The new Electric Submersible Pumps Market report offers a comprehensive study of the current scenario of the market including major market dynamics. Also, it highlights the in-depth marketing research with the newest trends, drivers, and segments with reference to regional and country. Further, this report profiles top key players and analyze their market share, strategic development, and other development across the world.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Electric Submersible Pumps market include General Electric, Schlumberger, Flowserve Corporation, Halliburton, Borets, Atlas Copco, Weatherford, Ebara, Wilo SE, Novomet-Perm, Grundfos Holding, Crompton Greaves, Sulzer, Tsurumi Manufacturing. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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Market Dynamics
The Electric submersible pumps market is witnessing robust growth driven by several key factors that underline the vital role of these pumps in various industries. Primarily, the oil and gas sector heavily relies on them to enhance well productivity and efficiently extract hydrocarbons and water from wellbores, thus contributing to the market's expansion. Additionally, the demand for reliable water supply systems and efficient irrigation solutions in urban areas and agriculture is propelling the adoption of ESPs. Wastewater management and treatment are essential for public health and environmental protection, with electric submersible pumps playing a crucial role in sewage and wastewater movement. The agricultural industry uses it for irrigation, aligning with the need to optimize water usage and enhance crop yields. These are also instrumental in industrial processes, where fluid transport efficiency is a critical factor. Ongoing technological innovations in ESP design, materials, and motor efficiency are making these pumps more reliable and cost-effective, further stimulating market growth. Environmental regulations and the focus on sustainable water management practices are encouraging the adoption of efficient pumping solutions.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of electric submersible pumps. The growth and trends of electric submersible pumps industry provide a holistic approach to this study.
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Market Segmentation
This section of the electric submersible pumps market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Industries
- Oil & Gas
- Sewage & Wastewater
- Agriculture
- Building Services
- Others
By Wells
- Borewell
- Openwell
By Operations
- Single-Stage
- Multi-Stage
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Electric Submersible Pumps market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
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Moreover, the growing oil & gas industry is expected to drive the market for ESP systems and has several opportunities for the market in future.The electric submersible pump market is expected to grow in the near future, owing to increasing focus on improvement in oil & gas upstream activities.
The worldwide rig count stood at 2,179 in March 2018 and it is anticipated to increase in coming years on account of growth in increasing exploration & production (E) activities.
ESPs, can bring more oil to the surface by boosting the pressure in a reservoir, and hence, are increasingly being used in unconventional wells to maximize economics of oil.
With fewer remaining easy-to-access oil fields and maturing production from exiting basins from, both, onshore and shallow-water, development of deepwater reserves has become increasingly vital.
Hence, the increasing exploitation of deepwater resources is expected to drive the ESP market during the forecast period.Read details of the report at: http://orbisresearch.com/reports/index/global-electric-submersible-pumps-market-analysis-by-location-of-deployment-and-geography-growth-trends-and-forecast-2018-2023 North America to Dominate the Market GrowthThe past three years were challenging for the global oil & gas industry, which recorded a 25% and 26% decline in upstream investment in 2015 and 2016, respectively.
However, in 2017, owing to the higher investment in North America unconventional reserves, mainly from the US shale region, the global upstream industry saw a significant gain of investment.
