Press release
How far is the Global Demand Expected to Reach Over the Forecasted Period
Oil and Gas Pumps Market
By 2022, the market for industrial pumps worldwide will consist of around 11% of oil and gas pumps. The global market for oil and gas pumps is anticipated to have an absolute dollar potential of USD 4,100 million during the evaluation period of 2022-2032.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ:
https://www.factmr.com/connectus/sample?flag=S&rep_id=2435
Geographical Insights
The Middle East and Africa (MEA), which is expected to maintain its dominance in the industry and account for 32.7% of the overall market share, is the most lucrative market for oil and gas pumps. The need for oil and gas pumps in Saudi Arabia, the United Arab Emirates, and Qatar is anticipated to rise at a compound annual growth rate (CAGR) of 3.9% between 2022 and 2032 due to the Middle East's profusion of oil and gas companies. Furthermore, due to investments made in the oil and gas sector in regions that generate a lot of crude oil, market increase is predicted in the upcoming years.
Category-Specific Analysis
Centrifugal pumps are widely used in many different applications and are often selected for processes that call for low viscosity and high flow rates. The segment holds a 35.1% market share in the oil and gas pump industry. The demand is expected to expand by 1.7X because of its increased use in multi-phase pumping applications and the upstream portion. Additionally, it's predicted that in the upcoming years, investments made by rising economies in the oil and gas sector would increase market demand by 23%.
Due to rising demand from various businesses, there is anticipated to be a considerable increase in the onshore use of gas and oil pumps in the approaching years. The current 56.1% market share of this segment is anticipated to increase due to the expansion of new oil and gas projects in the transportation sector in a number of countries, especially in the Asia-Pacific area.
๐๐๐๐ ๐๐จ๐ซ๐: https://www.factmr.com/report/2435/oil-gas-pumps-market
Competitive Landscape
Due to the presence of several local and regional competitors, the worldwide market for oil and gas pumps is extremely competitive and fragmented. Key players use a range of marketing techniques, including partnerships, expansions, mergers & acquisitions, and collaborations.
Leading organizations also use new product creation as a strategic technique to improve their market position among consumers. Modern oil and gas pumps have been incorporated as a result of these tactics.
True.In the recently released research, MR has offered comprehensive details regarding the price points of leading producers of oil and gas pumps, their regional market positioning, sales growth, production capacity, and their speculative technical advancement.
For instance:
In 2020, Alfa Laval was awarded a supply contract to provide Framo with marine pumping systems for seawater and firewater lift service, which are used for operations outside of Brazil, for two Floating Production, Storage, and Offloading (FPSO) vessels.
A national oil corporation in the United Arab Emirates awarded Weir Oil & Gas Dubai a three-year contract in 2020 for the repair and maintenance of motors and pumps.
Key Companies Profiled
oil sandsXylem
GRUNDFOS
Weir Group
Flowserve Corporation
KSB SE & Co. KGaA
Sulzer Ltd.
Nikkiso
Trillium Flow Technologies
Halliburton
Baker Hughes Company
Groman-Rupp EBARA Corporation
Tsurumi Manufacturing Co. Ltd.
Gemmecotti
Global Oil & gas pumps Market by Category
By Product Type :
Centrifugal Pumps
Single Stage
Multi-Stage
Axial and Mixed
Submersible
Seal less and Circular
Reciprocating Pumps
Piston
Plunger
Diaphragm
Rotary Pumps
Gear
Vane
Screw
Lobe
Progressive Cavity Pumps
Piston
Peristaltic
By Capacity :
Small (Up to 500 gpm)
Medium (500-1,000 gpm)
High (More than 1,000 gpm)
By Pump Characteristics :
Engineered Pumps
Standard Pumps
Special Purpose Pumps
By Deployment Type :
Onshore
Offshore
By Region :
North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA
๐๐๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง ๐จ๐ง ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ซ ๐๐ฉ๐๐๐ข๐๐ข๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง๐ฌ:
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