What Future Holds for Mud Pumps Market | Top Players to be Benefited: Schlumberger Limited, Gardner Denver Inc., Mhwirth Inc., Trevi-Finanziaria Industriale S.p.A.
Sensing the diverse end-user requirements, manufacturers of mud pumps are offering products in varying configurations on the basis of requirements as well as ratings of drilling rigs. Manufacturers are vying to offer value-added services for repair and maintenance, which remains a key enabler of long-term customer retention. Some of the leading players in the mud pumps market include MHWirthTrevi Group (Drillmec), Weatherford International plc, Schlumberger Limited (Cameron International), Gardner Denver, CNPC Baoji Oilfield Machinery Co., Ltd, Bentec GmbH Drilling & Oilfield Systems, Flowserve Corporation, and several others.
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As per the FMI study, triplex mud pumps (with three pistons) remain the most commonly used type, on account of wide-spread applications in multiple verticals. One of the primary advantages of triplex mud pumps over other types is their ability to move large volumes at high pressures, which is a key reason boosting their adoption in challenging applications, such as deep hole drilling. As per the FMI estimation, triplex mud pumps will hold more than 74% share of the overall $ opportunity in the global mud pumps market by 2026 end. Triplex mud pumps will outsell other variants in the mud pumps market and this status quo is likely to remain unaltered over the forecast period, unveils the report.
Electric Pumps to Gain Preference
Electric mud pumps will continue to be highly-favored by end-users over the fuel engine driven variants, finds the research study. Buoyancy of electric mud pumps can be attributed to their performance excellence and wide-spread recognition for their easy operations, reasonable costs, and unique designs. On account of their unparalleled features and usage characteristics, electric mud pumps find extensive use in power stations, mines, and oil & gas industry. In addition, electric mud pumps are also estimated to witness decent sales over the forecast timeline, by virtue of low mechanical vibrations, augmented reliability, and upgraded efficiency.
Mud Pumps Market Reports - Table of Contents
1. Executive Summary
1.1. Market Overview
1.2. Market Value and Volume Analysis
1.3. Market Analysis by Segments
1.4. Analysis and Recommendations
1.5. Wheel of Fortune
2. Market Introduction
2.1. Market Taxonomy
2.2. Market Definition
2.3. Comparison Matrix
3. Mud Pumps Market Background
3.1. Macro-Economic Factors
3.1.1. Global Oilfield Drilling Rig Count Overview
3.1.2. Global Wells Drilled for Hydrocarbon Exploration Overview
3.1.3. World Oil Production Overview
3.1.4. World Natural Gas Production Overview
3.1.5. World Oil & Gas Consumption Outlook
3.2. List of Key Oil & Gas Projects
3.3. Global Economic Outlook
3.3.1. Global GDP by Region, 2015-2026
3.4. Market Dynamics
3.5. Porter’s Five Force Analysis
3.6. Forecast Factors: Relevance and Impact
3.7. Value Chain Analysis
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Maximum Adoption Anticipated in Oil and Gas Industry
Among onshore and offshore drilling rigs in the Oil and Gas Industry, onshore drilling will register high demand for mud pumps. According to the research study on mud pumps market, the onshore segment is likely to retain its hegemony and account for an absolute $ opportunity of more than US$ 280 Mn during the forecast period. Owing to high cost-effectiveness, end-users are transferring multi-phased projects to onshore drilling and are actively moving away from the offshore one. In addition, high production remains another key aspect enhancing visibility of onshore drilling over offshore.
According to the FMI analysis, North America will continue to be highly lucrative for the manufacturers of mud pumps, with the US and Canada spearheading demand. In addition, promising resurgence of drilling procedures for ramping up the production volumes of oil and gasis also likely to create favorable grounds for growth of mud pumps market.China, owing to rising production of oil & gas, is foreseen to create sustained opportunities for the manufacturers of mud pumps market. Leading countries in the Middle East and Africa (MEA) region, on account of heavy reliance on an oil-led economy, will emerge as profitable regions for the key stakeholders in the mud pumps market.
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