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treatment is some of the vital applications of ESP in the industrial sector. Based on industry, the ESP market is segmented further into construction, power and energy, chemicals, food and beverage and waste water and water treatment.
The ESP market can be segmented into five regions such as North America, Europe, Asia- Pacific, South and Central America and the Middle East and Asia. In the year 2013, the largest consumer for ESP was Europe and will continue to be the largest market because of the increasing number of mature oil fields in Kazakhstan, UK, Russia, and Norway, followed by North America, Asia-Pacific. The market in Central and South America will be growing on account of a large number of mature fields in Venezuela and Brazil.
The leading player in the market such as Sulzer AG, Grundfos Group, Xylem Inc, KSB Group, Ebara Corporation, ITT, WILO, Schlumberger and Haight Pumps enjoys a prominent place in the market. The players in this market invest in R & D in order to enhance their products efficiency. These companies are expanding into new regions in order to take advantage of the opportunities present in the regions such as Africa, Asia Pacific, South America and Middle East through JV ' s, partnerships, mergers, and acquisitions. This will allow them to minimize the risk of the company ' s revenue being concentrated on one single region an d even if economic growth is low in some regions.
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