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High-Pressure Pumps Market: Industry Growth, Size, Share, Demand and Forecast to 2024 | Top Key Players are ANDRITZ, GEA Group, The Weir Group PLC, Maximator GmbH, Sulzer, GRUNDFOS

02-27-2019 12:53 PM CET | Energy & Environment

Press release from: High-Pressure Pumps Market-P&S Intelligence

High-Pressure Pumps Market: Industry Growth, Size, Share,

Shift of exploration projects from conventional oil and gas to shale oil and gas across several regions in the world, involving hydraulic fracking process, which needs a large volume of water to extract oil and gas from shale well. In order to inject water with high pressure into shale well, exploration and production (E&P) companies require high-pressure pumps. This is identified as a key trend impacting the global high-pressure pumps market. In recent years, several U.S. oil and gas companies are making huge investments in shale gas E&P activities.

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For instance, in February 2019, Exxon Mobil Corporation and Qatar Petroleum announced a $10 billion investment to explore and export natural gas from Texas and New Mexico shale fields. In addition, China is also planning to intensify its E&P activities for shale oil and gas due to its abundant shale reserves, which is expected to reduce the import of oil and gas. Developments such as these are expected to transform the high-pressure pumps market in the long-run.

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High-pressure pumps are designed to generate high pressure to either compress or create flow for fluids. The selection of pumps depends on type and volatility of liquid to be pumped, and available space at installation site. Moreover, these pumps are used to supply viscous fluids at high pressure and flow rates. Additionally, these pumps are extensively used in oil and gas, power generation, pharmaceuticals, and manufacturing industries. The high-pressure pumps market is segmented on the basis of type, pressure, industry, and geography.

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On the basis of pressure, the high-pressure pumps market is classified into 30–100 bar, 101–500 bar, and above 500 bar. Among these, 30–100 bar pumps accounted for a significant share in the market during the historical period, due to increased use of these pumps in various applications. Manufacturers are using a series of these pumps to generate high pressure, owing to their low-space requirement, low cost, and easy installation and maintenance.

As per the Global Status of CCS, released in December 2018, 43 large-scale CCS facilities are in operation or under construction and development around the world. Moreover, several countries are expected to invest in CCS projects in recent future. This indicates future potential for adoption of high-pressure pumps and is expected to propel their demand during the forecast period.

About P&S Intelligence:

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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