Press release
Submersible Pumps Market Market Size And Historical Analysis| International Top Key Player: General Electric Company ,Xylem, Inc, Flowserve Corporation| Industry Trends by Forecast 2023.
This report provides an in-depth analysis of the global submersible pumps market, tracking market segments and geographic regions. The report also provides a forecast, focusing on the market opportunities for the next five years for each region.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).
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Key Players
The key players of the global submersible pumps market are Xylem, Inc. (U.S.), Sulzer AG (Switzerland), KSB Group (Germany), Grundfos Group (Denmark), Ebara Corporation (Japan), Flowserve Corporation (U.S.), and Tsurumi Manufacturing Co., Ltd (Japan). Gorman-Rupp Company (U.S.), General Electric Company (U.S.), WILO SE (Germany), The Weir Group Plc (Scotland), Walrus Pump Co., Ltd. (Taiwan), Atlas Copco AB (Sweden), and Kirloskar Brothers Limited (India) are among others.
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.
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 – 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.
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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.
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.
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