The global electric submersible pumps market is projected for robust growth, reaching USD 9.1 billion in 2025. Expanding at a notable CAGR of 3.6%, the sector will reach USD 13.0 billion by 2035, driven by the surging demand for oil & gas, water management, and industrial uses.
The electric submersible pumps market (ESP) progressed significantly in 2024, influenced by the growing energy requirements and technological advancements. Rising optimization of pumps, automation, and efficient materials witnessed a surge in industries, majorly in oil and gas exploration and water treatment. Businesses prioritized smart tracking solutions to control or limit maintenance expenses and enhance performance, accelerating and defining the sector’s growth channels.
In 2025, growth will be fueled by increasing offshore drilling activities and municipal applications' demand for efficient dewatering solutions. Technological advancements in high-performance pumps with improved corrosion resistance and energy efficiency will lead to adoption. Manufacturers will also focus on sustainable production methods, in line with global energy transition objectives.
| Metric | Value |
|---|---|
| Industry Value (2025E) | USD 9.1 billion |
| Industry Value (2035F) | USD 13.0 billion |
| CAGR (2025 to 2035) | 3.6% |
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| 2020 to 2024 | 2025 to 2035 |
|---|---|
| Oil & Gas Dominance: ESP remained a crucial aspect in oil and gas production, especially for optimized recovery of oil and deepwater operations. | Offshore & Unconventional Exploration Growth: Rising offshore drilling and unconventional oil production will shape the industry landscape, fostering the demand for efficient ESPs. |
| Technology Developments: Digitalization, remote tracking, and automation became integral, optimizing the efficiency of operations and lowering the risks of failures. | AI & IoT Integration: AI-supported predictive maintenance and IoT-backed ESPs will offer real-time tracking, limiting expensed and time-consumption. |
| Supply Chain Issues: Global disruptions, availability of raw materials, and volatility of commodity prices impacted production and delivery schedules. | Resilient Supply Networks: Enhanced local production, diversified procurement strategies, and automation will reduce supply chain vulnerabilities. |
| Urbanization & Water Management: Growing requirement for ESPs in municipal water supply, treatment, and dewatering of industries as urban growth continues at breakneck speed. | Sustainable Water Solutions: More emphasis on water conservation, intelligent wastewater treatment, and energy-efficient pumps to aid in global sustainability objectives. |
The ESP industry is a part of industrial equipment and energy infrastructure sector, offering strategic applications various sectors including oil & gas, water management, and industrial dewatering. The ESP industry exists at the nexus of energy infrastructure and therefore is heavily exposed or influenced by world economic trends, energy consumption, and investments on infrastructure.
Industrialization and urbanization, impacted by economic growth particularly in emerging economies, are increasing demand for efficient water extraction and oil recovery technology. Offshore drilling and non-conventional production continue to drive demand for the oil and gas industry. However, sector volatility caused by uncertainty in crude oil prices necessitates shrewd investment in premium, cost-effective pumping technology.
The onshore portion will continue to dominate the industry of the electric submersible pumps sector expanding at a CAGR of 3,4% over the forecast period. Rising oilfield activity, expanding industrial infrastructure, and rising demand for effective fluid management will spur adoption. Novel enhanced oil recovery methods and redevelopment of old fields will continue to accelerate ESP installation.
Producers will focus on automation, remote monitoring, and energy-efficient configurations to improve efficiency and lower operating expenses. The incorporation of predictive maintenance technologies will improve reliability and provide for seamless operations.
The offshore division will see consistent growth, driven by ultra-deepwater and deepwater exploration. With conventional reserves dwindling, energy firms will increase offshore drilling, generating demand for high-performance ESPs that can handle harsh subsea conditions. Corrosion-resistant materials, AI-based monitoring systems, and sophisticated pumping solutions will improve efficiency and lifespan.
The United States will be an integral industry for electric submersible pumps, fueled by shale oil drilling and deepwater activity advances. Mergers toward automation and AI-based monitoring will maximize operational productivity, lowering downtime and maintenance. Growing emphasis on energy-saving options will coincide with federal sustainability policy, pushing industries to implement next-generation ESPs.
Upgrades to infrastructure, especially in old municipal water systems, will demand high-performance ESPs to enhance efficiency and reliability. As investments in offshore exploration and industrial automation increase, manufacturers will emphasize corrosion-resistant, smart-enabled pumps.
FMI analysis found that the USA ESP industry will expand at a CAGR of 3.8% from 2025 to 2035.
India's electric submersible pumps industry will witness high growth with growing infrastructure, industrialization, and water management projects. The drive by the government to implement smart cities as well as better sanitation will fuel demand for ESPs in municipal applications. Irrigation for agriculture will remain a key driver, with farmers implementing energy-efficient pumps to make the most out of water usage.
Expansion of industries in manufacturing and construction will further increase ESP use in industrial dewatering and wastewater treatment. Technological developments, such as IoT-based remote monitoring, will enhance efficiency while lowering maintenance expenditure.
FMI opines that India’s ESP industry will grow at a CAGR of 4.2% from 2025 to 2035, driven by strong infrastructure development, increasing energy needs, and evolving environmental policies.
China will continue to be an industry leader in the electric submersible pumps market, driven by extensive investments in industrial automation, deepwater oil and gas exploration, and urban water management. The rapid urbanization of China will spur megaprojects for municipal wastewater treatment on a large scale, requiring sophisticated ESP solutions.
Technological innovations, such as AI-based predictive maintenance and real-time monitoring, will improve pump efficiency and reliability. China's industrial sector will focus on energy-efficient ESPs to meet stringent environmental regulations to cut emissions and water waste.
FMI analysis found that China’s ESP industry will grow at a CAGR of 3.9% from 2025 to 2035, supported by infrastructure expansion, rising energy demands, and continuous advancements in smart pumping technologies.
The United Kingdom's electric submersible pumps industry will experience steady growth on the back of offshore oil and gas investments in the North Sea. With growing efforts to extend the life of aging oil fields by oil companies, the demand for high-performance ESPs will increase. The emphasis on sustainable water management in the country will drive adoption in municipal wastewater treatment facilities.
Smart monitoring and automation will be the leading factor in enhancing efficiency and lowering operation expenses. The growth of offshore wind farms will also generate demand for customized ESP solutions in subsea applications.
FMI opines that the UK’s ESP industry will grow at a CAGR of 3.5% from 2025 to 2035.
Germany's ESP industry will grow at a rapid pace, spurred by the nation's fstrong support for sustainability and industrial automation. The need for energy-saving ESPs will be on the rise as industries are compelled to meet stringent environmental controls. Wastewater recycling projects will grow larger, promoting the application of modern ESPs for municipal and industrial uses.
The growth of Industry 4.0 will expedite the use of AI and IoT in pump monitoring to enhance efficiency and predictive maintenance. The manufacturing industry will emphasize environmentally friendly materials and low-energy usage designs to minimize carbon footprints. FMI analysis found that Germany’s ESP industry will grow at a CAGR of 3.4% from 2025 to 2035, supported by digital transformation.
South Korea's electric submersible pumps industry will grow consistently, bolstered by accelerating industrialization and offshore energy development. The nation's semiconductor and advanced electronic industries will necessitate high-precision water management systems. Offshore oil and gas operators will invest in ESPs to optimize production efficiency for deepwater reserves.
The growth of smart factories will also drive demand for technologically advanced pumping solutions. The high research and innovation focus of South Korea will drive the development of new corrosion-resistant and energy-saving ESP designs. FMI opines that the country’s ESP industry will achieve a CAGR of 3.7% from 2025 to 2035, driven by offshore exploration, industrial expansion, and investments in smart water management technologies.
Japan's electric submersible pumps industry will be influenced by growing investments in intelligent infrastructure and water management technology. The nation's emphasis on city redevelopment and green urban planning will propel demand for sophisticated ESPs in municipal sewage treatment projects.
Desalination and water recycling plans will grow, demanding high-performance ESPs to enable national water conservation efforts. Research and development of energy-efficient industrial equipment will support Japan's long-term carbon neutrality strategy. Corrosion-resistant material innovations and smart pumping technologies will drive the industry forward.
FMI analysis found that Japan’s ESP industry will expand at a CAGR of 3.5% from 2025 to 2035, driven by infrastructure modernization and technological advancements.
France's electric submersible pumps industry will expand steadily, backed by sustainability-focused policies and technological progress in industrial automation. The nation's strong focus on minimizing energy consumption will result in growing use of high-efficiency ESPs in all industries.
Wastewater treatment plants will adopt smart monitoring systems to improve efficiency and optimize water recycling processes. Offshore energy projects such as deepwater exploration and offshore wind farms will drive demand for specialized ESPs. The demand for green and energy-efficient technologies will drive manufacturing trends.
FMI opines that France’s ESP industry will grow at a CAGR of 3.6% from 2025 to 2035, driven by digital transformation in fluid management, industrial energy efficiency initiatives, and infrastructure modernization efforts.
Italy's electric submersible pumps industry will experience steady growth as a result of growing investments in wastewater treatment and industrial automation. The nation's initiative to upgrade old infrastructure will generate demand for sophisticated ESPs in municipal and commercial use.
The desalination sector will grow, necessitating dependable ESPs to serve large-scale water treatment plants. Energy-efficient technologies will become popular as companies aim to reduce operating expenses and meet environmental standards. Producers will focus on using corrosion-resistant materials and intelligent monitoring technologies to maximize pump performance.
FMI analysis found that Italy’s ESP industry will grow at a CAGR of 3.4% from 2025 to 2035, supported by sustainability efforts, industrial upgrades, and advancements in smart pumping technology.
The Australian and New Zealand electric submersible pumps industry will grow steadily, fueled by mining, agriculture, and water conservation efforts. Australia's mining industry will continue to need high-performance dewatering pumps to facilitate large-scale extraction activities. New Zealand's emphasis on sustainable irrigation and water recycling will increase demand for efficient ESPs. The region's growing investments in desalination plants will also further propel ESP use in water management projects.
FMI opines that the ESP industry in Australia and New Zealand will expand at a CAGR of 3.7% from 2025 to 2035, supported by infrastructure development, resource conservation efforts, and advancements in fluid management technology.
Priorities of Key Stakeholders
Regional Variation:
Technological Advancements & Adoption
High Variance:
Different Views on Return on Investment (ROI):
Material & Design Improvements
Consensus:
Stainless steel and corrosion-resistant alloys were the top materials, with 64% giving importance to durability over cost.
Regional Variance:
Industry-Specific Challenges
Manufacturers:
End-Users
Priorities for Future Investment
Alignment:
Divergence:
Impact of Regulatory & Policy
Conclusion: Consensus vs. Variance
High Consensus: Energy efficiency, reliability, and cost savings remained the core issues.
Key Variances:
| Countries | Regulatory Impact & Mandatory Certifications |
|---|---|
| United States | The Department of Energy (DOE) regulates minimum efficiency requirements for industrial pumps, including ESPs. The Environmental Protection Agency (EPA) requires wastewater pumps to meet the Clean Water Act. API 11S certification is required for ESPs in oil & gas. ASME standards govern industrial pump safety. |
| India | The Bureau of Energy Efficiency (BEE) regulates the energy efficiency labelling of ESPs. Oil & Natural Gas Corporation (ONGC) demands ESPs used in oilfields to fulfil high standards of operational safety and environmental compliance. ESPs deployed for water management and industrial use need BIS certification. |
| China | The National Energy Administration (NEA) encourages high-efficiency ESP uptake via energy conservation measures. ESPs are required to conform to GB/T 32156 standards for performance and environmental standards. Tighter pollution control regulations affect ESP producers, mandating compliance with green production requirements. |
| United Kingdom | The UK Environment Agency promotes the use of energy-efficient ESP in water and wastewater treatment facilities. ESPs should be certified under UKCA and CE certification schemes. The UK regulatory shift following Brexit centers on green ESP adoption in industry in the Net Zero Strategy. |
| Germany | EU Eco-design Directive requires high-efficiency ESPs for industrial and municipal applications. ESPs used in water management have to meet DIN EN 733 standards. The government mandates stringent ESG reporting requirements, compelling companies to adopt green pump solutions. |
| South Korea | The Ministry of Environment enforces compliance with the Water Management Act, with ESPs used in wastewater treatment having to be highly efficient. KS B6320 certification is required for ESPs used in municipal and industrial water networks. Adoption of smart pumping technology is promoted under national energy efficiency objectives. |
| Japan | The Ministry of Economy, Trade, and Industry (METI) enforces JIS B8313 standards for ESP efficiency in industrial applications. Japan Oil, Gas & Metals National Corporation (JOGMEC) mandates specific safety and operational requirements for offshore ESPs. The government incentivizes smart pump technology to reduce operational costs. |
| France | The EU Eco-design standards are implemented by the government of France, and therefore ESPs need CE certification. Municipal infrastructure ESPs need to follow NF certification requirements for safety and efficiency. Low-carbon pump solutions are motivated by the Energy Transition Law in companies. |
| Italy | ESPs on public water networks have to abide by UNI EN standards. The Italian authorities impose energy transition policies that stimulate the adoption of variable-speed drive ESPs in order to maximize energy savings. CE certification continues to be compulsory for industry entry. |
| Australia-New Zealand | The Water Efficiency Labelling and Standards (WELS) program governs ESP efficiency for municipal and industrial use. Mining applications of ESPs are required to meet AS/NZS 5100 safety standards. ESP deployment in renewable energy and water conservation initiatives is encouraged with government incentives. |
The electric submersible pumps (ESP) industry is expanding rapidly and notably, fuelled by technological innovation, sustainability requirements, and growing use in various industries. Oil and gas operators need to utilize intelligent ESPs with AI-based predictive maintenance to reduce downtime and enhance well productivity, especially in offshore exploration.
Urban water utilities are increasingly being pressured to maximize wastewater management efficiency in the face of accelerated urbanization. Transitioning to variable-speed drive (VSD) ESPs can optimize energy consumption and meet rigorous regulatory requirements.
Partnerships with technology companies to incorporate IoT-based monitoring systems will guarantee predictive maintenance, minimizing unplanned downtime and operational expenses. In the same way, mining and industrial processes have to prioritize high-efficiency, solids-handling ESPs capable of performing in harsh environments, investing in real-time monitoring and automation for enhancing safety and efficiency.
Pump makers and suppliers need to concentrate on creating energy-efficient ESPs using sustainable materials, complying with increasingly stringent global efficiency standards. By taking these strategic actions, stakeholders can attain long-term industry leadership and take advantage of new opportunities.
The electric submersible pumps (ESP) industry is fairly fragmented with many regional and global players competing to improve their positions in the industry. Renowned ESP industry leaders are employing various strategies to ensure competitiveness.
High importance is given to research and development in order to develop new innovative products with higher efficiency and reliability. Price-based competitive strategies are implemented to tap into a larger customer base, and strategic collaborations and alliances are established to widen technological capability and reach the industry.
Honeywell International made the acquisition of Sundyne, a leading pump and compressor company, worth USD 2.2 billion recently. This strategic acquisition is meant to strengthen Honeywell's portfolio of industrial equipment, specifically in the petrochemical, as well as the oil and gas industries, to increase its market share and offerings.
In February 2024, DXP Enterprises, Inc. reported the purchase of Hartwell Environmental Corporation. This acquisition will help boost the product offerings of DXP as well as boost its presence within the environmental and water treatment businesses as the need for effective water management solutions rises.
Schlumberger Limited: ~20-25%
A leading oilfield service company, providing advanced ESP systems for oil and gas production.
Baker Hughes (a GE Company): ~18-22%
Renowned for its cutting-edge ESP technologies and significant presence in the oil and gas industry.
Halliburton Company: ~15-18%
A top ESP system provider, especially for deepwater and unconventional reservoir applications.
Weatherford International: ~10-12%
Offers an extensive portfolio of ESP solutions, with emphasis on cost-effective and efficient pumping systems.
Borets International: ~8-10%
Specializes in ESP systems, especially in Russia, the Middle East, and other developing sectors.
Novomet (owned by Weatherford): ~6-8%
Recognized for its high-performance ESP systems and creative solutions for difficult conditions.
General Electric (GE): ~5-7%
Provides ESP systems as one component of its larger portfolio of oil and gas equipment and services.
Companies are incorporating AI-based diagnostics, IoT-based remote monitoring, and sophisticated variable frequency drives to boost performance, lower operation costs, and increase energy efficiency.
The use of corrosion-resistant alloys, magnetic-driven motors, and self-regulating pressure mechanisms is significantly enhancing durability, particularly in tough operating conditions such as deepwater drilling.
Tighter energy efficiency requirements and emission control regulations are forcing manufacturers to create pumps with reduced power consumption, more efficient hydraulic designs, and global compliance with sustainability guidelines.
Autonomous control systems, real-time fault detection, and predictive analytics driven by artificial intelligence are lowering maintenance costs and allowing smooth operation in intricate industrial and offshore applications.
Growing water shortages are fueling rapid uptake in wastewater management, with deep-sea oil recovery and geothermal energy projects leading the demand for high-performance ESP systems.
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