Monday, 19 August 2019 11:03 GMT
img

Electric Submersible Pump Market to Hit $17 Billion by 2025: Global Market Insights, Inc.




(MENAFN - PR Newswire) SELBYVILLE, Del., Aug. 5, 2019 /PRNewswire/ -- The Europe electric submersible pump market will grow over 5% up to 2025. Ongoing product development coupled with a growing number of mature fields primarily will foster industry growth. A large number of fields across Romania and Russia have reached their maturity and the declining production rate across existing wells have instigated product demand. A growing need for economic recovery of resources along with increasing energy consumption will augment the industry landscape. Furthermore, the demand for ESP systems has grown, owing to increased spending in the upstream sector, leading to the adoption of various hydrocarbon recovery measures, including artificial lift and EOR.


Continue Reading


The worldwide electric submersible pump market is anticipated to register 6%+ CAGR between 2019-2025, driven by rising exploration and production activities and growing demand for efficient irrigation systems.

The worldwide electric submersible pump market is anticipated to register 6%+ CAGR between 2019-2025, driven by rising exploration and production activities and growing demand for efficient irrigation systems.



The U.S. electric submersible pump market will witness robust growth owing to the rising number of hydrocarbon development projects along with discoveries of new oilfields. An increased rig count along with recovering oil prices will provide massive growth prospects for industry players. For instance, the U.S. rig count increased from 900 in 2017 to 945 in 2018. Substantial demand from the agriculture sector along with surging irrigation investments after prolonged drought conditions will further enhance business outlook. 



Request for a sample of this research report @https://www.gminsights.com/request-sample/detail/3392


The Global Electric Submersible Pump Market is set to surpass USD 17 billion by 2025, as reported in the latest study by Global Market Insights, Inc. Rapidly increasing population along with extensive development of building infrastructure primarily across emerging nations will drive the electric submersible pump market growth. Growing requirements for uninterrupted water supply, aging infrastructure and depleting water resources are the prime factors facilitating product adoption. These units are widely deployed across high rise buildings and municipal facilities to ensure efficient supply and distribution.

Increasing spending by respective government authorities toward providing effective irrigation facilities along with surging agricultural demand will accelerate business growth. The units are used across sprinkler, drip irrigation and large-scale agriculture projects, providing even distribution and efficient water utilization. These systems can be selected based on different farm requirements along with ease of availability on rent and lease will stimulate product penetration. In addition, a significant upscale in farm output owing to reduced dependency on monsoon rains and effective water distribution has led to growing adoption by local farmers.

Browse key industry insights spread across 350 pages with 790 market data tables & 24 figures & charts from the report, "Electric Submersible Pump Market By Industry (Oil & Gas {Onshore, Offshore}, Sewage & Wastewater, Agriculture, Building Services), By Well (Borewell {Sewage & Wastewater, Agriculture, Building Services}, Open well {Sewage & Wastewater, Agriculture, Building Services}), By Operation (Single Stage, Multistage), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Russia, Norway, UK, Denmark, Italy, Germany, Netherlands, Spain, Sweden, France, China, India, Indonesia, Malaysia, Thailand, Australia, South Korea, Singapore, New Zealand, Philippines, Saudi Arabia, Iraq, Turkey, Kuwait, UAE, Angola, Nigeria, South Africa, Brazil, Argentina, Chile), Application Potential, Competitive Market Share & Forecast, 2019 - 2025" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/electric-submersible-pump-market

Rising exploration and production activities on account of recovering oil & gas prices will foster the electric submersible pump market growth. As per International Energy Agency (IEA), the global upstream investments increased to USD 472 billion in 2018 from USD 450 billion in 2017. A growing focus toward operational management coupled with reducing capital and operating expenses will enhance the outlook for the industry. Furthermore, declining technology cost coupled with an increasing focus toward low-cost manufacturing and technology innovation will boost product demand.

Prevailing issues concerning the water crisis along with an extreme shortage of drinking and sanitary water will propel the borewell ESP market growth. The borewells are primarily dug for extraction of groundwater with a diameter of 4.5 to 12 inches, where 4-5 inch diameter wells are used for domestic purposes whereas more than 6-inch diameter wells are used for large applications. Growing deployment across industrial and commercial water management facilities along with surging demand for municipal sewage and drainage systems will augment the business landscape.

Key participants functioning across the electric submersible pump market include Borets International, Schlumberger, Weatherford, Halliburton, General Electric, Ebara, Flowserve Corporation, Atlas Copco, Grundfos Holding, Wilo SE, Sulzer, Novomet-Perm, Crompton Greaves and Tsurumi Manufacturing. 

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/3392

Browse Related Reports:

Artificial Lift Systems Market By Technology (Progressive Cavity Pumps, Electrical Submersible Pumps, Gas Lift, Rod Lift, Hydraulic Pumps, Others), By Application (Onshore, Offshore), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Norway, Netherlands, CIS & Eurasia (Russia, Kazakhstan, Turkmenistan, Azerbaijan, Ukraine), China, India, Indonesia, Thailand, Malaysia, Iran, Iraq, Turkey, Kuwait, Oman, Saudi Arabia, UAE, Algeria, Angola, Nigeria, Brazil, Argentina, Venezuela, Mexico), Competitive Market Share & Forecast, 2018 - 2024

https://www.gminsights.com/industry-analysis/artificial-lift-systems-market-report

Heat Pump Market By Application {Residential (Single-family, Multi-family), Commercial (Educational Institutes, Healthcare, Retail, Logistics & Transportation, Offices, Hospitality and Others), Industrial}, By Product (Air Source, Ground Source, Water Source), Industry Analysis Report, Regional Outlook (U.S., Canada, Sweden, Germany, France, Finland, Austria, Netherlands, Switzerland, China, South Korea, Japan, Iran, Turkey, South Africa, Saudi Arabia) Application Potential, Competitive Market Share & Forecast, 2019 - 2025

https://www.gminsights.com/industry-analysis/heat-pump-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun HegdeCorporate Sales, USAGlobal Market Insights, Inc.Phone: 1-302-846-7766Toll Free: 1-888-689-0688Email: Web: https://www.gminsights.com Blog:http://express-journal.com Connect with us: Facebook | LinkedIn | Twitter

Related Images

electric-submersible-pump-market.jpgElectric Submersible Pump Market Forecasts 2019-2025 The worldwide electric submersible pump market is anticipated to register 6%+ CAGR between 2019-2025, driven by rising exploration and production activities and growing demand for efficient irrigation systems.

Related Links

Electric Submersible Pump Market

Energy Storage Systems Market

SOURCE Global Market Insights, Inc.

Related Links

https://www.gminsights.com


×
Modal title
Also from this source

Precision Medicine Market by Technology, Application, End-Use...

Offshore Wind Cable Market Value to Hit $2 Billion by 2025:...
Explore

More news releases in similar topics




  • Water Utilities


  • Utilities


  • Oil & Energy


  • Machine Tools, Metalworking and Metallurgy


  • Mining & Metals


MENAFN0508201900701241ID1098845404


Electric Submersible Pump Market to Hit $17 Billion by 2025: Global Market Insights, Inc.

Authors_Square_PromoteArticle_Ink2019

  Most popular stories  

Day | Week | Month