COVID 19 to Have Significant Effect on Worldwide Adoption of Electric submersible pump (ESP) in 2021

13/gen/2021 08:25:37 Ankush Nikam Contatta l'autore

The global Electric submersible pump (ESP) market is estimated to generate nearly US$ 82 Mn in 2020, expanding steadily to reach a valuation of US$ 13 Bn by the end of the forecast period.

A sizeable demand pull from key end-use industries and well-established markets is poised to generate a steady growth curve during the assessment period. Over time, Electric submersible pump (ESP) have found extensive applications for industrial de-watering. This has catapulted the demand for continuous-duty motors, having cycles exceeding 20 minutes.

The need to access potable water for municipal purposes has also accelerated Electric submersible pump (ESP) demand. By 2025, it is predicted that nearly a quarter of the global population will experience water scarcity, mostly attributed to injudicious usage. Therefore, water management systems incorporating Industry 4.0 have become important to ensure zero wastage. Technologies such as artificial intelligence, big data analytics and the internet of things are being incorporated into Electric submersible pump (ESP) to track domestic and commercial water usage.

The coronavirus pandemic has dented short-term growth prospects for the market. As countries reel under the economic downturn induced by the closure of business operations, end-use industries have experienced significant downsizing of their operations. Consequently, there has been a decline in cash inflow, reducing the demand for Electric submersible pump (ESP). However, vendors are exploiting this hiatus to strengthen their existing portfolios by incorporating technological and mechanical advancements and develop better quality pumps.

For more insights into the Market, request a sample of this report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-817

"As the global outreach of Electric submersible pump (ESP) deepens over time, market players are increasingly resorting to online marketing in order to broaden their customer base. Additionally, vendors are rolling out several incentives in the form of price reduction and after-sales service, heightening growth prospects for the future," infers an FMI analyst.

Key Takeaways from FMI's Electric submersible pump (ESP) Market Study

  • Electric submersible pump (ESP) market shall expand at a 5% CAGR during the 2020-2030 forecast period
  • Industrial sector shall account for 3/4th of new Electric submersible pump (ESP) demand by 2030
  • US, Japan and China collectively account for 30% of Electric submersible pump (ESP) sales, attributed to heavy industrialization in these countries
  • Smart Electric submersible pump (ESP) providing real-time data and predictive maintenance are gaining immense traction
  • Borewell Electric submersible pump (ESP) shall remain highly preferred, capturing 50% of the revenue share
  • Emphasis on wastewater treatment and sustainable sewage infrastructure renders Asia-Pacific a lucrative market for submersible pump manufacturers

Electric submersible pump (ESP) Market- Key Trends

  • Submersible water pumps equipped with sensors and visualization tools are becoming mainstream. These pumps enable engineers to maintain better records of the water systems. This helps reduce wastage, enhances system efficiency and improves quality
  • The oil & gas industry is increasingly adopting Electric submersible pump (ESP) as they are highly effective in extracting liquids from wells with low bottomhole pressure. The industry is leveraging IoT to increase operational output.
  • Heavy usage of corrosive chemicals in the paper pulping and wastewater management segments may not bode well for the pumps used, increasing chances of wear and tear and increase maintenance costs.
  • Operations beyond the Best Efficiency Point (BEP) range of 30% can cause significant damage to the pump due to cavitation, thus limiting their uptake in industrial sectors.

How FMI's Market Research Expertize can help you create recession-proof Business https://www.entrepreneur.com/article/353033

Electric submersible pump (ESP) Market- Region-wise Analysis

  • East Asia shall spearhead the regional landscape of Electric submersible pump (ESP), with China contributing the maximum revenue due to it being a manufacturing hub
  • High domestic consumption of industrial and municipal grade Electric submersible pump (ESP) is accelerating production in the Chinese market
  • Significant investments in waste water treatment plants to address water scarcity characterizes the Chinese market landscape. For instance, the Bailonggang waste water treatment plant is Asia's largest water treatment facility, possessing a catchment area spanning over 270 kilometers
  • More than 33% of waste water produced by Shanghai is treated in this plant everyday

We offer tailor-made solutions to fit your requirements, request customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-817

Electric submersible pump (ESP) Market- Competitive Landscape

The Electric submersible pump (ESP) market players are leveraging Industry 4.0 in order to provide technologically advanced Electric submersible pump (ESP) to end-users. For instance, Grundfolds has partnered with Telenor Connexion and Ericsson to devise a cutting edge IoT Platform to manage water infrastructures across the world.

Players also resort to offering inexpensive solutions, smart technologies and customized offerings. Examples of this approach are of Hydroo Pump Industries which offers IE-3 certified user-friendly, robust and reliable Electric submersible pump (ESP) for irrigation, wastewater treatment, and HVAC & building services. Similarly, Xylem Inc., an American company, offers the Flygt Concertor smart wastewater pumping system to reduce water sanitation and servicing expenses.

Electric submersible pump (ESP) Market Taxonomy

Product Type

  • Non Clog Electric submersible pump (ESP)
  • Open Well Electric submersible pump (ESP)
  • Bore Well Electric submersible pump (ESP)

Head Type

  • Below 50 meters
  • 50-100 meters
  • Above 100 meters

Application

  • Agriculture
  • Industrial
    • Oil & Gas
    • Firefighting
    • Mining
    • Construction
    • Other
  • Municipal
  • Water Supply & Distribution
  • Wastewater Management

Region/Country

North America

  • U.S
  • Canada

Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

Europe

  • Nordic countries
  • U.K
  • Germany
  • France
  • Russia
  • Rest of Europe

South Asia & the Pacific

  • India
  • ASEAN
  • Oceania
  • Rest of South Asia & the Pacific

East Asia

  • China
  • Japan
  • South Korea

Middle East & Africa

  • GCC
  • Southern Africa
  • Turkey
  • Rest of MEA

Get full Report Now: https://www.futuremarketinsights.com/checkout/817

Know more about FMI's Electric submersible pump (ESP) Market Study

Electric submersible pump (ESP) market, a new study from Future Market Insights, opines on the study of Electric submersible pump (ESP) market dynamics from 2015 - 2019 and presents demand projections from 2020 - 2030 bringing to the fore the prominent drivers, restraints and opportunities lying in store for the industry. The market has been segmented in detail, elucidating on the revenue prospects and market share across seven prominent regions.

Explore Extensive Coverage on FMI's Industrial Automation & Equipment Landscape

Centrifugal Pumps Market: FMI's centrifugal pumps market study provides a comprehensive bird's-eye view on the key dynamics impacting market growth for the 2020-2030 assessment period. It brings to fore insights that can help stakeholders identify the opportunities and challenges across key regions.

Water Treatment Market: Glean vital information about the water treatment market growth prospects across key regions in FMI's extensive coverage in its research report for the upcoming forecast decade.

Sea Water Injection Pumps Market: FMI's report studies the sea water injection pumps market based on horsepower, application and end-user across seven major regions, bringing to fore insights that can help stakeholders identify opportunities as well as challenges associated with the growth of the market.

 About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.

Contact

Mr. Abhishek Budholiya

Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,

Jumeirah Lakes Towers, Dubai,

United Arab Emirates

MARKET ACCESS DMCC Initiative

For Sales Enquiries: sales@futuremarketinsights.com

For Media Enquiries: press@futuremarketinsights.com

 

blog comments powered by Disqus
Comunicati.net รจ un servizio offerto da Factotum Srl