Oil and Gas Electric Submersible Pump Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers ESP Oil and Gas Analysis & Production and it is Segmented by Location of Deployment (Onshore and Offshore) and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

Oil and Gas Electric Submersible Pump Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Oil & Gas Electric Submersible Pump Market Size

Electric Submersible Pumps Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
CAGR 6.20 %
Fastest Growing Market North America
Largest Market North America
Market Concentration Medium

Major Players

Electric Submersible Pumps Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Oil & Gas Electric Submersible Pump Market Analysis

The Oil and Gas Electric Submersible Pumps Market is expected to register a CAGR of greater than 6.2% during the forecast period.

  • The onshore sector accounts for the largest share in the electric submersible pumps market, owing to the increasing number of mature fields in the sector.
  • Developments of potential shale reserves around the world are expected to create significant opportunities for ESPs in the future.
  • North America dominated the market across the world, with the majority of the demand coming from the United States.

Oil & Gas Electric Submersible Pump Industry Overview

The oil and gas electric submersible pumps market is partially consolidated. Some of the major companies include Baker Hughes, Schlumberger Limited, Borets International Limited, Novomet, and Halliburton Company.

Oil & Gas Electric Submersible Pump Market Leaders

  1. Schlumberger Limited

  2. Borets International Limited

  3. Novomet

  4. Halliburton Company

  5. Baker Hughes Company

  6. *Disclaimer: Major Players sorted in no particular order
Electric Submersible Pumps Market Concentration
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Oil & Gas Electric Submersible Pump Market News

  • In February 2022, Calentix technologies brought in the Upwing Magnetic Drive System (MDS), which hermetically isolates all the failure-prone electrical components from the harsh production fluids by placing them in the annulus of the well as a part of the permanent completion. It also simplifies deployment and intervention using a slickline for the system's mechanical string.
  • In June 2021, Oil Dynamics GmbH upgraded the first 2 of 10 production wells for an oilfield operator who decided to renew and enhance pumping equipment at its site near Hannover, Germany. Oil Dynamics upgraded the wells from Progressing Cavity Pumps (PCPs) to Electric Submersible Pumps (ESPs).
  • In January 2021, ADNOC announced the award of a USD 946 million Engineering, Procurement, and Construction contract for the long-term strategic development of its Umm Shaif field. The EPC contract, which is due to be completed in 2025, incorporates fit for the future technology, including rigless electrical submersible pumps (ESP) and other digital field technologies, which will increase efficiencies while maintaining the current production capacity.

Oil & Gas Electric Submersible Pump Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Market Size and Demand Forecast in USD billion, till 2027
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.2 Restraints
  • 4.6 Supply Chain Analysis
  • 4.7 Porter's Five Forces Analysis
    • 4.7.1 Bargaining Power of Suppliers
    • 4.7.2 Bargaining Power of Consumers
    • 4.7.3 Threat of New Entrants
    • 4.7.4 Threat of Substitutes Products and Services
    • 4.7.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Location of Deployment
    • 5.1.1 Onshore
    • 5.1.2 Offshore
  • 5.2 Geography
    • 5.2.1 North America
    • 5.2.2 Europe
    • 5.2.3 Asia-Pacific
    • 5.2.4 South America
    • 5.2.5 Middle-East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Market Share Analysis
  • 6.3 Strategies Adopted by Leading Players
  • 6.4 Company Profiles
    • 6.4.1 Baker Hughes Company
    • 6.4.2 Schlumberger Limited
    • 6.4.3 Halliburton Company
    • 6.4.4 Borets International Limited
    • 6.4.5 ALKHORAYEF PETROLEUM
    • 6.4.6 DOS Canada Inc.
    • 6.4.7 Weatherford International
    • 6.4.8 ESP Ltd
    • 6.4.9 Extract Production Services LLC
    • 6.4.10 NOVOMET
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Oil & Gas Electric Submersible Pump Industry Segmentation

The scope of the oil and gas electric submersible pumps market report includes:

Location of Deployment Onshore
Offshore
Geography North America
Europe
Asia-Pacific
South America
Middle-East and Africa
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Oil & Gas Electric Submersible Pump Market Research FAQs

What is the current Oil and Gas Electric Submersible Pumps Market size?

The Oil and Gas Electric Submersible Pumps Market is projected to register a CAGR of greater than 6.2% during the forecast period (2025-2030)

Who are the key players in Oil and Gas Electric Submersible Pumps Market?

Schlumberger Limited, Borets International Limited, Novomet, Halliburton Company and Baker Hughes Company are the major companies operating in the Oil and Gas Electric Submersible Pumps Market.

Which is the fastest growing region in Oil and Gas Electric Submersible Pumps Market?

North America is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Oil and Gas Electric Submersible Pumps Market?

In 2025, the North America accounts for the largest market share in Oil and Gas Electric Submersible Pumps Market.

What years does this Oil and Gas Electric Submersible Pumps Market cover?

The report covers the Oil and Gas Electric Submersible Pumps Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Oil and Gas Electric Submersible Pumps Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

ESP Oil and Gas Industry Report

Statistics for the 2025 Oil and Gas Electric Submersible Pumps market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Oil and Gas Electric Submersible Pumps analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.