Comprehensive Snapshot of Electric Submersible Pumps Market Research Report, Including Regional and Country Analysis in Brief.
Industry: Industrial Automation
Delivery Timelines: Please Contact Sales
Published Date: May-2025
Format: PPT*, PDF, EXCEL
Number of Pages: 180
ID: PMRREP35330
According to the Persistence Market Research report, the global electric submersible pumps market size is poised to reach US$ 11,741.3 Mn and is forecast to value at US$ 18,007.3 Mn and expand at a CAGR of 6.3% by 2032. The growth is majorly driven by a rise in demand from industries such as oil & gas, mining, wastewater management, and agriculture. The oil and gas sector continues to be a prominent demand driver, supported by rising global oil demand, which is set to accelerate to just over 1 mb/d in 2025, reaching 103.9 mb/d. With Asia contributing nearly 60% of the gains, led by China’s need for petrochemical feedstocks, the increasing throughput and expansion in non-OECD crude processing further boost the demand for efficient pumping solutions.
The water and wastewater segment contributes to market growth with increasing focus on infrastructure resilience, sustainable urban water cycles, and climate mitigation. As affordability and access to clean water remain critical, improved wastewater treatment supports circular economy goals. Currently, an estimated 52% of global wastewater is treated, with significant disparities across income groups high income countries treat 74% of wastewater, while low-income countries treat only 4.3%. This gap drives investments in treatment infrastructure, particularly in developing nations, spurring the deployment of high-performance pump systems in municipal and industrial applications.
Key Industry Highlights:
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Global Market Attribute |
Key Insights |
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Electric Submersible Pumps Market Size (2024A) |
US$ 11,045.4 Million |
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Estimated Market Size (2025E) |
US$ 11,741.3 Million |
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Projected Market Value (2032F) |
US$ 18,007.3 million |
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Value CAGR (2025 to 2032) |
6.3% |
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Historical Market Growth (CAGR 2019 to 2024) |
5.6% |
The market developments reflect growing pressure to optimize energy usage and ensure continuous performance in tough environments. For instance, manufacturers continue to prioritize efficiency and operational flexibility in pump design. Sulzer’s launch of the XJ 900 and compact J-series models responds to the mining and civil sectors’ demand for high-head and portable systems, delivering enhanced energy efficiency and reduced downtime.
Wastewater management and agricultural sectors are pushing for innovation. Sulzer’s ContraBlock Evo hydraulics upgrade directly tackles clogging and maintenance issues in sewage systems, while Kirloskar Brothers' newly launched water- and oil-filled models serve the irrigation needs of voltage-fluctuation-prone regions. These launches show how companies tailor solutions to critical end-user challenges.
Advancements in pump technology now emphasize long-term durability, ease of maintenance, and 24/7 operation. The use of corrosion-resistant materials and digital optimization in newer models strengthens reliability across sectors. These innovations collectively accelerate the shift toward robust, high-performance Electric Submersible Pumps across industrial, municipal, and agricultural applications.
Electric submersible pumps (ESPs) are often deployed in challenging environments such as deep oil wells, mining pits, and corrosive wastewater systems. Operating under high pressure and extreme temperatures increases wear and tear, leading to frequent servicing and component replacement. This raises the total cost of ownership, making ESPs less attractive for budget-constrained sectors, particularly in developing economies.
Oil supply is increasing globally, driven by production boosts from the United States, Kazakhstan, Iran, and Venezuela, along with the unwinding of OPEC+ cuts. With the U.S. producing at record highs and major projects like the Tengiz expansion in Kazakhstan coming online, upstream operators are expanding output capacity. These developments increase demand for artificial lift systems, particularly electric submersible pumps (ESPs), which are essential in high-volume production environments.
The expected supply surplus of around 600 kb/d in 2025, combined with projected oil demand growth led by Asian markets, reinforces the need for high-efficiency lifting solutions. As operators push to maximize well productivity and minimize downtime in both brownfield and greenfield projects, the adoption of ESPs is set to rise. This trend creates a strong market opportunity for ESP manufacturers and service providers.
Companies are ramping up local production capabilities to meet regional compliance and reduce supply chain dependencies. Sulzer’s establishment of new production lines in South Carolina reflects a clear trend toward aligning with local sourcing mandates, such as the Build America Buy America Act (BABA Act), 2021. This helps ensure faster delivery timelines and improve customer responsiveness in key North American markets.
Digital technologies continue to reshape the performance and efficiency landscape. Sulzer’s Energy Optimization Service leverages machine learning and expert diagnostics to reduce carbon footprints and enhance pump reliability in energy-intensive industries. The integration of digital tools signals a shift toward more intelligent, data-driven pump management systems.
Product innovation in compact and high-endurance pump design remains a priority. Sulzer's launch of lightweight models for mining and civil engineering, Xylem’s speed-adjusting freshwater systems, and Tsurumi’s abrasive-resistant offerings all point toward increasing demand for application-specific and durable systems. These launches confirm that the market for electrical submersible pumps is evolving rapidly to serve diverse, high-performance demands across industrial and infrastructure sectors.
The multistage segment holds a significant market share of around 78.3% in 2025, driven by its efficiency in deep-well applications and the increasing demand for enhanced oil recovery. As oil fields mature and extraction becomes more challenging, multistage ESP systems offer superior performance, ensuring high output in both offshore and onshore operations. The growing demand for energy across industries continues to push the adoption of this technology.
The global electric submersible pump market is primarily driven by the oil and gas industry, which holds around 45.3% of the market share. The rapid economic growth, particularly in emerging economies, continues to boost energy consumption, creating significant demand for ESPs in both oil extraction and enhanced oil recovery applications.
In Europe, despite the decline in fossil fuel production, countries such as Germany, Italy, and Spain still represent key markets for ESPs due to their advanced oil and gas infrastructure. Meanwhile, India’s increasing refining capacity and substantial investments in oil infrastructure further contribute to the global demand for ESPs, reflecting strong market growth across both developed and developing regions.
East Asia holds around 24.5% of the global electric submersible pump market share in 2025, driven by significant mineral production and industrial activities in the region.
China’s mineral production reached over 5 billion metric tons in 2022, increasing the demand for ESPs in mining and dewatering operations. Despite a decline in GDP from mining in Japan, the sector continues to rely on ESPs for resource extraction. As China transitions to a services-based economy and expands electric vehicle adoption, demand for petrochemicals remains strong, further driving the need for ESPs in industrial applications. The region's evolving industrial landscape supports steady demand for ESPs.
The Middle East & Africa (MEA) regions play a significant role in the global market, driven by its prominent oil and gas sectors. The Middle East accounts for over 40% of global oil exports, creating substantial demand for ESPs used in oil extraction from mature fields.
Africa, with its rich mineral resources holding 30% of the world’s mineral resources and 19% of global metal reserves, drives ESP demand particularly in mining and dewatering applications. With several million people worldwide depending on agriculture, the agricultural sector relies on ESPs for irrigation in water-scarce areas. The expanding construction activities in the Middle East further support the increasing adoption of ESPs across the region.
The global electric submersible pump market remains fragmented, with several key players competing through diverse product portfolios and regional strengths. Sulzer, Xylem Inc., Kirloskar Brothers Limited, Tsurumi Pump, Grundfos, and EBARA Corporation dominate the competitive space. These companies are actively engaged in product launches, technology upgrades, and regional expansions to address varying industrial needs such as mining, wastewater management, and agriculture.
Rather than consolidation, the market sees frequent new product introductions and localized production strategies, pointing to innovation-driven rivalry rather than dominance by any single player. Manufacturers continue to focus on specialized performance improvements such as energy efficiency, high-head capabilities, and abrasive resistance allowing them to serve specific industries or geographies more effectively. This strategic diversity sustains the fragmented nature of the ESP market.
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Attribute |
Details |
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Forecast Period |
2025 to 2032 |
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Historical Data Available for |
2019 to 2024 |
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Market Analysis |
USD Million for Value, Tons for Volume |
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Key Regions Covered |
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Key Companies Covered |
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Report Coverage
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Customization and Pricing |
Available on Report |
By Type
By Application
By Application
By Region
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The global market is projected to value at US$ 11,741.3 Million in 2025.
The market is poised to witness a CAGR of 6.3% from 2025 to 2032.
The market is driven by the rising demand for energy-efficient and application-specific pumping solutions, spurred by the need for optimized performance in oil extraction, mining, agriculture, and construction industries.
Key market opportunities arise from the rising oil supply and increased field activity, driving demand for advanced pumping solutions in oil extraction, offshore operations, and enhanced recovery techniques.
The top market players in the electric submersible pump market include Sulzer, Kirloskar Brothers Limited, KSB Company, GRUNDFOS, Xylem Inc., and Weatherford.
