The global Electrical Submersible Pump (ESP) market was valued at US$ 11820 million in 2020 and it is expected to reach US$ 16850 million by the end of 2027, growing at a CAGR of 5.1% during 2021-2027.
The electrical submersible pump, typically called an ESP, is an efficient and reliable artificial-lift method for lifting moderate to high volumes of fluids from wellbores. These volumes range from a low of 150 B/D to as much as 150,000 B/D (24 to 24,600 m3/d). Variable-speed controllers can extend this range significantly, both on the high and low side. The ESP’s main components include: multistaged centrifugal pump，three-phase induction motor，seal-chamber section，power cable and surface controls。
First of all, increasing demand for Electric submersible pumps coupled with the exploration of new energy is expected to result in the growth of the market. The shortage of oil and gas drives the market. Productivity is another key point to encourage customers to use it. The adoption of novel technologies will thus enable them drill deeper into oil wells. Such incumbent trends will create attractive opportunities for the sales of electrical submersible pumps (ESPs). Second，on the basis of region，Europe dominates the electrical submersible pumps market and is expected to witness an increase through the forecast period. The market in Central and South America are estimated to grow as a result of a large number of mature fields in Venezuela and Brazil.
Global Electrical Submersible Pump (ESP) Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Electrical Submersible Pump (ESP) Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027.
Key Companies profiled in this report are Sulzer, Grundfos Group, KSB Group, Wilo, Schlumberger Limited, GE(Baker Hughes), Borets Company, GE Oil & Gas and more in terms of market share by sales, revenue, average pricing, product type, margins, recent developments etc.
Find more details at: https://www.themarketreports.com/report/global-electrical-submersible-pump-esp-market-outlook
Segment by Type
- Openwell
- Borewell
Segment by Application
- Industrial
- Agriculture
- Domestic
Table of Content:
1 Electrical Submersible Pump (ESP) Market Overview
2 Electrical Submersible Pump (ESP) Market Competition by Manufacturers
3 Electrical Submersible Pump (ESP) Retrospective Market Scenario by Region
4 Global Electrical Submersible Pump (ESP) Historic Market Analysis by Type
5 Global Electrical Submersible Pump (ESP) Historic Market Analysis by Application
6 Key Companies Profiled
7 Electrical Submersible Pump (ESP) Manufacturing Cost Analysis
8 Marketing Channel, Distributors and Customers
9 Electrical Submersible Pump (ESP) Market Dynamics
10 Global Electrical Submersible Pump (ESP) Market Forecast
11 Research Finding and Conclusion
12 Methodology and Data Source
13 Forecast by Type and by Application (2022-2027)
14 Research Finding and Conclusion
15 Methodology and Data Source
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Peter Barzilai is a high school pitcher and college rower turned longtime World News journalist. Peter has also written for Buzz Feed and Huffington Post and many other major publications, Peter Loves everything about sports and loves to write on trending topics and he is DailyFactsNTrends member since 2017.