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Pulished Date April, 2021
ID: 10631
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Global Electric Submersible Cables Market Segmentation By Cable Type (ESP Flat Power Cable and ESP Round Power Cable), By Insulation (Propylene, Ethylene Propylene Diene Monomer), By End User Industry (Oil and Gas, Agriculture, Mining and Construction), and Region - Industry Forecast of 2021 to 2026

Pulished: April, 2021
ID: 10631
Pages: 175

Electric Submersible Cables Market Value and Growth Analysis (2021-2026)

The Global Electric Submersible Cables market is estimated to develop with a notable CAGR in future. The demand for submersible electrical cables is almost directly proportional to the call for them in various industries. The demand for electric submersible pumps for irrigation is also escalating due to the increase in agricultural activities and the decrease in water sources. The call for electric submersible pumps in the water and wastewater industry is also increasing at a rapid rate. The shift towards artificial lift systems for crude oil production in the oil and gas industry is also predicted to stimulate call for electric submersible pumps.

The electric submersible cable is specially designed to withstand harsh conditions depending on your applications. The submersible electrical cable is produced in various configurations for different environmental conditions. In addition, it is designed for wet ground or underwater applications. A submersible pump cable prevents cavitation of the pump between the pump and the fluid surface. Submersible electrical cables, commonly referred to as submersible electrical pump cables or ESP cables, are specially designed cables that power submersible pumps that are employed for artificial lifting of oil and gas resources. These cables power the submersible electric pumps from the surface power source to pump crude oil from the hydrocarbon reservoir to the surface of the well. Selecting high-quality submersible power cables is of the utmost importance, because when submersible power cables fail, maintenance costs increase and production revenues decrease.

Electric Submersible Cables Market Trends:

The gas lift method became more prevalent for the shale gas lift mechanism with the advent of the shale gas boom, especially in the United States. However, almost 80% of oil wells in the United States are onshore extraction wells. Most of these onshore wells use sucker rod pumps for production. Of the land wells without extraction, 27% use sucker rod pumps, while 52% use gas lifts. The remaining 21% use electric submersible pumps and other methods. This indicates the dominance of the sucker rod pump and gas lift mechanism as artificial lift technology in the US hydrocarbon industry, especially the shale gas industry.

Recent Developments in the Electric Submersible Cables Industry:

  • Oil giant Saudi Aramco and oil service provider Baker Hughes showcased what the companies see as the first submersible electric pumping system (ESP) implemented free of charge by TransCoil.
  • Italian cable, power transmission and telecommunications company Prysmian Group is relaunching after partnering with Kentucky-based General Cable. According to the company, the integration with General Cable further expands the range of technologies and products offered by the Prysmian Group.

Electric Submersible Cables Market Drivers

The escalating call for submersible power cables in mining, offshore drilling rigs, irrigation systems, drilling works and wastewater treatment plants is a key factor that is predicted to drive the expansion of the worldwide submersible power cable market during the foreseen period. Escalating deployment of electric submersible pumps in the oil and gas industries, due to its various properties such as, prevents cavitation of the pump, the lead jacket prevents damage caused by hydrogen sulfide and more concentrated hydrogen chloride , heat resistance ability, high reliability and high flexibility is another factor that is predicted to drive the expansion of the worldwide submersible power cable market in the near future. Additionally, the growing preference for tightly confined industrial power cable unit designs in various industries is another factor supporting the growth of the worldwide submersible power cable market, as cables are equipped with waterproof gaskets. With the end of the era of easy oil, the new oil and gas fields are at a much greater depth. The maturing of oil wells and the depletion of oil reserves are pushing exploration and production companies to drill deeper. This has led to an increase in the total depth of an oil well to extract these resources. In turn, this has resulted in deeper adjustments to the submersible electric pump, thus escalating the call for submersible electrical cables that are employed to deliver power from the power source to the pump motor.

Restraints:

However, the high cost associated with maintaining submersible power cables is a major factor that is predicted to slow the expansion of the global market.

Opportunities in the Electric Submersible Cables Market Industry:

Furthermore, escalated product improvement and the development of various raw materials for cable manufacturing are predicted to drive worldwide market expansion. Day by day, the rising use of advanced technologies for agricultural purposes and dwindling water sources have boosted the market for electric submersible pumps employed for irrigation purposes, which has had a proportionally positive impact on the global electric submersible cables. The use of electric submersible pumps in wastewater management has escalated in various public private industries, which is driving the worldwide market for submersible electric cables.

Challenges:

The limited deployment capacity of electric submersible pumps for shale gas production is predicted to hamper the market in the near future.

Electric Submersible Cables Market Segmentation:

By cable type:

  • ESP Flat Power Cable
  • ESP Round Power Cable

On the basis of the type of cable, the flat power cable segment is predicted to dominate the target market, due to various characteristics such as less space occupation, reduced weight and high flexibility.

By insulation:

  • Propylene
  • Ethylene Propylene Diene Monomer

On the basis of insulation, the polypropylene segment is predicted to dominate the worldwide market, due to the high usage and awareness of the lightweight property of polypropylene.

By end-user industry:

  • Oil and Gas
  • Agriculture
  • Mining
  • Construction

On an end-user basis, the oil and gas segment is predicted to dominate the global submersible power cable market, due to the high adoption for various applications.

Electric Submersible Cables Regional Analysis:

  • North America Electric Submersible CablesIndustry includes U.S, Canada.
  • Europe Electric Submersible CablesIndustry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.
  • Asia PacificElectric Submersible CablesIndustry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.
  • Latin America Electric Submersible CablesIndustry includes Brazil, Mexico, Argentina, Chile & Rest of LATAM.
  • Middle East & Africa Electric Submersible CablesIndustry includes KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA.

The Asia-Pacific is predicted to dominate the worldwide market, due to the escalating development of infrastructure and technological improvements to achieve high energy efficiency in emerging countries such as China, India and Japan in the area. The European market is foreseen to register significant expansion in the worldwide market in terms of revenue, due to the escalating use of submersible electrical cables for various applications such as submersible mining pumps, control circuits, motors and machinery and portable construction equipment in the countries of the region. The North American market is predicted to experience lucrative expansion in the worldwide market in terms of revenue, due to the growing call for highly flexible and crush resistant submersible power cables in various industrial sectors in countries in the region.

Electric Submersible Cables Market Key Players:

Key players operating in the global electric submersible cables market are Baker Hughes, Schlumberger Limited, Prysmian Group, Nexans, Siemens AG, Borets, Halliburton, The Kerite Company, Havells, Jainson Cables, V-Guard Industries Ltd., Superstar Cables, Southwire Company, LLC, and Alkhoorayef Petroleum.

 

 

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                          

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling      

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                         

                                4.1.1 Drivers      

                                4.1.2 Restaints  

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis        

                                5.1.2 Products/Service  

                                5.1.3 Regional Presence               

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Electric Submersible Cables Market, By Cable Type                  

                                6.1.1 ESP Flat Power Cable          

                                6.1.2 ESP Round Power Cable    

                                6.1.3 Market Size Estimations & Forecasts (2019-2024)   

                                6.1.4 Y-o-Y Growth Rate Analysis             

                                6.1.5 Market Attractiveness Index          

                6.2 Electric Submersible Cables Market, By Insulation                     

                                6.2.1 Propylene               

                                6.2.2 Ethylene Propylene Diene Monomer          

                                6.2.3 Market Size Estimations & Forecasts (2019-2024)   

                                6.2.4 Y-o-Y Growth Rate Analysis             

                                6.2.5 Market Attractiveness Index          

                6.3 Electric Submersible Cables Market, By End-User Industry                    

                                6.3.1 Oil and Gas              

                                6.3.2 Agriculture              

                                6.3.3 Mining      

                                6.3.4 Construction          

                                6.3.5 Market Size Estimations & Forecasts (2019-2024)   

                                6.3.6 Y-o-Y Growth Rate Analysis             

                                6.3.7 Market Attractiveness Index          

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                  

                7.2 North America - Market Analysis (2018 - 2024)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Cable Type        

                                7.2.3 By Insulation          

                                7.2.4 By End-User Industry         

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Cable Type        

                                7.3.3 By Insulation          

                                7.3.4 By End-User Industry         

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Cable Type        

                                7.4.3 By Insulation          

                                7.4.4 By End-User Industry         

                7.5 Latin America                             

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Cable Type        

                                7.5.3 By Insulation          

                                7.5.4 By End-User Industry         

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Cable Type        

                                7.6.3 By Insulation          

                                7.6.4 By End-User Industry         

8. Key Player Analysis                                    

                8.1 Baker Hughes                            

                                8.1.1 Business Description           

                                8.1.2 Products/Service  

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis       

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Schlumberger Limited                            

                8.3 Prysmian Group                       

                8.4 Nexans                         

                8.5 Siemens AG                               

                8.6 Borets                           

                8.7 Halliburton                  

                8.8 The Kerite Company                               

                8.9 Havells                          

                8.10 V-Guard Industries Ltd                        

9. Market Outlook & Investment Opportunities                                

Appendix                                           

                List of Tables                     

                List of Figures                   

  • Global,Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • Segment-level analysis in terms of by type,by end use,along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  1. Global Electric Submersible Cables Market By Region, From 2021-2026 ( USD Billion )

  2. Global Electric Submersible Cables Market By Cable Type, From 2021-2026 ( USD Billion )

  3. Global ESP Flat Power Cable Market By Region, From 2021-2026 ( USD Billion )

  4. Global ESP Round Power Cable Market By Region, From 2021-2026 ( USD Billion )

  5. Global Electric Submersible Cables Market By Insulation, From 2021-2026 ( USD Billion )

  6. Global Propylene Market By Region, From 2021-2026 ( USD Billion )

  7. Global Ethylene Propylene Diene Monomer Market By Region, From 2021-2026 ( USD Billion )

  8. Global Electric Submersible Cables Market By End-Use Industry, From 2021-2026 ( USD Billion )

  9. Global Oil and Gas Market By Region, From 2021-2026 ( USD Billion )

  10. Global Agriculture Market By Region, From 2021-2026 ( USD Billion )

  11. Global Mining Market By Region, From 2021-2026 ( USD Billion )

  12. Global Construction Market By Region, From 2021-2026 ( USD Billion )

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