Report : US Submersible Chopper Pumps Market Forecast to 2028 - COVID-19 Impact and Analysis by Type (Electric Submersible and Hydraulic Submersible), Application (Wastewater, Agriculture, and Others), and Discharge Size (Below 6 Inch, 6 Inch to 12 Inch, and Above 12 Inch)
Rapid Growth of End-Use Industries
According to our latest market study, titled "US Submersible Chopper Pumps Market Forecast to 2028 – COVID-19 Impact and Analysis –by Type (Electric Submersible and Hydraulic Submersible), Application (Wastewater, Agriculture, and Others), and Discharge Size (Below 6 Inch, 6 Inch to 12 Inch, and Above 12 Inch)," the market is projected to reach US$ 485.6 million by 2028 from US$ 334.8 million in 2021. It is expected to register a CAGR of 5.5% from 2021 to 2028.
Every day, wastewater treatment facilities in the US process approximately 34 billion gallons of wastewater. Nearly one in four households in the country depend on an individual decentralized system to treat its wastewater. The nation's more than 16,000 centralized wastewater treatment plants are also functioning, at over 80% of their design capacities, while 15% have reached or exceeded it. The increasing urban environments signal a trend that these facilities are expected to increasingly accommodate a larger portion of the nation's wastewater demand in the years to come. They find applications in various areas, such as biological treatment and severe clogging, to break down solids, especially in municipal water and wastewater treatment. These pumps can effectively pump heavily polluted wastewater having dry matter. Companies are developing a wide variety of products and solutions that address customer needs in the wastewater industry. With rapid urbanization, the need for chopper pumps is projected to increase significantly over the next few years. The increased usage of chopper pumps in wastewater applications is one of the major drivers of this market.
Agriculture stands out among the US industries as the total productivity growth is much higher than the average of all sectors. The substantial increase in total agricultural production can be attributed to the advent of modern technologies, innovations, and process improvements in the farm sector. With new pumping technologies, such as chopper pumps, farmers are required technologies and knowledge that enable them to maximize the productive potential of their farms, thereby controlling costs and preserving their economic viability. Livestock accounts for nearly half of the total US agricultural revenue. With the advent of precision mechanization technology, the US is expected to achieve the largest farm output in the coming years. This factor is expected to drive the US submersible chopper pumps market over the forecast period.
Based on type, the US submersible chopper pumps market is divided into electric submersible and hydraulic submersible. The electric submersible segment accounts for the largest revenue share in the overall market. This is due to the rapid adoption of electric pumps across various end-use applications, such as wastewater and agriculture. Based on application, the market is segmented into wastewater, agriculture, and others. Wastewater applications account for the largest revenue share in the application type segment. Sewage pumping and wastewater treatment handling applications are extremely challenging. Managing wastewater for municipalities, sewage lift stations, and water reclamation centers is critical. Based on discharge type, the US market is segmented into below 6 inches, 6 inches to 12 inches, and above 12 inches. The 6 inches to 12 inches segment holds a significant amount of revenue share in the market. Submersible Chopper pumps with high discharge sizes are considered in this segment. They are also referred to as heavy-duty chopper pumps and extensively pump thick materials, such as slurries. They are found in lift stations in utility districts and municipal water treatment facilities.
Key market players in the US submersible chopper pumps market are Xylem Inc, Pentair PLC, Sulzer Ltd, Vaughan Company, Hayward Gordan, Excel Fluid Group, Landia A/S, WAM Group SPA, Zenit Italia, and Valmetal.
Impact of COVID-19 Pandemic on US Submersible Chopper Pumps Market
The COVID-19 pandemic caused a downturn in the global economy, leading to an adverse impact on businesses and their operations. During the spring, the pandemic came to effect in the US and variedly affected the pump industry. With industries being halted, the pump industry also faced material consequences. Supply chain issues, shipping delays, border disputes, and currency fluctuations were some of the impacts of the pandemic. Volatility in the foreign currencies and raw material prices led to the negative performance of the pump industry and other industries in general.
In the year 2020, Pump manufacturers witnessed a 5 to 7% decline in sales than the previous fiscal year. They also experienced a decrease in customer demand among various end users. However, amidst the pandemic, the water and wastewater treatment industry seeks growth, as developed and emerging regions increase their access to clean water and effective water treatment to provide for their populations.
The report segments the US Submersible Chopper Pumps Market as follows:
Based on type, the US submersible chopper pumps market is segmented into electric submersible and hydraulic submersible. Based on application, the market is segmented into wastewater, agriculture, and others. Based on discharge type, the market is segmented into below 6 inches, 6 inches to 12 inches, and above 12 inches.
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