Press release
Electric Submersible Pumps Market Size 2024-2034: Powering Subsurface Productivity
Executive SummaryThe global electric submersible pumps (ESP) market was valued at approximately USD 8.42 billion in 2024 and is projected to grow to around USD 12.11 billion by 2034, registering a compound annual growth rate (CAGR) of 3.70% during the forecast period (2025-2034).
Access key findings and insights from our Report in this sample -https://www.zionmarketresearch.com/sample/electric-submersible-pumps-market
Driven by rising global demand for efficient oil recovery, expanding agricultural irrigation, and growing applications in municipal water systems, ESPs are becoming critical to the optimization of fluid transport operations-especially in deep wells and challenging terrains. The increasing shift toward energy-efficient and automation-enabled pumps further strengthens market prospects.
1. Market Definition and Scope
Electric Submersible Pumps (ESPs) are multi-stage centrifugal pumps operating while fully submerged in liquid. Commonly used in oil wells, irrigation, and municipal water handling, ESPs are known for their high efficiency, compact design, and ability to operate under extreme conditions such as deep wells, corrosive fluids, or high pressures.
Key Application Areas:
Oil & Gas Extraction
Water & Wastewater Management
Agricultural Irrigation
Mining Operations
Industrial Dewatering
2. Market Dynamics
β Market Drivers
π’οΈ Rising Oil & Gas Exploration Activities
ESPs are integral to artificial lift systems used in mature wells.
Increasing oil production in countries such as Saudi Arabia, Russia, and the U.S. is fueling demand.
π§ Growing Focus on Water Management
Rapid urbanization and climate stress have increased the need for efficient groundwater pumping in cities and arid regions.
π Agricultural Sector Expansion
Mechanized irrigation using ESPs supports food security initiatives, especially in Asia-Pacific and Africa.
β‘ Push for Energy-Efficient Infrastructure
Government policies favor low-energy, high-output pumping systems, boosting adoption of VFD-controlled ESPs.
β Market Challenges
High Initial Cost & Maintenance: Installation and retrieval of ESPs in deep wells can be capital intensive.
Wear & Tear in Abrasive Environments: Sand and silt cause early equipment failure.
Power Supply Issues in Remote Areas: Especially limiting in developing markets.
π Market Opportunities
π Smart ESP Systems
Integration with IoT sensors, AI-based flow optimization, and remote diagnostics is gaining momentum.
πΏ Renewable-Powered ESPs
Solar-powered submersible pumps offer new potential in off-grid rural irrigation systems.
π Emerging Markets
Nations in Sub-Saharan Africa, Southeast Asia, and the Middle East are investing in municipal water schemes and groundwater projects.
3. Market Segmentation
π§ By Type
Openwell Submersible Pumps
Borewell Submersible Pumps
Single-stage
Multi-stage
βοΈ By Operation
Vertical
Horizontal
π By Application
Oil & Gas
Water & Wastewater
Agriculture
Mining
Industrial Use
π By Region
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
Do You Have Any Query Or Specific Requirement? Request Customization of Report:https://www.zionmarketresearch.com/custom/9496
4. Regional Insights
π North America
Dominated by oilfield applications in the U.S. (Permian Basin, Bakken).
High adoption of smart ESPs for unconventional wells.
π Asia-Pacific (Fastest Growing Region)
Growth driven by agriculture (India, China) and water management projects (Vietnam, Indonesia).
Significant government investment in rural water access.
π Middle East & Africa
High usage in offshore and onshore oil production (Saudi Aramco, ADNOC).
Africa pushing ESP adoption for deep borehole irrigation.
π Europe
Stable market driven by municipal utilities and environmental compliance.
Focus on energy-efficient retrofits in old pumping stations.
Access our report for a comprehensive look at key insights -https://www.zionmarketresearch.com/report/electric-submersible-pumps-market
5. Competitive Landscape
π’ Key Players
Schlumberger Limited
Baker Hughes Company
Halliburton
Borets International
GE Oil & Gas (now part of Baker Hughes)
Grundfos
Franklin Electric
Wilo SE
Xylem Inc.
KSB Group
CRI Pumps
Sulzer Ltd.
π Key Strategies
Expansion into digital ESP solutions
Joint ventures in emerging markets
Focus on modular and solar-powered designs
6. Recent Developments
2024: Baker Hughes launched a next-gen ESP with embedded AI-based condition monitoring.
2023: Grundfos expanded manufacturing operations in India and Mexico to serve agricultural markets.
2023: Franklin Electric unveiled solar ESP systems targeting Sub-Saharan Africa and off-grid irrigation.
7. Forecast Outlook (2025-2034)
The market will be driven by:
Greater oilfield automation
Need for climate-resilient water infrastructure
Adoption of low-carbon irrigation systems
With improved product durability and digital retrofitting trends, the ESP market is expected to remain stable and expand steadily across sectors.
π Market Summary
Metric Value
2024 Market Size USD 8.42 Billion
2034 Forecast Size USD 12.11 Billion
CAGR (2025-2034) ~3.70%
Dominant Region North America
Fastest Growing Region Asia-Pacific
Top Applications Oil Extraction, Water Supply
Major Trend Smart & Solar ESPs
More Trending Reports by Zion Market Research -
https://kiyatechno.blogspot.com/2025/07/flood-barrier-market-size-global-trends.html
https://kiyatechno.blogspot.com/2025/07/drug-gene-delivery-systems-market-size.html
https://kiyatechno.blogspot.com/2025/07/anti-aging-market-size-share-trends.html
https://kiyatechno.blogspot.com/2025/07/pachymeter-device-market-size-share.html
Asia Pacific Office
3rd Floor,
Mrunal Paradise, Opp Maharaja Hotel,
Pimple Gurav, Pune 411061,
Maharashtra, India
US OFFICE NO +1 (302) 444-0166
US/CAN TOLL FREE +1-855-465-4651
Email: sales@zionmarketresearch.com
Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client's needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us-after all-if you do well, a little of the light shines on us.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Electric Submersible Pumps Market Size 2024-2034: Powering Subsurface Productivity here
News-ID: 4124938 • Views: β¦
More Releases from Zion Market Research
Pharmaceutical Plastic Bottles Market Size to Reach USD 49.72 Billion by 2034, G β¦
The global pharmaceutical plastic bottles market continues to gain momentum as the pharmaceutical and healthcare industries increasingly prioritize lightweight, durable, and cost-effective packaging solutions. Valued at USD 30.52 billion in 2024, the market is projected to reach approximately USD 49.72 billion by 2034, expanding at a steady CAGR of 5% during the forecast period (2025-2034).
Pharmaceutical plastic bottles are increasingly replacing traditional glass containers due to their superior safety, convenience, andβ¦
Building Panels Market Size to Reach USD 421.41 Billion by 2034, Growing at a CA β¦
The global building panels market is experiencing strong momentum as the construction industry increasingly embraces faster, sustainable, and cost-efficient building methods. Valued at USD 228.54 billion in 2024, the market is projected to soar to USD 421.41 billion by 2034, expanding at a steady CAGR of 6.3% during the forecast period (2025-2034).
Building panels - used across residential, commercial, and industrial structures - are manufactured from a range of materials, includingβ¦
Vessel Traffic Management Market Size to Reach USD 15.51 Billion by 2034, Growin β¦
The global vessel traffic management (VTM) market is on a strong growth trajectory, valued at USD 6.93 billion in 2024 and projected to surpass USD 15.51 billion by 2034, expanding at a CAGR of 8.4% between 2025 and 2034. The market is witnessing steady growth due to the rising need for safe navigation, maritime trade expansion, and smart port technology adoption across the globe.
Vessel traffic management systems play a crucialβ¦
Global Plastic Waste Management Market To Surpass USD 64.02 Billion by 2034, Dri β¦
The global plastic waste management market was valued at USD 38.56 Billion in 2024 and is projected to reach approximately USD 64.02 Billion by 2034, growing at a CAGR of 5.2% between 2025 and 2034. The industry's growth is fueled by increasing environmental awareness, stringent government regulations, and the rise of circular economy practices across both developed and emerging economies.
Plastic waste management has evolved into one of the most crucialβ¦
More Releases for ESP
Colombia Power Market Outlook Report- Growth Opportunities and Major Generating β¦
Colombia Power Market Report study provides detailed information to understand the imperative market parts that align with the business decision related to raw materials, demand, and production capacity. In addition, Colombia Power Market analysis provides demands for the future, besides the available opportunities for the individuals. Colombia Power Market helps manufacturers and clients understand the past trends and analyze the future trend.
Get FREE PDF Sample of the Report @ https://www.reportsnreports.com/contacts/requestsample.aspx?name=4487604
Colombiaβ¦
Automotive ESP Market Size, Share, Development by 2024
Market Research Report Store offers a latest published report on Automotive ESP Market Analysis and Forecast 2019-2025 delivering key insights and providing a competitive advantage to clients through a detailed report.
According to this study, over the next five years the Automotive ESP market will register a xx% CAGR in terms of revenue, the global market size will reach US$ xx million by 2024, from US$ xx million in 2019. Inβ¦
Electric Submersible Cables (ESP) Market by Cable Type (ESP Round Power Cable, E β¦
Industry Outlook and Trend Analysis
The Electric Submersible Cables Market was worth USD 2.93 billion in 2014 and is expected to reach approximately USD 4.31 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 4.37% during the forecast period. Electrical submersible pump (ESP) cables are exceptionally created to supply power from the transformer to pump motor in deepened oil and water wells, even in high temperatureβ¦
Automotive ESP Market 2017- Bosch, Continental, Denso
Electronic stability control (ESC), also referred to as electronic stability program (ESP) or dynamic stability control (DSC), is a computerized technology that improves a vehicle's stability by detecting and reducing loss of traction (skidding). When ESC detects loss of steering control, it automatically applies the brakes to help "steer" the vehicle where the driver intends to go. Braking is automatically applied to wheels individually, such as the outer front wheelβ¦
Global Electronic Stablity Program (ESP) Market Research Report 2017
Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Electronic Stablity Program (ESP) in these regions, from 2012 to 2022 (forecast), covering
United States
EU
China
Japan
South Korea
India
Global Electronic Stablity Program (ESP) market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
BMW
Toyota
Lexus
VOLVO
Volkswagen
Mercedes-Benz
On the basis of product, this report displays the production, revenue,β¦
Global Automotive ESP Market Research Growth Report
A Report on Automotive ESP For the Safety purpose of Human while Riding on Bigmarketresearch.com
This report studies Automotive ESP in Global market, especially in North America, Europe, China, Japan, Korea and Taiwan, focuses on top manufacturers in global market, with capacity, production, price, revenue and market share for each manufacturer, covering
Bosch
Continental
TRW
Denso
AISIN
Delphi
Hyundai Mobis
Ford
MANDO
Nissin Kogyo
Get Sample Copy of Report: https://goo.gl/U6Pbjl
Market Segment by Regions, this report splits Global into several key Regions, withβ¦
