Trusted Business Insights presents the Updated and Latest Study on Electric Submersible Pump Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Abstract, Snapshot, Market Analysis & Market Definition: Electric Submersible Pump Market
Industry / Sector Trends
Electric Submersible Pump Market size was valued over USD 11 billion in 2018 and will grow over 6% by 2025.
North America Electric Submersible Pump Market Size, By Industry, 2018 & 2025 (USD Million)
Rapid urbanization and commercialization along with the growing demand for effective pumping systems will propel the electric submersible pump market. Increasing construction activities across sewage and wastewater treatment plants have facilitated the deployment of submersible slurry and sewage pumps in the municipal facilities. Ongoing investments toward the replacement and development of aging infrastructure along with introduction of new water management policies will enhance the industry outlook.
Growing adoption of artificial lift technologies and EOR methods to boost production from aging oil & gas fields will drive the market growth. These systems are being deployed across the mature and producing wells at some stage of their life cycle to amplify the flow rate. In addition, increasing exploration of new fields coupled with the ongoing adoption across the unconventional wells will augment the industry landscape.
Market Segmentation, Outlook & Regional Insights: Electric Submersible Pump Market
Electric Submersible Pump Market, By Industry
Rapidly budding population along with the surging demand for agricultural production will drive the market growth. Respective government authorities are providing necessary funds for development of energy efficient systems and improvement of existing irrigational infrastructure. The products are available on lease and rent in order to make them affordable for the local farmers. Technological advancements along with the growing adoption of pressurized irrigational systems will positively influence the industry outlook.
Expansion of building infrastructure coupled with favorable policies toward development of water supply and distribution facilities will accelerate the business growth. Ongoing replacement of existing units along with stringent building efficiency norms have amplified the product adoption. Increasing necessity for supplying water to high rise buildings and HVAC systems across hotels and resorts will further enhance the industry outlook.
Electric Submersible Pump Market, By Well
Depleting water resources coupled with extensive use of borewells for ground water extraction will foster the industry growth. The product finds applications across large scale irrigation projects, high rise buildings and industrial water supply. Key features including wide voltage range, stainless steel design and wear & abrasion resistance make the product suitable for downhole operations.
Rising concerns toward growing water contamination owing to excessive digging of borewells will stimulate the growth of open well electric submersible pump market. These units are widely deployed across small-scale irrigation, public water & drainage, drip & sprinkler irrigation systems and mine dewatering. Growing awareness toward the use of effective irrigation technologies coupled with refurbishment and development of new water treatment facilities will complement the business landscape.
Electric Submersible Pump Market, By Operation
The single stage electric submersible pump market will grow over 7.5% by 2025. Escalating demand from domestic applications along with growing deployment across commercial and industrial water pumping will enhance the industry outlook. The units have a simple design with a low flow and low pump head installed with a single impeller with maximum head of not more than 125 meters. Low pricing when compared with its counterparts coupled with availability in variety of voltage and power ratings will enhance the industry outlook.
Increasing upstream capital spending owing to recovering O&G prices will amplify the demand for multistage electric submersible pump market. These units are equipped with two or more impellers where the liquid lifting capacity can be adjusted by changing the number of stages. Growing deployment across high pressure pumping application including large sewage treatment plants, food & beverage, municipal drainage and mine dewatering will positively enhance the industry landscape.
Electric Submersible Pump Market, By Region
Middle East Electric Submersible Pump Market Size, 2018 (USD Million)
The Asia Pacific market will expand over 7% by 2025. The primary growth across the region is driven by India and China with increasing population and ongoing development of building infrastructure. For instance, as per the World Population Review, in 2019, the population across India and China reached over 1.36 billion and 1.42 billion respectively. In addition, the growing requirement for reliable sewage management plants along with substantial government funding to enhance the public infrastructure will complement the industry landscape.
Rising concerns toward water scarcity along with increasing use of desalination plants will foster the Middle East electric submersible pump market. Inefficient water management system with lack of access to sanitary water will augment the business landscape. Increasing penetration of artificial lift solutions owing to growing technology awareness has further amplified the industry growth. In December 2017, BHGE opened an Artificial Lift Center in line with its commitment to Saudi talent development and localized manufacturing and will provide its entire range of ESP solutions.
Key Players, Recent Developments & Sector Viewpoints: Electric Submersible Pump Market
Eminent players operating across the ESP market include Schlumberger, Borets, Halliburton, General Electric, Weatherford, Flowserve Corporation, Ebara, Atlas Copco, Wilo SE, Grundfos Holding, Sulzer, Novomet-Perm, Tsurumi Manufacturing and Crompton Greaves.
Low cost manufacturing and new product development are key growth strategies adopted by the industry players for maintaining a competitive edge across the industry. In addition, product quality and technology integration including the use of sensors for downhole monitoring are some key factors gaining attention of manufacturers to attract more customers.
Electric Submersible Pump Industry Viewpoint
Electric submersible pump is a device comprising a hermetically sealed motor closely attached to the body, with the entire assembly is submerged in the liquid it is pumping. The pump designs are customized as per different industrys operational requirements and are deployed across agriculture, sewage & wastewater, oil & gas, building services and other industries. The units operate by pushing the liquid to the surface rather than pulling it, converting the rotary energy to kinetic energy. The pressure of the liquid can be amplified by adding multiple stages in the pump for industrial applications.
What are the Key Insights Covered: Exhaustive Electric Submersible Pump Market
1. Market size (sales, revenue and growth rate) of Electric Submersible Pump industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Electric Submersible Pump industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Electric Submersible Pump industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Electric Submersible Pump industry.
Research Methodology: Electric Submersible Pump Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
Quick Read Table of Contents of this Report @ WorldWide Electric Submersible Pump Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 – 2025
This post was originally published on Downey Magazine