COVID-19 Impact and Recovery Analysis- Electric Submersible Pump Market 2020–2024 | Surging Demand in Agricultural Industry to Boost Growth | Technavio
Technavio has been monitoring the electric submersible pump market and it is poised to grow by USD 1.36 billion during 2020–2024, progressing at a CAGR of almost 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Request for Technavio’s latest reports on directly and indirectly impacted markets. Market estimates include pre- and post-COVID-19 impact on the Electric Submersible Pump Market Download free sample report
The market is concentrated, and the degree of concentration will accelerate during the forecast period. Baker Hughes, a GE Co. LLC, DOS CANADA INC., EBARA Corp., Flowserve Corp., Grundfos Holding AS, Halliburton Co., KSB SE & Co. KGaA, Schlumberger Ltd., SPX FLOW Inc., and Sulzer Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Surging demand in the agricultural industry has been instrumental in driving the growth of the market.
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. https://www.technavio.com/report/report/electric-submersible-pump-market-industry-analysis
Electric Submersible Pump Market 2020–2024: Segmentation
Electric Submersible Pump Market is segmented as below:
- Application
- Geographic Landscape
- Offshore
- Onshore
- APAC
- Europe
- MEA
- North America
- South America
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40042
Electric Submersible Pump Market 2020–2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The electric submersible pump market report covers the following areas:
- Electric Submersible Pump Market Size
- Electric Submersible Pump Market Trends
- Electric Submersible Pump Market Analysis
This study identifies the increasing use of rig-less ESPs as one of the prime reasons driving the electric submersible pump market growth during the next few years.
