Southeast Asia Submersible Pumps Market to Surge Positively, Projects FMI 2022 2032

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The market for submersible pumps in Southeast Asia is anticipated to grow steadily at a CAGR of 5.5% between 2022 and 2032, reaching US$ 1,076.8 Mn. Due to their expanding end-use applications, borewell submersible pumps are predicted to hold over 56.9% of the market share in the region by 2022.

The International Monetary Fund predicts that Asia-Pacific will experience a CAGR of 4.3% in 2023 despite the COVID-19’s uncertain effects in the region as a whole. As a result, it would contribute to offering significant potential for water infrastructure projects in a number of nations.

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The increased investment in water and wastewater treatment projects is anticipated to result in a significant increase in the demand for submersible pumps throughout Southeast Asia. A significant increase in offshore oil and gas exploration as well as rising construction spending in nations like Thailand and Malaysia will support the market for submersible pumps.

The market is also anticipated to be driven by Southeast Asia’s rapidly expanding oil & gas, utility, construction, and mining industries. Due to their expanding use across numerous end-use industries like agriculture, residential, commercial, and water utility construction, submersible pumps account for about 5-7% of the global

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