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Oil & Gas Pumps Market worth $22.65 billion by 2030, growing at a CAGR of 8.99% - Exclusive Report by 360iResearch
Oil & Gas Pumps Market | 360iResearch
The Global Oil & Gas Pumps Market to grow from USD 12.39 billion in 2023 to USD 22.65 billion by 2030, at a CAGR of 8.99%.
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Oil and gas pumps are a crucial component in the petroleum industry, serving as the mechanical devices responsible for moving various types of fluids, including natural gas, crude oil, and their derivatives, through pipelines, refining processes, and storage facilities. These pumps are designed to handle the high pressure, temperature variances, and corrosive nature of the fluids encountered in the extraction, transportation, refining, and distribution stages of oil and gas operations. Increased investments in the oil & gas industry's upstream sector, expansion of refineries, and rising demand for petroleum products are significant drivers for the growth of oil and gas pumps. Furthermore, the shift towards renewable energy sources has compelled the industry to improve the operational efficiency of pumps, thereby spurring innovation and growth. However, limitations associated with decreased flow rates, reduced head pressures, and increased power consumption impede the widespread adoption of oil and gas pumps. Additionally, cases of product recalls caused by failures of components of oil and gas pumps further raise concerns about the reliability and safety of the pumps. To circumvent technical challenges and failures of oil and gas pumps, key players are exploring advancements in smart and automated pump technologies that enable predictive maintenance, increased operational efficiency, and minimized downtime. Additionally, the integration of IoT in pump systems for better monitoring and data analysis offers significant opportunities for growth.
The Americas region, particularly the US and Canada, is involved in product innovations for oil and gas pumps due to the presence of a robust technological sector. Additionally, the production and exploration activities drive the demand for robust pumping systems for extraction purposes. Modernization and expansion of pipeline infrastructure contribute to the rising need for oil and gas pumps within the region. Sustainability considerations and regulations pertaining to energy efficiency in the oil and gas industry have driven innovations in the European Union and led to highly energy-efficient oil and gas pumps. Furthermore, dependency on gas imports and the need for secure energy supplies are propelling the demand for gas pumps for storage and distribution. The presence of a robust and advanced oil and gas sector in the Middle East sectors drives demand for advanced oil and gas pumps. APAC region serves as a crucial manufacturing hub for oil and gas pumps due to the presence of a cost-effective labor force and expansive manufacturing facilities. A trend toward local production and supply chain enhancement is fostering the creation and growth of regional pump manufacturing capabilities.
Market Segmentation & Coverage:
This research report categorizes the Oil & Gas Pumps Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Type, market is studied across Non-Submersible Pumps and Submersible Pumps. The Submersible Pumps is projected to witness significant market share during forecast period.
Based on Pump, market is studied across Centrifugal Pump, Cryogenic Pump, and Positive Displacement Pump. The Positive Displacement Pump is further studied across Progressive Cavity Pump, Reciprocating Pump, Rotary & Gear pump, and Screw Pump. The Reciprocating Pump is further studied across Diaphragm Pump, Multi-Plunger Pump, and Piston Pump. The Centrifugal Pump is projected to witness significant market share during forecast period.
Based on Category, market is studied across Dynamic and Positive Displacement. The Dynamic is projected to witness significant market share during forecast period.
Based on Application, market is studied across Downstream, Midstream, and Upstream. The Downstream is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 42.29% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Oil & Gas Pumps Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Oil & Gas Pumps Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Oil & Gas Pumps Market, highlighting leading vendors and their innovative profiles. These include ALFA LAVAL Corporate AB, Baker Hughes Company, Debem Srl, EBARA CORPORATION, Elliott Company, Flowserve Corporation, Gemmecotti Srl, Halliburton Energy Services, Inc., HYDROMASHSERVICE by HMS Group, Ingersoll Rand Inc., ITT Goulds Pumps, JEE Pumps, KSB SE & Co. KGaA, Nikkiso Co., Ltd., Rodelta Pumps International, Roto Pumps Ltd., Ruhrpumpen, Inc., Schmitt Kreiselpumpen GmbH & Co. KG, Sulzer Management Ltd., The Gorman-Rupp Company, Trillium Flow Technologies, and Xylem Inc..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Oil & Gas Pumps Market, by Type
7. Oil & Gas Pumps Market, by Pump
8. Oil & Gas Pumps Market, by Category
9. Oil & Gas Pumps Market, by Application
10. Americas Oil & Gas Pumps Market
11. Asia-Pacific Oil & Gas Pumps Market
12. Europe, Middle East & Africa Oil & Gas Pumps Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Oil & Gas Pumps Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Oil & Gas Pumps Market?
3. What is the competitive strategic window for opportunities in the Oil & Gas Pumps Market?
4. What are the technology trends and regulatory frameworks in the Oil & Gas Pumps Market?
5. What is the market share of the leading vendors in the Oil & Gas Pumps Market?
6. What modes and strategic moves are considered suitable for entering the Oil & Gas Pumps Market?
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