Press release
Oil and Gas Pumps Market 2025: Exceptional Growth at 6.9% CAGR, Major Drivers and Key Trends
Oil and Gas Pumps Market
What Is The Projected Market Size Of The Global Oil And Gas Pumps Market And Its Growth Rate?
* The oil and gas pumps market size has significantly expanded in recent times and is expected to grow from $13.35 billion in 2024 to $14.27 billion in 2025, at a Compound Annual Growth Rate (CAGR) of 6.9%.
* This robust growth can be attributed to increased global demand for oil and gas products, advancement in upstream exploration, production activities, and the expansion of refining and petrochemical industries.
* Further growth is anticipated as the market size is projected to reach $19.97 billion in 2029, with a compound annual growth rate (CAGR) of 8.8%, driven by the integration of IoT and automation in pumping systems and a growing demand for environmentally-friendly and low-emission pumping solutions.
What Is Driving The Growth In The Oil And Gas Pumps Market?
The growth of the oil and gas pumps market is primarily driven by the development of oil and gas pipeline infrastructure. Oil and gas pipelines play an essential role in transporting crude oil or natural gas liquids, with pumps or compressors aiding to move the oil or gas safely through the pipeline. Several governments are planning hefty investments to expand the gas pipeline network across their countries. For instance, the government of India is planning to invest $9.9 billion for this purpose. As a result, the development of oil and gas pipeline infrastructure is expected to provide a significant boost to the oil and gas pumps market in the coming years.
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Who Are the Key Players Driving Oil And Gas Pumps Market Growth?
Key players playing an instrumental role in the growth of 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.
What Are The Key Trends In The Oil And Gas Pumps Market?
Major trends in the oil and gas pumps market are:
* 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)
What Are The Segments Of The Global Oil And Gas Pumps Market?
The oil and gas pumps market can be segmented as follows:
* By Type: Centrifugal, Positive Displacement, Cryogenic
* By Capacity: Small (up to 500 gpm), Medium (500-1000 gpm), High (more than 1000 gpm)
* By Application: Upstream, Midstream, Downstream
Which Region Leads The Oil And Gas Pumps Market?
Asia-Pacific was the largest region in the oil and gas pumps market in 2024 and is 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.
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What Is Covered In The Oil And Gas Pumps Global Market Report?
- Market Size Analysis: Analyze the Oil And Gas Pumps Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Oil And Gas Pumps Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Oil And Gas Pumps Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities, and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Oil And Gas Pumps Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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