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Hot Sauce Market Great Opportunities Available For The Vendors

Global Hot Sauce Market: Snapshot

The global market for hot sauce is thriving at a significant rate and has grown incredibly in the past few years. In the U.S., a market mostly dominated by ketchup, mayonnaise, mustard sauce, and BBQ sauce, hot sauce has started making its presence felt in kitchens. The market has witnessed immense growth pace across a number of other regional markets as well, where Asian cuisine is rapidly becoming the choice of youngsters. It is estimated that the market will continue to thrive in the near future and witness surging demand as new uses of hot sauce in native culinary styles of a number of countries are invented and adopted.  

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Despite the thriving growth witnessed by the market, there has not been a dominant player in the past and the market continues to remain a highly fragmented, also unorganized in several key regional markets. A number of small-scale hot sauce companies are coming up in the market as the consumer demand intensifies. The flurry of new ventures in the market has been central to the variety of hot sauces available in the global market. Chains of supermarkets and hypermarkets playing host to these rapidly rising product varieties are also playing a key role in taking hot sauces to a larger consumer base, especially in emerging economies with a rising population of urban, affluent population.

In the next few years, hot sauces are expected to propagate across an increasing number of facets of kitchens across the globe. The rising consumption of ready-to-eat food varieties is also expected to catalyze the rising number of roles that hot sauces are adopting in everyday diets.

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Fermented Foods Market By New Business Developments, Innovations, And Top Companies

Fermented foods are derived by an anaerobic process which involves the application of natural bacteria that feeds on starch and sugar present in the food to produce lactic acid. Production of lactic acid helps in preserving the food thereby extending the shelf life of the product. Fermented foods contain necessary enzymes, Omega 3 fatty acids, probiotics and vitamin B thereby enriching the food quality and making it healthy for consumption. Fermented foods include dairy products, vegetables, health drinks, desserts, confectionery and others. Fermented foods market has gained a niche of its own by providing unique flavors and taste to the Western palette. Fermented Foods market brings in a large diversity of new foods and flavors thereby impacting the food preferences of the consumers. Global fermented foods market is expected to grow significantly during the forecast period, driven majorly by the product innovation, taste and flavor enrichments, and growing consumer awareness about healthy diets.

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Fermented Foods Market: Market Dynamics

Global fermented foods market is primarily driven by the consumer’s rising health consciousness, change in dietary patterns to curb down physical ailments. Consumption of fermented foods and beverages helps in improving the digestive system by maintaining a proper balance of bacteria in the digestive system, helps in improving immunity system and bowel metabolism. Owing to these health benefits, global fermented foods market is set to witness an increasing demand. The fermentation process is widely used for household as well as restaurant level recipes as fermented foods offer quality taste, nutrition and flavor to consumers’ palette. Fermented foods can be preserved for a long period of time, along with retaining its nutrient value and taste which further boosts up the global fermented foods market. Addition of healthy foods in consumer’s diet can get expensive, but with inclusion of fermented foods in diets are budget friendly preparation. Owing to the multiple benefits such as high nutrition content, rich taste and flavor, ability to retain its quality for a long time and cost-effective diet inclusion, global fermented foods market is expected to witness an escalating demand over the forecast period.

However, fermented foods produce certain by-products which breakdown the food such as alcohol content in soya sauce that is expected to affect the body cells. Ammonia is another harmful by product found in fermented soy which is as harmful as a household cleaning agent. Release of by-products can be a major restraint for the global fermented foods market growth.

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Coconut sugar Market Witnessing High Growth By Key Players

Coconut sugar is a natural sweetener, manufactured from dried nectar of flowers, grown on top of coconut palm trees, is considered to be a beneficial alternative to conventional table sugar. Coconut sugar is healthier than table sugar for diabetic patients and consumers suffering from health problems related to blood sugar. Coconut sugar market witnesses a high demand owing to its nutritional attributes. Coconut sugar offers more minerals and vitamins as compared to white sugar. Coconut sugar contains traces of potassium, vitamin c, calcium, iron, zinc, phosphorus. Besides these, coconut sugar also offers minimal amounts of phytonutrients such as flavonoids, antioxidants, polyphenols, and anthocyanidin.

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Global Coconut sugar Market Dynamics

Coconut palm, as compared to sugar cane require a minimum amount of water, it produces a plenty of coconut products and also supports multi-cropping of various coconut products, coconut sugar being one of them which in turn, has resulted into greater manufacturing of coconut sugar thereby fueling the growth of coconut sugar market. According to Big Farm Trees, coconut palms produces more than 50% to 70% of coconut sugar per acre in comparison to sugar cane on average. Coconut sugar’s nutritional benefits over table sugar have helped the coconut sugar market to witness a significant adoption among the consumers. Coconut sugar can melt and blend gently in recipes along with producing a mild caramel flavor and subtle coconut aroma. This characteristic has uplifted the demand of global coconut sugar market.

However, the coconut sugar market faces few restraints to its continuous ascent. Production of coconut sugar is a labor intensive process owing to the lack of mechanization process. With the aim to produce environment-friendly sweetener, manufacturing of coconut sugar is a time-consuming process. Thus the rapid growth in coconut sugar demand makes it difficult for the coconut sugar manufacturers to meet the increasing demand which thereby hindering the growth of coconut sugar market. The cost of coconut sugar is higher than other sweetener alternatives such as sugar cane, agave and beet sugar which also acts as an obstacle to the coconut sugar market growth.

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High Pressure Processing (HPP) Market Study Landscape And Industry Innovations Encountered Huge Growth

Global High Pressure Processing Market: Overview

High pressure processing (HPP), also known as pascalization, is a technology used in the sterilization of a wide range of food products. HPP is a type of freezing pasteurization in which the products are introduced into a container subjected to close to the maximum level of isostatic pressure exerted by water. The high pressure eliminates the bacteria, yeast, molds, parasites, and viruses present in the food, extending the life of the product and guaranteeing its safety.

High pressure processing is a natural and environmentally viable process that helps in maintaining the nutrients and flavor of the food being processed. It thus provides the benefits of thermal methods while eliminating their drawbacks, which has driven the demand for HPP. Seafood and meat producers are the key consumers of high pressure processing technology.

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The report offers a comprehensive evaluation of the market by providing in-depth qualitative and quantitative insights, historical data, and verifiable projections about the global high pressure processing market’s size. The projections featured in the report have been derived using industry-standard research methodologies and assumptions.

Global High Pressure Processing Market: Trends and Opportunities

Due to its comprehensive efficacy in eliminating most pathogens, high pressure processing eliminates the need for chemical additives. This is a crucial driver for the global high pressure processing market due to the growing perception among consumers that chemical additives are inherently unsafe. Food products without any chemical additives are thus becoming popular across the world, leading to a rising demand from the global high pressure processing market.

Due to its relatively uncomplicated operation, high pressure processing also requires less energy than most other food processing technologies. This is a key driver for the global HPP market, as processing technologies account for a significant part of the total power expenditure of packaged food producers. Furthermore, high pressure processing also takes less time than most other technologies, which helps increase the total output of the production line, which is a significant factor cumulatively.

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Edible Oil Market Strong Development By Major Eminent Players, Emerging Technology Trends

Global Edible Oil Market: Overview

The global edible oil market is anticipated to witness a substantial growth owing to increasing popularity of unrefined, unprocessed, healthy, and organic oil. In the coming years, vegetable oils with low cholesterol, fat, and calories are likely to gain high response due to growing health awareness among people across the world. In addition, major improvement in retail network, increasing crop yields, oil production, and growing economies are some of the prominent factors supporting the growth of the global edible oil market. Furthermore, growing popularity of canola oil, trans-fat free soybean oil, and emerging preference for olive oil will drive the global market for edible oil.

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The report offers a comprehensive overview of the global edible oil market covering all the major factors such drivers, restraints and trends influencing the nature of the market. It also features profiles of the leading players present in the market along with details such as company overview, business strategies, trends adopted, and recent developments in the respective field.

Global Edible Oil Market: Drivers and Restraints

The retail segment is expected to drive the sales of edible oils on account of strong supply chain of chain of edible oil products and established chain of retail outlets. Vegetable oil consumption has increased in developing countries due to increasing demand from growing population, surging retail sector, and rise in overall household income. Additionally, manufacturers of edible oils are adopting advanced processing technique to offer healthier and affordable oil. However, they lack in the production of edible oil in comparison with incoming demand.

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Cold Chain Market Foreseen To Prosper High Growth Industry Innovations Forecasting

Cold Chain Market: Overview

The growing demand for frozen and chilled food and beverages owing to the shifting preferences of consumers will boost the development of the global cold chain market for food industry. In addition, the huge development potential in emerging markets as well as the untapped regions present new development opportunities for the players operating in the global cold chain market for food industry.

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This study provides a detailed evaluation of the cold chain market in the food industry and incorporates statistically backed and industry-validated information, facts, and historical data. It presents a complete evaluation of the top players operating in the market and a crisp insight on the trends and developments taking place in the market. In addition, the strategies adopted by prime players and their key offerings in the market have also been presented. The leading segments and sub-segments in this market and their predicted growth by the end of 2023 is also presented under this report.

A detailed analysis has also been presented on the technological advancements taking place in the market in this study. In addition, the value chain analysis and stake holder analysis of the global cold chain market for food industry is also presented under this report. The dynamics influencing the growth of this market have also been studied in detail under this study. The regulatory scenario of the market has also been highlighted under the purview of this report.

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Breakfast Food Market Will Escalate Rapidly in the Near Future

Breakfast is the one the most important parts of daily diet . The  busy life style has influenced the breakfast food market globally. instant and  low fat content breakfast such as cornflakes, brown bread, salads among others have become a new trend. The breakfast food market is segmented into Breakfast bars, granola and yogurt bars, instant breakfast, toaster and pastries.

The breakfast food market is highly influenced by consumers from different geographical parts of the world.  The  food habits and eating patterns of these people are  dependent on the needs and occasions of eating. The demand for healthy food  in most part of the world has driven the growth in this market and it is expected to continue over next six years. The manufactures focus  on providing nutritional food for consumers to attract the maximum customers.

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Consumer’s eating habits are considered as important input by the manufactures; therefore  they are reducing the usage of ingredients such as sugar, sodium, and fat, moreover  people from developed nations are suffering from obesity problem. The demand for healthier food will fuel the breakfast market in the next six years. Widening distribution network and convenience are the other drivers for breakfast market that increase the consumption of breakfast food items.  With working culture becoming more prominent people now prefer to consume breakfast that can be fast cooked or ready to eat breakfast, however health concern remains the primary concern . Preference for conventional breakfast items such as eggs and bread is shifting towards  less priced and ready to eat breakfast items such as cornflakes among others. The trend is  expected to continue for the period of 2013 to 2019.

The key players in the global breakfast market are Kellogg Co and General Mills among others.

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Freeze Dried Coffee Market  Innovations & Competitive Analysis – Forecast

The rising demand for instant coffee has enhanced the prospects of growth within the global freeze-dried coffee market. There is no contention about the popularity of coffee across all regional pockets. Moreover, boisterous growth of café chains such as Costa, Nero, and Starbucks have further popularised coffee across the globe. It is expected that the global freeze-dried coffee market would gain from the extensive marketing done by large cafes. Freeze-dried coffee is most commonly used in travel pouches for coffee enthusiast. It is quick, easy, and simple to prepare. The total volume of revenues in the global freeze-dried coffee market could multiply in the coming times.

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The creation of emotional and appealing messages around consumption of coffee has enhanced the marketing game of manufacturers. Furthermore, the rising population of people who prefer coffee over tea has also emerged as a key dynamic of market growth. The need for managing the high-demand for coffee across cold regions has led to increased sales for freeze-dried coffee.

Black coffee has become one of the most preferred forms of coffee amongst the masses. Moreover, marketing of latte and doppio flavours has captured the attention of the masses. It is expected that the demand for freeze-dried coffee would grow as people become increasingly inclined towards coffee consumption.

Health-conscious consumers have played an integral role in driving demand within the global freeze-dried coffee market. This is also a key consideration from the perspective of market growth. Based on regions, the demand for freeze-dried coffee in Europe is projected to rise. Several EU nations are prospering through their trade in coffee and related products. The need for improved coffee beans has also emerged as a key dynamic of market growth.

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Rooibos Tea Market Survey On Emerging Opportunities

Rooibos tea Market: Outlook

Rooibos tea is an herbal tea, made up of the leaves of rooibos, a plant native to South Africa. Rooibos tea is also known by its synonyms like red bush tea, African red tea, etc. Rooibos tea has been very much popular in South Africa for generations but is now consumed in many countries across the globe. Rooibos tea has various health benefits; it cures headache, asthma, insomnia, bone weakness, hypertension, allergies, and premature aging. Rooibos tea has a sweet, delicate, and aromatic flavor. Rooibos tea contains chemical compounds, antioxidant, and enzymes that help in reducing inflammation that causes pain and prevents illness.

In the global rooibos tea market, the demand for rooibos tea is experiencing huge surge due to its various health benefits, as it is rich in antioxidants, has low tannins, and is caffeine free. In the global rooibos tea market, the demand for rooibos tea is the highest from Africa, Middle East, American and Asian countries. As the consumption of tea is very high globally, the demand for rooibos would be high in the forecast period. Due to an increase in the demand for this product, investors who have invested in this market can expect high returns in the future.

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Rooibos tea alternative to green/black tea:

Rooibos tea has abundant health benefits. It contains antioxidants which help in curing various health problems. It controls cholesterol levels and provides cardiovascular benefits. In 2011, a test was taken on the cardiovascular disease patients 40 people drank 6 cups of Rooibos Tea for six weeks. In the end, the result was good it reduced the bad cholesterol and increased the good cholesterol. The primary benefit of consuming Rooibos Tea is that it doesn’t contain caffeine, which is found in coffee, black tea as well as in green tea. Rooibos Tea is a good option for people who avoid caffeine completely. Rooibos Tea also controls the blood sugar level in diabetes patients. People are opting safe way to reduce weight by consuming green tea, but green tea contains caffeine so for those people who avoid caffeine can take Rooibos Tea for weight loss purpose. The demand of the Rooibos Tea is increasing due to its various applications in health care. The demand for Rooibos Tea is growing because it is a safe beverage as well as a remedy with no side-effects if taken in the correct quantity.

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Phycocyanin Market Overview On Revolutionary Trends

According to a new study by TMR, the sales of phycocyanin are estimated to reach ~11 million metric tons in 2019. Growth of the phycocyanin market remains driven by a slew of aspects, which range from increased market demand for clean label products and changing regulations in the food and beverage industry, to growing awareness among consumers.  

Phycocyanin is available in various grades and forms. Phycocyanin is a blue pigment extracted from the blue-green algae – spirulina. Phycocyanin belongs to the phycobilli protein group, used primarily as a colorant in various food and beverage products in the global market. Phycocyanin Market is anticipated to grow at a rate of ~7% over the period of 2019-2029. Phycocyanin is available in organic and conventional nature.

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Due to the increasing prevalence of diseases and foodborne allergies, consumers are preferring healthy and clean label ingredients for consumption. Consumers highly care for the provenance of the food and beverage products that they consume. This is creating a trend for organically-produced ingredients and food products. This trend is not only limited to food products but is also being seen in cosmetic products. As a result, organically-produced phycocyanin is witnessing increased demand from consumers and manufacturers alike.

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Health Benefits and Nutritional Contents Associated with Phycocyanin

Phycocyanin, extracted from the blue-green algae, used primarily as a food and beverage colorant, has numerous health benefits. Phycocyanin has been reported to have anti-oxidant, anti-inflammatory, anti-cancer, and immune improving characteristics. The use of phycocyanin for reducing cancer cell growth is being studied. However, other claimed health and nutritional benefits associated with the consumption of phycocyanin are likely to attract the attention of consumers, bolstering the demand for phycocyanin.

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Bladeless Wind Turbines Market Top Scenario, Swot Analysis, Business Overview & Forecast

Wind is an essential part of the global renewable energy landscape and in the foreseeable future, the reliance on it is anticipated to increase. Currently, turbines are the most commonly used machines to convert wind energy into electrical energy with the movement of the blades fuelling an electricity generator. However, the top-heavy nature of conventional wind turbines requires high-quality components to avoid structural damage. This factor increases the cost of constructing the whole system. On the other hand, with the recent innovation of bladeless wind turbines, the risk of structural damage to the system can be reduced significantly. Bladeless wind turbines do not include rotating blades and are designed in such a way that they stand erect and oscillate in response to the vortices. The reduced weight of these turbines is acting as a primary driver of the global bladeless wind turbines market.

The report offers insights into the drivers, restraints, and opportunities impacting the growth of the market. It calculates the competitive landscape of the market using analytical tools such as market attractiveness analysis and Porter’s five force analysis. It presents a holistic perspective of the market’s growth across various regions and product type in terms of revenue as well as volume.

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Overview of the Global Bladeless Wind Turbines Market

Bladeless wind turbines contain only a few moving parts. They not only help in eliminating noise but also don’t pose a threat to birds. This makes them more advanced than their earlier counterparts. Moreover, the lower cost of manufacturing and maintenance of these turbines is contributing to an increase in their demand. In addition to lower costs, these turbines do not suffer large drop in power. As a result, more bladeless wind turbines can be installed per unit area than conventional wind turbines. These factors, collectively, are propelling the growth of the global bladeless wind turbines market.

On the flip side, bladeless wind turbines, being at a nascent stage, are less efficient in the conversion of captured wind power into electrical energy, thus limiting their implementation on a large scale. However, the manufacturing of bladeless wind turbines using advanced technology and enhanced materials is likely to boost the demand for these turbines in the forthcoming years.

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Connected Mining Market Emerging Trends And Strong Application Scope

Connected mines are quickly being recognized as the next step in mining resource management and extraction. The primary function achieved by the implementation of connected mining is the speeding up of the mining process by the workers, while ensuring top level worker safety. Safety is the top priority in any mining scenario and the implementations provided in the global connected mining market are instrumental in obtaining the safest method of resource extraction possible.

Key segmentations in the global connected mining market are made on the basis of services, solutions provided, and regions. Each segment is described in terms of market statistics and latest user trends and demand values. Consulting, maintenance and support, and systems integration are the key segments in the global connected mining market as per services offered.

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The report offers a high level of comprehensive analytics performed on the latest statistics on the global connected mining market. These analytics are used to gain valuable insights into the market’s future in terms of segment dynamics and predicted opportunities and restraints. The key projections in the global connected mining market have been generated through logical assumptions and proven research methodologies.

Overview of the Global Connected Mining Market

The introduction of advanced technologies and the Internet of Things have drastically improved the scope of functionalities in the global connected mining market. Their inculcation has allowed a large number of smaller businesses to enter the market with relative ease. It has significantly improved the cost-efficiency quotient of connected mining technologies on a global scale. The global connected mining market has thus been able to gain grounds at a rapid rate in terms of demand and implementation.

Worker safety and efficiency can be maintained at a high level in mining through the use of secure IP networks and multi-service networks. They help ensure optimal operational efficiency in terms of regular operations and can also be maintained at that efficiency for longer durations.

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Floating Liquefied Natural Gas Market Extensively Used By The Majority Of Industries Forecast

Global demand for natural gas has been rising as it is a preferred fuel in power generation in various industries. Natural gas is cleaner, safer, and more cost-effective than other fuels. It has the potential to significantly reduce greenhouse gas (GHG) emissions. Natural gas is consistently being used to substitute high pollutant fuels such as coal and fuel oil in power and industrial sectors in several countries. Natural gas is a multipurpose fuel. Its growth is associated in part to environmental benefits relative to other fossil fuels.

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FLNG terminals provide a solution for gas to be processed, stored, and liquefied in offshore facilities before loading it on to tankers for export. FLNG systems operations and processes are carried out for the movement of off-shore based natural gas reserves. Floating terminal operations and processes are majorly used for production, storage, liquefaction, and transfer of liquefied natural gas from offshore gas reserves to onshore ones. FLNG terminals offer cost-effective solution for the development of standard fields. Oil & gas companies can relocate their vessel to other fields due to the depletion of resources. This not only lowers the decommissioning cost but also reduces the cost of adding new fields. Offshore FLNG production vessels can be described as placing the traditional onshore liquefaction plant on liquefied natural gas tanker which delivers the storage capacity.

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FLNG terminals generate liquefied natural gas directly on off-shore floating systems. This helps lower down the investments required for onshore LNG system development. FLNG terminals require less space; this minimizes the development cost and reduces disturbance caused by space requirements. The opportunity provided by the Floating Storage Regasification Unit (FSRU) and Floating Production Storage and Offloading (FPSO) contractors to lease FLNG vessel enables smaller independent energy companies it also helps companies by avoid ordering and buying cost of liquefaction equipment and facility requirement.

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Smart Transformers Market Leading Players Envisioned By The Analysts Forecast

Smart transformers are transformers which integrates a general transformer’s features with monitoring software and communication technology among others. Power transformers are one of the most important and complex component of the electricity generation and transmission process. An owner of a power transformer has to face certain challenges such as high maintenance cost for extending life of a transformer among others.  Failure of a power transformer can lead to dire consequences such as revenue loss, life loss and legal consequences among others.

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Such challenges have led to the advent of smart transformers. This new-age transformers are designed to allow the maintenance of the power load independently. They can regulate the voltage constantly, while maintaining contact with the smart grid infrastructure, and deliver the optimal amount of power as and when required. They are programmed to allow remote monitoring and can act on any power fluctuations instantly. Provision for remote monitoring of critical components of the transformer, through in-built sensors, increases reliability of continuous power distribution and reduces chances of transformer failure. Faults can be recognized remotely on a real-time basis and actions can be taken faster. The smart transformers are also more environment friendly as they reduce energy consumption and thus reduce the emission of green house gases. They are also equipped to protect electrical equipments by safeguarding them from voltage fluctuations leading to increase in longevity of those equipments.

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Oil Cleaning Market Witness Excellent Revenue Growth, Emerging Trends & Forecast

Oil is used in various industries such as automotive, marine, aerospace, manufacturing and production. The demand for oil in these industries is always high, leading to growth in oil cleaning market. Oil can be used repetitively as long as it’s clean. Motors and machinery are important parts in any industry. Oil aids in the smooth functioning of motors and machinery. The filters used to refine oil get degraded over time causing impurities in oil. Oil cleaning removes various impurities in oil such as acids, sludge, solid particles, water contaminants and minute traces of fuel. Oil cleaning systems are used to purify oil. Oil cleaning machines are bypass system; they can be installed on the oil supply pipe towards the engine. An oil cleaning machine sends oil to its purifier by using the engine oil pressure.In this first stage of filtration contaminants greater than one micron are removed and gravity helps oil to travel back into the engine. The filters of the purifier are changed on reaching the contamination parameters and these filters are now recyclable.

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The oil cleaning market is developing with decrease in equipment prices and increasing consumer awareness. New entrants in this market will find high opportunity and diversifying firms will have a chance to ascertain firm control over the developing market.China, Europe, United States, Japan and South Korea are the major markets for oil cleaning. Industries in these countries are undergoing a gradual shift towards increase use of oil cleaning market as these equipment cut the oil procurement cost by half.

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Indonesia Power Generation Market New Research Report Analysis, And Forecast

The Indonesia power generation market is expected to reach US$63.6 bn by the end of 2022. This market was recorded at US$14.1 bn in 2013 and is projected to expand at an 18.70% CAGR within a forecast period from 2014 to 2022, as stated in a research report released by Transparency Market Research. The report, titled “Power Generation Market – Indonesia Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022,” provides a clear picture of this market’s future in terms of opportunities for expansion and investment, as well as a map of drivers and restraints that can be negotiated with.

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According to the report, the Indonesia power generation market is expanding at a CAGR of 8.50% within the given forecast period, in terms of generation capacity. The power generation totaled 44.4 GW in 2013 and is expected to reach 90.1 GW by 2022.

The report states that the primary driver of the Indonesia power generation market is the constantly increasing demand for power in the region. As per findings, the demand for electricity in Indonesia is expected to grow from 206.5 TWh in 2013 to a projected 2022 value of 442.5 TWh, exhibiting a CAGR of 9.10% in the given forecast period.

The Indonesia power generation market has been segmented to improve user perspective. It is segmented on the basis of the technology used into combined cycle power generation, hydro power generation, geothermal power generation, oil-fired power generation, natural gas-fired power generation, and coal-fired power generation. Of these, the Indonesia power generation market was led by coal-fired power generation technology in 2013, when it was used to generate nearly 54% of the overall electricity in the region. The report’s authors expect this segment to retain its leading position throughout the forecast period.

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Electrical Submersible Pumps Market Global Business Growth, Demand, Trends, Key Players And Forecasts

A large number of prominent enterprises with strong brands currently represent the majority in the global electrical submersible pumps (ESPs) market. This provides the market with a highly competitive vendor landscape. According to Transparency Market Research (TMR), the top four companies operating in the market, comprising Schlumberger Limited, Borets Company, LLC, Baker Hughes Incorporated, and GE Oil & Gas, held over 86% of the global ESP market in 2013.

In order to gain a competitive advantage, a majority of these companies are looking to acquire smaller enterprises and regional players. Besides mergers and acquisitions, TMR also finds these companies to invest in technological innovations and product differentiation to gain a stronghold in the market. Spurred by the aforementioned factors the level of competition prevailing in the market will shift from medium to high during the forecast period from 2014 to 2022.

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Increasing Emphasis on Unconventional Resources to Boost ESP Deployment

Globally, the demand for oil has been rising at a positive rate. In order to pace up with the increasing demand, oil industries are currently engaged in exploring newer reserves and drilling deeper into the existing ones. Depleting oil reserves have also compelled producers to use novel technologies that will enable them drill deeper into oil wells. This has led to the higher adoption of the steam assisted gravity drainage (SAGD) method, which is subsequently fuelling the installation of ESPs. These machines have proven highly beneficial in overall SAGD process.

Maturing oil wells, depleting oil reserves, and declining oil reservoirs are the primary factors encouraging the adoption of electrical submersible pumps across the oil and gas industry. “Rising explorations and production (E&P) across non-conventional resources in North America will considerably fuel demand for ESPs,” said a lead TMR analyst. “The growth in hydrocarbon recovery from these unconventional resources and the increasing E&P activities in the shale gas sector will also fuel demand for the equipment,” he added.  

The market is also expected to gain from the increasing investment in brown field and green field projects by the major companies engaged in E&P.

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