DUBLIN--(BUSINESS WIRE)--The "Global Electric Submersible Pumps Market - Analysis by Location of Deployment and Geography - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
ESPs are widely used in the oil & gas industry due to its higher efficiency, low maintenance and low space requirements. Moreover, the growing oil & gas industry is expected to drive the market for ESP systems and has several opportunities for the market in future.
The electric submersible pump market is expected to grow in the near future, owing to increasing focus on improvement in oil & gas upstream activities. The worldwide rig count stood at 2,179 in March 2018 and it is anticipated to increase in coming years on account of growth in increasing exploration & production (E&P) activities.
Moreover, increase in number of depleting reserves across the world is expected to create increasing market opportunities for electric submersible pumps business. ESPs, can bring more oil to the surface by boosting the pressure in a reservoir, and hence, are increasingly being used in unconventional wells to maximize economics of oil. Major oil companies are expanding their business in ESPs.
Key Highlights
- New Deepwater and Ultra-deep Water Development Projects is Driving the Market
- North America to Dominate the Market Growth
Developments in the Market
- February 2018: Weatherford International plc launched a new software for its ForeSite production optimization platform. The software builds on the platform's existing capabilities, which include optimization support for reciprocating rod-lift systems, by adding support for gas-lift and electric submersible pump (ESP) systems, as well as naturally flowing wells.
Key Topics Covered
1. Executive Summary
2. Research Methodology
3. Market Overview
4. Market Dynamics
5. Value Chain Analysis
6. Industry Attractiveness - Porter's Five Forces Analysis
7. Market Segmentation and Analysis
8. Regional Market Analysis
9. Key Company Analysis
- General Electric
- Schlumberger Limited
- Halliburton Company
- Borets International Limited
- Grundfos Pumps Corporation
- Falcon Pumps Pvt. Ltd.
- Weatherford International
- Walrus America Inc
- Torqueflow Sydex Ltd
- JSC Novomet-Perm
10. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/research/hqrs77/global_electric?w=4
