Selbyville, Delaware, June 29, 2022 (GLOBE NEWSWIRE) —
Electric Submersible Pump Market is projected to generate USD 24 billion valuation by 2030, according to research analysis by Global Market Insights Inc. The increasing demand for energy-efficient & cost-effective submersible pumps along with rising concerns about the water crisis will positively stimulate the industry trends. Moreover, factors including the shortage of drinking and sanitary water will drive the business scenario over the forecast period.
Extraction of groundwater to fulfill the need to supply water for domestic & large applications is expected to boost the borewell segment growth.
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The Europe electric submersible pump market is estimated to surpass more than 6% through 2030. Ongoing product deployments across various application industries including agriculture, sewage & wastewater, and building services will foster the industry landscape. In addition, increasing reconstruction activities to develop old & aging wastewater treatment plants in the region to offer clean water for residential & agriculture applications is likely to offer lucrative growth opportunities.
Mounting energy demand in the commercial application including oil & gas, building services, and sewage water treatment is projected to increase the adoption of single-stage submersible pumps owing to their application potential in line with…
