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2 ASIA-PACIFIC SUBMERSIBLE PUMP MARKET BY TYPE (BOREWELL & OPENWELL), BY INDUSTRY (CHEMICAL, CONSTRUCTION, ENERGY AND POWER, WATER AND SEWAGE, AND OTHERS), BY APPLICATION (INDUSTRIAL, AGRICULTURE, AND DOMESTIC), AND BY COUNTRY TRENDS AND FORECASTS TO 2019 It s all about markets MARKETSANDMARKETS sales@marketsandmarkets.com

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4 1 EXECUTIVE SUMMARY Submersible pumps have a variety of applications, ranging from domestic to municipal sectors. Singlestage pumps are used for drainage, sewage pumping, general industrial pumping, and slurry pumping. The multiple stage submersible pumps are typically lowered down a borehole, and are primarily used for residential, commercial, municipal, and industrial water extraction (abstraction), water wells, and in oil wells. The submersible pumps market is driven by factors such as increase in urbanization, deepwater exploration activities, and decline in fresh water resources among others. Population growth is the parent factor, which influences these dynamics, and in turn, increases the demand for submersible pumps Submersible pumps are required in most fluid-related industrial processes. It plays an important role in industries such as refineries, pharmaceuticals, food & beverage, and chemical among others. The use of fluids can be seen across a variety of applications, from the production of wheat in the food sector, to extraction of minerals in the mining sector. The demand for submersible pumps from the industrial sector is expected to grow at the highest CAGR of % during the forecast period. Growing industrialization in the Asia-Pacific region is a major factor that drives demands. The Asia-Pacific submersible pumps market is also driven by a perennial demand for energy, substantiated by the usage of hydrocarbons resources. Intensive measures have been taken by key E&P players to improve production capacities in Asia-Pacific. In response to the rising regional and domestic demand for crude oil and oil products, Indonesia and Malaysia have invested in increasing their refining and storage capacities, and in turn, created a regional hub for oil storage and trading. The following figure shows the producing well count by country. It is estimated that submersible pump wells are due for replacement in this region, which is likely to increase the submersible pumps market in Asia- Pacific. 2

5 FIGURE 1 ASIA-PACIFIC WELL COUNT, 2013 Asia-Pacific China : India : Australia : Indonesia : Thailand : Malaysia : Philippines : *Wells count as of Dec 2013 Source: Secondary Research and MarketsandMarkets Analysis FIGURE 2 SNAPSHOT: INDUSTRIAL APPLICATION MARKET IS EXPECTED TO GROW AT THE FASTEST RATE DURING THE FORECAST PERIOD CAGR % Source: Investor Presentations, Expert Interviews, and MarketsandMarkets Analysis 3

6 The Asia-Pacific submersible pumps market was valued at $ million in 2013, and is estimated to reach a value of $ million by 2019, from $ million in 2014, at a CAGR of % during the forecast period. Requirement for enhanced production in mature fields across the region, increasing production activities in deepwater exploration, and growing urbanization will drive the growth of the submersible pumps market. The industrial segment commanded the highest market share of submersible pumps demands in 2013, followed by agriculture. The industrial market was valued at $ million in 2013, and is estimated to grow to $ million by 2019, maintaining its pre-eminent position in the submersible pumps market. FIGURE 3 CHINA DOMINATED THE SUBMERSIBLE PUMPS MARKET IN 2013 INDIA Market Share = CAGR = CHINA Market Share = CAGR = JAPAN Market Share = CAGR = INDONESIA Market Share = CAGR = AUSTRALIA Market Share = CAGR = Source: Secondary Research and MarketsandMarkets Analysis China accounted for the largest share (%) in 2013 of the total Asia-Pacific submersible pumps market, largely on the back of deepwater exploration & production activities and growing population. The country is also projected to record the highest growth rate during the forecast period, at a CAGR of %. India was the second-largest market with a % share in 2013; its growth driven by an increasing urbanized population and industrialization. Indonesia is projected to exhibit a growth rate of % from 2014 to 2019, as a result of rising regional and domestic demand for crude oil and oil products. 4

7 FIGURE 4 NATIONAL OILWELL VARCO IS THE MOST ACTIVE IN SIGNING MERGERS & ACQUISITIONS, % % % Source: Annual Reports, Press Releases, Investor Presentations, Expert Interviews, and MarketsandMarkets Analysis Mergers & acquisitions have been the most preferred growth strategy adopted by important players in the submersible pumps market in the past three years, accounting for % of the total developments. National Oilwell Varco accounted for % each of all M&As witnessed in the submersible pumps market between 2010 and Baker Hughes & Atlas Copco accounted for % of all M&As signed during the same period. Companies used contracts, agreements, partnerships, collaborations, and joint ventures to create synergies, enter new markets, gain access to innovative technologies, and neutralize competition. Key participants in the submersible pumps market include, Schlumberger Ltd. (U.S.), Weatherford International Ltd. (Switzerland), Halliburton (U.S.), Weatherford International (Switzerland) Grundfos Group (Denmark), and KSB Group (Germany). 5

8 2 PREMIUM INSIGHTS The Asia-Pacific submersible pumps market is expected to grow at a steady rate (nearly % CAGR), with China estimated to account for the largest share of % by 2019; whereas the industrial application market share is projected to increase to % by FIGURE 5 ATTRACTIVE MARKET OPPORTUNITIES IN THE ASIA-PACIFIC SUBMERSIBLE PUMPS MARKET ATTRACTIVE MARKET OPPORTUNITY The Asia-Pacific ESP market is estimated to reach a value of $ million by 2019, from $ million in 2014, an increase of $ million Market growth is attributed to growing industrialization and construction projects in China and India Increasing demand due to oil export Regional expansion in emerging markets and deepwater drilling activities offer lucrative opportunities for market players for the next five years Source: Secondary Research and MarketsandMarkets Analysis 2.1 CHINA & INDIA: FASTEST GROWING SUBMERSIBLE PUMPS MARKETS DURING THE FORECAST PERIOD China is currently leading the submersible pumps market. It held a market share of around % in The country s growth would be due to rising oil production activities in areas such as Bohai Bay region in the Yellow Sea, the South China Sea (particularly the Pearl River Mouth Basin), and the East China Sea. Most of these fields are small and likely to mature faster than its onshore fields, which need submersible pumps to explore deepwater activities. This resulted in China accounting for the largest market in Asia- Pacific. 6

9 2.2 ASIA-PACIFIC SUBMERSIBLE PUMPS MARKET, BY APPLICATION The industrial application was in demand for industrialization, construction, and deepwater exploration and production activities in Asia-Pacific. The increase in the number of mature fields and the growing construction industry drive the demand for these two variants in the market. The figure below shows the CAGR of different applications, in terms of usage, of submersible pumps. FIGURE 6 INDUSTRIAL APPLICATION TO GROW AT A HIGHER RATE IN THE SUBMERSIBLE PUMPS MARKET CAGR Industrial Agriculture Domestic Source: Secondary Research and MarketsandMarkets Analysis 7

10 2.3 LIFE CYCLE ANALYSIS, BY COUNTRY FIGURE 7 INDIA WAS THE SECOND-FASTEST GROWING MARKET IN 2013 Source: Secondary Research and MarketsandMarkets Analysis China accounted for the major share of the Asia-Pacific s submersible pumps market, followed by India in The Chinese market is well-established and is in its maturity phase. The Indian market is expected to register the second-highest growth rate of % during the forecast period. The submersible pumps market in Indonesia is estimated to grow at a CAGR of % from 2014 to 2019, as more exploration and production activities are expected in this region. Recent deepwater exploration and production activities in China and Indonesia are driving the submersible pumps market of Asia-Pacific. Thailand and Japan are projected to grow at CAGRs of % and % during the forecast period, respectively. 8

11 3 MARKET OVERVIEW 3.1 MARKET EVOLUTION FIGURE 8 SUBMERSIBLE PUMPS INCREASINGLY BECOMING A PART OF OIL WELLS & WATER WELLS Pre- 1990s Late 1990s 2000s and Beyond Source: Secondary Research and MarketsandMarkets Analysis In the mid-1960s, the first fully submersible deep-well water pump was developed. It was mostly used for water extraction in water and oil wells. In the 21st century, submersible pumps are becoming an important part of integrated services offered by leading oilfield service companies across the globe. Submersible pump systems provide flexibility over a range of output and output flow capacities. Its offerings combine technologies across different processes and stages of production to achieve the goal of production optimization and higher capital returns. 3.2 MARKET SEGMENTATION The submersible pumps market has been segmented on the basis of industry, application, and country to provide an in-depth view of the market. All the important submersible pumps industries and applications have been covered, along with their country wise market scenario. FIGURE 9 MARKET SEGMENTATION OF SUBMERSIBLE PUMPS SUBMERSIBLE PUMP MARKET By Industry By Application By Country Source: Secondary Research and MarketsandMarkets Analysis 9

12 3.2.1 BY INDUSTRY The submersible pumps market is majorly segmented into four types of industries: energy & power, water & sewage, construction, and chemical. These four segments have been estimated to provide a holistic view of the entire submersible pumps market. In addition, there are other categories, which include pulp & paper, food & beverage, mining, and marine industries. A submersible pump is a device whose entire assembly is submerged in the fluid that requires pumping. They are popularly referred to as Electrical Submersible Pumps (ESPs). They operate by pushing, rather than pulling water during its pumping process. They are available as single stage or multiple stages pumps. Each stage of a submersible pump consists of a motor in a casing, closed with mechanical seals to prevent leakage. The motor is connected to a cable that generates power to run the motor, and the casing extends to some sort of a pipe or hose leading to the surface. Submersible pumps can be connected to various types of pipes, flexible hoses, or wires depending on the job and the liquid being pumped. FIGURE 10 SEGMENTATION OF THE SUBMERSIBLE PUMPS MARKET, BY INDUSTRY SUBMERSIBLE PUMP MARKET, BY INDUSTRY Chemical Construction Energy and Power Water and Sewage Others Source: Secondary Research and MarketsandMarkets Analysis Note: Others include automobile, food, pulp & paper, and textile industries BY APPLICATION The submersible pumps market has also been segmented on the basis of application. It is majorly used for industrial, agriculture, and domestic purposes. Industrial utilization of submersible pumps is higher in wells and mines. Submersible pumps can also operate in fully submerged underwater or other liquids and are flood-proof. They are designed to handle solids, such as sewage pumps. They represent the largest share of the market in monetary terms; typically these pumps tend to be used in a large scale and are expensive. Submersible pumps are used in a wide-range of applications. Single stage pumps are used for drainage, sewage pumping, general industrial pumping, and slurry pumping. They are also popular with pond filters. Multiple stage submersible pumps are typically lowered down a borehole and most typically used for residential, commercial, municipal, and industrial water extraction (abstraction), water wells, and in oil wells. FIGURE 11 SEGMENTATION OF THE SUBMERSIBLE PUMPS MARKET, BY APPLICATION SUBMERSIBLE PUMP MARKET, BY APPLICATION Industrial Agriculture Domestic Source: Secondary Research and MarketsandMarkets Analysis 10

13 4 ASIA-PACIFIC SUBMERSIBLE PUMPS MARKET, BY TYPE 4.1 SUBMERSIBLE PUMP MARKET OVERVIEW The market for submersible pumps in this report has been segmented into two types: borewell and openwell. The following table presents the global submersible pump market, by type, from 2012 to TABLE 1 SUBMERSIBLE PUMPS MARKET SIZE, BY TYPE, (MILLION UNITS) Type e 2019-p CAGR% ( ) Borewell Openwell Total e Estimated; p Projected Source: Annual Reports, Company Publications, Investor Seminars, Press Releases, Expert Interviews, and MarketsandMarkets Analysis Borewell submersible pumps emerged as the most widely used submersible pumps globally in 2013, with a market size of million units. The global market for borewell submersible pumps is projected to reach million units by 2019, from million units in 2014, at a CAGR of % during the forecast period. The total openwell submersible pumps market stood at million units in 2013, and is expected to grow to million units by The overall submersible pumps market is projected to grow from an estimated million units in 2014 to million units by 2019, at a CAGR of % from 2014 to The growth in the global submersible pumps market is being led by Asia-Pacific, on the back of increasing infrastructure spending in the fast growing economies of the region. 11

14 4.1.1 BOREWELL Borewell submersible pumps find applications in extraction of water or crude oil from boreholes, irrigation, and water supply systems. The table below presents the borewell submersible market, by region, from 2012 to TABLE 2 BOREWELL SUBMERSIBLE PUMPS MARKET SIZE, BY REGION, (MILLION UNITS) Region e 2019-p CAGR% ( ) Asia-Pacific Europe Middle East & Africa North America South America Total e Estimated; p Projected Source: Annual Reports, Company Publications, Investor Seminars, Press Releases, Expert Interviews, and MarketsandMarkets Analysis Asia-Pacific was the largest market for borewell submersible pumps in the world in 2013, with a size of million units. It is estimated to grow from million units in 2014 to million units by 2019, at a CAGR of during the forecast period. North America was the second-largest market with million units in 2013, and is projected to be the fastest-growing at a CAGR of % from 2014 to The market size of borewell submersible pumps in Europe was million units in 2013, while that of the Middle East & Africa was million units. The market for borewell submersible pumps across the world will be driven by the rising infrastructure spending as well as continuing oil & gas exploration and production activities. 12

15 5 ASIA-PACIFIC SUBMERSIBLE PUMPS MARKET, BY APPLICATION 5.1 INDUSTRIAL Industrial applications include de-watering activities in construction, production activity in oilfields, usage in water and sewage treatment plants, as well as in manufacturing plants. The table below shows the global market size of industrial application, by region, from 2012 to TABLE 3 INDUSTRIAL APPLICATION MARKET SIZE, BY REGION, ($MILLION) Region e 2019-p CAGR% ( ) Asia-Pacific Europe Middle East & Africa North America South America Total e Estimated; p Projected Source: Annual Reports, Company Publications, Investor Seminars, Press Releases, Expert Interviews, and MarketsandMarkets Analysis The global submersible pumps market for industrial application was valued at $ million in 2013, and is projected to reach from an estimated $ million in 2014 to $ million by 2019, at a CAGR of % during the forecast period. Asia-Pacific was the largest regional market, with a value of $ million in 2013, and is projected to grow at a CAGR of % from 2014 to 2019, which is the fastest growth rate among all regions. The European market was valued at $ million in 2013, while North America stood at $ million in the same year. 13

16 TABLE 4 ASIA-PACIFIC: INDUSTRIAL APPLICATION MARKET SIZE, BY COUNTRY, ($MILLION) Country e 2019-p CAGR% ( ) Australia China India Indonesia Japan Malaysia Thailand Philippines Singapore Rest of Asia-Pacific Total e Estimated; p Projected Source: Annual Reports, Company Publications, Investor Seminars, Press Releases, Expert Interviews, and MarketsandMarkets Analysis Note: - Rest of Asia-Pacific includes Vietnam, Myanmar, and Laos among others The table above shows the Asia-Pacific market size of industrial application, by country, from 2012 to 2019The market for industrial applications of submersible pumps in Asia-Pacific was valued at $ million in 2013, and is projected to reach $ million by 2019, at a CAGR of % during the forecast period. China was the largest regional market, valued at $ million in 2013, and is expected to maintain its leading position till It is also projected to be the fastest growing market at a CAGR of % during 2014 and India was the second-largest market in the region, valued at $ million in Developing economies within the Asian continent, mostly included in this study, are undergoing the fastest economic growth, globally. Rapidly increasing industrial activities, construction of large private as well as public infrastructure projects, and urbanization are driving the demand for industrial applications of submersible pumps in the region. A renewed focus on crude oil production to reduce dependence on imports is, in turn, also encouraging demand for submersible pumps in the region. 14

17 6 ASIA-PACIFIC SUBMERSIBLE PUMPS MARKET, BY INDUSTRY 6.1 CONSTRUCTION The industrial market for submersible pumps in Asia-Pacific has been studied at country-level in this report to provide a better representation of the trends and forecasts of different industries in various countries. The table below shows the global market for submersible pumps in construction industry, by region, from 2012 to TABLE 5 CONSTRUCTION INDUSTRY MARKET SIZE, BY REGION, , ($ MILLION) Region e 2019-p CAGR% ( ) Asia-Pacific Europe Middle East & Africa North America South America Total e Estimated; p Projected Source: Annual Reports, Company Publications, Investor Seminars, Press Releases, Expert Interviews, and MarketsandMarkets Analysis The global market for submersible pumps in the construction industry was valued at $ million in 2013 and is projected to reach from an estimated $ million in 2014 to $ million in 2019, at a CAGR of %. Asia-Pacific was the largest market at $ million in 2013 and is projected to remain dominant through to 2019, growing at a CAGR of % during the forecast period. The North American market was valued at $ million in 2013 and is projected to reach $ million by 2019, at a CAGR of % during the forecast period, which is the fastest pace of expansion among all regions. 15

18 7 ASIA-PACIFIC SUBMERSIBLE PUMPS MARKET, BY REGION 7.1 AUSTRALIA Australia is the world s 12th largest economy and one of the most prosperous countries in the Asia-Pacific region. The submersible pumps market in Australia was valued at $ million in 2013, and is projected to grow from $ million in 2014 to $ million by 2019, at a CAGR of % during the forecast period. TABLE 6 AUSTRALIA: SUBMERSIBLE PUMPS MARKET SIZE, BY APPLICATION, ($MILLION) Application e 2019-p CAGR% ( ) Industrial Agriculture Domestic Total e Estimated; p Projected Source: Annual Reports, Company Publications, Investor Seminars, Press Releases, Expert Interviews, and MarketsandMarkets Analysis The above table represents the market size of submersible pumps in Australia, by application, from 2012 to The largest market for submersible pumps in Australia was of the industrial application, valued at $ million in It is projected to reach $ million by 2019, from $ million in The industrial application is also projected to exhibit the highest growth in the market at a CAGR of % from 2014 to The domestic application was the second-largest market, valued at $ million in This market is projected to reach a value of $ million by 2019, at a CAGR of % during the forecast period. Meanwhile, the domestic industry is projected to emerge as the second-fastest growing segment for submersible pumps in Australia, at a CAGR of % during the forecast period, as a large urban population continues to create the need for better civic utilities management, particularly water supply and drainage systems. 16

19 TABLE 7 AUSTRALIA: SUBMERSIBLE PUMPS MARKET SIZE, BY INDUSTRY, ($MILLION) Industries e 2019-p CAGR% ( ) Construction Oil & Gas Water & Sewage Chemical Others Total e Estimated; p Projected Source: Annual Reports, Company Publications, Investor Seminars, Press Releases, Expert Interviews, and MarketsandMarkets Analysis Others include Paper and pulp industry, automotive industry, and food & beverage industry. The above table shows the market size of submersible pumps in Australia, by industry, from 2012 to The constitution industry was the largest market with a value of $ million in 2013, and it is projected to reach $ million by 2019, from $ million in 2014, at a CAGR of % during the forecast period. The growth rate of the construction industry is projected to be the fastest among all other industries during the forecast period. The water and sewage industry was valued at $ million in 2013, and is projected to grow at a CAGR of % from 2014 to The construction industry emerges as the leading sector for submersible pumps in Australia on the back of strong activities in infrastructure projects, commercial construction, and development of apartment buildings, which is expected to continue in the near future. 17

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