Europe Electric Submersible Pump Market Size - By Product Type, By Stage, By Type, By Power Rating, By Installation, By End User, By Distribution Channel, Analysis, Share, Growth Forecast, 2024 - 2032

Europe Electric Submersible Pump Market Size

The Europe electric submersible pump market size is estimated at USD 3.3 billion as of 2023 and is estimated to grow at a CAGR of over 7.9% from 2024 to 2032. Shifting towards Europe, the exploration of oil and gas is soaring in demand, and so is the need for electric subsea pumps. These electric submersible pumps (ESPs) are required in the oil and gas sector, where deep offshore and onshore field extraction is performed. In the continents of Europe, these pumps help in the production stages of the sourcing of crude oil, water, and other fluids from reservoirs.
 

Looking at the operations being conducted in Europe, engineers and geologists are needing these higher-performance electric pumps as the depth of the reservoir increases higher within the land. The North Sea and closer offshore locations have untapped oil reserves, and with further investment, exploration is forecasted to soar, allowing engineers and geologists to maintain production while using ESP technologies. According to reliable sources, The European Association of Geoscientists and Engineers (EAGE) allegedly states that the North Sea approach is key for exploration by investment and technology toward an economic reshaping of Europe.
 

Moreover, the Europe market for electric foams has increased due to technological developments in the geothermal and hydropower sectors. The open condemnation on environmental targets set at international summits means that European countries must shift their energy sources to sustainable ones, and electric submersible pumps are a vital part of ensuring energy systems are secure, especially during peak demand periods. The transition to more sustainable energy sources and tightening of environmental regulations are catalysts for enhanced electric pumps. These pumps help in reducing energy consumption and carbon emissions and thus help Europe’s sustainable emission targets.
 

Europe Electric Submersible Pump Market Trends

• The submersible pump market in Europe has shown increased adoption of automation and energy-efficient pumps, which is a good inclination for market development. Operators must reduce costs while also having to adhere to tough regulations for expanding infrastructures. This has led to a shift to energy-efficient ESP models. These pumps can operate with low energy yet are effective and reduce energy and operating expenses.
   
• Furthermore, machine learning, alert sensors, and even AI analytics have upgraded the pump systems. Automation makes it possible to monitor processes in real-time, maintain and exercise control over the system when it is not running, and enhance the operation of the pump, all of which improve system efficiency. The combination of all these smart innovations results in reduced downtime of equipment, improving its reliability and extending its operational lifespan. Such a strategy has improved overall effectiveness and reduced costs of electric submersible pump systems over time.
   

Europe Electric Submersible Pump Market Analysis

Electric submersible pumps are undoubtedly an excellent addition to Europe’s product line-up. The machine, however, comes with an expensive price tag in both its installation cost and maintenance cost. Nevertheless, this still does not mean that the market is getting choked up with overhead burdens, as there is a sizeable amount of investment pouring in towards finding more efficient and cost-effective solutions. Instead of focusing on the attendants for the ESP, we realize that these systems have a high demand for trained professionals, ensuring that the costs are operative are also on the higher end, further increasing resistance towards adoption in more traditional sectors.
 

Based on product type, The European market for electric submersible pumps is primarily driven by sales from Borewell, which were able to generate USD 2.1 billion in 2023 and is estimated to grow at a CAGR of 8% till 2032. There is a massive amount of investment and demand expected from the agricultural and industrial sectors. These types of pumps are austere and long-lasting and can endure demanding conditions. This is beneficial for long-term operation. Such ruggedness helps to reduce the frequency of repairs or replacements that borewell ESPs require, making these pumps growing market competitors for the extraction of water in Europe.
 

According to stage, the multistage segment held 60% share of the Europe electric submersible pump market in 2023. This segment is expected to have a CAGR of 8% between 2024-2032.
 

• There is a high demand for Multistage electric submersible pumps within Europe because of their adaptability, energy efficiency, reliability, and durability. These pumps are used in the transportation of fluids over long distances or to greater heights such as deep borewells or city water supply systems. This is because they are suitable for use in high-pressure levels, which has the benefits of saving energy and lowering costs in the long run. The distribution of the design across several impellers spreads high performance over the pumps and diminishes wear of the pumps, consequently extending the lifespan of the pumps. Such efficiency combined with low operating time has made these pumps popular in agricultural, oil and gas industries as well as in water management sectors.

By the year 2032, Germany is predicted to reach the USD 1.37 billion in revenue for the Europe electric submersible pump market. They reported a revenue of USD 680 million for the year 2023, exhibiting their control in the market for the past few years.
 

• Germany dominates the market for Europe electric submersible pumps owing to its technologies and advancements in both the innovation and manufacturing sectors. German industries, including the oil, gas, chemical, and treatment industries, require reliable and efficient pumping systems. This serves as a major factor why the German manufacturing sector can produce high-quality, durable, and high-performance pumps.
   
• The innovative technologies built up in Germany, energy-efficient and environmentally friendly electric submersible pump technologies, can be developed. For German companies, this is crucial, as clean technologies are a huge area of focus within the modern industry. Without a doubt, Germany has set the bar for the European precision engineering market, allowing them to perform as the leader.
   

Europe: In the estimated period of 2024-2032, the anticipated CAGR forecast for the European electric submersible pump market is 7.9%.
 

• Together with other countries in Europe, Germany is becoming a strong leader in the European electric submersible pump market, due to the country’s technological innovation and dedication to sustainability. The country is at the forefront in the development of modern ESP technologies that are energy-efficient, cost-effective, and environmentally friendly. German manufacturers spend substantial resources in R&D to design pumps that are efficient and advanced due to the increasing need for these kinds of systems.
   
• Additionally, to meet their targets of emissions reduction, Germany has strict environmental guidelines in place, which promote the use of energy-efficient and low-emission pumps manufactured in Germany. Such a regulatory environment fosters industries to be innovative and develop cost-effective products with reduced emissions. It is these reasons that place Germany at the forefront in the ESP sector as both a technology developer and an advocate of environmentally friendly practices within industries.
   

Europe Electric Submersible Pump Market Share

The share of the electric submersible pump market held by manufacturers like EBARA Pumps, Liancheng Pump, Schlumberger, Sulzer, and Atlas Copco continues to be between 10% and 15%. These manufacturers are also prioritizing R&D to produce new strategies to cater to the ever-evolving industry trend. This involves using new materials, retro carpeting extreme performance areas, and minimizing maintenance. The growing energy costs and the need for greater conservation are the forces behind the trend of developing energy-efficient pumps. Included are better motor systems and variable frequency drives to economize power consumption and reduce costs.
 

As the competition heats up, the focus turns to designing new products, conducting R&D, planning for environmentally friendly products and services, fostering industrial partnerships, and expanding geographically to effectively respond to the oil and gas, water, and sewage treatment sectors.
 

Europe Electric Submersible Pump Market Companies

Major players operating in the Europe electric submersible pump industry are:

• ANDRITZ Ritz
• Atlas Copco
• EBARA Pumps
• Flowserve
• Schlumberger
• Holland Pump
• Framo
• Franklin Electric
• Liancheng Pump
• Netzsch
• Pentax
• PRORIL Pumps
• Rodelta Pumps International
• SAER Elettropompe
• Sulzer
   

Europe Electric Submersible Pump Industry News

• In July 2024, Flowserve Corporation completed the acquisition of the intellectual property and the in-development R&D for the Liquefied Natural Gas Submerged Pump Technology system and packaging from NexGen Cryogenics Solutions. 
   
• In April 2024, ChampionX Corporation was acquired by SLB as a result of an all-stock deal.
   
• In January 2024, Franklin Electric confirmed that its fully owned subsidiary Headwater Companies, Inc. bought the assets of LCA Pump, LLC.
   

This Europe electric submersible pump market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) & volume (Thousand Units) from 2021 to 2032, for the following segments:

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Market, By Product Type

• Borewell 
• Open well

Market, By Stage

• Single Stage
• Multistage

Market, By Type

• Automatic
• Semi-automatic

Market, By Power Rating

• Below 50 HP
• 50-100 HP
• 100-300 HP
• Above 300 HP

Market, By Installation

• Vertical pump
• Horizontal pump

Market, By End User

• Residential
• Commercial
• Industrial
  • Oil & Gas
  • Water & Wastewater
  • Agricultural & Irrigation
  • Construction
  • Mining
  • Others

Market, By Distribution Channel

• Direct Sales
• Indirect Sales

The above information is provided for the following regions and countries:

• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Norway
  • Netherlands
  • Russia
  • Poland
  • Sweden