Oil Refining Pumps Market |
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.
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.
11140 Rockville Pike
Rockville, MD 20852
Read Industrial News : https://theswisstimes.com/
This release was published on openPR.
Permanent link to this press release:
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: …
More Releases from Fact.MR
Halal Logistics Market Is Forecasted To Reach US$ 528.2 Billion By 2033
The global halal logistics market is poised for steady growth, with a projected compound annual growth rate (CAGR) of 5.1%. It is anticipated to surge from a valuation of US$ 321.2 billion in 2023 to US$ 528.2 billion by 2033. Notably, halal product storage commands a significant 60% share of the global market. Ensuring the proper sorting of halal products during warehousing is crucial to align upstream and downstream logistics with
Animal Feed Probiotics Market to Expand Exponentially, Expected Value Surpassing …
The animal feed probiotics market was estimated to be worth US$ 3.51 billion in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 6.6% to reach US$ 6.65 billion by the end of 2034. Probiotics are healthy microorganisms (yeast, bacteria, and fungus) that provide a host of health benefits to their users. Probiotics strengthen the immune system against a range of illnesses and improve the performance
Kosher Beef Market Is Likely To Reach A Value Of US$ 114 Billion By 2032
In 2021, the market for kosher beef reached a value of US$ 66.65 billion, projected to rise to US$ 70 billion in 2022. Over the forecast period from 2022 to 2032, the kosher beef market is anticipated to grow at a compound annual growth rate (CAGR) of 5%, reaching a total market value of US$ 114 billion. Despite facing a decline due to the COVID-19 pandemic, the kosher beef market showed
3D Scanner Market Is Expected To Surpass A CAGR Of 15.06% By 2032
In 2021, the global 3D scanner market achieved a market value of US$ 1.23 billion. Projections indicate a robust compound annual growth rate (CAGR) exceeding 15% during the assessment period from 2022 to 2032, culminating in a market value of US$ 5 billion. The surge in demand for 3D scanners is driven by several factors. Primarily, there is a heightened emphasis on enhancing manufacturing efficiency, coupled with a widespread adoption of
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