The Global Electric Submersible Oil Pump Power Cable Market was valued at USD 1.29 Billion in 2023 and is projected to reach USD 1.71 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 3.2% during the forecast period (2024–2032). This steady growth is driven by increasing oil & gas exploration activities, rising demand for efficient artificial lift systems, and technological advancements in cable materials.

As the energy sector evolves toward more efficient and durable sub-surface solutions, the focus shifts to key manufacturers developing high-performance power cables for harsh downhole environments. In this analysis, we examine the Top 10 Companies in the Electric Submersible Oil Pump Power Cable Industry—global leaders combining engineering expertise with innovative materials to optimize oil production.

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1. Schlumberger Limited

Headquarters: Houston, Texas, USA
Key Offering: REDA Hotline®, VENOM ESP Cable Systems

Schlumberger dominates the ESP cable market through its REDA pumping solutions division, supplying advanced cables for extreme temperature and corrosive environments. Their products feature proprietary insulation technologies optimized for deep well applications.

Technical Advantages:

• Operation in wells up to 300°C (572°F) temperature rating

• Armored designs for abrasion resistance in deviated wells

• Integrated monitoring capabilities through digital solutions

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2. Baker Hughes Company

Headquarters: Houston, Texas, USA
Key Offering: Centrilift ESP Cables, Phoenix HT High-Temp Cables

Baker Hughes delivers comprehensive ESP cable solutions through its Centrilift brand, with special focus on challenging offshore and unconventional reservoir applications. Their cables are engineered for reliability in high-H₂S environments.

Technical Advantages:

• Lead-jacketed options for corrosive well conditions

• Flat cable designs for space-constrained installations

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3. Prysmian Group

Headquarters: Milan, Italy
Key Offering: Prysmian ESP Cables, Dynex® Specialty Compounds

As the world’s largest cable manufacturer, Prysmian brings materials science leadership to ESP cable production, supplying major oilfield operators globally with high-reliability power delivery solutions.

Technical Advantages:

• Nanocomposite insulation materials development

• Full vertical integration from raw materials to finished cables

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4. Nexans SA

Headquarters: Paris, France
Key Offering: WellForce® ESP Cables, HE200 High-Temperature Cables

Nexans specializes in cables for extreme downhole conditions, offering both round and flat cable configurations with enhanced mechanical protection systems for extended run life.

Technical Advantages:

• Metal-clad designs for maximum crush resistance

• Customized solutions for geothermal applications

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5. Levare (Borets International)

Headquarters: Moscow, Russia
Key Offering: Borets ESP Cables, Arctic-Grade Solutions

Borets through its Levare division provides specialized cables for harsh climate operations, including permafrost and offshore Arctic environments where temperature differentials challenge conventional materials.

Technical Advantages:

• Cold-resistant elastomer compounds (-60°C/-76°F)

• Integrated pressure-blocking technologies

Download FREE Sample Report: Electric Submersible Oil Pump Power Cable Market – View in Detailed Research Report

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6. Huatong Wires & Cables Co., Ltd.

Headquarters: Qingdao, China
Key Offering: HT-ESP Series, Cost-Effective Flat Cables

Huatong has emerged as a leading Asian manufacturer of ESP cables, combining competitive pricing with improving technical specifications to serve growing regional oilfield demands.

Technical Advantages:

• Localized production for Asia-Pacific markets

• Rapid customization for unconventional well designs

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7. Wanda Cable Group

Headquarters: Hefei, China
Key Offering: WD-ESP Cables, High-Temperature Options

Wanda provides comprehensive cable solutions for Chinese domestic oilfields while expanding into international markets, particularly in Africa and the Middle East.

Technical Advantages:

• Special H₂S-resistant formulations

• Modular connection systems for field deployment

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8. Halliburton (Summit ESP)

Headquarters: Houston, Texas, USA
Key Offering: Summit ESP Cables, i-Sense Monitoring

Halliburton’s ESP cables integrate with their artificial lift monitoring platforms, offering smart cable solutions that provide real-time performance data to optimize production.

Technical Advantages:

• Embedded fiber optics for distributed sensing

• High-voltage designs (5kV) for deep wells

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9. Marmon Utility LLC (Berkshire Hathaway)

Headquarters: Chicago, Illinois, USA
Key Offering: ESP Power Cables, Specialty Oilfield Cables

Marmon provides robust cable solutions through its utility division, focusing on reliability in North American shale plays and thermal recovery operations.

Technical Advantages:

• Steam-assisted gravity drainage (SAGD) rated cables

• Phase-separated designs for enhanced cooling

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10. General Cable (Prysmian Group)

Headquarters: Highland Heights, Kentucky, USA
Key Offering: ESPRound® Cables, ArmorLite® Protection

Now part of Prysmian, General Cable maintains its legacy in oilfield cable manufacturing with a focus on North and South American markets, supplying both onshore and offshore operators.

Technical Advantages:

• Composite armor technology for weight reduction

• Quick-connect termination systems

Get Full Report Here: Electric Submersible Oil Pump Power Cable Market – View in Detailed Research Report

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Outlook: The Future of ESP Power Cables Is Smarter and More Durable

The electric submersible pump cable market is evolving to meet demands from deeper, hotter, and more corrosive well environments while incorporating digital monitoring capabilities.

Key Trends Shaping the Market:

• Advanced materials development for extreme temperature resistance

• Integration of distributed temperature sensing (DTS) fibers

• Modular connection systems for faster deployment

• Growing adoption in geothermal energy applications

Get Full Report Here: Electric Submersible Oil Pump Power Cable Market – View in Detailed Research Report

The companies profiled are not just manufacturing cables—they’re engineering mission-critical components that enable efficient hydrocarbon production in increasingly challenging environments worldwide.