thereby increasing the demand for crude oil, natural gas, and chemicals, among others. China has been an essential growth driver for the manufacturing sector worldwide. The country is the leader in the mining and construction industries and is one of the top oil and gas players.
- China is in a growing phase, and the high population growth rate has led to an increased requirement for water supply and wastewater treatment to supply water apart from the demand from the oil and gas industry.
- Submerged pumps have been actively used in underground water extraction in China, thus translating into an increase in demand for submersible water pumps.
- China targets to boost domestic production of unconventional sources like shale gas. It is also estimated that China's shale oil production may reach around 280 billion cubic meters (bcm) by 2035. In January 2024, CNOOC announced total capital expenditure in the range of USD 17.6 billion to USD 19 billion, with targeted net production of 700 million to 720 million barrels of oil equivalent (Mboe) in 2024.
- According to the Energy Institute Statistical Review of World Energy 2024 data, oil production was constantly high in China, increasing by 2.1% in 2023 compared to 2022.
- Thus, China is expected to dominate the market during the forecast period.
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