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Global Electrical Submersible Pump Cables Market revenue stood at USD 3,001 million in 2014 and is expected to reach USD 4,479 million by 2023 at a CAGR of 4.7% from 2014 to 2023

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Deepening oil reserves to create strong demand for electrical submersible pump cables worldwide reports tmr

Transparency Market

Research

Electrical Submersible Pump Cables Market - Global

Industry Analysis, Size, Share, Growth Trends, and

Forecast 2014 - 2023

Published Date

13-Oct-2015

140 Page Report

Request Sample

Buy Now

Press Release

Deepening Oil Reserves to Create Strong Demand for Electrical

Submersible Pump Cables Worldwide, reports TMR

Transparency Market Research

State Tower,

90, State Street, Suite 700.

Albany, NY 12207

United States

www.transparencymarketresearch.com

[email protected]


Deepening oil reserves to create strong demand for electrical submersible pump cables worldwide reports tmr

Electrical Submersible Pump Cables

Market

REPORT DESCRIPTION

Electrical Submersible Pump Cables Market - Global Industry Analysis, Size, Share, Growth Trends,

and Forecast 2014 – 2023

The presence of a large pool of equally-placed participants, such as Schlumberger, Weatherford,

and Baker Hughes, determines the degree of competition in the global electrical submersible

pump (ESP) cables market, finds Transparency Market Research in a recent study.

At present, the market is fragmented and the degree of competition is likely to shift from medium

to high over the next few years. To withstand this rivalry, leading participants are increasingly

engaging in vertical integration; technological innovation and product differentiation although

remains the key determinants of their competence.

Going forward, mergers, acquisitions, and strategic alliances are likely to emerge as the most

preferred strategy among players looking to expand their reach and strengthen their presence

across the world.

Get Sample Of This Research Report At:

http://www.transparencymarketresearch.com/sample/sample.php?

flag=S&rep_id=7036

Depleting Oil Reserves Compel Producers to Dig Deep, Drive Demand for ESP Cables

Oil drilling and exploration companies are digging out oil wells in order to enhance oil production.

The rapid depletion as well as maturation of oil reserves has compelled these producers to drill

deep, increasing the depth of oil wells, which has resulted into deeper pump setting, driving the

demand for ESP cables required to supply the electricity from the transformer to pump motor.

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Transparency Market Research


Deepening oil reserves to create strong demand for electrical submersible pump cables worldwide reports tmr

Electrical Submersible Pump Cables

Market

Apart from this, the growing demand for ESP is also an important factor, driving the growth of

this market, as it is directly proportional to the demand for ESP cables.

Decline in Oil Price to Limit Deployment of ESP Cables

“Although several factors point towards a thriving future for ESP cables, the recent decline in oil

prices may limit their application due to a rapid decrease in offshore exploration and production

expenditure over the years to come,” says an analyst at TMR. The limited employability of these

cables in shale gas fields is also expected to hamper the market’s growth in the long run.

ESP cable manufacturers, however, are projected to gain rewarding opportunities in the

forthcoming years due to the increasing number of oil sands projects set to commence very soon

across the world.

Demand for ESP Cables to Remain High in Europe

Europe has been leading the global market for ESP cables since its inception. In 2014, the region

generated a revenue of US$1.9 bn, accounting for a share of nearly 60% in the global market.

Analysts expect it to remain dominant over the forthcoming years. However, the Middle East and

Africa is expected to present the most promising opportunities for these cables in the near

future, registering the fastest CAGR of 8.70% between 2015 and 2023.

In 2014, the onshore segment emerged as the key site for the application of ESP cables and is

projected to remain leading in the years to come. Based on technology, EPDM (synthetic rubber)

cables will continue to witness the strongest demand over the next few years.

Browse The Full Research Report At:

http://www.transparencymarketresearch.com/electrical-submersible-pump-cables-

market.html

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Transparency Market Research


Deepening oil reserves to create strong demand for electrical submersible pump cables worldwide reports tmr

Electrical Submersible Pump Cables

Market

On the whole, the worldwide ESP cables market is likely to present an opportunity worth US$4.5

bn by 2023, increasing from US$3.0 bn in 2014 at a CAGR of 4.70% between 2015 and 2023.

During the same period, the production volume of ESP cables is likely to expand at a CAGR of

4.40%, globally.

The analysis presented here is based on a report by Transparency Market Research (TMR) titled

“Electrical Submersible Pump Cables Market - Global Industry Analysis, Size, Share,

Growth Trends, and Forecast 2014 - 2023.”

Key Takeaways

The worldwide ESP cables market is likely to present an opportunity worth US$4.5 bn by

2023

Europe led the global market with a share of nearly 60% in 2014

The Middle East and Africa will register the fastest CAGR of 8.70% between 2015 and 2023

Key Segments of the Electrical Submersible Pump Cables Market

By Application

Onshore

Offshore

By Types

EPDM (Ethylene propylene diene monomer)

Polypropylene

Others

Browse All Energy & Mining Market Research Reports:

http://www.transparencymarketresearch.com/energy-market-reports-3.html

About Us

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Transparency Market Research


Deepening oil reserves to create strong demand for electrical submersible pump cables worldwide reports tmr

Electrical Submersible Pump Cables

Market

Transparency Market Research is a market intelligence company providing global business information

reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-

looking insight for thousands of decision makers.

We are privileged with highly experienced team of Analysts, Researchers and Consultants, who use

proprietary data sources and various tools and techniques to gather, and analyze information. Our

business offerings represent the latest and the most reliable information indispensable for businesses to

sustain a competitive edge.

Contact

Transparency Market Research

90 State Street, Suite 700

Albany, NY 12207

Tel: +1-518-618-1030

USA - Canada Toll Free: 866-552-3453

Email: [email protected]

Website: http://www.transparencymarketresearch.com/

Visit Blog : http://depthresearchreport.blogspot.in/

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Transparency Market Research


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