HS Code:
Submersible pumps, classified under HS Code 8413.70, are specialized centrifugal pumps designed to operate while fully submerged in the fluid they are pumping. These pumps are widely used in various applications, including water supply, irrigation, industrial processes, and wastewater management. Their ability to function underwater makes them essential for deep well pumping, sewage treatment, and flood control. The global market for submersible pumps is driven by increasing demand for efficient water management systems, urbanization, and industrial growth.
Total Trade Volume
USD 5.2 billion
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
USD 1.3 billion
25% of total trade of total trade
Increasing
USD 850 million
16% of total trade of total trade
Stable
USD 750 million
14% of total trade of total trade
Increasing
USD 500 million
10% of total trade of total trade
Stable
USD 400 million
8% of total trade of total trade
Increasing
Average Rate
5.5% ad valorem
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements such as EU-USMCA)
Rising demand for energy-efficient pumps
Manufacturers are investing in R&D to develop pumps with lower energy consumption, driven by global sustainability goals and regulations like the EU Ecodesign Directive.
2021-2023
Growth in wastewater treatment applications
Increased urbanization and stricter environmental regulations are boosting demand for submersible pumps in sewage and wastewater management systems.
2020-2022
Adoption of smart and IoT-enabled pumps
Integration of IoT technology for real-time monitoring and predictive maintenance is enhancing market competitiveness, especially in industrial sectors.
2022-2023
The European Union introduced updated energy efficiency requirements for submersible pumps under the Ecodesign Directive, mandating higher efficiency ratings for imported and domestically produced pumps.
January 2023
Manufacturers outside the EU may face higher compliance costs, potentially affecting export competitiveness to the region.
A recent phase of the US-China trade agreement reduced tariffs on certain industrial equipment, including submersible pumps, from 7.5% to 5%, fostering increased trade between the two nations.
March 2022
This reduction is expected to boost Chinese exports of submersible pumps to the US market, benefiting major manufacturers.
India's government launched initiatives under the National Water Mission to improve irrigation infrastructure, leading to a surge in demand for submersible pumps in the agricultural sector.
July 2022
Indian manufacturers and exporters are experiencing growth, with potential for increased market share in South Asia.