Global Submersible Pump Market Key Players (Baker Hughes A GE Co, Schlumberger Limited) Forecast 2023

In Addition, This Report Highlights the Growth Strategies Adopted by The Major Market Players to Garner Large Shares in The Submersible Pump Market. Submersible Pump Market covers drivers, restraints, opportunities, challenges, and market trends. The report also covers the product portfolio analysis of the Submersible Pump products and vendor benchmarking of the top players in this market.

A Submersible Pump (or sub pump, electric submersible pump (ESP)) is a device which has a hermetically sealed motor close-coupled to the pump body. The whole assembly is submerged in the fluid to be pumped. The main advantage of this type of pump is that it prevents pump cavitation, a problem associated with a high elevation difference between pump and the fluid surface. Submersible pumps push fluid to the surface as opposed to jet pumps having to pull fluids. Submersibles are more efficient than jet pumps.

The major consumers of the Submersible Pumps are water and wastewater sector, oil & gas industry, mining industry, and agriculture industry. The increasing regulations on wastewater treatment, and growing exploration and production activity, particularly offshore, are expected to be the major drivers of the market. The slow growth of agriculture sector is expected to restrain the market during the forecast period.

A separate section with Submersible Pump industry key players is included in the report, which provides a comprehensive analysis of price, cost, gross, revenue, product picture, specifications, company profile, and contact information. Development and Research plays a vital role towards the innovation in any given industry which require to execute. Additionally, performing research and development offers a competitive advantage over the competitors owing to regular introduction of products and prototypes to attract consumers. This is expected to have a positive impact on the Submersible Pump market growth over the forecast period.

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MAJOR PLAYERS - Baker Hughes A GE Co, Schlumberger Limited, Halliburton Company, Weir Group PLC, Sulzer AG, Grundfos Group, amongst others.

Slower Growth of Agriculture Sector to Restrain the Market

The global population growth rate is expected to decline during the forecast period, which in turn is expected to decrease the demand for agriculture products. Furthermore, the cost of the fertilizers is growing. Many countries, particularly developed countries in Europe, due to concerns over air pollution, have put in place stricter regulations on the use of fertilizers, which in turn has hampered the agricultural production. The slow growth of agricultural product consumption, increase in the cost of fertilizers, and stricter regulations are expected to restrain the growth of the agricultural industry, in turn, resulting in lower demand for submersible pumps in the agriculture industry.

Growing Oil & Gas Activity to Drive the Market in North America

The oil & gas production in the two major oil producing regions in the United States, Permian Basin of Texas and Gulf of Mexico, registered a CAGR of about 13.5%, during the 2014-17 period. The US government also announced that it plans to open almost all the US waters for exploration & production activity in the coming years. The offshore industry contributes heavily to the market, due to the requirements of a large number of sophisticated submersible pumps. Canada, with stability in oil prices, is expected to experience increasing investments in the oil & gas industry, allowing private players to explore some of its most prominent oil sand reserves. The growing production from existing fields in the US and supportive government policy to encourage upstream activity in the US and Canada are expected to drive the oil and gas activity, in turn, resulting in increased demand for the submersible pump in the region during the forecast period.

Growing Investments in Mining Industry to Drive the Market in India

In 2016, India was the third-largest producer of coal and crude steel in the world. The country has the fifth-largest coal reserve in the world. India allows 100% foreign direct investment (FDI) in the mining industry. In recent years, the Government of India has introduced policies to encourage mining activities. Owing to supportive government policies, major investments are expected during the forecast period in the mining industry. Vedanta Resources PLC has announced its plan to invest USD 9 billion in India’s mining industry. Growing investments are expected to drive the demand for submersible pumps in the mining industry during the forecast period.

Key Developments in the Market

August 2017: PumpMan Holdings LLC announced that it has completed the acquisition of Bartley Pump. Bartley Pump specializes in the different type of water pumps, including the submersible pumps. The acquisition is expected to help PumpMan Holding in expanding its business in the agriculture sector.

Reasons to Purchase This Report

Current and future submersible pump market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to the witness fastest growth during the forecast period
Identify the latest developments and strategies employed by the major market players
3 months analyst support, along with the Market Estimate sheet (in excel)

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Submersible Pump Market Forecast 2018-2023

The Submersible Pump industry research report analyses the supply, sales, production, and market status comprehensively. Production market shares and sales market shares are analysed along with the study of capacity, production, sales, and revenue. Several other factors such as import, export, gross margin, price, cost, and consumption are also analysed under the section Analysis of Submersible Pump production, supply, sales and market status.

Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.

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Detailed TOC of Global Submersible Pump Market Forecasts (2018 - 2023)

Introduction
   1.1 Definition of the Market

   1.2 Key Findings of the Study

Research Scope and Methodology
   2.1 Study Deliverables

   2.2 Study Assumptions

   2.3 Research Methodology

   2.4 Research Phases

Market Dynamics
   3.1 Drivers

   3.1.1 Increasing Demand for Submersible Pump

   3.1.2 Evolving R&D Priorities

   3.1.3 Adoption of Submersible Pump

   3.2 Restraints

   3.2.1 Submersible Pump Industry

   3.2.2 Submersible Pump Types and Application

Industry Analysis
    4.1 Porter's Five Forces Analysis

    4.1.1 Bargaining Power of Suppliers

    4.1.2 Bargaining Power of Buyers

    4.1.3 Threats of New Entrants

    4.1.4 Threats of Substitute Products and Services

    4.1.5 Degree of Competition

Market Segmentation
  5.1 By Application

  5.2 By Geography

  5.2.1 North America

  5.2.1.1 US

  5.2.1.2 Canada

  5.2.1.3 Mexico

  5.2.1.4 Others

  5.2.2 Europe

  5.2.2.1 Spain

  5.2.2.2 UK

  5.2.2.3 France

  5.2.2.4 Germany

  5.2.2.5 Russia

  5.2.2.6 Italy

  5.2.2.7 Others

  5.2.3 Asia-Pacific

  5.2.3.1 China

  5.2.3.2 Japan

  5.2.3.3 India

  5.2.3.4 Australia

  5.2.3.5 Others

  5.2.4 South America

  5.2.4.1 Brazil

  5.2.4.2 Argentina

  5.2.4.3 Others

  5.2.5 Africa

  5.2.5.1 South Africa

  5.2.5.2 Others

Competitor Analysis
  6.1 Market Shares of Leading Players

  6.2 Strategies Adopted by Leading Players

Company Profiles
Future Outlook of the Market
Appendix
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