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, Borewell), and Regional Forecast, 2019-2032

The global electric submersible pump market size was valued at USD 9.43 billion in 2018 and is projected to reach USD 21.24 billion by 2032, exhibiting a CAGR of 6.02% during the forecast period of 2019-2032.

Increasing demand for hydrocarbon fuel along with rising need to recycle & distill wastewater will boost the electric submersible pumps market size. A rapid upsurge in construction activities coupled with increasing residential & commercial complexes water needs will further enhance the product demand. The electric submersible pump (ESP) works while submerged in water and acts as a centrifugal pump accompanied by an electric motor with different output capacities. It is majorly preferred over other counterparts as it does not rely upon external factors but pumps the fluid to the surface without creating problematic conditions like pump cavitation. Consequently, it is readily installed across the wide range of applications to provide pumping needs in shallow and deep depth wells.

Rapidly expanding oil & gas and mining sectors along with substantially rising water management needs to support various establishments, is anticipated to propel the electric submersible pumps market. Asia Pacific is projected to dominate the market over the forecast period owing to an increasing number of residents in urban areas along with rich agricultural heritage in various countries. Numerous players are also present across the region with significant manufacturing capabilities to deliver complete units or different components incorporated in the units. Additionally, considerably rising oil & gas activities to produce more fossil fuel across China, India, and other Southeast Asian countries is set to support the installation of ESPs.

MARKET DRIVERS

“Efficient Manufactured Design And Operational Characteristics Boost the Demand for Electric Submersible Pumps”

The design of these units are inclusive of a motor that is hermetically sealed with the body to keep any external fluid out of the system effectively. This layout further ensures the safe operation of pumps with mitigate leakage chances and safeguard no electricity short out. Furthermore, these units do not need priming for initial starting up, thus offer a higher output of pumped water with energy consumption.

 “Increasing Demand For Water Management Products Is Set To Propel the Market Growth”

Electric submersible pumps are widely installed to function sewage treatment plant to pump fibrous sludge, solid sludge, and gaseous liquids. It is also incorporated at the drainage and irrigation locations to serve water pumping needs. A submersible type of pump is generally placed at little over the bottom of the well and has a thin, long, and cylindrical shape operating at various water heads and flow rates.

SEGMENTATION

By Operation Analysis

“Multi-Stage Pumps Are Projected to Dominate the Market In the Forecast Period”

On the basis of operation, the electric submersible pump market can be bifurcated into single-stage and multi-stage. Multi-stage operated products are anticipated to hold a major share owing to its diverse application potential, along with high reliability and efficiency. Besides this, the single-stage segment is projected to witness significant growth owing to its cost-effective design to pump under low head conditions for extensive usage in various locations.

By Capacity Analysis

“High Capacity Submersible Pumps Are Foreseen to Grow Substantially”

Based on the power rating, the market can be segregated into below low, medium, and high. High rated electric submersible pumps are anticipated to observe substantial growth over the forecast timeline. High capacity pumps are readily used to handle heavyweight material and offer high abrasion resistance to efficiently operate in harsh environments like oil & gas and mining applications. The ability to significantly handle contaminated water and deliver efficient sewage and drainage outputs is projected to boost the adoption of medium capacity products. Low capacity pumps are majorly installed in small commercial & residential establishments for the collection of groundwater, removal of wastewater, and many other operations.

By Type Analysis

“Borewell Pumps Are Expected to Lead the Market”

On the basis of type, the market can be primarily divided into open well and borewell. Borewell type pumps are anticipated to account for a major share across the forecast timeframe. Continuous water supply for irrigation & agricultural usages along with easy installation in domestic, residential, and industrial establishments are among the main reasons complementing the adoption of these products. Better handling of acidic and sandy water coupled with an air-tight design for enhanced efficiency will further propel the demand. Subsequently, the open well type is projected to witness considerable growth due to easy transportation, compact design, efficient handling, and better cooling characteristics.

By End-User Analysis

“Water & Wastewater Are Projected To Hold a Lion’s Share During the Forecast Period”

Based on end-user, the market can be majorly divided into residential & commercial, water & wastewater, mining, agriculture, oil & gas, chemicals, construction, and others. Water & wastewater segment is likely to account for a major portion due to its high installations to solve sewage problems and pump untreated effluents across the globe. The increasing number of old wells and deployment of secondary & tertiary recovery techniques in these wells to improve the overall production is set to propel the oil & gas sector. Rising need to extract minerals from deep beneath the earth’s surface in order to optimize the manufacturing of different components and products is set to influence the mining segment positively. The construction end-user sector is projected to observe positive growth owing to the frequent adoption of pumps to move extra water from building sites & basements along with pumping slurry to support the construction needs.

Chemicals segment is set to rise at a considerable pace as various units are manufactured with selected raw materials to offers corrosion-resistant operations to pump chemical fluids. The agriculture end-use industry is anticipated to be one of the majorly flourishing divisions across the forecast timeline. Low maintenance requirements, coupled with easy transportation and placement of the units, are supporting the segment growth. High inclination towards the installation of efficient drainage and water pumping among consumers is likely to augment the residential & commercial sector expansion.

REGIONAL ANALYSIS

Geographically, the electric submersible pumps market has been analyzed across five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is subjected to lead the market due to a rapid shift in the urban population, rich agricultural heritage, and increasing hydrocarbon extraction & mining activities. Additionally, expanding construction expenditure and the presence of various small pumps producing companies will further complement the regional landscape. Key countries that are currently participating in the region are Australia, China, Japan, India, and Southeast Asian nations.

Increasing investments in the oil & gas sectors along with increasing production from existing and new hydrocarbon reserves will foster the North America ESP market size. Additionally, flourishing construction and mining industries, along with the implementation of definite standards to support specific application sectors, is set to supplement the regional outlook further. Major countries actively operating in the region are Canada and the U.S.

Europe's electric submersible pumps market is projected to unveil substantial growth owing to the ever-increasing requirement of water & wastewater recovery needs. Different types of units are widely installed across the region to irrigate dry lands, extract groundwater, pumping agriculture fields, and to mitigate flood risks. Furthermore, several associations are internationally operating across various countries to improve tools and programs to support the requirements of different fluid system technologies. Key countries actively participating in the expanse are the UK, Russia, Italy, France, and Germany.

Rapid development to improve existing infrastructure along with building new advanced structures with proper water management systems is expected to foster the Middle East & Africa industry size. Besides, high investments to produce more oil & gas coupled with the presence of old wells with reduced formation pressure has proposed high potential for the installation of innovative products. Major countries present in the pumps industry across the region are Gulf Cooperation Council nations and South Africa.

INDUSTRY KEY PLAYERS

“Fragmented Market Participants Along With Some Major Players Are Shaping Industry Trends”

Various companies operating in the market are scattered across different regions having local or global product coverage. Major companies are focused on delivering advanced products with pioneering automation features to improve monitoring and operational characteristics.

List Of Key Companies Profiled:

• 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

INDUSTRY DEVELOPMENT:

• In July 2021, Aramco, a Saudi Technologies Company, declared a global commercialization agreement in partnership with AccessESP for the well cleanup service and JumpStart flowback.  The JumpStart service uses a tubing electric submersible pump (ESP) system to safely, rapidly, and efficiently clean out gas and oil wells after workover operations or drilling.


• In June 2021, Recon Technology, Ltd. declared to secure a couple of contracts through its subsidiary, Beijing BHD Petroleum Technology Limited in China. The company signed contracts worth around USD 0.5 million with a division of China Petroleum & Chemical Corporation (Sinopec) to deliver ultra-deep electric submersible progressing cavity pumps along with other technical services for two gas wells.


• In April 2021, Halliburton, one of the leading suppliers of products and services for the energy industry, announced its first electric submersible pump (ESP) contract expected to start in the second half of 2021 in the Middle East. The company plans to invest in the region, as many mature fields come across the natural flow and need ESP systems to sustain production.


• In January 2021, Sawafi Borets announced a headquarters and production facility in a 21,000 square meter area in the King Salman Energy Park (SPARK) situated in Saudi Arabia’s Eastern province. The facility is expected to start operation in 2022 and serve as a hub for the testing, service, and manufacturing of the submersible pump systems, with a yearly production capacity of about  500 electrical submersible pumps (ESP).

REPORT COVERAGE

Electric submersible pump is operated completely underwater and is a category of centrifugal pump manufactured with suitable sealing methods to prevent fluid contact among components. The electrical motor has a firmly attached impeller at the end of its shaft and pump casing coupled to the motor frame. It finds usage in a wide range of applications as it doesn’t need priming for starting operations and helps in preventing the occurrence of pump cavitation. The devices generally operate in the vertical position and are highly efficient over alternatives like jet pumps.

The report provides detailed information regarding various insights into the market. Some of them are growth drivers, restraints, competitive landscape, regional analysis, and challenges. It further offers an analytical depiction of the electric submersible pumps market trends and estimations to illustrate the forthcoming investment pockets. The market is quantitatively analyzed from 2019 to 2026 to provide the financial competency of the market. The information gathered in the report has been taken from several primary and secondary sources.

Report Scope & Segmentation