SUBMERSIBLE PUMPS MARKET ANALYSIS

Key Developments

• In May 2023, Curtiss-Wright Corporation announced a strategic agreement with Shell Exploration & Production Company to design, manufacture, test, and provide operational support for a Subsea Canned Motor Boosting System to be deployed at a Petrobras production field in the Campos Basin, Brazil. This collaboration aims to leverage Curtiss-Wright's canned motor technology as an effective and reliable alternative to current subsea pump technologies, reducing unplanned outages and production interruptions.
• In January 2022, Lotte Chemical announced the construction of an ethylene cracker plant in Indonesia, which is expected to have a capacity of 1,000 kilometric tons per annum and begin commercial operations by 2025.
• In February 2022, Industrial Flow Solutions, a leading provider of industrial pumping solutions and a portfolio company of May River Capital, announced the acquisition of Dreno Pompe, an Italian designer and manufacturer of high-quality electrical submersible pumps for industrial, municipal, and residential wastewater applications.
• In September 2021, Kirloskar Brothers Limited (KBL) introduced the NEO Series 4-in borewell submersible pumps, designed to cater to the needs of rural, domestic, and community water supply markets, including farming, buildings, and construction sectors.