Energy & Environment Industry Today
Global Electric Submersible Pumps Market Swot Analysis, Top Players Financial Overview, Analysis And Forecasts 2017 To 2027
Global Electric Submersible Pumps Market Information Report by Well Type (Land and Offshore.), by Components (Power Cables, Multi staged Centrifugal Pump, and Three Phase Induction Motors) and by Region - Forecast to 2027
Published 12 December 2017
Market Research Future published a Cooked research report on “Global Electric Submersible Pumps Market Research Report - Forecast to 2023 ” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023
Prominent Players
Grundfos Pumps Corporation (Denmark), Walrus America Inc (U.S.), Baker Hughes (U.S.), Schlumberger Limited (U.S.), Halliburton Company (U.S.), Falcon Pumps Pvt. Ltd. (India), Borets Company (U.S.), JSC Novomet-Perm (Russia), Torqueflow Sydex Ltd.(U.K.), Weatherford International (U.K) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Electric Submersible Pumps Market.
Electric Submersible Pumps Global Market - Overview
In the oil and gas industry, electric submersible pump (ESP) systems are probably best known as an effective artificial lift method of pumping production fluids to the surface. It is a multi-stage centrifugal pump that is coupled to a sealed motor, then lowered down a wellbore and used for fluid abstraction. It supplements the natural driving force of the reservoir and increases the production rate by reducing the flowing bottom-hole pressure. The pump itself is a multi-stage unit with the type and number of stages being determined by the operating requirements of each well application. It is used over a wide variety of applications because they have a simple design that produces high efficiency. Electric submersible pumps market is one of the fastest growing markets owing to its increased applications across various end-use industries such as pharmaceutical, cosmetics, water treatment, mining, chemical, oil & gas and others.
The market is driven by various factors such as technical advantages of the electric submersible pumps and its increasing applications across various end-use industries. Moreover, due to cost increase in the current energy market, the requirement for power consumption evaluation and improvement for electrical submersible pump (ESP) systems remains strong. However, electric submersible pumps market has various restraints that hinder the growth of the market such as the high overhead costs and the design constraints.
According to a recent study report published by the Market Research Future, The global market of electric submersible pumps is booming and expected to gain prominence over the forecast period. The global electric submersible pumps market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a CAGR of 5.24% during the estimated period (2017 – 2023).
In recent years, Middle East is looking to reduce its dependency on the oil & gas sector, by looking to diversify its portfolio though investments in various other sectors like chemical, mining among others. In order to achieve stable growth and development in such sectors, the government has started investing. This can provide the right opportunity for the electric submersible pumps market to expand and grow in the middle-east region.
Get Sample of Report @ https://www.marketresearchfuture.com/sample_request/1351
Electric Submersible Pumps Global Market - Competitive Analysis
Characterized by the presence of several well-established and small players, the global Market of electric submersible pumps appears to be highly competitive. The electric submersible pumps market is characterized by technology sophistication and high capital investments. Many of the companies aim at attaining competitive advantage by entering collaborations & acquisitions and to mitigate the bargaining power of suppliers. Moreover, vendors operating in the electric submersible pumps market strive to deliver the best quality products and services based on innovative technologies, and best practices. Electric submersible pumps market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further.
Industry News
On 2 September 2017, Saudi Aramco and Baker Hughes announced the first installation of the TransCoil rigless-deployed electrical submersible pumping (ESP) system, which is designed to help operators bring wells on production faster and lower the costs associated with installing and replacing ESPs.
On Oct 2016, General Electric Co.'s and Baker Hughes Inc. completed its merger. The new company is the first and only to bring together industry-leading equipment, services and digital solutions across the entire spectrum of oil and gas development.
July 5, 2017 – Halliburton Company announced the acquisition of Summit ESP, a leading provider of electric submersible pump (ESP) technology and services. The addition of Summit’s artificial lift offerings and industry-leading customer service strengthens Halliburton’s artificial lift portfolio for its global customers.
Electric Submersible Pumps Market - Segmentation
Global Electric Submersible Pumps Market is segmented in to 2 Key dynamics for an easy grasp and enhanced understanding.
Segmentation by Well Type: land and offshore
Segmentation by Components: Power Cables, Multi staged Centrifugal Pump, and Three Phase Induction Motors
Segmentation by Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
Get Complete Report @ https://www.marketresearchfuture.com/reports/electric-submersible-pumps-market-1351
Electric Submersible Pumps Market - Regional Analysis
North America is currently the leading in electric submersible pumps market and is followed by Europe and Asia. Whereas, Europe was the largest consumer of ESPs, It is likely to remain the largest market for ESPs throughout the forecast period, primarily due to an increasing number of mature fields in Russia, Norway, Kazakhstan, and the U.K. Rapidly increasing shale oil production in the U.S. and production from oil sand in Canada are the primary contributors to the market growth of ESP installations in North America. Moreover, electric submersible pumps market is expected to grow, owing to factors such as increasing industrialization; investment in water infrastructure, chemicals, power, and oil & gas, upsurge in infrastructural development projects, rising standards of living & growing urbanization and higher demand for proper sanitation.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Contact
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
Maharashtra, India
+1 646 845 9312
Email:sales@marketresearchfuture.com
Prominent Players
Grundfos Pumps Corporation (Denmark), Walrus America Inc (U.S.), Baker Hughes (U.S.), Schlumberger Limited (U.S.), Halliburton Company (U.S.), Falcon Pumps Pvt. Ltd. (India), Borets Company (U.S.), JSC Novomet-Perm (Russia), Torqueflow Sydex Ltd.(U.K.), Weatherford International (U.K) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Electric Submersible Pumps Market.
Electric Submersible Pumps Global Market - Overview
In the oil and gas industry, electric submersible pump (ESP) systems are probably best known as an effective artificial lift method of pumping production fluids to the surface. It is a multi-stage centrifugal pump that is coupled to a sealed motor, then lowered down a wellbore and used for fluid abstraction. It supplements the natural driving force of the reservoir and increases the production rate by reducing the flowing bottom-hole pressure. The pump itself is a multi-stage unit with the type and number of stages being determined by the operating requirements of each well application. It is used over a wide variety of applications because they have a simple design that produces high efficiency. Electric submersible pumps market is one of the fastest growing markets owing to its increased applications across various end-use industries such as pharmaceutical, cosmetics, water treatment, mining, chemical, oil & gas and others.
The market is driven by various factors such as technical advantages of the electric submersible pumps and its increasing applications across various end-use industries. Moreover, due to cost increase in the current energy market, the requirement for power consumption evaluation and improvement for electrical submersible pump (ESP) systems remains strong. However, electric submersible pumps market has various restraints that hinder the growth of the market such as the high overhead costs and the design constraints.
According to a recent study report published by the Market Research Future, The global market of electric submersible pumps is booming and expected to gain prominence over the forecast period. The global electric submersible pumps market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a CAGR of 5.24% during the estimated period (2017 – 2023).
In recent years, Middle East is looking to reduce its dependency on the oil & gas sector, by looking to diversify its portfolio though investments in various other sectors like chemical, mining among others. In order to achieve stable growth and development in such sectors, the government has started investing. This can provide the right opportunity for the electric submersible pumps market to expand and grow in the middle-east region.
Get Sample of Report @ https://www.marketresearchfuture.com/sample_request/1351
Electric Submersible Pumps Global Market - Competitive Analysis
Characterized by the presence of several well-established and small players, the global Market of electric submersible pumps appears to be highly competitive. The electric submersible pumps market is characterized by technology sophistication and high capital investments. Many of the companies aim at attaining competitive advantage by entering collaborations & acquisitions and to mitigate the bargaining power of suppliers. Moreover, vendors operating in the electric submersible pumps market strive to deliver the best quality products and services based on innovative technologies, and best practices. Electric submersible pumps market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further.
Industry News
On 2 September 2017, Saudi Aramco and Baker Hughes announced the first installation of the TransCoil rigless-deployed electrical submersible pumping (ESP) system, which is designed to help operators bring wells on production faster and lower the costs associated with installing and replacing ESPs.
On Oct 2016, General Electric Co.'s and Baker Hughes Inc. completed its merger. The new company is the first and only to bring together industry-leading equipment, services and digital solutions across the entire spectrum of oil and gas development.
July 5, 2017 – Halliburton Company announced the acquisition of Summit ESP, a leading provider of electric submersible pump (ESP) technology and services. The addition of Summit’s artificial lift offerings and industry-leading customer service strengthens Halliburton’s artificial lift portfolio for its global customers.
Electric Submersible Pumps Market - Segmentation
Global Electric Submersible Pumps Market is segmented in to 2 Key dynamics for an easy grasp and enhanced understanding.
Segmentation by Well Type: land and offshore
Segmentation by Components: Power Cables, Multi staged Centrifugal Pump, and Three Phase Induction Motors
Segmentation by Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
Get Complete Report @ https://www.marketresearchfuture.com/reports/electric-submersible-pumps-market-1351
Electric Submersible Pumps Market - Regional Analysis
North America is currently the leading in electric submersible pumps market and is followed by Europe and Asia. Whereas, Europe was the largest consumer of ESPs, It is likely to remain the largest market for ESPs throughout the forecast period, primarily due to an increasing number of mature fields in Russia, Norway, Kazakhstan, and the U.K. Rapidly increasing shale oil production in the U.S. and production from oil sand in Canada are the primary contributors to the market growth of ESP installations in North America. Moreover, electric submersible pumps market is expected to grow, owing to factors such as increasing industrialization; investment in water infrastructure, chemicals, power, and oil & gas, upsurge in infrastructural development projects, rising standards of living & growing urbanization and higher demand for proper sanitation.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Contact
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
Maharashtra, India
+1 646 845 9312
Email:sales@marketresearchfuture.com
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