Global Electric Submersible Pump Market Growth 2023-2029

Global Electric Submersible Pump Market Growth 2023-2029

Electrical Submersible Pumps (ESP) are one of the most reliable and efficient ways to lift fluids to the surface, both oil and water. As the name suggests, it is submerged into the reservoir fluids and pushes the fluid to the surface. The ESP pumps can be designed to handle fluids of up to 60,000 b/d and cover various well conditions and production profiles, and generally a low cost solution for high volumes of lifting.



Submersible pump to fundamentally eliminate the phenomenon of air resistance, the use of positive pressure push the principle of a fundamental solution to the high-temperature environment, high-lift, long-range conditions, pipeline pump, volumetric pumps, vane pumps and other negative work principle of the electric pump cannot solve the problem (such as less oil, not even the drawbacks of oil).

LPI (LP Information)' newest research report, the “Electric Submersible Pump Industry Forecast” looks at past sales and reviews total world Electric Submersible Pump sales in 2022, providing a comprehensive analysis by region and market sector of projected Electric Submersible Pump sales for 2023 through 2029. With Electric Submersible Pump sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Electric Submersible Pump industry.

This Insight Report provides a comprehensive analysis of the global Electric Submersible Pump landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Electric Submersible Pump portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Electric Submersible Pump market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Electric Submersible Pump and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Electric Submersible Pump.

The global Electric Submersible Pump market size is projected to grow from US$ 2933.6 million in 2022 to US$ 5300.2 million in 2029; it is expected to grow at a CAGR of 5300.2 from 2023 to 2029.

Russia is the largest market with about 24% revenue market share. Followed by USA, accounting for about 21% revenue market share.

The key players are Schlumberger, Borets Company, General Electric, GE (Baker Hughes), Halliburton, Canadian Advanced ESP, Lvpai, Lishen Pump, Shengli Pump etc. Top 3 companies occupied about 51% revenue market share.

This report presents a comprehensive overview, market shares, and growth opportunities of Electric Submersible Pump market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Low Temperature ESP
High Temperature ESP

Segmentation by application
Onshore
Offshore

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Schlumberger
Borets Company
General Electric
GE (Baker Hughes)
Halliburton
Canadian Advanced ESP
Lvpai
Lishen Pump
Shengli Pump

Key Questions Addressed in this Report

What is the 10-year outlook for the global Electric Submersible Pump market?

What factors are driving Electric Submersible Pump market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Electric Submersible Pump market opportunities vary by end market size?

How does Electric Submersible Pump break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.