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Global Electric Submersible Pump Market: About this marketSpeak directly to the analyst to clarify any post sales queries you may have.
The electric submersible pump market analysis considers sales from both offshore and onshore application. Our report also provides a detailed analysis of the market in APAC, Europe, MEA, North America, and South America. In 2019, the offshore segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as improved well performance, reduced capital costs, and increased energy efficiency will play a significant role in the offshore segment to maintain its market position. Also, our global electric submersible pump market report looks at factors such as the rising number of mature oil and gas fields, increasing investments in artificial lift technologies, and the surging demand in agriculture industry. However, disadvantages of ESPs, threat of substitutes, and low operational life of ESPs may hamper the growth of the electric submersible pump industry over the forecast period.
Global Electric Submersible Pump Market: Overview
Surging demand in agriculture industry
ESPs play a crucial role in irrigation purposes. ESPs used for agricultural purposes are specially designed for underwater applications and are equipped with three-phase electrical power. Moreover, they can withstand voltage fluctuations and have high suction lift capacity. Thus, global agricultural industry is expected to grow because of the increasing rural incomes and rising government-supported schemes. Additionally, the growing number of mature oil and gas fields will lead to the expansion of the global electric submersible pump market at a CAGR of almost 4% during the forecast period.
Increasing use of rig-less ESPs
Rig-less ESPs help operators in reducing the intervention cost and minimizing production loss. These devices can be used in challenging environments such as deepwater subsea fields, unconventional oil plays, heavy oil deposits, and other. This is inducing vendors to incorporate new technologies into artificial lift methods, leading to the development of rig-less ESP. The conveyance of rig-less ESP is simpler compared with the conventional model. This development is expected to have a positive impact on the overall market growth.
Competitive Landscape
With the presence of few major players, the global electric submersible pump market is concentrated. The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of few leading electric submersible pump manufacturers, that include Baker Hughes, a GE Co. LLC, DOS CANADA INC., EBARA Corp., Flowserve Corp., Grundfos Holding AS, Halliburton Co., KSB SE & Co. KGaA, Schlumberger Ltd., SPX FLOW Inc., and Sulzer Ltd.
Also, the electric submersible pump market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Table of Contents
PART 01: EXECUTIVE SUMMARYPART 07: CUSTOMER LANDSCAPEPART 09: DECISION FRAMEWORK
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY APPLICATION
PART 08: GEOGRAPHIC LANDSCAPE
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
PART 14: APPENDIX
List of Exhibits
Executive Summary
The following companies are the key players in the global electric submersible pump market: Baker Hughes, a GE Co. LLC, DOS CANADA INC., EBARA Corp., Flowserve Corp., Grundfos Holding AS, Halliburton Co., KSB SE & Co. KGaA, Schlumberger Ltd., SPX FLOW Inc., and Sulzer Ltd.Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is the increasing use of rig-less ESPs.”
According to the report, one of the major drivers for this market is the surging demand in agriculture industry.
Further, the report states that one of the major factors hindering the growth of this market is the low operational life of ESPs.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Baker Hughes, a GE Co. LLC
- DOS CANADA INC.
- EBARA Corp.
- Flowserve Corp.
- Grundfos Holding AS
- Halliburton Co.
- KSB SE & Co. KGaA
- Schlumberger Ltd.
- SPX FLOW Inc.
- Sulzer Ltd.
