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Europe Electric Submersible Pump Market Trends

Report ID: GMI12427
Published Date: Nov 2024
Report Format: PDF

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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.

Authors: Aviansh Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The European market for electric submersible pump was reached USD 3.3 billion in 2023 and is estimated to grow at a 7.9% CAGR from 2024 to 2032, driven by rising oil and gas exploration activities.

The borewell segment exceeded USD 2.1 billion in 2023 and is projected to grow at a CAGR of around 8% from 2024 to 2032, due to their superior performance in deep water sources.

The multistage segment accounted for approximately 60% of the Europe electric submersible pump market in 2023 and is anticipated to grow at a CAGR of 8% from 2024 to 2032, owing to their versatility and energy efficiency.

The Germany electric submersible pump market exceeded USD 680 million in 2023 and is expected to reach USD 1.37 billion by 2032, led by its strong industrial base and focus on innovation and technology.

Key players in the Europe electric submersible pump industry include ANDRITZ Ritz, Atlas Copco, EBARA Pumps, Flowserve, Schlumberger, Holland Pump, Framo, Franklin Electric, Liancheng Pump, Netzsch, Pentax, PRORIL Pumps, Rodelta Pumps International, SAER Elettropompe, and Sulzer.