Market Highlights:-
Electrical 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 2018-2027. The highly competitive Market of ESPs promises a good fortune in the years to (2018-2027).
A submersible pump is a mechanical equipment used for transferring several types of fluid and is largely preferred for agricultural and industrial applications. This pump is vertically submerged under the fluid to be transported and is driven by electric current, operating on the principle of centrifugal force. Several kinds of submersible pumps are available in the market, for serving different purposes.
Industry Top Key Players:-
- Xylem, Inc.
- Sulzer AG
- KSB Group
- Grundfos Group
- Ebara Corporation
- Flowserve Corporation
- Tsurumi Manufacturing Co., Ltd
- Gorman-Rupp Company
- General Electric Company
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Electric Submersible Pumps Market – Segments
Global 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.
Industry/ Innovation/ Related News
November 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 – 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.
Table 1 Global Submersible Pumps Market: By Region, 2018-2023
Table 2 North America Submersible Pumps Market: By Country, 2018-2023
Table 3 Europe Submersible Pumps Market: By Country, 2018-2023
Table 4 Asia-Pacific Submersible Pumps Market: By Country, 2018-2023
Table 5 RoW Submersible Pumps Market: By Country, 2018-2023
Table 6 Global Submersible Pumps Market, By Well Type, By Regions, 2018-2023
Table 7 North America Submersible Pumps Market, By Well Type, By Country, 2018-2023
Table 8 Europe Submersible Pumps Market, By Resin Type, By Country, 2018-2023
Table 9 Asia-Pacific Submersible Pumps Market By Well Type, By Country, 2018-2023
Table 10 RoW Submersible Pumps Market By Well Type, By Country, 2018-2023
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.
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