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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 provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

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 - Industry SWOT Analysis Chapter

The Electric Submersible Pump Manufacturing industry is in the mature phase of its lifecycle. IBISWorld expects industry value added (IVA), which measures an industry's contribution to the US economy, to increase an annualized 2.6% in the 10 years to 2020. This closely follows forecast US GDP growth over the period of 2.5% per year on average and reflects a steady contribution of the industry to the economy.

Other factors are indicative of maturity. ESPs are widely accepted in oil and gas markets and, despite rapid technological change, they have long been one of the primary methods of pumping fluid from deep wells. In addition, the industry is small and highly consolidated... 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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