Press release
Oil & Gas Pumps Market Research Report through 2018-2028 | Key Players are Xylem, GRUNDFOS, Weir Group, Flowserve Corporation, KSB SE & Co. KGaA, etc.
Tier 1 Players Account for Nearly 40% Share in Oil & Gas Pumps Market: With diverse product portfolio, tier 1 players account for nearly 40% share of the oil & gas pumps market. Expansion with new product launches, industry and supply chain partnerships, and strategic acquisitions are among the key strategies of market players. Major players in the oil & gas pumps market are also integrating sensors and monitoring software to provide advance monitoring system. Xylem, GRUNDFOS, Weir Group, Flowserve Corporation, KSB SE & Co. KGaA, and Sulzer Ltd. are some of the leading companies in the oil & gas pumps market.Request for Sample of this Global Market Research Report Here - https://www.factmr.com/connectus/sample?flag=S&rep_id=2435
According to International Energy Agency’s (IEA’s) Oil Market Report, oil demand is projected to increase to 99.3 million b/d in 2018. Growing oil supply from Saudi Arabia, Russia, and the US is likely to create sustained opportunities for oil & gas pumps market players. Oil is projected to remain the fuel with the major share in the energy mix. The demand for OPEC crude is projected to increase to nearly 40 million b/d by 2040, as per the Organization of the Petroleum Exporting Countries (OPEC). Moreover, refinery additions are expected in the Asia Pacific, the Middle East, Africa, and Latin America in the coming years.
The demand for natural gas is likely to increase, especially from Asian markets. With strong policy support, China is likely to account for the major share in gas, with demand likely to grow by 60% during 2017-2023, as per the IEA analysis. Moreover, with increasing gas production in the US, most of the supplies will be geared to export market through pipelines or as LNG. This is likely to result in significant demand for oil & gas pumps worldwide.
Investment in Innovation Growing
The process of innovation in the oil & gas industry is being driven by the oil & gas pumps integrated with new technology. Manufacturers in the oil & gas pumps market are focusing on developing Industrial Internet of Things (IIoT) integrated smart oil & gas pumps including data collection device, sensors, and analysis/monitoring software.
Failure of pumps, compressors, and other equipment is significantly impacting safety, field operations, and revenues in the oil & gas industry worldwide. Hence, the demand for smart pumping technology is growing in the oil & gas industry to ensure pumps are operating effectively and efficiently.
Request Global Market Report with TOC Here - https://www.factmr.com/report/2435/oil-gas-pumps-market
The shift from conventional oil & gas production to multi-phase pumping is also on a rise. The multi-phase pumping eliminates the need to separate oil, gas, or water, thereby directly transporting the production from field to the central processing unit. Multi-phase oil & gas pumps available in both low-pressure and high-pressure designs are witnessing growing demand from onshore, offshore, and subsea installations.
Manufacturers are integrating different types of sensors including temperature sensors, chemical sensors, pressure sensors, magnetic sensors, and gas sensors in the oil & gas pumps to provide advanced monitoring system.
Stringent Emission Regulations on Oil & Gas to Remain Longstanding Challenge
With the rise in global emission levels, governments across various countries are introducing strict emission regulations in the oil & gas industry. The oil and natural gas industry is the largest source of methane and other volatile organic compounds (VOCs). The worldwide dependency on oil & gas is higher, especially for transportation and energy, this is resulting in the increase in emission levels due to oil and gas production. Hence, to meet the emission standards, companies are focusing on using renewable sources of energy including solar and wind energy.
With the reduction in gas flaring, the World Bank Group has also introduced the Global Gas Flaring Reduction Partnership, including majority of the companies trying to set flaring targets to eliminate emission of harmful chemicals.
Meanwhile, Canada has also introduced first-ever carbon emission regulation for the oil & gas companies. The regulation forces oil and gas companies in Canada to monitor methane leaks and also require high-emitting equipment such as compressor and oil & gas pumps to be replaced with zero or low-emitting alternatives.
To Buy Global Market Research Report, Go with this Link - https://www.factmr.com/checkout/2396/S
About FactMR
FactMR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
Contact Us
FactMR
11140 Rockville Pike
Suite 400, Rockville, MD 20852
United States
Email: sales@factmr.com
Web: https://www.factmr.com/
Blog: https://factmrblog.com/
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Oil & Gas Pumps Market Research Report through 2018-2028 | Key Players are Xylem, GRUNDFOS, Weir Group, Flowserve Corporation, KSB SE & Co. KGaA, etc. here
News-ID: 1595856 • Views: …
More Releases from Fact.MR
U.S. Population Health Management (PHM) Solutions Market Set to Hit US$ 34.59 Bi …
The global market for population health management (PHM) solutions in the United States is expected to expand at a compound annual growth rate (CAGR) of 14.8% between 2021 and 2028, according to a recently released Fact.MR analysis. By the end of 2028, the market is projected to reach US$ 34.59 billion. Over the projected period, there is anticipated to be an increase in demand for U.S. Population Health Management (PHM)…
Bleaching Clay Market is Anticipated to Grow at a CAGR of 7.2% to Top US$ 1.86 B …
The bleaching clay market was valued at US$ 932.2 million in 2022. Moreover, growth is anticipated to pick up speed at a robust 7.2% CAGR during the evaluation period of 2022-2032, culminating in US$ 1.86 billion. Bleaching clay has been widely utilized for edible oil purification since the nineteenth century. Variations in the yield of oilseed crops are anticipated to positively affect the global market for bleaching clay since bleaching…
Automated Microscopy Market to Reach US$ 8.5 Billion by 2027, Grow at a CAGR of …
According to the most recent analysis conducted by market research and competitive intelligence company Fact.MR, the automated microscopy market is expected to be valued US$ 8.5 billion globally by 2027.
With the use of sophisticated monitoring techniques, automated microscopy is a contemporary technology that enhances the monitoring of biological material. In addition to reducing human error, automated microscopy offers accurate, automated magnification for topic examination and analysis. Because automated microscopy is…
Toy Drone Market Trends: CAGR of 8.6% Propels Growth to US$ 951.5 Million by 203 …
It is Anticipated That the Toy Drone Market Will Reach US$ 951.5 Million by 2033 At A CAGR of 8.6% | Fact.MR growing Children's Propensity for Playing with Drones for Recreation Will Support Market Expansion the global toy drone market is anticipated to reach US$ 417 million in 2023 and develop at a compound annual growth rate (CAGR) of 8.6% over the forecast period of 2023-2033, according to Fact.MR. Because…
More Releases for Oil
Transformer Oil Market, Transformer Oil Market Size, Transformer Oil Market Shar …
The Transformer Oil Market research report consists of a detailed study of the market and the market dynamics that are related to the same. The in-depth data on the development of the market is presented in the Research report. Not only this but also the detailed data on the performance of the market for the forecast period are presented in the Transformer Oil Market research report. The performance analysis is…
Apricot Oil, Apricot Kernel Oil Supplier, Co2 Apricot Oil Manufacturer
The seed inside every apricot contains thin oil, which is extracted from the kernel of the seed after eating the delectable fruit. Apricot oil is also known as apricot kernel oil. This oil has been the interest of many experts for research purposes due to its infinite health benefits. It has been found that the oil could cure some serious health conditions (like cancer). Apricot oil has a profound nutty…
Cooking Oil Market by Region - North America,Latin America,Europe,Japan,APEJ,MEA …
According to Fact.MR, the sales of cooking oils are expected to increase at a steady pace during the forecast period. The global cooking oil market is projected to expand at a value CAGR of 5.5% during the period of assessment (2017-2026). Also, Fact.MR analysis has revealed that the volume sales of cooking oils is estimated to surpass 250,000,000 tons by the end of the year of assessment (2026). Health advantages associated with…
Cooking Oil Market by Region - North America,Latin America,Europe,Japan,APEJ,MEA …
Since several years, cooking oil section in supermarkets and hypermarkets has been a crowded spot, where individuals keep choosing on several cooking oil options available that are healthy to consume. Cooking oil is an essential component in daily cooking activity, be it a restaurant or home. This, in combination with increasing population percentage, especially in emerging economies, is expected to fuel the consumption of cooking oils. However, aspects related to…
Specialty Fats and Oils Market (Product Type - Specialty Oils (Corn Oil, Sun Flo …
The global Specialty fats and Oils Market expected to reach a value of US$ 142.1 Bn by 2026. The market projected to grow at a CAGR of 6.6 % in terms of revenue during the forecast period from 2018 to 2026, according to a new research report by Transparency Market Research (TMR). The product manufactured may vary according to the end use application of processing by specialty fats and oils.…
Europe Mosquito Repellent Candles Market by Raw Material Type : Citronella Oil, …
Albany, New York, July 17, 2017 : Recent research and the current scenario as well as future market potential of "Mosquito Repellent Candles Market - Europe Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021" globally.
Mosquito repellent candles are having huge untapped potential for growth. In contrast to the other categories of mosquito repellent products that are available in the market such as mosquito creams, liquids, coils, and…
