Electric Submersible Pumps Market (2018 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Electric Submersible Pumps market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.
“Electric Submersible Pumps Market report is anticipated to register a CAGR of XX% over a five years forecast period (2018 – 2023).”
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List of Major Key players operating in the Global Electric Submersible Pumps Market are –
- General Electric
- Schlumberger Limited
- Halliburton Company
- Borets International Limited
- Grundfos Pumps Corporation
- Falcon Pumps Pvt. Ltd.
- Weatherford International
- Walrus America Inc
- Torqueflow Sydex Ltd
- JSC Novomet-Perm
The electric submersible pumps are one of the most effective artificial lift methods for pumping fluids to the surface. ESPs are widely used in the oil & gas industry due to its higher efficiency, low maintenance and low space requirements. 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&P) activities. Moreover, increase in number of depleting reserves across the world is expected to create increasing market opportunities for electric submersible pumps business. 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. Major oil companies are expanding their business in ESPs.
New Deepwater and Ultra-deep Water Development Projects is driving the market
Despite the prolonged low oil prices, there are fast-track development plans for large deepwater fields, such as Totals Egina (Nigeria), Kaombo (Angola) projects, Enis Zohr gas discovery in the Mediterranean Sea off Egypt, Petrobras Lula (Brazil) field development, ExxonMobils Liza discovery off Guyana, and Chevrons Big Foot (US) development. 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.
North America to Dominate the Market Growth
The 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. Moreover, the oil & gas operators in North America are planning to further speed up investments for the recovery of unconventional reserves, such as shale and oil sands, which, in turn, is expected to supplement the demand for ESP in the North American region. Technologies, such as, horizontal directional drilling and hydraulic fracking, are widely used in the region for oil & gas production, which is expected to further drive the demand for electrical submersible pumps.
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Scope of the Report:
The report analyses Electric Submersible Pumps market, which includes –
- Analysis of the growth of Electric Submersible Pumps market in global and regional level including Asia-Pacific, Americas, and EMEA.
- The report provides Electric Submersible Pumps market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
- The report offers country level Electric Submersible Pumps market volume and value by end-user segment for the period 2012-2023.
- Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Electric Submersible Pumps market are discussed.
- The report provides competitive landscape at country level for the year 2018. It also covers key policies and initiatives, key deals, and key upcoming projects.
Highlighted points of Electric Submersible Pumps Market Report:
- Varying dynamics of the Electric Submersible Pumps industry.
- Prospective changes in sales volumes and worldwide share growth in upcoming years (2018-2023).
- Electric Submersible Pumps market report recognizes the key drivers of growth and challenges of the key industry players.
- Competitors profiles along with product description, overview, and business data.
- A complete analysis of market risks, opportunities, limitations, and growth of the market.
- Market driving and restraining factors.
- Delivers information on the historical and current market size and the future potential of the market.
- Electric Submersible Pumps market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.
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Reasons to Purchase Electric Submersible Pumps Market Report:
- The report analyses how stringent emission control norms will drive the global Electric Submersible Pumps market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major Electric Submersible Pumps market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
In this study, the years considered to estimate the market size of Electric Submersible Pumps:
History Year: 2013-2017
Base Year: 2017
Estimated Year: 2018
Forecast Year 2018 to 2023
Look into Table of Content of Electric Submersible Pumps Market Report @ https://www.360marketupdates.com/TOC/12886996,TOC
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