Energy & Power Industry Reports Electrical Submersible Pump Market Insights | Page 2

Hexa Research Fact-based market research, penetrating industry insights and validated forecasts to help you make better decisions for a stronger future On the basis of types, electric submersible pumps are classified as openwell and borewell. Openwell submersible pumps are suitable where there is irregular water supply. The pump operates from underneath the water and rest part stays on the surface of the well. Easy installation and low maintenance are the major advantages of this type of pumps. A Borewell pump uses diffusers and impellers made up of thermoplastic. Vibration and noise free operation give a boost to the longevity and efficiency of the motor. This pump is capable of heavy duty operation and can easily be repaired and dismantled. Pond and canal irrigation, gardening and forest water supply, community water supply, pond and sprinkler systems are the major application of the borewell pumps. On the basis of operation, ESP is segmented into two types such as single stage pump and multi-stage pump. Single stage pumps are used for sewage pumping, drainage pumping, and industrial pumping whereas multistage pumps are used for extraction of oil from the well, extraction of water in an industrial, residential and commercial sector. Currently, there are numerous drivers for the ESP market. One of the prominent drivers is raising oil and gas production which focuses on reinforcing the growt h of the ESP market in future. Electric submersible pumps have become a crucial part of the crude oil extraction process, contributing in raising the efficiency of oil production. A deep and ultra -deep offshore drilling activity of oil and gas exploration is the major driver of the submersible pump market. These drivers have the potential to drive the market in future, but the market requires handling critical breakdown and damages such as motor failure, high cost associated with troubleshooting the system and handling environmental issues associated with the operations. On the basis of application, ESP market is classified into industrial, agriculture and Domestic. The industrial sector is the largest shareholder contributing in the market share of ESP. Draining out water from the holes during construction and mining process, in the case of floor facilities such as dewatering, sewage, and effluents treatment, waste water Contact: [phone] Email : [email protected] Website: http://www.hexaresearch.com/