Industry Analysis & Industry Trends
The Electric Submersible Pump Manufacturing industry benefits from near-constant demand for oil and gas, and experienced steady growth in the past five years. However, revenue is expected to briefly decline in 2015 due to low oil prices. The global price of oil has lost nearly half its value since late 2014 due to oversupply, leading drilling firms to curtail production and, in turn, reduce their demand for industry products. Nevertheless, oil prices are expected to rebound in the five years to 2020, and the industry will consequently resume its growth over the period. The largest four companies will continue to control a majority of the market, reaping high profits and investing in ongoing technological innovation.... purchase to read more
Industry Report - Industry Products Chapter
Low-temperature pumps are the most common type of electric submersible pump (ESP) manufactured by this industry, generating an estimated 59.5% of revenue in 2016. This segment encompasses pumps not specifically designed for the high temperatures of deep and offshore oil wells. These economical and efficient pumps are used to reduce the pressure at the bottom of an oil well, which allows a higher level of oil production from the well.
High-temperature ESPs are designed to operate in the deepest oil wells, which are typically offshore wells. These ESPs are typically just more robust versions of their low-temperature counterpart. However, this allows them to work in temperatures up to 300 degrees Fahrenheit... purchase to read more