Electric Submersible Pumps Market Set to Surpass US$ 18 Billion by 2032 Amid Rising Energy Demand and Industrial Expansion | Persistence Market Research

The global electric submersible pumps (ESP) market is witnessing robust growth, driven by expanding energy demands, industrial development, and rising environmental consciousness. According to the Persistence Market Research report, the market is projected to grow from US$ 11,741.3 million in 2025 to US$ 18,007.3 million by 2032, at a CAGR of 6.3% during the forecast period. This surge is largely fueled by the increasing adoption of ESPs in the oil & gas sector, which remains the market's dominant end-user.

Get a Sample PDF Brochure of the Report (Use Corporate Email ID for a Quick Response): https://www.persistencemarketresearch.com/samples/35330

As global oil demand rises, with Asia-especially China-contributing significantly due to its expanding petrochemical sector, electric submersible pumps are essential for enhanced oil recovery and deep-well operations. The water and wastewater treatment segment also fuels market growth, as infrastructure improvements and circular economy goals spur investments in treatment technologies. ESPs, known for their efficiency and ability to operate in harsh environments, are increasingly favored in municipal and industrial wastewater management.

Key Highlights from the Report:

✦ The oil & gas sector is the leading end-user, expected to account for 45.3% of the market in 2025.
✦ Increasing investments in wastewater treatment and irrigation are driving demand for ESPs.
✦ Multistage ESPs dominate, holding 78.3% market share in 2025 due to their deep-well performance.
✦ East Asia holds 24.5% of the global market share, driven by China's industrial and petrochemical expansion.
✦ Middle East & Africa remain vital due to high demand from oil, mining, and agriculture sectors.
✦ Companies like Sulzer, Xylem, and Kirloskar are focusing on energy efficiency and rugged pump design.

⚙️ Market Segmentation

The electric submersible pumps market is segmented based on mode of operation and end-use industries. Multistage ESPs form the largest segment, accounting for approximately 78.3% of the market in 2025. Their capacity to efficiently handle deep-well extraction in oilfields and water wells makes them highly sought after. Single-stage pumps are preferred in shallow wells and less demanding applications.

By end-use, the oil and gas industry dominates, holding a 45.3% market share, due to its extensive use of ESPs for high-volume oil production and enhanced recovery operations. Water and wastewater treatment, mining, and agriculture are also key sectors. The agriculture sector, in particular, relies heavily on ESPs for irrigation, especially in regions facing water scarcity.

🌍 Regional Insights

Asia Pacific: East Asia is a growth hotspot, commanding 24.5% of the global ESP market in 2025. China leads in demand, thanks to its booming petrochemical and industrial sectors, along with significant mineral extraction activities. Mining operations across the region further support the use of ESPs, especially in remote and rugged terrains.

Middle East & Africa: These regions show strong demand due to their resource-rich environments. The Middle East accounts for over 40% of global oil exports, fueling substantial ESP use in oil extraction. Africa's vast mineral reserves and agricultural reliance support widespread adoption of ESPs in dewatering and irrigation applications.

North America & Europe: North America benefits from local manufacturing initiatives, especially under the Build America Buy America Act, with U.S. oil production supporting ESP usage. Europe maintains a presence in the ESP market, with legacy infrastructure in oil and wastewater applications, although shifting toward renewable energy.

🚀 Market Drivers

Rising demand for energy-efficient and application-specific pumping solutions is a key market driver. As industries seek to reduce operational costs and carbon footprints, ESP manufacturers innovate with corrosion-resistant materials, clog-resistant hydraulics, and digital optimization tools. Companies like Sulzer and Xylem have launched new models with high-head capabilities and extended service intervals, addressing mining and wastewater challenges.

❌ Market Restraints

High operational and maintenance costs hinder market expansion, especially in harsh environments. ESPs deployed in oilfields, deep mining pits, or wastewater facilities are exposed to high pressure, heat, and corrosive fluids, resulting in increased wear. Frequent servicing raises total cost of ownership, limiting adoption in cost-sensitive sectors and regions.

✨ Market Opportunities

Increasing global oil supply and upstream activity create strong opportunities. Production increases in the U.S., Iran, Venezuela, and Kazakhstan drive demand for artificial lift systems like ESPs. The expected supply surplus and growing oil demand in Asia further encourage adoption. Greenfield and brownfield oil projects, particularly those emphasizing efficiency and uptime, are propelling ESP sales.

Do You Have Any Query Or Specific Requirement? Request Customization of Report: https://www.persistencemarketresearch.com/request-customization/35330

Reasons to Buy the Report:

✔ Understand the market size, share, and growth trends from 2019 to 2032
✔ Identify key segments driving market expansion across regions and applications
✔ Access insights into leading players' strategies and technological innovations
✔ Evaluate investment opportunities in high-growth sectors like oil & gas and wastewater
✔ Stay updated with regional trends, including policies and market-specific opportunities

💼 Company Insights

• Sulzer
• Kirloskar Brothers Limited
• KSB Company
• Multiquip Inc
.• GRUNDFOS
• Hitachi America
• Xylem Inc.
• Caprari
• Crompton Greaves Consumer Electricals Limited
• Weatherford
• TSURUMI PUMP
• ZUWA-Zumpe GmbH
• Homa Pumpenfabrik GmbH

Recent Developments:

In March 2025, Xylem launched the Flygt 2450 submersible pump for mining, with a 6,000-hour service interval and high-head capacity.

In April 2024, Sulzer introduced ContraBlock Evo hydraulics for its XFP wastewater pump line, improving energy efficiency and reducing clogging.

Conclusion

The electric submersible pumps market is entering a growth-intensive phase driven by rising oil and gas exploration, expanding water treatment infrastructure, and increased agricultural mechanization. Demand is further bolstered by advancements in pump technology, local manufacturing strategies, and digital innovations that ensure operational efficiency and long-term sustainability. As key sectors like mining, construction, and energy transition continue to evolve, the role of ESPs will become more critical, providing indispensable support in both developed and developing economies. Companies focusing on durability, customization, and eco-conscious solutions will be best positioned to lead the market into its next phase of expansion.

Persistence Market Research
G04 Golden Mile House, Clayponds Lane
Brentford, London, TW8 0GU UK
USA Phone: +1 646-878-6329
UK Phone: +44 203-837-5656
Email: sales@persistencemarketresearch.com
Web:
https://www.persistencemarketresearch.com

About Persistence Market Research:

At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.

Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.

This release was published on openPR.