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Oil & Gas Pumps Market to Grow With 6.4% CAGR And Expected to Cross 10.80 billion in Size | Professional Analysis by Share, Recent Industry Developments, Companies Overview and Forecast by 2029
Based on previous market performance, the Oil & Gas Pumps market is expected to reach USD 10.80 billion in size by 2028. With a 6.4% CAGR.Oil & Gas Pumps Market Overview:
Pumps play a critical role in the oil and gas industry. They're utilized to replace oil in a variety of places, including oil drilling rigs and refineries. Injection tasks, chemical transfers, fuel transfers, and steam stripping are all done with them. Pumps that have been specifically engineered for the oil and gas industry are essential.
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The need for modernization, refurbishment, and up-gradation of the pumping infrastructure in the oil and gas industry is the key market driver for the worldwide oil and gas pumps market. The use of automation and IoT-based pumping systems improves efficiency and benefits investors. Increased demand for oil and gas in countries, as well as expansion in downstream operations and cost-effective shale gas extraction, are likely to positively impact the pumps industry.
Based on our expert's analysis the players that are leading the market includes: alfa laval, flowserve, ksb, sulzer, weir group, grundfos, hms, gardner denver, xylem and nikkiso. and Others.
The whole market is segmented as follows:
Oil & Gas Pumps Market by Type, 2019-2028, (In USD Million)
Submersible
Non- Submersible
Oil & Gas Pumps Market by Application, 2019-2028, (In USD Million)
Upstream
Midstream
Downstream
Industry Developments:
Enpro Subsea and DASS Can-K Pumps inked a memorandum of understanding (MoU) in 2019 to combine their expertise in providing multiphase pumping systems for topside and subsea well boosting.
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Oil & Gas Pumps Market' s top organizations are operating in a dynamic set-up, wherein they are required to incorporate unprecedented advances to reap benefits from the latest and upcoming information technologies and industry trends.
Regional Analysis:
This report is segmented into several key Regions, with production, consumption, revenue and market share and growth rate of Oil & Gas Pumps Market. These regions, from 2022 To 2029, covering North America, Europe, China, Japan, Southeast Asia, India, North America (USA, Canada and Mexico) Europe (Germany, France, UK, Russia and Italy) Asia-Pacific (China, Japan, Korea, India and Southeast Asia) and ROW.
Our Market Intelligence reports give our clients the information they need to maintain a competitive edge in the marketplace. Competitor Analysis and Profiling studies delve further into a company's competitive strengths and shortcomings. Market assessments conducted by SIS reveal market opportunities, size, and viability.
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