TETHERED MANNED SUBMERSIBLE MARKET ANALYSIS

Regional Analysis

Global Tethered Manned Submersible Market: Regional Insights

On the basis of region, the global tethered manned submersible market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. Asia Pacific accounted for the largest market share in 2017 and is expected to retain its dominance during the forecasted period. Major factors that attribute to this growth include rapid urbanization and industrialization in emerging economies such as China and India, which are experiencing increased investments on housing, road network, urban transport, water supply, power-related infrastructures, smart cities, and other forms of urban management. For instance, a white paper released by Government Technology under the name, “Evolution of Smart Cities and Connected Communities”, co-sponsored by the United Parcel Service (UPS) and the Consumer Technology Association reported development of around 600 smart city projects in India and around 285 similar projects in China. Therefore, increasing urbanization is expected to significantly increase the demand for infrastructural development and residential facilities, which in turn, is expected to boost demand for tethered manned submersible pumps. This factor will help fuel growth of the market in Asia Pacific.