Product Code: GVR-4-68040-408-5
Electric Submersible Pumps Market Trends:
The global electric submersible pumps market size was estimated at USD 8.9 billion in 2023 and is anticipated to grow at a CAGR of 5.6% from 2024 to 2030. The market is witnessing robust growth, primarily fueled by the surging demand for efficient and reliable pumping solutions in various industries, including oil and gas, water and wastewater management, and agriculture. This increase in demand can be attributed to the growing global energy needs, rising water management concerns, and the ongoing efforts towards improving agricultural yields. As industries worldwide strive for operational efficiency and sustainability.
Electric submersible pumps, known for their high efficiency, low maintenance, and ability to operate in challenging environments, are becoming increasingly popular. Consequently, advancements in technology and innovations aimed at enhancing the performance and extending the lifespan of these pumps are further propelling the market's growth.
Furthermore, the shift towards renewable energy sources has prompted the oil and gas industry to implement more energy-efficient and environmentally friendly solutions. Electric submersible pumps, especially those powered by renewable energy sources, align with this trend, offering a more sustainable option for oil and water extraction. This alignment with global sustainability goals is accelerating the adoption of electric submersible pumps, contributing to the market's expansion.
The design of an ESP makes it highly suitable for pumping fluids at great depths, with significant advantages in production rates and operational life. It works by drawing fluid into its intake, pressurizing it through stages in the pump section, and then pushing it to the surface through the tubing. ESP are widely used in the oil and gas industry due to their adaptability to varying flow rates and depths, making them an essential tool in enhancing hydrocarbon recovery from underground reserves.
Global Electric Submersible Pumps Market Report Segmentation
This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global electric submersible pump market report based on product, end-use, and region:
- Product Outlook (Revenue, USD Million, 2018 - 2030)
- Borewell
- Openwell
- Non-Clog
- End-use Outlook (Revenue, USD Million, 2018 - 2030)
- Agriculture
- Construction & Building Services
- Water & Wastewater
- Power Generation
- Oil & Gas
- Chemical
- Others
- Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.4. Information Procurement
- 1.4.1. Purchased Database
- 1.4.2. GVR's Internal Database
- 1.4.3. Secondary Sources
- 1.4.4. Third Party Perspective
- 1.4.5. Information Analysis
- 1.5. Information Analysis
- 1.5.1. Data Analysis Models
- 1.5.2. Market Formulation & Data Visualization
- 1.5.3. Data Validation & Publishing
- 1.6. Research Scope and Assumptions
- 1.6.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Electric Submersible Pump Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.2. Market Concentration & Penetration Outlook
- 3.3. Industry Value Chain Analysis
- 3.4. Technology Overview
- 3.5. Regulatory Framework
- 3.6. Market Dynamics
- 3.6.1. Market Drivers Analysis
- 3.6.2. Market Restraints Analysis
- 3.6.3. Market Opportunity Analysis
- 3.6.4. Market Challenge Analysis
- 3.7. Electric Submersible Pump Market Analysis Tools
- 3.7.1. Porter's Five Forces Analysis
- 3.7.1.1. Bargaining power of the suppliers
- 3.7.1.2. Bargaining power of the buyers
- 3.7.1.3. Threats of substitution
- 3.7.1.4. Threats from new entrants
- 3.7.1.5. Competitive rivalry
- 3.7.2. PESTEL Analysis
- 3.7.2.1. Political landscape
- 3.7.2.2. Economic and Social landscape
- 3.7.2.3. Technological landscape
- 3.7.2.4. Environmental landscape
- 3.7.2.5. Legal landscape
- 3.8. Economic Mega Trend Analysis
Chapter 4. Electric Submersible Pump Market: Product Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Electric Submersible Pump Market: Product Movement Analysis, USD Million, 2023 & 2030
- 4.3. Borewell
- 4.3.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4. Openwell
- 4.4.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5. Non-Clog
- 4.5.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Electric Submersible Pump Market: Application Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Electric Submersible Pump Market: Application Movement Analysis, USD Million, 2023 & 2030
- 5.3. Agriculture
- 5.3.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4. Construction & Building Services
- 5.4.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.5. Water & Wastewater
- 5.5.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.6. Power Generation
- 5.6.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.7. Oil & Gas
- 5.7.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.8. Chemical
- 5.8.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.9. Others
- 5.9.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Electric Submersible Pump Market: Region Estimates & Trend Analysis
- 6.1. Electric Submersible Pump Market Share, By Region, 2023 & 2030, USD Million
- 6.2. North America
- 6.2.1. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.2. Electric Submersible Pump Market Estimates and Forecasts by Product, 2018 - 2030 (USD Million)
- 6.2.3. Electric Submersible Pump Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 6.2.4. U.S.
- 6.2.4.1. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.4.2. Electric Submersible Pump Market Estimates and Forecasts by Product, 2018 - 2030 (USD Million)
- 6.2.4.3. Electric Submersible Pump Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 6.2.5. Canada
- 6.2.5.1. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.5.2. Electric Submersible Pump Market Estimates and Forecasts by Product, 2018 - 2030 (USD Million)
- 6.2.5.3. Electric Submersible Pump Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 6.2.6. Mexico
- 6.2.6.1. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.6.2. Electric Submersible Pump Market Estimates and Forecasts by Product, 2018 - 2030 (USD Million)
- 6.2.6.3. Electric Submersible Pump Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 6.3. Europe
- 6.3.1. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.2. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.3. Electric Submersible Pump Market Estimates and Forecasts by Product, 2018 - 2030 (USD Million)
- 6.3.4. Electric Submersible Pump Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 6.3.5. UK
- 6.3.5.1. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.5.2. Electric Submersible Pump Market Estimates and Forecasts by Product, 2018 - 2030 (USD Million)
- 6.3.5.3. Electric Submersible Pump Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 6.3.6. Germany
- 6.3.6.1. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.6.2. Electric Submersible Pump Market Estimates and Forecasts by Product, 2018 - 2030 (USD Million)
- 6.3.6.3. Electric Submersible Pump Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 6.3.7. France
- 6.3.7.1. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.7.2. Electric Submersible Pump Market Estimates and Forecasts by Product, 2018 - 2030 (USD Million)
- 6.3.7.3. Electric Submersible Pump Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 6.3.8. Italy
- 6.3.8.1. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.8.2. Electric Submersible Pump Market Estimates and Forecasts by Product, 2018 - 2030 (USD Million)
- 6.3.8.3. Electric Submersible Pump Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 6.3.9. Spain
- 6.3.9.1. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.9.2. Electric Submersible Pump Market Estimates and Forecasts by Product, 2018 - 2030 (USD Million)
- 6.3.9.3. Electric Submersible Pump Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 6.4. Asia Pacific
- 6.4.1. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.2. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.3. Electric Submersible Pump Market Estimates and Forecasts by Product, 2018 - 2030 (USD Million)
- 6.4.4. Electric Submersible Pump Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 6.4.5. China
- 6.4.5.1. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.5.2. Electric Submersible Pump Market Estimates and Forecasts by Product, 2018 - 2030 (USD Million)
- 6.4.5.3. Electric Submersible Pump Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 6.4.6. India
- 6.4.6.1. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.6.2. Electric Submersible Pump Market Estimates and Forecasts by Product, 2018 - 2030 (USD Million)
- 6.4.6.3. Electric Submersible Pump Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 6.4.7. Japan
- 6.4.7.1. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.7.2. Electric Submersible Pump Market Estimates and Forecasts by Product, 2018 - 2030 (USD Million)
- 6.4.7.3. Electric Submersible Pump Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 6.4.8. South Korea
- 6.4.8.1. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.8.2. Electric Submersible Pump Market Estimates and Forecasts by Product, 2018 - 2030 (USD Million)
- 6.4.8.3. Electric Submersible Pump Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 6.4.9. Australia
- 6.4.9.1. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.9.2. Electric Submersible Pump Market Estimates and Forecasts by Product, 2018 - 2030 (USD Million)
- 6.4.9.3. Electric Submersible Pump Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 6.5. Latin America
- 6.5.1. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.2. Electric Submersible Pump Market Estimates and Forecasts by Product, 2018 - 2030 (USD Million)
- 6.5.3. Electric Submersible Pump Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 6.5.4. Brazil
- 6.5.4.1. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.4.2. Electric Submersible Pump Market Estimates and Forecasts by Product, 2018 - 2030 (USD Million)
- 6.5.4.3. Electric Submersible Pump Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 6.5.5. Argentina
- 6.5.5.1. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.5.2. Electric Submersible Pump Market Estimates and Forecasts by Product, 2018 - 2030 (USD Million)
- 6.5.5.3. Electric Submersible Pump Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 6.6. Middle East & Africa
- 6.6.1. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.2. Electric Submersible Pump Market Estimates and Forecasts by Product, 2018 - 2030 (USD Million)
- 6.6.3. Electric Submersible Pump Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 6.6.4. South Africa
- 6.6.4.1. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.4.2. Electric Submersible Pump Market Estimates and Forecasts by Product, 2018 - 2030 (USD Million)
- 6.6.4.3. Electric Submersible Pump Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 6.6.5. Saudi Arabia
- 6.6.5.1. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.5.2. Electric Submersible Pump Market Estimates and Forecasts by Product, 2018 - 2030 (USD Million)
- 6.6.5.3. Electric Submersible Pump Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 6.6.6. UAE
- 6.6.6.1. Electric Submersible Pump Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.6.2. Electric Submersible Pump Market Estimates and Forecasts by Product, 2018 - 2030 (USD Million)
- 6.6.6.3. Electric Submersible Pump Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Recent Developments & Impact Analysis by Key Market Participants
- 7.2. Company Categorization
- 7.3. Company Market Positioning
- 7.4. Company Market Share Analysis, 2023
- 7.5. Company Heat Map Analysis, 2023
- 7.6. Strategy Mapping
- 7.7. Company Profiles
- 7.7.1. Xylem
- 7.7.1.1. Participant's Overview
- 7.7.1.2. Financial Performance
- 7.7.1.3. Product Benchmarking
- 7.7.1.4. Strategic Initiatives
- 7.7.2. Sulzer Ltd.
- 7.7.2.1. Participant's Overview
- 7.7.2.2. Financial Performance
- 7.7.2.3. Product Benchmarking
- 7.7.2.4. Strategic Initiatives
- 7.7.3. KSB SE & Co. KGaA.
- 7.7.3.1. Participant's Overview
- 7.7.3.2. Financial Performance
- 7.7.3.3. Product Benchmarking
- 7.7.3.4. Strategic Initiatives
- 7.7.4. Grundfos Holding A/S
- 7.7.4.1. Participant's Overview
- 7.7.4.2. Financial Performance
- 7.7.4.3. Product Benchmarking
- 7.7.4.4. Strategic Initiatives
- 7.7.5. Atlas Copco
- 7.7.5.1. Participant's Overview
- 7.7.5.2. Financial Performance
- 7.7.5.3. Product Benchmarking
- 7.7.5.4. Strategic Initiatives
- 7.7.6. Flowserve
- 7.7.6.1. Participant's Overview
- 7.7.6.2. Financial Performance
- 7.7.6.3. Product Benchmarking
- 7.7.6.4. Strategic Initiatives
- 7.7.7. Wilo SE
- 7.7.7.1. Participant's Overview
- 7.7.7.2. Financial Performance
- 7.7.7.3. Product Benchmarking
- 7.7.7.4. Strategic Initiatives
- 7.7.8. Homa Pump Technology
- 7.7.8.1. Participant's Overview
- 7.7.8.2. Financial Performance
- 7.7.8.3. Product Benchmarking
- 7.7.8.4. Strategic Initiatives
- 7.7.9. LEO GROUP PUMP(ZHEJIANG)CO., LTD.
- 7.7.9.1. Participant's Overview
- 7.7.9.2. Financial Performance
- 7.7.9.3. Product Benchmarking
- 7.7.9.4. Strategic Initiatives
- 7.7.10. VANSAN Water Technologies.
- 7.7.10.1. Participant's Overview
- 7.7.10.2. Financial Performance
- 7.7.10.3. Product Benchmarking
- 7.7.10.4. Strategic Initiatives
- 7.7.11. Grindex.
- 7.7.11.1. Participant's Overview
- 7.7.11.2. Financial Performance
- 7.7.11.3. Product Benchmarking
- 7.7.11.4. Strategic Initiatives
- 7.7.12. HCP PUMP MANUFACTURER CO., LTD..
- 7.7.12.1. Participant's Overview
- 7.7.12.2. Financial Performance
- 7.7.12.3. Product Benchmarking
- 7.7.12.4. Strategic Initiatives
- 7.7.13. EBARA International Corporation.
- 7.7.13.1. Participant's Overview
- 7.7.13.2. Financial Performance
- 7.7.13.3. Product Benchmarking
- 7.7.13.4. Strategic Initiatives
- 7.7.14. SBL.
- 7.7.14.1. Participant's Overview
- 7.7.14.2. Financial Performance
- 7.7.14.3. Product Benchmarking
- 7.7.14.4. Strategic Initiatives
- 7.7.15. ITT INC
- 7.7.15.1. Participant's Overview
- 7.7.15.2. Financial Performance
- 7.7.15.3. Product Benchmarking
- 7.7.15.4. Strategic Initiatives