Pune, Feb. 24, 2020 (GLOBE NEWSWIRE) -- The global electric submersible pumps market size is projected to reach USD 14.76 billion by the end of 2026. Driven by the increasing demand for hydrocarbons across the world, the market will rise at a considerable rate in the coming years. According to a report published by Fortune Business Insights, titled “Electric Submersible Pumps Market Size, Share & Industry Analysis, By End-User (Residential & Commercial, Water & Wastewater, Mining, Agriculture, Oil & Gas, Chemicals, Construction, Others), By Operation (Single-Stage, Multi-Stage), By Capacity (Low, Medium, High), By Type (Open well, Bore Well), and Regional Forecast, 2019-2026,” the market was worth USD 9.43 billion in 2018 and will exhibit a CAGR of 5.8% during the forecast period, 2019-2026.
Electric submersible pumps are used across diverse industry verticals, including residential, mining and construction, agriculture, wastewater treatment, and oil and gas. The advancements in manufacturing design, coupled with the increasing investment in the development of newer products as well as the betterment of existing products will fuel the demand for the products across the world. The excellent operational characteristics and the ability of the product to operate under harsh environmental conditions will have a direct impact on the growth of the market in the coming years. The increasing demand for wastewater treatment will emerge in favor of the companies operating in the market.
To gain more insights into the market with detailed table of content and figures, click here: https://www.fortunebusinessinsights.com/electric-submersible-pumps-market-102232
The report offers insights into the ongoing electric submersible pumps market trends. Additionally, the report encompasses several factors that have contributed to the growth of the market in recent years. The report provides forecast values for the market for the period of 2019-2026. It highlights leading companies in the market and discusses the strategies that these companies have adopted in recent years. The competitive landscape scenario has been discussed in detail. Factual figures have been evaluated through trusted sources. Other forecast valued have been gathered through interviews and opinions of experienced market research professionals.
Increasing Number of Product Launches Will Aid Market Growth
Among all factors that have contributed to the growth of the market in recent years, the increasing number of product launches have made the highest impact on the market. The increasing investment in product R&D have yielded several innovations in recent years. In November 2019, HOMA Pupenfabrik introduced a new line of electric submersible pumps made of stainless steel material that is suitable for handling high-density effluents. Through these products, the company plans to expand in the chemical industry, with an aim to launch products that can handle abrasive fluids and wastewater. The report highlights a few of the major product launches of recent times and gauges their impact on the global market.
Request a Sample Copy: https://www.fortunebusinessinsights.com/enquiry/sample/electric-submersible-pumps-market-102232
Asia Pacific to Emerge Leading; Increasing Need for Wastewater Treatment to Aid Growth
On the basis of region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the market in Asia Pacific is projected to emerge dominant in the coming years. The increasing number of hydrocarbon extraction and mining activities will create several opportunities for the growth of the market in this region. The increasing investment in the development of wastewater as well as abrasive-fluid handling equipment will favour market growth. The constantly rising population will contribute to the growth of the market in this region. As of 2018, the market in Asia Pacific was worth USD 3.13 billion and this value is likely to increase further in the coming years.
List of the leading companies that are operating in the global Electric Submersible Pumps Market are:
- Sulzer
- Kirloskar Brothers Limited
- oddesse Pumpen- Und Motorenfabrik GmbH
- KSB Company
- Multiquip Inc.
- GRUNDFOS
- Hitachi America
- Xylem Inc.
- Caprari
- Crompton Greaves Consumer Electricals Limited
- Weatherford
- TSURUMI PUMP
- ZUWA-Zumpe GmbH
- Homa Pumpenfabrik GmbH
- Quadt Kunststoffapparatebau GmbH
November 2019: HOMA Pumpenfabrik introduced a new line of electric submersible pumps that are made of stainless steel material. These products have been developed with the aim of handling high-density effluents.
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/electric-submersible-pumps-market-102232
Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Global Electric Submersible Pumps Market Analysis (USD Billion), Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Operation
- Single-Stage
- Multi-Stage
- Market Analysis, Insights and Forecast – By Capacity
- Low
- Medium
- High
- Market Analysis, Insights and Forecast – By Type
- Open well
- Borewell
- Market Analysis, Insights and Forecast – By End-User
- Residential & Commercial
- Water & Wastewater
- Mining
- Agriculture
- Oil & Gas
- Chemicals
- Construction
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Request for Customization: https://www.fortunebusinessinsights.com/enquiry/customization/electric-submersible-pumps-market-102232
(Have a Look at Reports Trending in Energy & Power Industry)
Browse Related Reports:
Artificial Lift System Market Size, Share and Industry Analysis By Type (Electric Submersible Pump (ESP), Sucker Rod Pump (SRP), Progressive Cavity Pump (PCP), Gas Lift, Others), By Application (Onshore, Offshore) and Regional Forecast, 2019-2026
Oil & Gas Pumps Market Size, Share and Global Trend By Capacity (Low, Medium, High), By Type (Rotary, Reciprocating, Centrifugal), By Application (Onshore, Offshore) and Geography Forecast till 2026
Fluid Handling Systems Market Size, Share and Global Trend By Component (Pumps, Control Valves, Storage Tanks, Others), By End-Use Industry (Chemical, Food Processing, Power Generation, Marine, Others) and Geography Forecast till 2026
Cryogenic Pump Market Size, Share & Industry Analysis, By Type (Positive Displacement Pump and Centrifugal Pump), By Cryogen Type (Nitrogen, Oxygen, Argon, Liquefied Natural Gas (LNG), and Others), By End-User (Oil & Gas, Metallurgy, Power Generation, Chemical & Petrochemical, Marine, and Others) and Regional Forecast, 2019-2026
Electric Motor Market Size, Share & Industry Analysis, By Motor Type (AC Motors, DC Motors, Hermetic Motors), By Power Output (Fractional Horsepower (Up to 1HP), Integral Horsepower (Above 1HP)), By Voltage (Up to 1 kV, 1 kV-6.6 kV, Above 6.6 kV), By Application (Industrial Machinery, Motor Vehicles, Electrical Appliances, Others), By End-User (Industrial, Commercial, Residential, Agriculture) and Regional Forecast, 2019-2026
AC Drives Market Size, Share & Industry Analysis, By Power Rating (Low Power Drives, Medium Power Drives, and High Power Drives), By Voltage (Low Voltage and Medium Voltage), By Application (Pumps, Conveyors, Compressors, Electric Fan), By End-User (Food & Beverage, Oil & Gas, Power Generation, Building Automation, Metal & Mining, Water & Wastewater, Chemical & Petrochemicals) and Regional Forecast, 2019-2026
Heat Exchanger Market Size, Share & Industry Analysis, By Type (Shell & Tube, Plate & Frame, Air Coolers, Cooling Towers, and Others), By Application (Chemicals, Oil & Gas, Power Generation, HVAC, Automobile, Pharmaceuticals, Food & Beverage, Others), and Regional Forecast, 2019-2026
Variable Frequency Drive (VFD) Market Size, Share & Industry Analysis, By Type (AC Drive, DC Drive, Servo Drive), By Power Range (Micro, Low, Medium, High), By Application (Pumps, Conveyors, HVAC, Electric Fan, Extruders, Others), By End-User (Food & Beverage, Oil & Gas, Power Generation, Infrastructure, Agriculture, Mining, Others), and Regional Forecast, 2019-2026
Coiled Tubing Services Market Size, Share & Industry Analysis, By Service (Well Intervention {Well Completion, Well Cleaning}, Drilling), By Application (Onshore and Offshore), and Regional Forecast, 2019-2026
Marine Engine Market Size, Share & Industry Analysis, By Ship Type (Oil Tankers, Bulk Carriers, General Cargo Ships, Container Ships, Gas Carriers, Chemical Tankers, Support Vessels, Ferries and Passenger Ships, and Others), By Capacity, By Fuel (Heavy Fuel Oil, Intermediate Fuel Oil, Marine Diesel Oil, Marine Gas Oil, LNG, and Others), By Speed (High Speed, Medium Speed, and Low Speed), By Stroke and Regional Forecast, 2019-2026
Smart Electric Meter Market Size, Share & Industry Analysis, By Type (Advanced Metering Infrastructure and Auto Meter Reading), By Application (Residential, Industrial, Commercial, and Others), and Regional Forecast, 2019-2026.
Circuit Breaker Market Size, Share & Industry Analysis, By Voltage (Low Voltage, Medium Voltage, and High Voltage), By End User (Residential, Commercial, Industrial, and Utility), By Installation (Indoor and Outdoor), By Rated Voltage (Upto 500V, 500V-1kV, 1kV-15kV, 15kV-50kV, 50kV-70kV, 70kV-150kV, 150kV-300kV, 300kV-600kV, 600kV-800kV, and Above 800kV), and Regional Forecast, 2019-2026
About us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs
Press Release: https://www.fortunebusinessinsights.com/press-release/electric-submersible-pumps-market-9612