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

Europe Electric Submersible Pump Market was valued at USD 3.3 billion in 2023 and is estimated to grow at a CAGR of over 7.9 % from 2024 to 2032. In Europe, the rising oil and gas exploration activities are driving a higher demand for electric submersible pumps. Oil and gas industries aim to maximize output from both offshore and onshore fields, so they need efficient and reliable pumping solutions to manage large fluid volumes. Electric submersible pump are essential in the production process, helping extract crude oil, water, and other fluids from reservoirs.
 

Additionally, In Europe, the focus on renewable and alternative energy sources is further increasing the demand for electric submersible pumps, especially in geothermal and hydropower sectors. As European countries aim for sustainable energy to meet environmental goals, ESPs are essential for improving energy efficiency. The move towards greener energy and stricter environmental rules is driving the use of advanced ESPs. These pumps reduce energy use and carbon emissions, aligning with Europe's sustainability goals.
 

Europe Electric Submersible Pump Market Trends

In the Europe electric submersible pump industry, energy-efficient pumps and automation are becoming more popular. As operators need to cut costs and meet strict environmental rules, so they are choosing energy-efficient ESP models. These pumps use less power but still perform well, helping operators save on energy bills and reduce their carbon footprint. Automation and smart technologies like alert sensors and AI analytics are also improving pump systems. Automation allows for real-time monitoring, predictive maintenance, and better pump performance, which reduces downtime and extends the equipment's lifespan. This focus on energy efficiency and automation is making electric submersible pump systems more productive, dependable, and cost-effective over time.
 

Europe Electric Submersible Pump Market Analysis

In Europe, the electric submersible pump (ESP) industry faces high installation and maintenance costs. The large initial investment for buying and installing ESP systems, along with ongoing maintenance expenses, can restrict smaller companies and operators with limited budgets. Additionally, electric submersible pumps need specialized technicians for installation and upkeep, which further increases costs. These high expenses can delay adoption, especially in sectors with strict cost controls, limiting market growth unless more affordable solutions and innovations are introduced.

Based on product type, the borewell segment exceeded USD 2.1 billion in 2023 and is estimated to grow at a CAGR of around 8% from 2024 to 2032, because of their better ability to work well in deep water that found to be dependable among the users. These pumps are designed for deep water sources, making them ideal for areas where surface water is scarce or unreliable. They can extract water from deep underground, ensuring a steady water supply for agriculture, industry, and municipalities. Known for their reliability, these pumps can manage harsh conditions like high pressure and varying temperatures, which is important for long-term use. This durability reduces the need for frequent repairs or replacements, making borewell ESPs a cost-effective and dependable choice for water extraction, strengthening their position in the European market.
 

Based on stage, the multistage segment accounted for around 60% share of the Europe electric submersible pump market in 2023 and is anticipated to grow at a CAGR of 8% from 2024 to 2032. In Europe, Multistage electric submersible pumps are popular because they are versatile, energy-efficient, dependable, and long-lasting. These pumps are great for moving fluids over long distances or to high places, like deep borewells and city water systems. They manage high pressures well, which saves energy and reduces costs over time. The design spreads the workload across multiple impellers, making the pumps more dependable, reducing wear, and extending their lifespan. This makes them a top choice for industries such as agriculture, oil and gas, and water management, where high performance and minimal downtime are essential.
 

Germany electric submersible pump market is likely to exceeded USD 680 million in 2023 and is expected to reach USD 1.37 billion by 2032. Germany leads the European electric submersible pump market due to its strong industrial and manufacturing base and its focus on innovation and technology. Key industries in Germany, such as oil and gas, chemicals, and water treatment, need reliable and efficient pumps systems. Germany's advanced manufacturing ensures high-quality, durable, and high-performance pumps. Additionally, Germany’s commitment to innovation leads to the development of energy-efficient and environmentally friendly ESP technologies. This focus on technology helps German companies offer pumps that perform well and meet strict environmental standards, making Germany a leader in the European ESP market.
 

Europe: The Europe electric submersible pump market is expected to grow at a CAGR of 7.9% over the forecast period from 2024-2032. Germany's focus on innovation and technology and its commitment to sustainability drive its leadership in the European electric submersible pump market. The country leads in developing advanced ESP technologies that prioritize energy efficiency, reduce operational costs, and minimize environmental impact. German manufacturers invest heavily in research and development to create high-performance pumps that meet the growing demand for smarter, more efficient systems. Moreover, Germany's commitment to sustainability is reflected in strict environmental regulations that encourage the use of energy-efficient pumps with low emissions. This regulatory framework pushes industries to find solutions that meet both performance and environmental goals. These factors ensure that Germany remains a leader in the ESP market, driving technological advancements while promoting sustainable practices in industrial operations.
 

Europe Electric Submersible Pump Market Share

Manufacturers such as Altas Copco, EBARA Pumps, Schlumberger, Liancheng Pump, and Sulzer hold about 10%-15% of the total market. They are investing heavily in R&D to create innovative solutions that meet changing industry needs. This includes using more durable materials, improving performance in extreme conditions, and reducing maintenance. With rising energy costs and environmental concerns, manufacturers are also developing energy-efficient pumps. These include variable frequency drives and better motor systems to cut power use and lower costs. By focusing on innovation, R&D, sustainability, industries relationships, and global growth, manufacturers in the market aim to stay competitive and meet the growing demands of industries like oil and gas, water, and wastewater treatment.
 

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 acquired the intellectual property and in-process R&D associated with cryogenic Liquefied Natural Gas (LNG) submerged pump technology, systems, and packaging. This acquisition was made from NexGen Cryogenic Solutions, Inc. 
   
• In April 2024, SLB acquired ChampionX Corporation in an all-stock transaction.
   
• In January 2024, Franklin Electric Co., Inc. announced that its wholly owned subsidiary, Headwater Companies, LLC, had acquired all 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