Global Electrical Submersible Pumps (ESPs) Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of around XX % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The electric submersible pumps are widely used in the oil & gas industry because of its higher efficiency, low maintenance and low space requirements. Also, the growing oil & gas industry is projected to drive the market for ESP systems and has various opportunities for the market in future. Moreover, increasing exploration and production activities across alternative resources in North America are predicted to boost ESPs installation in the forthcoming years. Contrary to this, the constantly declining oil prices could have a harmful influence on the market’s overall trajectory.
Global Electrical Submersible Pumps (ESPs) Market Segment Analysis
Based on applications, the onshore segment exhibited the highest ESPs installations, thus holding over 76.20 % of the market in 2019. Though, the segment is anticipated to slowly drop its market share as offshore installations increase over the course of the forecast period. Developing economies are likely to exhibit significant expansion in the offshore industry.
The global market of electric submersible pumps seems to be highly competitive but consolidated. Many large and small key players operating in the market are churning the competition to gain competitive advantage. To sustain their market position these players incorporate acquisition, collaboration, partnership, expansion, and technology launch.
Global Electrical Submersible Pumps (ESPs) Market Regional Insights
Regionally, Europe held the leading share of 60.01 % within the global electrical submersible pumps market in 2019. Russia has developed because of the most profitable marketplace for ESPs in Europe. The increasing electrical submersible pump installations in Europe is attributed to the rising demand from the offshore sector in Kazakhstan and also the bit by bit declining oil production within the North Sea. Spurred by these factors, demand for artificial lifting systems is probably going to extend in Europe. Also, Europe is projected to retain its position as the prominent market for ESPs through the forecast period. The increasing demand from oilfields in Russia, Kazakhstan, and the U.K. will seal Europe’s position as the market exhibiting the highest number of ESP installations.
Moreover, in North America, the U.S. is projected to report the highest installation of ESPs in 2019. As well, the ESP producers are also anticipated to witness attractive opportunities in Canada and Mexico. Since many well-known oilfield services providers are domiciled in this region, the ESP market in North America will rise at a positive pace through the forecast period. In Asia Pacific the ESP manufacturers are likely to gain from the increasing offshore industries in China, Malaysia, and Australia.
The report gives a market outline covering key drivers and risks factors. The report is split by top global manufactures mentioning sales, revenue and prices as applicable. It also evaluates the competitive scenario of the foremost players. The report expands to cover regional market data along with product type, operation, and application. The report forecasts sales and revenue from 2019 to 2027. The detailed sales channel is also covered in the study.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global electrical submersible pumps (ESPs) market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global electrical submersible pumps (ESPs) market.
Global Electrical Submersible Pumps (ESPs) Market, Key Highlights:
• Global Electrical Submersible Pumps (ESPs) Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Electrical Submersible Pumps (ESPs) Market
• Global Electrical Submersible Pumps (ESPs) Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Electrical Submersible Pumps (ESPs) Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Electrical Submersible Pumps (ESPs) Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Electrical Submersible Pumps (ESPs) Market are also profiled.
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Scope of Global Electrical Submersible Pumps (ESPs) Market
Global Electrical Submersible Pumps (ESPs) Market, by Product Type
• Borewell
• Non-Clog
• Openwell
Global Electrical Submersible Pumps (ESPs) Market, by Operation
• Multistage
• Single Stage
Global Electrical Submersible Pumps (ESPs) Market, by Application
• Onshore
• Offshore
Global Electrical Submersible Pumps (ESPs) Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Global Electrical Submersible Pumps (ESPs) Market Key Players
• Schlumberger Limited
• Baker Hughes Incorporated
• Borets Company, LLC
• GE Oil & Gas
• Falcon Pumps Pvt. Ltd.
• Grundfos Pumps Corporation
• Walrus America Inc.
• Halliburton Company
• JSC Novomet-Perm
• TorqueflowSydex Ltd.
• Weatherford International
• Hitachi Metals
• Kerite
• Prysmian
• General Cable012345
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