Global Electrical Submersible Pumps Market to Exhibit 8.94% CAGR owing to Rising Oil Exploration Activities
Transparency Market Research has announced the publication of a new detailed market intelligence report that examines the global electrical submersible pumps market. The report states that the market will expand at a healthy 8.94% CAGR over the period between 2014 and 2022. If the predictions come true, the market will expand from a valuation of US$10.6 bn in 2013 to US$16.7 bn by 2022. The report is titled “Electrical Submersible Pumps - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2014 - 2022” and is available on the company website for sale.
Browse the full Electrical Submersible Pumps (ESPs) Market By Application (Onshore and Offshore) - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2014 - 2022 report at https://www.transparencymarketresearch.com/electrical-submersible-pumps-market.html
The report presents an expansive account of all major elements of the global market for electrical submersible pumps (ESPs), which are multistage centrifugal pumps that are designed for operating in a vertical position. ESPs primarily find application in the oil and gas industry for handling significant volumes of oil, water, and other heavy liquids in wellbores. These economically designed submersible pumps are designed for oil and water wells that feature output in the range of 200 bpd to 60,000 bpd and are up to 15,000 feet deep.
There are several factors that are leading to an increased demand for electrical submersible pumps, the prominent ones being the rising global investments in brown field and green field projects from exploration and production companies and the rising oil production from conventional and unconventional sources.
The report segments the global electrical submersible pumps market on the basis of two criteria: application and geography.
On the basis of application, the market has been segmented into onshore and offshore activities. Based on their suitability for onshore or offshore applications, the configuration of ESP systems significantly differs to suit the vastly different operating environments in onshore and offshore sites. In onshore oilfields, for instance, the cost of surface equipment is less as compared to that in offshore oilfields, as the pumping systems in offshore fields are mounted with additional protective equipment. In 2013, the segment of onshore electrical submersible pumps accounted for a dominant share of 76.16% in the global market.
On the basis of geography, the report segments the global electrical submersible pumps market into Europe, North America, Asia Pacific, South and Central America, and the Middle East and Africa. Apart from giving detailed quantitative as well as qualitative data pertaining to key market elements for these regional markets, the report also includes a market attractive analysis of the global electrical submersible pumps market on the basis of geography.
The report also presents a detailed overview of the competitive scenario of the global electrical submersible pumps market. Baker Hughes Incorporated, Schlumberger Limited, Halliburton Company, Borets Company, LLC, GE Oil & Gas, JSC Novomet-Perm, Torqueflow Sydex Ltd., Weatherford International, and Flotek Industries, Inc. are some of the prominent vendors operating in the global ESP market. Apart from the detailed business profiles of these companies, the report also covers key aspects such as SWOT analysis, recent technological developments, financial overview, and business strategies.
The market has been segmented into:
ESPs Market: By Application
ESPs Market: By Region
- North America
- Rest of North America
- Asia Pacific
- Rest of Asia Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- South & Central America
- Rest of South & Central America
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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