Press release
Key Trend Reshaping the Oil And Gas Pumps Market in 2025: Rising Significance Of IOT In Oil And Gas Refineries Enhances Oil And Gas Pumps Efficiency
Oil And Gas Pumps Market
The oil and gas pumps market has experienced growth due to the augmentation of oil and gas pipeline infrastructure. Pipelines for oil and gas serve the function of transporting crude oil or liquids derived from natural gas. The movement of oil or gas through these pipelines at a safe velocity is facilitated by pumps or compressors. The India Brand Equity Foundation reports that the Indian government has plans in place to invest $9.9 billion in the expansion of the country's gas pipeline network. As per Invest India, approximately 12,672 km of gas pipelines are currently under development. Consequently, the market for oil and gas pumps is expected to be propelled by the infrastructure development of oil and gas pipelines in the projected period.
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How will the growth rate of the oil and gas pumps market shape industry trends by 2034?
In recent times, there has been a significant expansion in the market size of oil and gas pumps. The market, valued at $13.35 billion in 2024, is estimated to escalate to $14.27 billion in 2025, marking a compound annual growth rate (CAGR) of 6.9%. This growth observed in the historic period is a result of increased global demand for oil and gas products, enhanced exploration and production activities, expansion of the refining and petrochemical industries, the necessity for improved efficiency and reliability in pumping systems, and increased emphasis on offshore oil and gas development.
Over the coming years, the oil and gas pumps market is projected to witness robust expansion. The market is set to balloon to $19.97 billion by 2029, with a compound annual growth rate (CAGR) of 8.8%. This growth throughout the forecast period can be credited to the incorporation of Internet of Things and automation in pump systems, an increasing demand for eco-friendly and low-emission pumping solutions, innovations in high-pressure, high-temperature pumps, the growth of natural gas processing and Liquefied Natural Gas facilities, and a focus on pumping solutions for carbon capture and storage (ccs). Key future trends include digital twin and predictive maintenance technologies, high-pressure and high-temperature pumps, subsea pump solutions, progressing cavity pumps for heavy crude oil, hydraulic fracturing pump equipment, and pumping solutions for enhanced oil recovery (EOR).
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What trends are poised to drive the future success of the oil and gas pumps market?
The incorporation of the Internet of Things (IoT) into oil and gas refinery operations is a developing trend in the oil and gas pumps market. IoT technology facilitates the monitoring of aspects like pipe thickness, flow rate, and pressure. It links machines within the oil and gas industry, aiding in the prediction of equipment malfunction, thereby minimizing downtime. Given that a single pump breakdown could lead to productivity losses that run into hundreds of thousands of dollars, being aware of the condition of pumps in real-time can enable the preparation of replacements for those vulnerable to failure. Consequently, the role of IoT in the oil and gas pumps market is significant.
Which primary segments of the oil and gas pumps market are driving growth and industry transformations?
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
Subsegments:
1) By Centrifugal: Single-Stage Centrifugal Pumps, Multi-Stage Centrifugal Pumps, Axial Flow Pumps, Radial Flow Pumps, Submersible Pumps
2) By Positive Displacement: Reciprocating Pumps, Rotary Pumps, Gear Pumps, Diaphragm Pumps, Piston Pumps
3) By Cryogenic: Cryogenic Centrifugal Pumps, Cryogenic Positive Displacement Pumps, Vaporizer Pumps, Cryogenic Submersible Pumps
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Which geographical regions are pioneering growth in the oil and gas pumps market?
Asia-Pacific was the largest region in the oil and gas pumps market in 2024. 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.
Who are the influential players reshaping the oil and gas pumps market landscape?
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, 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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What Is Covered In The Oil And Gas Pumps Global Market Report?
•Market Size Forecast: Examine the oil and gas pumps market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the oil and gas pumps market for a structured understanding.
•Key Players Overview: Analyze major players in the oil and gas pumps market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the oil and gas pumps market.
•Segment Contributions: Evaluate how different segments drive overall growth in the oil and gas pumps market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the oil and gas pumps market.
•Industry Challenges: Identify potential risks and obstacles affecting the oil and gas pumps market.
•Competitive Landscape: Review strategic developments in the oil and gas pumps market, including expansions, agreements, and new product launches.
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