Electric Submersible Pumps (ESP) Market Prophesied To Perceive A Significant Growth By 2027; Asserts MRFR

Pune, India, November 27,2017/MRFR Press Release/- Market Research Future published a cooked research report on “Global Electric Submersible Pumps Market Research Report - Forecast to 2027”– Market Analysis, Scope,Stake,Progress,Trends and Forecast to 2027Grundfos 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., and Weatherford International are some of the leading players profiled in MRFR Analysis and are at the forefront of competition in the Global Electric Submersible Pumps Market. Electric Submersible Pumps Market   - OverviewElectrical Submersible Pumps are Low maintenance, small sized hence portable and highly efficient in terms of output. And these very factors not only make ESPs popular but also drive the ESP market. The demand for submersible pumps from agriculture and wastewater treatment industries is expected to remain significant throughout the forecast period. Development of new sources of safe drinkable water and small and medium scale industrial development are further expected to push the demand for submersible pumps over the forecast period 2017-2027. The highly competitive Market of ESPs promises a good fortune in the years to (2017-2027).

Accrediting the prominence Electric Submersible Pumps are gaining in the current scenario and projecting the traction its growing market size would gain in the future, the Market Research Future, recently published a brilliant study report according to which the global Electric Submersible Pumps market is forecasted to demonstrate a quadrupled growth by 2027, crossing its previous growth records in terms of value posting a whooping CAGR during the estimated period (2017 – 2027).  The Global Electric Submersible Pumps market is forecasted to perceive substantial growth accruals by 2027, registering substantial expansion rate during the period 2017 to 2027.

The Global ESP market is growing and widening owing to the infrastructural development activities around the globe. The Focused efforts on urbanization, industrialization, and agricultural development of the Governments of developing countries such as China and India; is expected to drive the demand for Submersible pumps in the region.

Browse In-depth Detailed Research Report [Table of Content, List of Figures, List of Tables] of Global Electric Submersible Pumps Market Trends

Electric Submersible Pumps Market   - Competitive Analysis The global Market of Electric Submersible Pumps appears 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. Manufacturers operating in the Electric Submersible Pumps market strive to develop a state of art manufacturing facilities. They continue to seek candidate wells for the next phase of testing with the turned focus to a well that produces a larger percentage of oil versus water, at a depth and pumping rate that is different from the previous test.  They also continue to pursue installations of the ESPs with other clients that express an interest in providing them with an oil well to further test ESPs so that they can validate its numerous benefits.  Based on the lead-time for delivery of certain components, these key players ensure that the next round of testing is focused on delivering results of extending operating time and proving out the cost reduction benefits of the ESPs. Their vision is to be a premier supplier of submersible pumping products that increase production while reducing costs and carbon footprint. 

DIVERGENT Energy Services Corp. (Canada) provider of an array of Electromagnetic Pumps, Electric Submersible Pumps, and Electric Submersible Progressing Cavity Pumps states that they continue to make progress with the Linear Pump technology with their overseas partner.  The exclusivity agreement provides these key players with the rights to deploy the technology. The commercialization of their Linear Pump is complementary to their existing electric submersible pump (“ESP”) business, and will provide oil and gas companies the opportunity to capitalize on the Linear Pump’s many benefits while differentiating Divergent within a competitive and growing market.Industry/ Innovation/ Related NewsNovember 20, 2017 - Los Alamos National Laboratory, operated by Los Alamos National Security, LLC (USA), won eight awards for technologies/ R&D at R&D Magazine's annual ceremony in Orlando, Florida. One of among 8 awards is for “High-Temperature Electric Submersible Pump Motor (HT-ESP)”: Keeping pump motors cool in deeper, extremely hot environments. These diverse inventions include applications for clean energy technology and several of these technologies, developed through partnerships, are already available to the public.

October 30, 2017 – Borets Seven Seas & Co, Dubai, announced that they are expanding in Oman by opening a $7.5m pump factory in Oman’s Sohar Industrial Estate on 29 October, 2017. The facility will assemble and service ESPs, which provide an efficient and reliable artificial-lift method for extracting moderate to high volumes of fluids from wellbores, for use in oil and water wells. Petroleum Development Oman (PDO) has announced that it has received the first Oman-made electric submersible pump (ESP) system for its oil operations from Borets factory in Sohar.

October 30, 2017 – DIVERGENT Energy Services Corp. (Canada) announced that it has been awarded a three-year preferred service contract to supply electric submersible pumps (ESP) and services. DIVERGENT, through its wholly owned US subsidiary Extreme Pump Solutions, LLC and Carbon Creek Energy, LLC have entered into an exclusive preferred product and services agreement where Extreme will provide electric submersible pumps and services for a period of three years in Carbon Creek’s Coal Bed Methane project in the Powder River Basin.  Carbon Creek is a leader in coal-bed natural gas production with 6,800 natural gas wells, and the agreement will provide Extreme with a strong and sustainable base of revenue with an incentive that increases profitability as pump performance improves.

Electric Submersible Pumps Market   - SegmentsGlobal Electric Submersible Pumps Market is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.

Segmentation By Well Type             :  Comprises - Land and Offshore`.

Segmentation By Components         :  Comprises - 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.

Electric Submersible Pumps Market –

Regional Analysis

North America is the leading region for this market mainly due to increased offshore exploration activities. Technological development and increasing demand for Oil & Gas has also significantly contributed to the high demand in the North American region. Asia-Pacific and Europe are other leading regions due to the increasing production from matured oil fields in this region.

Chinese players of ESP Market are offering comparatively low price; this well planned move is challenging the other players in the regional and global market.