Presently, Europe is driving the ESP cable market and is anticipated to remain dominant amid the estimate time frame. Russia is the main market and is foreseen to witness critical development amid the conjecture time frame. The development of the Europe electrical submersible pumps cable market can be ascribed to the developing oilfields in the U.K. and Russia. Further, expanding oil and gas investigation in Mexico and Canada will enlarge the development of ESP cable market in North America amid the figure time frame.
The Electric Submersible Cables Market was worth USD 2.93 billion in 2014 and is expected to reach approximately USD 4.31 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 4.37% during the forecast period.
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The leading players in the market are Borets Co LLC, Halliburton, Hitachi Metals Ltd, General Cable, Schlumberger, Kerite Company, Weatherford International, GE Oil and Gas and Prysmian Group. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
Industry Outlook and Trend Analysis
Electrical submersible pump (ESP) cables are exceptionally created to supply power from the transformer to pump motor in deepened oil and water wells, even in high temperature and thorough ecological conditions. The expanding profundities of downhole gas and oil wells and the rapid exhaustion and also development of oil fields have come about into more profound pump settings, driving the interest for ESP cables. Nonetheless, the decrease in oil costs is probably going to confine the interest for such cables in the coming a long time because of the lessening expenditure on offshore investigation and creation of oil and gas.
Research Report Description with Detailed TOC of Electric Submersible Cables Market @:
Market Segmentation- Electric Submersible Cables Market
Electric Submersible Cables Market, By ESP Cable Type, Estimates and Forecast, 2014-2023($Billion)
ESP Flat Power Cable
ESP Round Power Cable
Electric Submersible Cables Market, By Insulation, Estimates and Forecast, 2014-2023($Billion)
Ethylene Propylene Diene Monomer (EPDM)
Electric Submersible Cables Market, By End User, Estimates and Forecast, 2014-2023($Billion)
Oil & Gas
Other End Users
Electric Submersible Cables Market, By Region, Estimates and Forecast, 2014-2023($Billion)
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
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Drivers and Restraints
The worldwide electrical submersible pump (ESP) cable market is anticipated to develop at a dynamic rate amid the gauge time frame. ESP is the quickest developing technology in oil and gas industry. The developing oil wells and exhausting oil reserves over the globe is one of the variables driving the development of ESP cable market. Furthermore, the ESP technology can adjust to work in an extensive variety of well conditions, in this way energizing the demand of ESP cable market. In addition, the developing and exhausting oil and gas reserves require the expansion in exercises to tap new oil and gas reserves. This will increase the demand of ESP control link market in years to come.
Major Table of Contents:
Chapter 1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research
Chapter 2. Executive Summary
2.1. Key Highlights
Chapter 3. Market Overview
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
….CONTINUED FOR TOC
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