Global ESP Systems Market is Projected to Grow at a CAGR of 5.7%

Date: 2015-08-13

“The global ESP systems market is projected to grow at a CAGR of 5.7% from 2014 to 2019. Although Asia-Pacific holds the largest share of the global market, the African market for ESP systems is expected to grow at the highest CAGR during the forecast period. The rising industrial development and regulations to control industrial emissions are the driving factors for this regional market.

On the global level, the market is driven by the growth in coal- and gas-fired power plants and stringent government regulations. However, emergence of alternate and renewable energy sources may restrain the growth of this market.

This report analyzes the ESP system market by type, application, and geography. The ESP system types included in this report are dry ESP and wet ESP. In terms of geography, the market has been segmented into Asia-Pacific, Europe, Americas, Middle East, and Africa. In order to provide a deeper understanding of the competitive landscape, the report also profiles companies present in the global ESP systems market.

In 2014, the global ESP systems market was dominated by The Babcock & Wilcox Company (U.S.), Mitsubishi Hitachi Power Systems, Ltd. (Japan), Thermax Ltd. (India), Ducon Technologies Inc. (U.S.), Fujian Longking Co., Ltd. (China), Hamon Corporation (U.S.), and Siemens AG (Germany).New product launches, partnerships, agreements, collaborations, and joint ventures are the key strategies adopted by most market players to achieve growth in the global ESP systems market.

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