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Neuroscience Antibodies & Assays Market Size, Analysis, Trends, Opportunities And Strategies 2024-2033
Oil And Gas Pumps Market Size
As per the report, the oil and gas pumps market size has grown strongly in recent years. It will grow from $12.55 billion in 2023 to $13.45 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. 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%.
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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.
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.
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
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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
Contents of the report:
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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