Report Code: A10792 | Pages: NA | Jul 2023 | 1211 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Electric Submersible Pump Market
Request Now !Electric submersible pump market or an ESP is a mechanical device used for lifting fluids from underground or wells. ESPs have hermetically sealed motors along with the pump body and the whole system is submerged into the fluid that is to be pumped. An ESP is more efficient than conventional jet pumps as it prevents pump captivation caused by the high difference in elevation between the pump and the fluid surface. The ESPs have a wide range of applications in different end-use industries including oil & gas, agriculture, wastewater management, and others.
Market scope and structure analysis :
Report Metric | Details |
 Market size available for years |  2019–2027 |
 Base year considered |  2019 |
 Forecast period |  2020–2027 |
 Forecast units |  Value (USD) |
 Segments covered |  Well, Operation, End-use Industry and Region |
 Geographies covered | North America (U.S. and Canada), Europe (Germany, UK, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of LATAM) and Middle East and Africa (Saudi Arabia, UAE, Kuwait, South Africa, and Rest of MEA) |
 Companies covered | Borets International Limited, Schlumberger Limited, General Electric, Weatherford International, Flowserve Corporation, Ebara Corporation, Atlas Copco AB, Wilo SE, Grundfos Holding A/S, Gorman-Rupp Company, Sulzer Ltd., Crompton Greaves Consumer Electricals Limited, Tsurumi Manufacturing Co. Ltd. and  Novomet-Perm JSC. |
COVID-19 scenario analysis:
The outbreak of the COVID-19 pandemic has severely affected the growth of the electric submersible pump market.
Extensive use of these pumps in the oil & gas industry is one of the major factors driving the growth of the electric submersible pump market. There is a growing demand for fuel all over the world owing to the rapid industrial development across the globe. The ESP system is highly effective in lifting the pump fluids from the wellbores during the drilling process. Along with the higher efficiency, the ESPs require much lower space compared to the conventional jet pumps. as well as low maintenance cost. These factors makes it highly popular in the excavation of crude oil among the major oil & gas companies. Moreover, the ESPs also have several applications in the agricultural sector to maintain sufficient water supply in the farm lands. The ESPs are also available on lease or rent so that they can be availed by small scale farmers as well. The ESP systems are also being adopted by different sewage and wastewater treatment plants across the globe.Â
In terms of market share, the North American region accounts for a significant share of the global electric submersible pump market with rapid growth in the oil & gas industry in the region. The market in the Middle East and Africa is also anticipated to witness a lucrative growth in demand for electric submersible pump due to the presence of high number of oil & gas industries in the region. The market in the Asia-Pacific region is also expected to grow at a significant pace because of the steady demand for ESP systems in the agricultural and wastewater management industries of the developing nations in the region.
Key segments covered:
Segments | Sub-segments |
 Well |
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 Operation |
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 End-use Industry |
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Key benefits of the report:
Electric Submersible Pump Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
Aspects | Details |
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By Well Type |
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By Operation |
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By End Use Industry |
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By Region |
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Key Market Players | Flowserve Corporation, Grundfos Holding A/S, Borets International Limited, Wilo SE, Ebara Corporation, Schlumberger Limited, General Electric, Weatherford International, Atlas Copco AB, Gorman-Rupp Company |
Sulzer Ltd., Crompton Greaves Consumer Electricals Limited, Tsurumi Manufacturing Co. Ltd., Novomet-Perm JSC, Others |
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