Selbyville, Delaware, June 29, 2022 (GLOBE NEWSWIRE) --
Electric Submersible Pump Market is projected to generate USD 24 billion valuation by 2030, according to research analysis by Global Market Insights Inc. The increasing demand for energy-efficient & cost-effective submersible pumps along with rising concerns about the water crisis will positively stimulate the industry trends. Moreover, factors including the shortage of drinking and sanitary water will drive the business scenario over the forecast period.
Extraction of groundwater to fulfill the need to supply water for domestic & large applications is expected to boost the borewell segment growth.
Request a sample of this report @ https://www.gminsights.com/request-sample/detail/3392
The Europe electric submersible pump market is estimated to surpass more than 6% through 2030. Ongoing product deployments across various application industries including agriculture, sewage & wastewater, and building services will foster the industry landscape. In addition, increasing reconstruction activities to develop old & aging wastewater treatment plants in the region to offer clean water for residential & agriculture applications is likely to offer lucrative growth opportunities.
Mounting energy demand in the commercial application including oil & gas, building services, and sewage water treatment is projected to increase the adoption of single-stage submersible pumps owing to their application potential in line with cost-effectiveness, high efficiency & reliability. These pumps are used in domestic & public, slurry, and general industrial pumping. Additionally, the most used single-stage pumping systems are suitable when the total dynamic head is low to medium or has a relatively low head or low flow, thereby finding applications in water pumping for high-rise buildings and sewage & wastewater.
The COVID-19 outbreak has significantly hampered the electric submersible pump market expansion and hindered the supply chain, which led to production delays. The construction industry witnessed declined growth credited to widespread work closure and unavailability of workforce due to strict lockdown, thereby negatively impacting the building & services industry. However, it has been assessed that the construction business is set to improve its potential to conceal these negative impacts in the coming years.
Some of the prime findings of the electric submersible pump industry report include:
- Surging public and private sector investments in geothermal power plants along with the implementation of government regulations to reduce carbon footprints will enhance product deployment.
- Reconstruction of aging building infrastructures together with a positive outlook toward the product espousal in high-rise buildings will further augment the market dynamics.
- Increasing investments in providing efficient irrigation facilities will complement the product landscape.
- Key players operating in the market include Borets, Schlumberger Ltd, Weatherford, Baker Hughes, Flowserve Corporation, EBARA CORPORATION, Atlas Copco AB, WILO SE, Grundfos Holding A/S, Gorman-Rupp Pumps, Crompton Greaves Consumer Electricals Limited, among others.
Request for customization of this research report @ https://www.gminsights.com/roc/3392
Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Electric submersible pump industry 3600 synopsis, 2018 – 2030
2.1.1 Business trends
2.1.2 Industry trends
2.1.3 Well trends
2.1.4 Operations trends
2.1.5 Regional trends
Chapter 3 Electric Submersible Pump Industry Insights
3.1 Industry ecosystem analysis
3.2 Innovation & technology landscape
3.3 Regulatory landscape
3.4 COVID- 19 impact on the industry outlook
3.5 Impact of Russia – Ukraine war on the industry
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 North & South America
3.6.1.1.1 Increasing investment toward exploration and production activities
3.6.1.2 Europe
3.6.1.2.1 Depleting rate and maturity of oil fields
3.6.1.3 Asia Pacific
3.6.1.3.1 Growing development of efficient wastewater & sewage management facilities
3.6.1.3.2 Increasing investments toward providing efficient irrigation facilities
3.6.1.4 Middle East & Africa
3.6.1.4.1 Water scarcity and limited availability of clean drinking water
3.6.2 Industry pitfalls & challenges
3.6.2.1 High competition from available counterparts
3.7 Growth potential analysis
3.8 Porter's Analysis
3.9 Competitive landscape, 2021
3.10 PESTEL Analysis
Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/electric-submersible-pump-market
About Global Market Insights Inc.
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.
