Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 8.42 Billion | USD 12.11 Billion | 3.70% | 2024 |
FrequentlyAsked Questions
An electric submersible pump (ESP) is an artificial lift used for lifting resources or fluids submerged in the ground.
The global electric submersible pumps market is expected to be driven by the growing applications of the machine in the water & wastewater management industry.
According to study, the global electric submersible pumps market size was worth around USD 8.42 billion in 2024 and is predicted to grow to around USD 12.11 billion by 2034.
The CAGR value of the electric submersible pumps market is expected to be around 3.70% during 2025-2034.
The global electric submersible pumps market will be led by Asia-Pacific during the forecast period.
The global electric submersible pumps market is led by players like Kirloskar Brothers Limited, Grundfos, Shakti Pumps (India) Limited, Gorman-Rupp Company, Wilo SE, Pentair (Hydromatic Pumps), Tsurumi Manufacturing Co., Ltd., SPP Pumps, KSB SE & Co. KGaA, Sulzer Ltd., Pleuger Industries, Homa Pumpenfabrik GmbH, Franklin Electric, Xylem Inc., and Ebara Corporation.
The report explores crucial aspects of the electric submersible pumps market, including a detailed discussion of existing growth factors and restraints, while browsing future growth opportunities and challenges that impact the market.
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