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Oil And Gas Pumps Global Market Report 2024 by The Business Research Company | KSB SE & Co. KGaA, Flowserve Corporation, Sulzer Ltd., Xylem Inc., Alfa Laval AB, Sigmund Pulsometer Pumps, ITT Inc., Kirloskar Brother Ltd., Hydromashservice, Nikkiso Co Ltd.,
Oil And Gas Pumps Market Trends And Strategies
The oil and gas pumps market size is expected to see strong growth in the next few years. It will grow to $18.3 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to integration of iot and automation in pumping systems, demand for environmentally-friendly and low-emission pumping solutions, research and development in high-pressure and high-temperature pumping, expansion of natural gas processing and lng facilities, emphasis on pumping solutions for carbon capture and storage (ccs). Major trends in the forecast period include digital twin and predictive maintenance, high-pressure and high-temperature pumps, subsea pumping solutions, progressing cavity pumps for heavy crude oil, hydraulic fracturing pumping equipment, pumping solutions for enhanced oil recovery (eor).
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Oil And Gas Pumps Market Major Segments
The oil and gas pumps market covered in this report is segmented -
1) By Type: Centrifugal, Positive Displacement, Cryogenic
2) By Capacity: Small (up to 500 gpm), Medium (500-1000 gpm), High (more than 1000 gpm)
3) By Application: Upstream, Midstream, Downstream
Key Driver - Oil And Gas Pipeline Expansion Driving Growth In The Oil And Gas Pumps Market
The development of oil and gas pipeline infrastructure contributed to the growth of the oil and gas pumps market. Oil and gas pipelines are used for transporting crude oil or natural gas liquids. Pumps or compressors are used for moving the oil or gas through the pipeline at a safe speed. According to the India Brand Equity Foundation, the government of India is planning to invest $9.9 billion in expanding the gas pipeline network across the country. According to Invest India, about 12,672 km of gas pipelines are under development. Therefore, the development of oil and gas pipeline infrastructure is expected to drive the market for oil and gas pumps during the forecast period.
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Prominent Trend - Rising Significance Of IOT In Oil And Gas Refineries Enhances Oil And Gas Pumps Efficiency
Internet of Things (IoT) in oil and gas refineries is an emerging trend in the oil and gas pumps market. IoT is used to monitor pipe thickness, flow rate, pipe pressure, and more. IoT enables to have connected machines in the oil and gas industry so that oil and gas companies can predict equipment failure and reduce overall downtime. For example, a single pump failure can cost hundreds of thousands of dollars in lost productivity, so if the condition of pumps is known in real-time, replacements can be ready for those deemed susceptible to failure. Therefore, IoT plays an important role in the oil and gas pumps market.
Oil And Gas Pumps Market Players
Major companies operating in the oil and gas pumps market include KSB SE & Co. KGaA, Flowserve Corporation, Sulzer Ltd., Xylem Inc., Alfa Laval AB, Sigmund Pulsometer Pumps, ITT Inc., Kirloskar Brother Ltd., Hydromashservice, Nikkiso Co Ltd., Trillium Flow Technologies, EBARA Corporation, Gemmecotti Srl, PCM SA, Ruhrpumpen Global, EDUR-Pumpenfabrik Eduard Redlien GmbH & Co. KG, Wastecorp pumps Inc., NETZSCH Pumps & Systems, Framo AS, Svenska Kullagerfabriken, Leonberger Wasseraufbereitung, Digital Experience Platform, National Pump & Energy, Enpro Subsea Ltd., Weir Group Plc, Grundfos Pumps Pty Ltd., Baker Hughes a GE company LLC, Halliburton Company, Schlumberger NV, Weatherford International plc, Dover Corporation
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the oil and gas pumps market in 2023. This region is also expected to be the fastest growing region in the forecast period. The regions covered in the oil and gas pumps market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Oil And Gas Pumps Market Report Structure
3. Oil And Gas Pumps Market Trends And Strategies
4. Oil And Gas Pumps Market - Macro Economic Scenario
5. Oil And Gas Pumps Market Size And Growth
…..
27. Oil And Gas Pumps Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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