Market Overview:
The global electrical submersible pumps (ESPs) market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the ESP market can be attributed to the increasing demand for oil and gas across the globe. Additionally, the growing population and rising income levels are also contributing to the growth of this market. Onshore electrical submersible pumps (ESPs) held a major share of the global ESP market in 2017 and is expected to maintain its dominance during the forecast period. Offshore electrical submersible pumps (ESPs) are projected to grow at a higher CAGR than onshore ESPs from 2018 to 2030 owing to increased exploration and production activities in offshore areas. Oil & gas was by far the largest application segment for electrical submersible pumps (ESPs) in 2017, accounting for more than two-thirds of total demand worldwide. However, other applications such as water supply & distribution, mining, power generation, etc.
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Product Definition:
An electrical submersible pump (ESP) is a device that uses an electric motor to drive a water-pumping impeller.
The importance of ESPs lies in their ability to move large quantities of water at high pressures from deep within the earth to the surface. They are used extensively in the oil and gas industry for lifting oil and gas from wells, and in municipal water systems for pumping fresh water from underground sources into reservoirs or treatment plants.
Onshore:
Onshore is the term used for pumps that are installed on the land, either by being mounted on a structure or laid in a bed. An offshore pump is one that is located in water and used to move fluid from one place to another. The two basic types of offshore pumps are submersible and non-submersible; submersible ones can be either oil-based or water-based.
Offshore:
Offshore is the term used for water or land area located beyond the legal limits of a country, which is often used in reference to oil & gas extraction. For instance, The U.S. has several offshore oilfields that are producing petroleum and natural gas at a significant rate. In addition, there are also other offshore locations where exploration and production activities have been conducted but suspended temporarily due to technical difficulties such as lack of equipment or workforce etc.
Application Insights:
The oil & gas application segment accounted for the largest market share in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing demand for crude oil from offshore platforms, shale basins, and deepwater areas across the globe. Furthermore, growing investments by companies in exploration activities are expected to drive product demand over the coming years.
The Others application segment includes construction projects such as dams & reservoirs; irrigation projects; water supply projects; drainage systems; road construction including motorways and arterial roads among others which require pumping solutions that can provide high power output with low energy consumption thus ensuring efficient performance while limiting costs associated with electricity consumption.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The presence of major oil & gas reserves in countries such as China, India, Vietnam, South Korea and Indonesia among others are expected to drive regional growth. In addition, increasing government spending on various energy projects including offshore wind farms along with rising demand for electricity is also likely to drive regional growth over the forecast period.
North America accounted for a significant share of revenue in 2017 owing to growing investments by companies operating within the region coupled with an increase in ESP utilization across several industries including water treatment and power generation among others. Moreover, technological advancements coupled with increased focus on reducing operational costs are anticipated to further boost product demand within this region during the forecast period.
Growth Factors:
- Increasing demand for electrical submersible pumps from the oil and gas industry as a result of increasing exploration and production activities
- Rising demand for electrical submersible pumps in the water management sector due to growing concerns over water scarcity and its impact on agriculture, industries, and households
- Rapid growth in the construction sector across emerging economies, which is expected to lead to an increase in demand for electrical submersible pumps used in various applications such as irrigation, drainage, sewage disposal systems, etc.
- Growing popularity of energy-efficient electric motors that are used in ESPs is expected to boost the market growth over the forecast period
- Technological advancements that have led to development of more reliable and efficient electric motors are likely to fuel market growth
Scope Of The Report
Report Attributes
Report Details
Report Title
Electrical Submersible Pumps (ESPs) Market Research Report
By Type
Onshore, Offshore
By Application
Oil & Gas, Others
By Companies
Grundfos Pumps Corporation,, Walrus America Inc,, Baker Hughes Incorporated,, Schlumberger Limited,, Halliburton Company,, Falcon Pumps Pvt. Ltd.,, Borets Company,, GE Oil & Gas,, JSC Novomet-Perm,, Torqueflow Sydex Ltd.,, Weatherford International
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
176
Number of Tables & Figures
124
Customization Available
Yes, the report can be customized as per your need.
Global Electrical Submersible Pumps (ESPs) Market Report Segments:
The global Electrical Submersible Pumps (ESPs) market is segmented on the basis of:
Types
Onshore, Offshore
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Oil & Gas, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Grundfos Pumps Corporation,
- Walrus America Inc,
- Baker Hughes Incorporated,
- Schlumberger Limited,
- Halliburton Company,
- Falcon Pumps Pvt. Ltd.,
- Borets Company,
- GE Oil & Gas,
- JSC Novomet-Perm,
- Torqueflow Sydex Ltd.,
- Weatherford International
 Market Overview.svg)
Highlights of The Electrical Submersible Pumps (ESPs) Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Onshore
- Offshore
- By Application:
- Oil & Gas
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Electrical Submersible Pumps (ESPs) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
 Market Statistics.svg)
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
ESPs are a type of pump that uses electrical power to move water or other fluid substances. They are often used in offshore oil and gas production, as well as in municipal water supplies.
Some of the key players operating in the electrical submersible pumps (esps) market are Grundfos Pumps Corporation,, Walrus America Inc,, Baker Hughes Incorporated,, Schlumberger Limited,, Halliburton Company,, Falcon Pumps Pvt. Ltd.,, Borets Company,, GE Oil & Gas,, JSC Novomet-Perm,, Torqueflow Sydex Ltd.,, Weatherford International.
The electrical submersible pumps (esps) market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Electrical Submersible Pumps (ESPs) Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Electrical Submersible Pumps (ESPs) Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Electrical Submersible Pumps (ESPs) Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Electrical Submersible Pumps (ESPs) Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Electrical Submersible Pumps (ESPs) Market Size & Forecast, 2020-2028
4.5.1 Electrical Submersible Pumps (ESPs) Market Size and Y-o-Y Growth
4.5.2 Electrical Submersible Pumps (ESPs) Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Onshore
5.2.2 Offshore
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Oil & Gas
6.2.2 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Electrical Submersible Pumps (ESPs) Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Electrical Submersible Pumps (ESPs) Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Onshore
9.6.2 Offshore
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Oil & Gas
9.10.2 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Onshore
10.6.2 Offshore
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Oil & Gas
10.10.2 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Onshore
11.6.2 Offshore
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Oil & Gas
11.10.2 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Onshore
12.6.2 Offshore
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Oil & Gas
12.10.2 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Onshore
13.6.2 Offshore
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Oil & Gas
13.10.2 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Electrical Submersible Pumps (ESPs) Market: Competitive Dashboard
14.2 Global Electrical Submersible Pumps (ESPs) Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Grundfos Pumps Corporation,
14.3.2 Walrus America Inc,
14.3.3 Baker Hughes Incorporated,
14.3.4 Schlumberger Limited,
14.3.5 Halliburton Company,
14.3.6 Falcon Pumps Pvt. Ltd.,
14.3.7 Borets Company,
14.3.8 GE Oil & Gas,
14.3.9 JSC Novomet-Perm,
14.3.10 Torqueflow Sydex Ltd.,
14.3.11 Weatherford International
