The global Electrical Submersible Pump (ESP) Cables market size is projected to reach USD 1.55 billion by 2029

Electrical Submersible Pump (ESP) Cables Definition

Electric submersible cables, commonly known as electrical submersible pump cables or ESP cables, are specially designed cables that provide power to submersible pumps used for artificial lift of oil and gas resources, offshore drilling rigs, irrigation, mine dewatering, drinking water supply, sewage treatment plants, industries, fountains, seawater filtration plants, swimming pools, and aquariums. In the oil & gas industry, electric submersible cables are especially designed to withstand high temperature and abrasive environment of the downhole well, wherein the electric submersible pump is installed. These cables provide power to electrical submersible pumps from the surface power source for pumping crude oil from the hydrocarbon reservoir to the well surface. The reliability of the undisrupted electrical power supply to an electrical submersible pump system in an oil well depends on the performance of the power feed through the equipment utilized for power transfers such as power cable, pig tail connectors, and motor lead cables. Electric submersible cables can be manufactured in either flat or round cross-section. The choice between the two is typically based on space between production tubing and well casing. Selection of high quality electric submersible cables is of utmost importance, as when electric submersible cables fail, maintenance costs rise and production revenue plummets.

 

Electrical Submersible Pump (ESP) Cables Picture

 

Electrical Submersible Pump (ESP) Cables Market Summary

According to the new market research report “Global Electrical Submersible Pump (ESP) Cables Market Report 2024-2029”, published by LP Information, the global Electrical Submersible Pump (ESP) Cables market size is projected to reach USD 1.55 billion by 2029, at a CAGR of 3.2% during the forecast period.

 

Global Electrical Submersible Pump (ESP) Cables MarketSize(US$ Million), 2018-2029

 

Above data is based on report from LP Information: Global Electrical Submersible Pump (ESP) Cables Market Report 2024-2029 (published in 2024). If you need the latest data, plaese contact LP Information.

 

Global Electrical Submersible Pump (ESP) Cables Top14Players Ranking and Market Share (Ranking is based on the revenue of 2022, continually updated)

 

Above data is based on report from LP Information: Global Electrical Submersible Pump (ESP) Cables Market Report 2024-2029 (published in 2024). If you need the latest data, plaese contact LP Information.

The global key manufacturers of Electrical Submersible Pump (ESP) Cables include Schlumberger, Huatong Wires and Cables, Baker Hughes, Levare (Borets), Wanda Cable, Prysmian Group, Halliburton (Summit ESP), ChampionX, Novomet, Marmon (Berkshire Hathaway), etc. In 2022, the global top five players had a share approximately 52.0% in terms of revenue.

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