Mud Pumps Market Current and Future Trends, Leading Players, Industry Segments and Regional Forecast By 2031 | Says FMI Analyst

As per Future Market Insights (FMI) analysis, the mud pumps market sales will total US$ 872.2 Mn in 2021. The demand outlook remains fairly positive as the market is forecast to register a 3.4% CAGR between 2021 and 2031

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Despite challenges posed by the COVID-19 outbreak, the mud pumps market registered 1.0% year-on-year growth between 2020 and 2021. Dynamic pricing trends adopted by original equipment manufacturers (OEMs) will create attractive prospects for the growth of the market in the coming years.

In its latest report, Future Market Insights estimates the global mud pumps market to surpass US$ 1.18 Bn by 2031, on the back of broader developments in the oil & gas sector. The market will also be influenced by mushrooming of mid-sized companies, especially in North America.

For instance, EOG resources, a US company headquartered in Houston, has been extensively dabbling in the exploration of shale gas reserves. Its success was evidenced by an astounding 92% sales in Q3 of 2018 that too in a relatively low-price environment. The company has also been deploying its drilling rigs and mud pump systems adding to its overall value.

Key Takeaways from Mud Pumps Market Study
• How much is the Mud Pumps Market Worth?
• At What Rate did the Mud Pumps Market Grow in the Last Five Years?
• What is the Market Share of Top 5 Players in Mud Pumps Market?
• Which Countries are Key Exporters of Mud Pumps?
• What is the North America Mud Pumps Outlook?
• At What Percentage will the Mud Pumps Market Grow in Europe?
• Which Countries are Key Producers of Mud Pumps?
• What is Driving Demand for Mud Pumps Market?
• What are the Key Trends of Mud Pumps?
• What are the Key Statistics for Mud Pumps Market in Japan and South Korea?

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Mud Pumps Market Competitive Landscape

A common pitfall observed in older mud pumps designs is the absolute lack of correct piping size and structural necessities to handle pressures up to 7500 psi that is foreseen for drilling rigs in the year 2021 and beyond.
Significant shortcomings observed in older designs include decreased performance, safety, and reduced overall efficiency. Thus older systems need to undergo extensive modification to meet the drilling challenges of horizontal and directional drilling plans. Here is our take on how prevailing mud systems can be greatly modified and optimized to obviate key performance and efficiency challenges
• Placing Individual Supply lines – In conventional rigs, single supply lines usually exist for two different mud pumps. This often leads to less fluid inflow to the second pump. This paves the way for higher flow requirements for the secondary pump. The solution to this is to feed each mud pump with an individual fluid supply line to reduce cavitation. Flow problems can often lead to significant wear and tear of the mud pump, causing unnecessary repairs and significant downtime
• Diameter changes to supply pipes - Piping design fluctuations cause a host of problems such as insufficient piping size leading to mud pumps being unable to handle GPMs without cavitation. This problem can be obviated through a supply line pipe that is a couple of times larger than the connection existing at the pump’s suction. Efforts should also be made to keep supply line pipes short

Some of the prominent players operating in the Mud Pumps Market profiled by FMI are:

• National Oilwell Varco, Inc.,
• Schlumberger Limited,
• Gardener Denver Inc.,
• Weatherford international Plc,
• CNPC Baoji.
• Oilfield Machinery Co., Ltd and
• Flowserve Corporation

More Insights on the Global Mud Pumps Market Outlook
FMI provides an unbiased analysis of the Mud Pumps Market, presenting historical demand data (2021-2031) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for the Mud Pumps market with a detailed segmentation based on:

Product Type:

• Duplex
• Triplex
• Quintuplex

Driven System:

• Electric
• Fuel Engine

Application:

• Onshore
• Offshore

Region:

• North America
• Latin America
• Europe
• South Asia & Pacific
• East Asia
• Middle East & Africa

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Key Questions Answered in the Report
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• What is the land survey equipment market demand outlook?
• What are the key trends prevailing in the land survey equipment market?
• What is the North America land survey equipment market outlook?
• What is the cumulative share of the top five companies in the land survey equipment market?
• At what rate will the land survey equipment market growth in Europe?
• Which are the top 5 countries exhibiting high demand for land survey equipment?
• At what rate will the Japan land survey equipment market grow?

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