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Global Electric Submersible Pump Market Size & Outlook

The electric submersible pump industry worldwide is expected to reach a projected revenue of US$ 12,995.6 million by 2030. A compound annual growth rate of 5.5% is expected of the worldwide electric submersible pump industry from 2024 to 2030.

Revenue, 2023 (US$M)
$8,908.5
Forecast, 2030 (US$M)
$12,995.6
CAGR, 2024 - 2030
5.5%
Report Coverage
Worldwide

Global electric submersible pump market, 2018-2030 (US$M)

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Related Markets

North America Electric Submersible Pump Market Outlook

Europe Electric Submersible Pump Market Outlook

Asia Pacific Electric Submersible Pump Market Outlook

Latin America Electric Submersible Pump Market Outlook

MEA Electric Submersible Pump Market Outlook

Global electric submersible pump market highlights

  • The global electric submersible pump market generated a revenue of USD 8,908.5 million in 2023 and is expected to reach USD 12,995.6 million by 2030.
  • The market is expected to grow at a CAGR (2024 - 2030) of 5.5% by 2030.
  • In terms of segment, borewell accounted for a revenue of USD 8,908.5 million in 2023.
  • Borewell is the most lucrative product segment registering the fastest growth during the forecast period.
  • In terms of region, Asia Pacific was the largest revenue generating market in 2023.


Global data book summary

Market revenue in 2023USD 8,908.5 million
Market revenue in 2030USD 12,995.6 million
Growth rate5.5% (CAGR from 2023 to 2030)
Largest segmentBorewell
Fastest growing segmentBorewell
Historical data covered2018 - 2022
Base year for estimation2023
Forecast period covered2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationBorewell


Other key industry trends

  • In terms of revenue, the North America accounted for 16.9% of the global electric submersible pump market in 2023.

Key Regions: U.S. , UK , Japan , Brazil , Canada

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Electric Submersible Pump Market Scope

Electric submersible pump market segmentation & scope
Product
Borewell
Openwell
Non-Clog
End use
Agriculture
Construction & Building Services
Power Generation
Oil & Gas
Chemical
Others
Regions
Latin America
Europe
North America
Middle East & Africa
Asia Pacific
Countries
Argentina
Brazil
Denmark
France
Germany
Italy
Spain
Sweden
UK
Canada
Mexico
U.S.
Kuwait
Saudi Arabia
South Africa
Australia
China
India
Japan
South Korea
Thailand

Electric Submersible Pump Market Companies

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Global electric submersible pump market size, by regions, 2018-2030 (US$M)

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