Electric Submersible Pump Cable Market Size, Share and Global Trend By Insulation Type (Polypropylene, Ethylene Propylene Diene Monomer), By Cable Type (Flat Submersible Cable, Round Submersible Cable, Motor Lead Extension Submersible Cable), and Regional Forecast, 2024-2032

The evolution in human being’s life is only possible through the industrial revolution. Since the last couple of decades, the world has been introduced to the varied invention to ease mankind life. An electric submersible pump (ESP) is one such invention which helps to pump liquid from deep well to the surface, so it is essential that they operate safely and effectively for extended service life in the harshest environment. The cable is a key component to transmit power and sensors output to and from the surface in ESP installation.

It should be desirable that the cable should withstand mechanical abrasion, corrosion, high pressure, and temperature. Also, cables should be available in varied cross-sections and configuration for easy installation and retrieval of cable. In a number of applications, ESP cables are utilized such as irrigation, drinking water supply, mine dewatering, offshore drilling rigs, sewage treatment plants, swimming pools, and many others. In industrial application, an electric submersible pump is being used in which ESP cable is important element paving the way for augmentation of ESP cable market growth.

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Electric submersible pump (ESP) cable is classified on the basis of insulation type and cable type. Insulation is further divided into polypropylene (PP) and ethylene propylene diene monomer (EPDM). Temperature rating of polypropylene is around 96 °C and can be increased with the addition of an extruded protective layer of lead. While ethylene propylene diene monomer is most suitable downhole oil well services because of its excessive swell characteristics.

Operators intensively investing in deepwater oil and gas production in order to meet increasing hydrocarbon demand which is driving the ESP cable market. Apart from this the development in commercial, residential, and industrial sectors along with enormous demand for an electric submersible pump in agriculture, offshore activities, sewage water treatment, mine dewatering and other is anticipating the growth of the ESP cable market.

Sucker rod lift and gas lift are few alternative technologies available in oil & gas sector which holds a significant presence owing to its well-established technology offering flexibility to handle changing production volumes is restraining the growth of the ESP cable market.

Key Players Covered

The leading manufacturers of electric submersible pump cable are Prysmian Group, Schlumberger, CRI Cables, Havells, V-Guard, Hitachi Metals, Weatherford International, General Cable, Marmon Utility, Borets, and KEI Industries.

SEGMENTATION

Regional Analysis

The global electric submersible cable market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America has seen a rise in offshore activities for a decade and focuses on increasing offshore production. The USA and Canada are playing a major role in offshore oil and gas production in North America. Number of ESP are deployed for pumping of oil from deep well to surface. Electric submersible pumps are commonly used in agriculture, residential, marine and in extreme weather condition for dewatering purpose which anticipating the development of ESP cable market. European countries are expected to increase their offshore production to meet increasing energy demand which driving the ESP cable market. Asia Pacific is going to lead the ESP cable in the forthcoming year owing to high economic potential. Major economies like China, India, along with Japan, Singapore have enormous infrastructure potential along with a focus on increasing offshore production are driving the ESP cable market in the Asia Pacific. MEA is probably the leading in hydrocarbon production but in recent time they are focussing on offshore production in order to meet the increasing demand for hydrocarbon. Apart from this country are immensely investing in the drinking water project, sewage water treatment, and agriculture are expected to increase deployment of submersible pump is driving the growth of the ESP cables in MEA.

Key Industry Developments

• In April 2018, Prysmian pleased to announce the high tech solution for ESP application by introducing high tech cable solution at Offshore Technology Conference 2018.
• In March 2018, Southern Procurement Services (SPS) have been successfully completed first ESP system installation in two wells located in Urdaneta field of Latin America.