Electric Submersible Pump Manufacturing in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Electric Submersible Pump Manufacturing Market Research Report | Industrial Machinery, Gas & Chemicals | General Purpose Machinery Manufacturing | Mar 2015

Pumped up: After brief decline, rebounding oil prices will improve downstream demand

IBISWorld’s Electric Submersible Pump Manufacturing market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Market Share of Companies
Baker Hughes Baker Hughes market share
Flowserve Corporation Flowserve Corporation  market share
ITT Corporation ITT Corporation  market share
Schlumberger Ltd. Schlumberger Ltd. market share
Industry Statistics & Market Size
Annual Growth 10-15
Annual Growth 15-20
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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 Analysis Chapter

Electric submersible pumps (ESPs) are a form of artificial-lift technology used to pump up oil and other liquids from the ground. ESPs, which can be used in both vertical and horizontal wells, have grown in popularity over the past decade because they are versatile, can pump large volumes and can break through deep reserves. The popularity of ESPs is expected to drive annualized industry growth of 2.5% in the five years to 2015.

However, this includes an expected temporary decline of 3.9% in 2015 due to the recent fall in crude oil prices, which will bring total revenue to $2.7 billion. The price of crude oil, which has lost half of its value since the fourth quarter of 2014, determines investment by oil drilling companies, the industry's primary market... purchase to read more


Industry ProductsRelated ReportsTable of Contents

What is the Electric Submersible Pump Manufacturing Industry?

This industry manufactures electric submersible pumps (ESPs) for oil and gas well drilling. Firms also provide monitoring systems, equipment engineering and other services that complement ESP systems.

Industry Products
Low-temperature pumpsHigh-temperature pumpsComplementary services
Industry Activities
Manufacturing electric submersible pumpsProviding oil well monitoring servicesPump installation

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