Submersible Pumps Global Market Research Report: Information by Well Type, by Operation, by End-User, by Power rating, & by Region (North America, Europe, APAC, Middle East &Africa) – Forecast Till 2023

Pune, India -- (SBWire) -- 08/01/2018 --Market Overview:-

Accrediting the prominence Electric Submersible Pumps are gaining in the current scenario and projecting the traction its growing market size would gain in the future, the Market Research Future, recently published a brilliant study report according to which the global Electric Submersible Pumps market is forecasted to demonstrate a quadrupled growth by 2027, crossing its previous growth records in terms of value posting a whooping CAGR during the estimated period (2017 – 2027). The Global Electric Submersible Pumps market is forecasted to perceive substantial growth accruals by 2027, registering substantial expansion rate during the period 2017 to 2027.

Electrical Submersible Pumps are Low maintenance, small sized hence portable and highly efficient in terms of output. And these very factors not only make ESPs popular but also drive the ESP market. The demand for submersible pumps from agriculture and wastewater treatment industries is expected to remain significant throughout the forecast period. Development of new sources of safe drinkable water and small and medium scale industrial development are further expected to push the demand for submersible pumps over the forecast period 2017-2027. The highly competitive Market of ESPs promises a good fortune in the years to (2017-2027).

Industry Top Key Players:-

The key players of the global submersible pumps market are Xylem, Inc. (U.S.), Sulzer AG (Switzerland), KSB Group (Germany), Grundfos Group (Denmark), Ebara Corporation (Japan), Flowserve Corporation (U.S.), and Tsurumi Manufacturing Co., Ltd (Japan). Gorman-Rupp Company (U.S.), General Electric Company (U.S.), WILO SE (Germany), The Weir Group Plc (Scotland), Walrus Pump Co., Ltd. (Taiwan), Atlas Copco AB (Sweden), and Kirloskar Brothers Limited (India) are among others.

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Competitive Landscape:-
The submersible pump market is marked with the presence of major global and local vendors. The key players in the market are focusing on product offerings and after-sales services to remain competitive in the market.

Industry/ Innovation/ Related News:-

October 30, 2017 – Borets Seven Seas & Co, Dubai, announced that they are expanding in Oman by opening a $7.5m pump factory in Oman's Sohar Industrial Estate on 29 October, 2017. The facility will assemble and service ESPs, which provide an efficient and reliable artificial-lift method for extracting moderate to high volumes of fluids from wellbores, for use in oil and water wells. Petroleum Development Oman (PDO) has announced that it has received the first Oman-made electric submersible pump (ESP) system for its oil operations from Borets factory in Sohar.

October 30, 2017 – DIVERGENT Energy Services Corp. (Canada) announced that it has been awarded a three-year preferred service contract to supply electric submersible pumps (ESP) and services. DIVERGENT, through its wholly owned US subsidiary Extreme Pump Solutions, LLC and Carbon Creek Energy, LLC have entered into an exclusive preferred product and services agreement where Extreme will provide electric submersible pumps and services for a period of three years in Carbon Creek's Coal Bed Methane project in the Powder River Basin. Carbon Creek is a leader in coal-bed natural gas production with 6,800 natural gas wells, and the agreement will provide Extreme with a strong and sustainable base of revenue with an incentive that increases profitability as pump performance improves

November 20, 2017 - Los Alamos National Laboratory, operated by Los Alamos National Security, LLC (USA), won eight awards for technologies/ R&D at R&D Magazine's annual ceremony in Orlando, Florida. One of among 8 awards is for "High-Temperature Electric Submersible Pump Motor (HT-ESP)": Keeping pump motors cool in deeper, extremely hot environments. These diverse inventions include applications for clean energy technology and several of these technologies, developed through partnerships, are already available to the public.

Regional Analysis:-

On the basis of region, the market has been segmented into North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific dominates the global submersible pumps market in 2017. High growth in construction industry in Asia Pacific region is the major factor driving the growth of the market. Economic growth in the region has allowed for a greater requirement of institutional and commercial infrastructure spaces. Governments of emerging countries such as China and India are focusing on urbanization, industrialization, and agricultural development, which is expected to drive the demand for submersible pumps in the region. China, India, Japan, and Indonesia are the key contributors in the region. China is expected to dominate revenue share in the Asia Pacific submersible pumps market over the forecast period.

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Major Points of TOC:-

1 Executive Summary
2 Scope Of The Report
3 Market Landscape
3.1 Porter's Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis

4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends

Contiued......