- November 17, 2015
The market for ESPs can be segmented geographically into five regions, namely North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Electrical submersible pumps (ESPs) are multistage centrifugal pumps that are used in the oil industry to increase the production of oil from oil wells. ESP systems differ according to the well specifications and geographies. These are economically-designed pumps for oil and water wells that can handle fluid output ranging from 200 bpd to 60,000 bpd at depths of up to 15,000 feet. ESP is primarily composed of a driver unit and a pumping unit. A driver can either be an electric motor or a water turbine. The driver is installed in the upper part of the ESP that is to be cooled by the passing liquid. ESPs cannot handle higher gas volume fraction as the passing liquid serves as a cooling medium to the electric motor. ESPs can operate in only series installation arrangement as it can provide higher differential pressure to boost the liquid inside the well. The performance of ESP depends on the stage design, rotational speed, size, and fluid being pumped.
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An ESP system consists of various surface and sub-surface components that are designed according to well conditions. Surface components include transformers (primary and secondary), junction boxes, switchboards (variable frequency drives), and well head. Sub-surface components of ESP systems include power cable, cable guards, cable clamps, pump, gas separator, seal section, motor, drain valve, sensor, and check valve. The configuration of ESP system is different for both onshore and offshore oilfields, depending on the surface and sub-surface components. In onshore oilfields, the cost of surface equipment would be less as compared to that in offshore fields as the system is mounted with additional protective components in offshore fields. The installation of ESPs in onshore fields would be relatively low cost and easier due to less adverse conditions unlike in offshore fields. Onshore ESPs accounted for 76.16% share of the global ESPs market in 2013.
Europe was the largest consumer of ESPs, accounting for 59.77% of the overall market share in 2013. It is likely to remain the largest market for ESPs throughout the forecast period, primarily due to an increasing number of mature fields in Russia, Norway, Kazakhstan, and the U.K. Europe was also the largest market for both onshore and offshore ESPs with market share of 61.23% and 55.81%, respectively, in 2013.
North America ranks second in terms of market share, accounting for 20.28% of the overall market for ESPs globally in 2013. Rapidly increasing shale oil production in the U.S. and production from oil sand in Canada are the primary contributors to the market growth of ESP installations in North America. Asia Pacific ranks third in the global ESPs market. Asia Pacific is contains a large number of offshore wells in Australia, Malaysia, and the South China Sea. Increasing E&P activities in the South China Sea and prospective development of China’s shale reserves by 2017 are the major factors which make Asia Pacific one of the most attractive markets for ESP installations in the near future. The market in South & Central America is expected to grow faster in the near future due to large number of mature fields in Brazil and Venezuela.
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