Press release
North America Oil and Gas Electric Submersible Pump Market 2021 Disclosing Latest Trends and Advancement Outlook 2026
The North America Oil and Gas Electric Submersible Pump Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the North America Oil and Gas Electric Submersible Pump market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the North America Oil and Gas Electric Submersible Pump market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the North America Oil and Gas Electric Submersible Pump market.The oil and gas electric submersible pump market in North America is expected to grow at CAGR of more than 7% in the forecast period of 2020 - 2025.
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Top Leading Companies of North America Oil and Gas Electric Submersible Pump Market are - Halliburton Company, Weatherford International plc, National Oilwell Varco Inc., Baker Hughes Company, Borets International Limited, Alkhorayef Petroleum Company, DOS Canada Inc., Schlumberger Limited and others.
Key Market Trends:
Onshore Sector to Dominate the Market
- The electric submersible pump (ESP) system is an artificial-lift system that utilizes a downhole pumping system that is electrically driven. The pump typically comprises multiple centrifugal pump sections that can be individually configured ideally for the production and wellbore characteristics of an application.
- Canada has third-largest oil reserves, of which 96% are comprised of oil sands reserves. The sand oil available here is high-density oil and has high sand particle content. Hence, there is a high demand for artificial lift systems, and in turn, for ESPs as they are suitable for lifting high-density fluids.
The United States to Dominate the Market
- The United States was one of the largest producers of crude oil and natural gas, accounting for around 18% and 23% of the global production, respectively, in 2019. The production surged in 2019, mainly due to robust drilling in its shale reserves, led by the Permian Basin.
- It is expected that around USD 76 billion will be spent on 97 upcoming oil and gas projects in the country between 2018 and 2025. Such robust growth in terms of new projects is projected to create a demand for new ESPs systems in the United States, in the longer run.
Investigator Observers Strong Growth in Specific Regions:
– Europe Market (Germany, UK, France, Russia, Italy)
– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)
– South America Market (Brazil, Argentina, Colombia)
– North America Market (United States, Canada, Mexico)
– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).
The Latest Industry Data Included in this Report:
- North America Oil and Gas Electric Submersible Pump Market Size & Analysis (2016 - 2026)
- Market Share Analysis of North America Oil and Gas Electric Submersible Pump Market (%),2016 - 2026
- North America Oil and Gas Electric Submersible Pump Market Share, By Brand
- North America Oil and Gas Electric Submersible Pump Market Share, By Company
- North America Oil and Gas Electric Submersible Pump Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies North America Oil and Gas Electric Submersible Pump Market Value Analysis & Forecast
- Promising North America Oil and Gas Electric Submersible Pump Development by Major Companies
- Detailed North America Oil and Gas Electric Submersible Pump Portfolio of the Major Companies
- Major Deals in the North America Oil and Gas Electric Submersible Pump Market
- Major Companies Analysis
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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