Press release
Oil Refining Pumps Market Expected to Reach USD 8.6 Billion by 2032
The global oil refining pumps market was valued at USD 6.2 billion in 2022 and is projected to exceed USD 8.6 billion by 2032, growing at a compound annual growth rate (CAGR) of 3.3% from 2022 to 2032.Refinement pump installations are increasing at a never-before-seen rate in a variety of industry sectors, including mining, power production, oil and gas, and many more. Growing industrialization in emerging economies is creating a good sales environment for refining pumps and assisting industry participants in exploring new avenues for large profit margins. The search for superior pumping technologies with the best possible performance characteristics is also thought to present lucrative potential for refining pump manufacturers.
When it comes to the equipment involved, leading industries set the strictest requirements and criteria. Refining pump manufacturers are creating solutions that meet end-user needs by combining cutting-edge engineering and innovative technology. The fabrication of refining pumps is increasingly utilizing ductile materials due to the fact that some of the fluids they handle are extremely volatile or combustible. Refining pumps with explosion-proof motors is anticipated to present lucrative chances for market participants and ensure safe operations in harsh locations.
Get Free Sample Copy of This Report-https://www.factmr.com/connectus/sample?flag=S&rep_id=2434
Refining pumps with sensor integration make it easy to gather data focused on operations, which can then be used to monitor and improve current performance. Large-scale sensor integration in refining pumps is becoming increasingly possible due to the growing demand for internet-enabled operations. Moreover, effective failure detection is made possible by sensor-integrated mining pumps, which is essential for maintaining the status quo for refining pumps. The introduction of the internet of things (IoT) is probably going to lead to a high degree of product variety, with the goal of making products more operationally efficient.
List of Key Companies Profiled in The Report
Xylem
Flowserve Corporation
KSB SE & Co. KGaA
Weir Group
Sulzer Ltd.
GRUNDFOS
Gardner Denver
ITT, Inc.
March Pump
TechnipFMC
SPX Flow, Inc.
Alfa Laval
Others
Increasing Oil Demand Fuels Market Expansion
Rising oil demand is driving significant growth in the oil refining pumps market. According to the International Energy Agency's (IEA) Oil Market Report, oil demand is projected to increase by more than 110 million barrels per day (b/d) in 2022. This surge is primarily due to rising power demand and substantial reliance on oil in developing economies, prompting the development of new oil refineries and, consequently, boosting the sales of oil refining pumps. Additionally, the Organization of the Petroleum Exporting Countries (OPEC) forecasts that the demand for OPEC crude oil will increase by over 40 million b/d by 2040, further fueling energy demand. OPEC member countries are committed to expanding oil refineries and constructing new pipelines and terminals to meet this rising demand. Regions such as Latin America, the Middle East & Africa, and Asia-Pacific are expected to see significant refinery additions in the coming years, estimated to double the demand for oil refining pumps. The energy demand in developing Asian markets is projected to grow at an average rate of 1.9% per annum from 2015 to 2040, driven by a rising population.
The increasing need for more concentrated fuel blends and the growth in natural gas liquid and crude oil production in the United States are spurring investments in oil and gas infrastructure. European countries like Germany, Italy, and Spain, with their high refining capacities, continue to be key players in the crude oil refining industry. As global demand for crude oil rises, additional investments in oil refineries are becoming essential, providing a gain of 235 basis points (BPS) during the forecast period of 2022-2032. This trend underscores the critical role of oil refining pumps in meeting future energy needs and supporting the expansion of refining capacities worldwide.
Want Full Report? Enquire Here-https://www.factmr.com/report/2434/oil-refining-pumps-market
Competitive Landscape
The global oil refining pumps market is characterized by high fragmentation and intense competition, with numerous domestic and regional players vying for market share. Key industry players employ various marketing strategies such as mergers and acquisitions, expansions, collaborations, and partnerships to enhance their market presence. Additionally, leading companies focus on new product development to introduce advanced oil refining pumps, thereby strengthening their position among consumers.
Fact.MR's recent report offers comprehensive insights into the price points of top oil refining pump manufacturers across different regions, as well as their sales growth, production capacity, and anticipated technological advancements.
For example:
In 2020, Weir Group secured a three-year contract from a national oil company in the UAE to repair and service motors and pumps.
Alfa Laval, also in 2020, won a supply contract to provide Framo pumping systems for two Floating Production Storage and Offloading (FPSO) vessels. These systems, designed for seawater and firewater lift service, will operate off the coast of Brazil.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232
Email: sales@factmr.com
About Fact.MR:
Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range - from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Oil Refining Pumps Market Expected to Reach USD 8.6 Billion by 2032 here
News-ID: 3581852 • Views: …
More Releases from Fact.MR

Triple Negative Breast Cancer Treatment Market is Growing at a CAGR of 4.6% by 2 …
Fact.MR today unveiled its latest report on the Triple Negative Breast Cancer Treatment Market, projecting steady yet impactful growth amid rising global breast cancer incidences and a push for innovative therapies targeting this aggressive subtype. Valued at USD 670.5 million in 2024, the global market is forecasted to expand at a compound annual growth rate (CAGR) of 4.6%, reaching USD 1.04 billion by 2034. This expansion underscores the urgent need…

Pulmonary Fibrosis Treatment Market: U.S. to Grow to US$ 4.06 Billion by 2034, L …
The global pulmonary fibrosis treatment market is poised for steady expansion, with its valuation projected to grow from USD 3,210 million in 2025 to USD 5,890 million by 2035. This growth reflects a compound annual growth rate (CAGR) of 6.2% over the forecast period from 2025 to 2035. The surge is primarily driven by the increasing prevalence of idiopathic pulmonary fibrosis (IPF), rising awareness of early diagnosis, and advancements in…

Spices and Seasonings Market is Projected to Reach USD 23.6 Billion by 2035 | Mc …
The global spices and seasonings market is set for significant growth, projected to expand from USD 14.5 billion in 2025 to USD 23.6 billion by 2035, achieving an absolute increase of USD 8.3 billion and a 57.2% overall growth. This trajectory reflects a compound annual growth rate (CAGR) of 5.0% over the forecast period from 2025 to 2035, representing a 1.57X market size increase. The expansion is driven by rising…

Accounting Services Market: U.S. to Grow to US$ 640.73 Billion by 2034 at 10.3% …
The global accounting services market is positioned for substantial growth, with its valuation projected to increase from USD 650 billion in 2025 to USD 1,250 billion by 2035. This expansion reflects a compound annual growth rate (CAGR) of 6.7% over the forecast period from 2025 to 2035.
The market's surge is driven by the increasing complexity of financial regulations, the digital transformation of businesses, and the rising demand for outsourced…
More Releases for Refining
Global Precious Metal Recovery And Refining Market Size by Application, Type, an …
USA, New Jersey- According to Market Research Intellect, the global Precious Metal Recovery And Refining market in the Internet, Communication and Technology category is projected to witness significant growth from 2025 to 2032. Market dynamics, technological advancements, and evolving consumer demand are expected to drive expansion during this period.
Driven by rising demand for gold, silver, platinum, and palladium across electronics, automotive, and jewelry sectors, the precious metal recovery and refining…
Current Trends and Future Perspectives in the Dental Waste Refining Service Mark …
"Worldwide Market Reports offers a UP-TO 70% discount on Dental Waste Refining Service Market Reports on Single User Access and Unlimited User Access"
The latest research study released by Worldwide Market Reports on "Dental Waste Refining Service Market" with 100+ pages of analysis on business strategy taken up by emerging industry players, geographical scope, market segments, product landscape and price, and cost structure. It also assists in market segmentation according to…
2021 Oil Refining Industry Global Analysis Report
Stratistics MRC 2021 Oil Refining Market report is Oil refining refers to post extraction treatment that is utilized to obtain high-quality oil for various uses.
Oil refining refers to post extraction treatment that is utilized to obtain high-quality oil for various uses. Many of impurities such as free fatty acids, gummy substances, and aldehydes etc are removed in the refining process. Oil refining involves many thermodynamic processes, such as mass and…
Electrolytic Refining Equipment Market Challenges, Growth Drivers and Applicatio …
LOS ANGELES, United States: The research study is a compilation of brilliant, thorough, and accurate analyses on different areas of the global Electrolytic Refining Equipment market. The researchers have made it a point to explore hidden growth opportunities and pin-point key strategies of prominent players and the successes achieved with their implementation. The segmentation study provided in the report helps players to understand the growth trajectory of all important segments…
Oil Refining Pumps Market |
The global demand for oil refining pumps is expected to surpass 3 million tons by 2018 end, according to a latest Fact.MR report on oil refining pumps market. Rising oil and gas production, and increase in petroleum-based power generation are driving oil refining pumps demand. The oil supply has sharply increased from Russia, Middle East, and the US, compensating for fall in oil production in Iran and Venezuela.
The demand for…
ARTC - Asia Refining Technology Conference
ARTC - National Resilience Council Indonesia (NRCI), Indonesia Defence University and Institute of Sciences Indonesia are confirmed to co-host the 20th Annual ARTC (Asia Refining Technology Conference) taking place in Jakarta on 29 – 30 March.
Lt Gen Nugroho Widyotomo, Secretariat General of National Resilience Council Indonesia will give an Opening keynote address on “Vision for Indonesia’s refining future: meeting demand and creating a sustainable downstream industry”.
By the organisers of…