Albany, NY -- (SBWIRE) -- 12/22/2015 -- The report states that the rising numbers of new oilfield explorations across the globe owing to the mounting demand for energy is a key factor propelling the market. The global electrical submersible pumps market is expected to expand at a healthy 8.94% CAGR between 2014 and 2022. At this pace, the market, which had a valuation of US$10.6 bn in 2013, will rise to US$16.7 bn by 2022.The report is titled, "Electrical Submersible Pumps (ESPs) Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2014 - 2022", and is available on the company website for sale.

Browse the full Electrical Submersible Pumps (ESPs) Market 2014 - 2022 report at http://www.transparencymarketresearch.com/electrical-submersible-pumps-market.html

A new market research report recently published by Transparency Market Research (TMR) presents a 360-degree overview of the global market for electrical submersible pumps. The report estimates and forecasts the demand trends for electrical submersible pumps on a global and regional front for a period between 2013 and 2019. The report presents a detailed overview of the key drivers, restraints, trends, and opportunities in the market and an analysis of the overall impact of these factors on market's development.

The report presents a detailed analysis of the product value chain, and covers details from sourcing of core materials to the end-use. The demand for electrical submersible pumps, the multistage centrifugal pumps that find extensive usage in the oil industry for improved oil production from oil wells, has close parallels with the overall growth of the oil industry. Over the past few years, factors such as increasing investments in brown and green field projects and rise in production from unconventional resources and mature oilfields have led to a significant rise in demand for electrical submersible pumps.

The report segments the global electrical submersible pumps market on the basis of two broad criteria: application and geography.On the basis of application, the market is segmented into onshore and offshore. On the basis of geography, the market is segmented into North America, Europe, Asia Pacific, South and Central America, and Middle East and Africa.

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The report states that the global ESP market earns a very large share of its revenues from the application segment of onshore fields. The installation of ESPs in offshore fields is easier and incurs low costs owing to the less adverse conditions as compared to offshore fields. In 2013, the market segment of onshore fields accounted for over 76% of the global ESP market.

A detailed overview of the competitive landscape of the global electrical submersible pumps market has also been given in the report. The report also includes detailed business profiles, financial details, an overview of business strategies, recent developments in the market, and a detailed SWOT analysis of the key vendors in the market. The SWOT analysis gives a clear picture of the strengths and weaknesses of the companies and the opportunities and threats faced by them in the global ESP market. Some of the key vendors in the market are Halliburton Company, Baker Hughes Incorporated, Schlumberger Limited, Borets Company, LLC., and Weatherford International.

The market is segmented as

ESPs Market: By Application

Onshore
Offshore

ESPs Market: By Region

North America

U.S.
Canada
Rest of North America

Asia Pacific

China
Indonesia
Rest of Asia Pacific

Europe

Russia
Norway
Kazakhstan
Rest of Europe

Middle East & Africa

Saudi Arabia
United Arab Emirates
Nigeria
Rest of Middle East & Africa

South & Central America
Venezuela
Brazil
Rest of South & Central America

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