Electric Submersible Pumps Market 2018 by Global Leaders: Grundfos Pumps Corporation, Walrus America Inc., Schlumberger Limited, Halliburton Company, Borets Company, GE Oil & Gas

Electric Submersible Pumps Market - Overview
Electrical Submersible Pumps are Low maintenance, small sized hence portable and highly efficient in terms of output. And these very factors not only make ESPs popular but also drive the ESP market. The demand for submersible pumps from agriculture and wastewater treatment industries is expected to remain significant throughout the forecast period. Development of new sources of safe drinkable water and small and medium scale industrial development are further expected to push the demand for submersible pumps over the forecast period 2017-2027. The highly competitive Market of ESPs promises a good fortune in the years to (2017-2027).

Accrediting the prominence Electric Submersible Pumps are gaining in the current scenario and projecting the traction its growing market size would gain in the future, the Market Research Future, recently published a brilliant study report according to which the global Electric Submersible Pumps market is forecasted to demonstrate a quadrupled growth by 2027, crossing its previous growth records in terms of value posting a whooping CAGR during the estimated period (2017 – 2027). The Global Electric Submersible Pumps market is forecasted to perceive substantial growth accruals by 2027, registering substantial expansion rate during the period 2017 to 2027.

The Global ESP market is growing and widening owing to the infrastructural development activities around the globe. The Focused efforts on urbanization, industrialization, and agricultural development of the Governments of developing countries such as China and India; is expected to drive the demand for Submersible pumps in the region.

Key Players
Some of the key players in the ESP Market are
• Grundfos Pumps Corporation,
• Walrus America Inc,
• Baker Hughes Incorporated,
• Schlumberger Limited,
• Halliburton Company,
• Falcon Pumps Pvt. Ltd.,
• Borets Company,
• GE Oil & Gas,
• JSC Novomet-Perm,
• Torqueflow Sydex Ltd.,
• Weatherford International.

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Electric Submersible Pumps Market – Regional Analysis
North America is the leading region for this market mainly due to increased offshore exploration activities. Technological development and increasing demand for Oil & Gas has also significantly contributed to the high demand in the North American region. Asia-Pacific and Europe are other leading regions due to the increasing production from matured oil fields in this region.

Chinese players of ESP Market are offering comparatively low price; this well planned move is challenging the other players in the regional and global market.

Industry News
On 2 September 2017, Saudi Aramco and Baker Hughes announced the first installation of the TransCoil rigless-deployed electrical submersible pumping (ESP) system, which is designed to help operators bring wells on production faster and lower the costs associated with installing and replacing ESPs.

On Oct 2016, General Electric Co.'s and Baker Hughes Inc. completed its merger. The new company is the first and only to bring together industry-leading equipment, services and digital solutions across the entire spectrum of oil and gas development.

July 5, 2017 – Halliburton Company announced the acquisition of Summit ESP, a leading provider of electric submersible pump (ESP) technology and services. The addition of Summit’s artificial lift offerings and industry-leading customer service strengthens Halliburton’s artificial lift portfolio for its global customers.

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