openPR Logo
Press release

Oil Refining Pumps Market |

04-29-2019 12:51 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fact.MR

/ PR Agency: Fact.MR
Oil Refining Pumps Market

Oil Refining Pumps Market

The global demand for oil refining pumps is expected to surpass 3 million tons by 2018 end, according to a latest Fact.MR report on oil refining pumps market. Rising oil and gas production, and increase in petroleum-based power generation are driving oil refining pumps demand. The oil supply has sharply increased from Russia, Middle East, and the US, compensating for fall in oil production in Iran and Venezuela.

The demand for centrifugal pumps is constantly rising in upstream oil and gas industry in multiphase or tri-phase pumping application. With the increasing demand for oil, especially in developing regions, transporting a large amount of liquid has become necessary to ensure operational efficiency. This is driving the demand for centrifugal pumps to transport a significant amount of liquid in a short period.

Request Sample Report @ https://www.factmr.com/connectus/sample?flag=S&rep_id=2434 

APAC to Continue Strong Position in Oil Refining Pumps Market

The Fact.MR study projects that APAC continues to register significant growth in the oil refining pumps market and is likely to account for over 40% of total demand by 2018 end. The positive outlook in the region can be attributed to the growing demand for diesel and gasoline in emerging nations like India and China.

The upgradation of existing oil refineries and robust investment in the construction of new oil refineries is fueling the growth in the oil refining pumps market in the region. Rising oil demand and faced with strict emission regulations, India is also moving towards development of new and modern refineries.

According to the International Energy Agency (IEA’s) latest World Outlook Projection, India’s refining capacity is likely to grow by two-thirds in the next 25 years. This is expected to make India world’s third largest refining center by 2040, following the US and China.

Browse Full Report @ https://www.factmr.com/report/2434/oil-refining-pumps-market 

Major oil companies in Southeast Asia are also investing in increasing their refining capacity. Malaysia, Indonesia, Vietnam, and Thailand are likely to see growth in new refining capacity in the coming years. The development of new and advanced oil refineries in APAC is expected to create growth opportunities for oil refining pumps manufacturers.

Energy Transition Emerging as Serious Challenge for Oil Companies and Oil Exporting Countries

Global oil companies and oil exporting countries are likely to face a challenge with the rise in energy transition. The biggest challenge for oil companies make changes in their business model and integrating low-carbon assets in their portfolios. With the growing trend of renewable energy sources, oil exporting countries with good reserves-to-production ration are facing the risk of loss in export revenues and monetizing their large reserve base.

Penetration of renewables has increased in Europe to meet the energy demand, resulting in reduced oil demand. Moreover, regulation by national governments and European Union is likely to further reduce refined oil demand in the region. Oil refineries in Europe are unable to find buyers, resulting in constant drop in profit margins. Inability to find buyers and drop in profit margins is forcing oil refinery operators to shut down the plants.

You can Buy This Report from Here @ https://www.factmr.com/checkout/2434/S 

More refinery plants shutdown expected in the coming years in Europe is likely to impact the oil refining pumps market in the region. Moreover, key oil companies across various regions are also planning to invest more in low-carbon energy sources with aim to reduce carbon footprints.

The Fact.MR report tracks the oil refining pumps market for the period 2018-2028. According to the report, the oil refining pumps market is expected to reach 2.9% CAGR during 2018-2028.

About Fact.MR

Fact.MR 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: www.factmr.com/

Read Industrial News : https://theswisstimes.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 Refining Pumps Market | here

News-ID: 1721938 • Views: 989

More Releases from Fact.MR

Global Niobium Hydride Market Is Forecast To Grow To US$ 67 Million By 2032
The global niobium hydride market reached a valuation of US$ 38 million at the end of 2021 and is forecast to grow to US$ 67 million by 2032, expanding at a high CAGR of 5.4%. Stronger downstream demand, rising consumer spending, and increased business investments are likely to benefit niobium hydride suppliers. Despite an economic slowdown, the global hydrogen industry is poised to witness significant growth over the coming years. Ramped-up production
Surging Sales of Cost-Effective UAVs Positively Driving Anti-Drone Market, Revea …
As per the latest market analysis by Fact.MR, a market research and competitive intelligence provider, the global anti-drone market is expected to reach a valuation of US$ 7.4 billion by the end of 2032 while expanding at an impressive CAGR of 20.9% over the assessment period. Drone neutralization equipment promises notable growth and a dynamic shift in the anti-drone market. Moreover, the emergence of cost-effective and open-source UAVs with new advanced
Integration of Smart Sensors to Support Vacuum Pump Market Growth in United Stat …
The United States vacuum pump market is estimated at US$ 1.8 billion in 2022, and is predicted to register impressive growth at 6.6% CAGR through 2032. The market registered yearly growth at 4.7% during 2017-2021, as per detailed analysis by Fact.MR, a market research and competitive intelligence provider. Manufacturers of vacuum pumps are launching systems with smart sensors that allow for the recording and saving of operating data. These kinds of innovations are
Epilator Consumption Across The World Is Anticipated To Increase At A CAGR Of 5. …
The global epilators market stands at US$ 406.8 million in 2022 and is estimated to reach a market valuation of US$ 695 million by the end of 2032. Worldwide consumption of epilators is predicted to increase at a CAGR of 5.5% between 2022 and 2032. As aesthetic awareness among people increases, it is expected to drive demand for hair removal devices, since having smooth hairless skin is aseptically pleasing as per

All 5 Releases