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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 is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

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
Revenue
$3bn
Annual Growth 10-15
2.5%
Annual Growth 15-20
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Profit
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Employment
5,717
Businesses
79
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 - Starting a New Business Chapter

There are moderate barriers to entering this industry. The cost of establishing manufacturing facilities and sourcing skilled employees may deter some firms. Pump manufacturing is an industrial endeavor that requires a large factory space and the use of industrial machinery, automated systems and vast energy resources in addition to skilled and semi-skilled human resources. The capital required to penetrate foreign markets may also be prohibitively high for all but the most capital-rich entrants.

In addition, there are barriers to success, including high levels of competition and market share concentration. The existing major players are well established in the market and enjoy cost advantages and customer loyalty... 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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