Oil & Gas Electric Submersible Pump Market Size - By Pump Type, By Motor Types, By Power Rating, By Deployment Method, By Well Depth, By Control System, By Deployment Type, By Operation, By Application, By Distribution Channel & Forecast, 2026 – 2035

Oil & Gas Electric Submersible Pump Market Size

The oil & gas electric submersible pump market was estimated at USD 6.4 billion in 2025. The market is expected to grow from USD 6.7 billion in 2026 to USD 13 billion in 2035, at a CAGR of 7.6% according to latest report published by Global Market Insights Inc.
 

• Population growth and rapid industrialization in emerging economies are driving unprecedented levels of demand for energy, especially in established markets. As a result of this increased demand for energy, there is an urgent need for more advanced and efficient methods of extracting oil and gas from the ground. Among these technologies the currently employed in the oil and gas industry are electric submersible pumps (ESPs). In the oil industry, ESPs are used to boost production from older, declining fields. ESPs are also an effective way to maximize the efficiency of the extraction process and address high-volume, large-scale production.
   
• In addition, global energy demand will continue to rise significantly over the coming years. The international energy agency (IEA) has predicted that worldwide demand for energy will grow 25% from 2010 to 2040. These predictions further underscore the importance of implementing advanced technology in extracting resources, including the use of electric submersible pumps, to meet future demands for energy.
   
• Although electric submersible pump (ESP) systems have many advantages, there are still many challenges with using an ESP System, especially for smaller operators and especially in periods of low oil prices. One of those challenges is the high initial expense for the acquisition and installation of an ESP system, which can be very difficult for smaller companies to afford when they are operating on a limited-capital budget. New pump designs, greater pump material durability, and the introduction of real-time monitoring systems have made ESPs more efficient and cost-effective. The latest generation of ESPs – referred to as “smart ESPs” – incorporates internet of things (IoT) capabilities, as well as predictive analytics, to create a better operating model for accelerating operations on oilfields. Operators can view the performance of these ESPs remotely, reduce downtime and develop predictive maintenance programs to maintain consistent production. Baker Hughes reports a 30% reduction in downtime in certain oilfields from their smart ESPs, showing that these technologies are providing quantifiable improvements in efficiency and reliability.
   
• Electric submersible pumps have many advantages, but they present challenges to small companies, as well as for companies during low oil prices. For example, the high upfront costs associated with equipment purchasing and installing an electric submersible pump is a large obstacle for many companies, especially when the companies' capital budgets are limited.
   
• Additionally, the complex installation process require additional technical skill and knowledge to install them correctly, which further increases the cost of deploying the electric submersible pump from the start. Regular maintenance is also necessary to keep electric submersible pumps operating at peak efficiency, which increases ongoing operational costs while creating an additional burden on operators, especially in a poor economy. These challenges indicate that there is a need for more cost-effective ways to support operators, which would help increase the use of electric submersible pumps across the oil and gas industry.
   

Oil & Gas Electric Submersible Pump Market Trends

• Advanced technologies including the integration of artificial intelligence (AI), internet of things (IoT), and advanced sensing technologies are creating a major change to how oilfield operation's take place through integration into distributed control systems that control electric submersible pump (ESP) systems. By utilizing these advanced technologies operators can monitor ESP systems in real-time, forecast and prevent any failure through predictive maintenance and optimize the overall operation of the ESP's by making use of all available data. By making use of these intelligent ESP systems the oilfield operators will be able to minimize unexpected production problems, increase production efficiency, and increase the reliability of their production operations to maximize the profit potential for this highly competitive oil and gas industry.
   
• In addition, responding to new and stricter carbon emission regulations is one of the main drivers behind the transition to energy-efficient ESPs. Advanced pumps are gaining traction among producers of ESPs as they require less energy to run than traditional models while still providing similar or enhanced performance levels for both economic and environmental benefits. An example of this trend can be found in March 2021 when Flowserve Corporation launched its 'Byron Jackson' branded deep submersible pumps and motors built specifically for water-centric applications. These three-phase pumps are designed to meet the needs of a variety of different industries such as agriculture, municipal water systems, industrial processes and mining, highlighting their versatility and efficiency across many application types. 
   
• ESPs have incorporated new features and improvements in pump design to improve efficiency and decrease the consumption of energy. New technology such as high-efficiency motors have had a significant reduction in the loss of energy, along with implementing variable speed drives (VSD) allowing for real-time adjustment of pump speed based on immediate needs. The introduction of these technologies and innovations improved the reliability and functional life of the ESP systems while also meeting the overall goals of the entire oil and gas industry to be more sustainable. By using energy-saving technology, oil and gas companies are striving to create a balance between being efficient in their operations and being environmentally responsible while maintaining the ability to operate in a changing and rapidly developing global market.
   

Oil & Gas Electric Submersible Pump Market Analysis

Based on deployment type, the market is categorized into onshore and offshore. The onshore accounted for revenue of around USD 4 billion in 2025 and is anticipated to grow at a CAGR of 7.7% from 2026 to 2035.
 

• The growth is primarily driven by the increasing number of mature onshore oilfields that require artificial lift solutions to maintain production levels. Onshore operations are generally more cost-effective compared to offshore projects, making them attractive for operators seeking to optimize production while controlling expenses.
   
• Additionally, the rising demand for hydrocarbons, coupled with enhanced recovery techniques in aging reservoirs, is fueling the adoption of ESPs for efficient fluid handling and improved productivity. Technological advancements such as high-efficiency ESP systems, remote monitoring, and predictive maintenance tools are further boosting deployment in onshore fields by reducing downtime and operational costs.
   

Based on operation of oil & gas electric submersible pump market consists of single stage and multistage. The multistage emerged as leader and held 74.9% of the total market share in 2025 and is anticipated to grow at a CAGR of 7.3% from 2026 to 2035.
 

• Multistage ESPs consist of multiple impellers that provide the necessary lift to move large quantities of oil, water, and gas from deep reservoirs to the surface, making them ideal for complex and high-capacity wells, including offshore and unconventional fields. As global oil and gas production increasingly targets deeper and more challenging reservoirs, the demand for multistage systems continues to rise.
   
• These pumps offer superior performance, durability, and adaptability to varying well conditions compared to single-stage systems, which are limited to shallow wells with lower flow rates. Furthermore, technological advancements such as enhanced materials for corrosion resistance, improved motor efficiency, and integration with digital monitoring systems have boosted the reliability and operational life of multistage ESPs.
   

Based on distribution channel of oil & gas electric submersible pump market consists of direct and indirect sales. The direct sales channel emerged as leader and held 71.4% of the total market share in 2025 and is anticipated to grow at a CAGR of 7.7% from 2026 to 2035.
 

• Direct sales allow companies to provide technical support, installation services, and after-sales maintenance, which are critical for complex ESP systems operating in challenging environments. This approach ensures better communication, faster response times, and improved reliability, which are highly valued in the oil and gas industry where downtime can lead to significant financial losses.
   
• Additionally, direct sales channels facilitate integration of advanced technologies, such as real-time monitoring and predictive analytics, by offering bundled service packages that enhance operational efficiency. The growing trend of digitalization and remote monitoring in oilfield operations further strengthens the need for direct engagement, as manufacturers can provide training and technical expertise directly to clients.
   

The U.S. dominates an overall North America oil & gas electric submersible pump market with about USD 1.41 billion in 2025 and is estimated to grow at a CAGR of 8.1% from 2026 to 2035.
 

• The advancements in ESP technology such as improved reliability, higher efficiency, and integration with digital monitoring systems are enabling operators to optimize performance and reduce downtime, further boosting adoption. Rising investments in offshore projects, coupled with the need for cost-effective solutions to maximize output from declining wells, also contribute significantly to market expansion.
   
• Moreover, the growing focus on energy security and domestic production, supported by favourable government policies and sustained demand for hydrocarbons in industrial and transportation sectors, underpins long-term growth prospects. The trend toward automation and remote monitoring in oilfield operations enhances operational efficiency, making ESPs an attractive choice for operators seeking to reduce operational costs and improve productivity in challenging environments.
   

In the European oil & gas electric submersible pump market, Germany is expected to experience significant and promising growth from 2026 to 2035.
 

• Germany is increasingly focusing on enhancing domestic energy security and reducing reliance on imports, which is driving investments in oil and gas exploration and production activities, particularly in mature fields that require efficient artificial lift solutions like ESPs. The country’s strong emphasis on technological innovation and adoption of advanced pumping systems to improve operational efficiency and reduce downtime is further accelerating market growth.
   
• Additionally, Germany’s oil and gas sector is undergoing modernization, with operators integrating digital monitoring and automation into ESP systems to optimize performance and lower maintenance costs. The rising demand for energy in industrial applications, coupled with the need to maximize output from existing reserves, is pushing companies to deploy high-performance ESPs.
   

In the Asia Pacific oil & gas electric submersible pump market, the China held 34.4% share in 2025 and is anticipated to grow at a CAGR of 8.2% from 2026 to 2035.
 

• The country’s rising energy demand, fueled by rapid industrialization and urbanization, is pushing operators to maximize output from mature and challenging reservoirs, where ESPs are essential for efficient artificial lift.
   
• Additionally, China is investing heavily in technological advancements and automation within its oilfield operations, integrating smart monitoring systems with ESPs to enhance reliability, reduce downtime, and optimize production costs. Government initiatives aimed at strengthening domestic energy security and reducing dependency on imports are further encouraging upstream investments, creating a favorable environment for ESP deployment.
   

Middle East and Africa Oil & Gas Electric Submersible Pump Market

In the Middle East and Africa oil & gas electric submersible pump industry, Saudi Arabia held 20.4% market share in 2025, with promising growth expected from 2026 to 2035.
 

• The country is investing heavily in advanced artificial lift technologies, including ESPs, to optimize production efficiency and reduce operational costs in both onshore and offshore fields. With the increasing complexity of reservoirs and the need to sustain high production rates, ESPs are becoming critical for handling large volumes of fluids and operating in challenging environments.
   
• Furthermore, Saudi Arabia’s long-term energy strategy, supported by government-backed projects and partnerships with leading oilfield service providers, is fostering technological innovation and modernization of oilfield infrastructure. The growing adoption of digital monitoring and automation in ESP systems is enabling predictive maintenance and real-time performance optimization, which aligns with the Kingdom’s vision for operational excellence.
   

Oil & Gas Electric Submersible Pump Market Share

• In 2025, the prominent manufacturers in oil & gas electric submersible pump industry are Schlumberger Ltd, Baker Hughes, Halliburton, Borets International Ltd and Novomet collectively held the market share of ~30%.
   
• Schlumberger solidifies its leadership by consistently investing in advanced digital oilfield technologies and state-of-the-art ESP (Electric Submersible Pump) systems. By integrating real-time monitoring, predictive analytics, and IoT-enabled sensors into its ESP solutions, Schlumberger enables operators to enhance operational performance, optimize production rates, and significantly minimize unplanned downtime. The company prioritizes the development of high-efficiency pumps specifically designed for unconventional reservoirs and extreme environments, ensuring robust reliability in deepwater, high-pressure, and high-temperature applications. Their innovation strategy incorporates AI-driven optimization platforms and remote operations capabilities, effectively reducing operational costs, enhancing production efficiency, and enabling seamless management of complex oilfield operations.
   
• Baker Hughes maintains its competitive edge by leveraging advanced smart ESP systems integrated with digital twin technology, enabling precise predictive maintenance and superior performance optimization. The company emphasizes the development of energy-efficient designs and high-horsepower ESPs engineered to perform in challenging wells, including those with high gas-to-liquid ratios and extreme operating conditions. Baker Hughes invests heavily in automation technologies and cloud-based monitoring platforms, allowing operators to remotely manage and optimize ESP operations in real time. Their R&D efforts focus on extending ESP run life, reducing intervention costs, and enhancing operational reliability, which are critical for offshore platforms and unconventional oilfield applications.
   

Oil & Gas Electric Submersible Pump Market Companies

Major players operating in the oil & gas electric submersible pump industry include:

• Atlas Copco AB
• Baker Hughes
• Borets International Ltd
• Crompton Greaves Consumer Electricals Limited
• EBARA CORPORATION
• Flowserve Corporation
• Gorman-Rupp Pumps
• Grundfos Holding A/S
• Halliburton
• Novomet
• Schlumberger Ltd
• Sulzer Ltd
• Tsurumi Manufacturing Co. Ltd.
• Weatherford
• WILO SE
   

Halliburton differentiates itself through its integrated artificial lift solutions and highly customized ESP designs tailored to meet specific reservoir conditions and production requirements. The company invests in advanced materials, such as corrosion-resistant alloys and wear-resistant coatings, to enhance pump durability in highly corrosive and abrasive environments. By incorporating digital control systems and leveraging real-time data analytics, Halliburton improves operational efficiency, reduces failure rates, and ensures optimal production performance. Their innovation portfolio includes high-temperature ESPs designed for ultra-deep wells and modular systems that allow rapid adaptation to fluctuating production demands, providing operators with unmatched flexibility and cost-effectiveness in diverse operational scenarios.
 

Borets focuses on delivering cost-effective ESP solutions and long-life pump designs specifically engineered for mature and marginal oilfields. The company invests in energy-efficient motors, advanced sealing technologies, and high-performance components to enhance system reliability and significantly reduce maintenance requirements. Borets emphasizes the use of remote monitoring platforms and predictive diagnostic tools, enabling operators to implement proactive maintenance strategies and minimize operational downtime. Their innovation strategy includes the development of compact ESP systems optimized for slim-hole applications and customized solutions for wells with high sand content, high gas content, or other challenging conditions, ensuring superior performance across a wide range of operating environments.
 

Oil & Gas Electric Submersible Pump Industry News

• In August 2025, Halliburton introduced SK Well Pages, an AI-powered ESP data workspace within its Summit Knowledge ecosystem. This innovative platform enhances predictive maintenance and operational insights, driving smarter decision-making and improved efficiency.
   
• In July 2025, Schlumberger completed an all-stock acquisition of ChampionX, strategically enhancing its portfolio with advanced capabilities in chemicals, emissions technology, and AI-driven lift systems, further solidifying its market position.
   
• In September 2024, Halliburton launched the TrueSync hybrid permanent magnet motor for ESPs, delivering 20% higher efficiency. Its streamlined design supports deeper well applications and integrates advanced analytics, setting a new benchmark in operational performance.
   
• In July 2024, Halliburton unveiled GeoESP lifting pumps designed specifically for geothermal wells. These pumps operate efficiently at extreme temperatures of up to 220 °C and feature superior resistance to scale and abrasion, ensuring reliability in challenging environments.
   
• In April 2024, Schlumberger (SLB) introduced its Reda Agile compact wide-range ESP and PowerEdge ESPCP rodless progressing cavity pump systems. These cutting-edge solutions offer expanded operating ranges, significantly reduce installation times, and lower CO2? emissions by up to 55%, showcasing a strong commitment to innovation and sustainability.
   

The oil & gas electric submersible pump market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) and volume (Thousand Units) from 2022 to 2035, for the following segments:

Market, By Pump Type

• Centrifugal
• Axial flow
• Positive displacement
• Progressive cavity

Market, By Motor Types

• Induction motors
• Permanent magnet motors (PMMs)
• High-temperature motors

Market, By Power Rating

• Up to 500 HP
• 500-1000 HP
• 1000-2000 HP
• Above 2000 HP

Market, By Deployment Method

• Conventional rig-based deployment
• Alternative & rigless deployment

Market, By Well Depth

• Shallow wells (≤ 1,000 m)
• Intermediate (1,000–2,500 m)
• Deep (2,500–4,000 m)
• Ultra-deep (> 4,000 m)

Market, By Control system

• Fixed frequency 
• Variable speed
• Digital optimization (Intelligent/IoT-enabled systems)

Market, By Deployment Type

• Onshore
• Offshore

Market, By Operation

• Single stage
• Multistage

Market, By Application

• Oil production
• Gas production
• Water injection
• Artificial lift (EOR)
• Thermal recovery

Market, By Distribution Channel

• Direct sales
• Indirect sales

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Malaysia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • Saudi Arabia
  • UAE
  • South Africa