Press release
Electric Submersible Cables Market Precise Study on Factors, Drivers and Key Players Strategies Analyzed Till 2026
Electric submersible cables, commonly known as electrical submersible pump cables or ESP cables, are specially designed cables that provide power to submersible pumps used for artificial lift of oil and gas resources, offshore drilling rigs, irrigation, mine dewatering, drinking water supply, sewage treatment plants, industries, fountains, seawater filtration plants, swimming pools, and aquariums. In the oil & gas industry, electric submersible cables are especially designed to withstand high temperature and abrasive environment of the downhole well, wherein the electric submersible pump is installed. These cables provide power to Electrical Submersible Pumps from the surface power source for pumping crude oil from the hydrocarbon reservoir to the well surface. The reliability of the undisrupted electrical power supply to an electrical submersible pump system in an oil well depends on the performance of the power feed through the equipment utilized for power transfers such as power cable, pig tail connectors, and motor lead cables. Electric submersible cables can be manufactured in either flat or round cross-section. The choice between the two is typically based on space between production tubing and well casing. Selection of high quality electric submersible cables is of utmost importance, as when electric submersible cables fail, maintenance costs rise and production revenue plummets.Click Here, To Get Sample Copy of New Research Electric Submersible Cables Market Report @ https://www.mrrse.com/electric-submersible-cables-market
Increase in Demand for Electrical Submersible Pumps Likely to Drive the Market
Demand for electric submersible cables is almost directly proportional to the demand for electrical submersible pumps in various industries. Demand for electric submersible pumps for irrigation purposes is also rising owing to the increase in agriculture activities and decline in water sources. Demand for electrical submersible pumps in the water and wastewater industry is also increasing at a rapid pace. Shift in trend toward artificial lift systems for the production of crude oil in the oil & gas industry is also estimated to boost the demand for electrical submersible pumps. This, in turn, is projected to propel the number of oil wells based on electrical submersible pumps. The overall growth in demand for electrical submersible pumps across end-user industries is likely to drive the demand for electric submersible cables.
With the end of easy oil era the newly discovered oil and gas reservoirs are located at a much greater depth. Maturing oil wells and depleting oil reserves are prompting exploration & production companies to drill deeper. This has lead to an increase in the overall depth of an oil well for extracting these resources. In turn, this has resulted in deeper electrical submersible pump settings, thereby boosting the demand for electric submersible cables that are employed to supply power from the power source to the pump motor.
The report provides the actual market size of electric submersible cables for 2017 and estimated market size for 2018 with forecast for the next eight years. The global market for electric submersible cables has been provided in terms of revenue. Market revenue has been defined in US$ Million. Market numbers have been estimated based on ESP cable type, insulation, and end-user industry of electric submersible cables. Market size have been provided in terms of global, regional, and country level markets.
The report comprises profiles of major companies operating in the global electric submersible cables market. Key players in the electric submersible cables market are Baker Hughes, Schlumberger Limited, Prysmian Group, Nexans, Siemens AG, Borets, Halliburton, The Kerite Company, Havells, Jainson Cables, V-GUARD INDUSTRIES LTD., Superstar Cables, Southwire Company, LLC, and Alkhoorayef Petroleum. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, regional presence, and recent developments.
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The global electric submersible cables market has been segmented as follows:
Electric Submersible Cables Market, by ESP Cable Type
ESP Flat Power Cable
ESP Round Power Cable
Electric Submersible Cables Market, by Insulation
Polypropylene
Ethylene Propylene Diene Monomer (EPDM)
Electric Submersible Cables Market, by End-user Industry
Oil & Gas
Agriculture
Mining
Construction
Others
Electric Submersible Cables Market, by Region
North America
S.
Canada
Europe
Germany
K.
Russia & CIS
Norway
Rest of Europe
Asia Pacific
China
India
Australia
ASEAN
Rest of Asia Pacific
Latin America
Brazil
Mexico
Venezuela
Rest of Latin America
Middle East & Africa (MEA)
GCC
South Africa
Nigeria
Rest of Middle East & Africa
Key Takeaways
The ESP flat power cable segment accounts for a prominent share due high demand for the cables from end-user industries
Analysis and benchmarking of electric submersible cable pricing across all the regions
Recovering crude oil prices and maturing oil wells and depleting oil reservoirs along with increasing demand for electrical submersible pumps are expected to drive the electric submersible cables market in the near future
In terms of end-user, the oil & gas industry segment is anticipated to expand at a significant rate during the forecast period
EPDM is the major insulation segment for electric submersible cables
Europe is anticipated to dominate the market during the forecast period
The market in Middle East & Africa is expected to expand at a significant rate during the forecast period among all the regions
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