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North America Electric Submersible Pump Market to Steer at 6% CAGR to 2026

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According to the Graphical Research new growth forecast report titled “North America Electric Submersible Pump Market By Industry (Oil & Gas {Onshore, Offshore}, Sewage & Wastewater, Agriculture, Building Services), By Well (Borewell {Sewage & Wastewater, Agriculture, Building Services}, Open well {Sewage & Wastewater, Agriculture, Building Services}), By Operation (Single Stage, Multistage), Industry Analysis Report, Country Outlook (U.S., Canada, Mexico), Application Potential, Competitive Market Share & Forecast, 2020 – 2026”, is anticipated to expand over 6% by 2026.

Growing investments toward upstream oil & gas activities favored by recovering crude oil prices will drive the market size. As per IEA, in 2019, the global upstream investments reached over USD 505 billion, that increased by 6% compared to previous year. In addition, the spending toward shale is expected to remain dynamic accounting for over 20% of the total investments. Furthermore, commencement of several offshore O&G production projects along with new hydrocarbon discoveries across the Gulf of Mexico will complement the industry landscape.

Rapid commercialization along with growing awareness toward advanced pumping technologies will foster the North America ESP market growth. Ongoing development across sewage plants and wastewater treatment facilities will instigate the demand for submersible sewage and slurry pumps. In addition, growing investments toward the development and refurbishment of existing infrastructure coupled with introduction of strict water management and usage norms will complement the business landscape.

Prevailing expansion of building network along with favorable government activities toward development of effective distribution facilities will fuel the Mexico electric submersible pump market growth. Ongoing replacement of conventional systems coupled with strict building efficiency codes have amplified the demand for newer technologies. Increasing demand from commercial and residential communities to facilitate water supply and distribution across the high-rise buildings and apartments will augment the industry landscape.

Diminishing water resources along with excessive digging of borewells for ground water extraction will facilitate the demand for agricultural submersible pumps. The units are deployed in large scale irrigation projects, kitchen gardens and farms. Some of the key specifications that include stainless steel design, wear & abrasion resistance and wide voltage range make them feasible compared to other available alternatives.

The single stage electric submersible pump market will grow on account of increasing adoption across industrial and commercial water pumping and robust demand from residential establishments. The systems have a simple design with maximum head of over 125 meters and low flow & low pump head deployed with a single impeller. Low cost in comparison to its substitutes coupled with availability in various power rating and voltage ranges will encourage the product penetration.

Leading players functioning across the North America electric submersible pump market include Borets, Schlumberger, Halliburton, Wilo SE, Weatherford, General Electric, Atlas Copco, Ebara, Sulzer, Crompton Greaves, Grundfos Holding, Novomet-Perm, Flowserve Corporation and Tsurumi Manufacturing. In addition, product differentiation and low-cost manufacturing are some of the key growth initiatives adopted by the industry leaders. In addition, significant spending in research and development along with integration of new technologies including sensors for downhole monitoring and surveillance will encourage the product adoption.

The North America Electric Submersible Pump Market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue in USD million from 2020 to 2026, for the following segments:

North America Electric Submersible Pump Market Share, By Industry

Oil & Gas

  • Onshore
  • Offshore

Sewage & Wastewater

Agriculture

Building Services

North America Electric Submersible Pump Market Size, By Well

Borewell

  • Sewage & Wastewater
  • Agriculture
  • Building Services

Open well

  • Sewage & Wastewater
  • Agriculture
  • Building Services

North America Electric Submersible Pump Market Value, By Operation

  • Single Stage
  • Multistage