Press release
Oil and Gas Pumps Market Set to Reach US$ 9.8 Billion by 2030, Driven by LNG Infrastructure Expansion
Oil and Gas Pumps Market
Cutting-edge pumping technologies are becoming critical for gas terminal efficiency, enabling seamless LNG unloading, regasification, and distribution. Positive displacement pumps are gaining traction for high-pressure applications, while cryogenic pumps support the handling of extreme-temperature fluids in LNG supply chains. Asia Pacific is emerging as the fastest-growing region, driven by rapid industrialization, deepwater drilling projects, and infrastructure development.
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Key Highlights from the Report
➤ Global market expected to reach US$ 9.8 billion by 2030 at 5.7% CAGR
➤ LNG terminal expansion driving demand for cryogenic and high-pressure pumps
➤ Positive displacement pumps ranked second-fastest growing segment by type
➤ Downstream applications set to gain momentum in refinery and gas processing plants
➤ Asia Pacific identified as fastest-growing regional market
➤ New oilfield discoveries in Mexico, Guyana, Arctic Russia, and beyond boosting upstream demand
Market Segmentation
By pump type, the market is categorized into centrifugal pumps, positive displacement pumps, and cryogenic pumps. Positive displacement pumps, including screw, reciprocating, rotary, and progressing cavity pumps, serve crucial high-pressure and viscous fluid handling roles. Reciprocating pumps, such as diaphragm and multi-plunger designs, remain widely used for specialized upstream operations.
Within applications, the market spans upstream (exploration and production), midstream (transportation and storage), and downstream (refining, distribution). Downstream pumps support primary and secondary processing systems, alongside storage and transfer operations.
Regional Insights
Asia Pacific leads in growth rate due to rising energy consumption, urbanization, and technological advancements in deepwater and ultra-deepwater drilling. Countries like China, India, Japan, and Australia are investing heavily in oilfield redevelopment and LNG infrastructure to meet increasing industrial demand.
North America remains strong in pump technology innovation, aided by substantial LNG terminal projects and offshore exploration. The Middle East & Africa continues benefiting from oilfield expansions, modernized refineries, and cross-border energy trade.
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Market Dynamics
Market Drivers
Rapid expansion of LNG and FLNG terminals, driven by rising natural gas demand, is fueling the adoption of specialized pumping solutions for regasification and gas distribution.
Market Restraints
Shifts toward renewable energy and declining fossil fuel investments, coupled with stringent environmental regulations, are limiting pump market expansion in certain regions.
Market Opportunities
Promising oilfield discoveries in offshore and Arctic regions are opening long-term growth potential, increasing upstream investment in pump technology.
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Reasons to Buy the Report
✔ Detailed forecasts for global and regional market performance through 2030
✔ Insight into pump type and application-specific growth opportunities
✔ Competitive analysis of leading manufacturers in oil and gas pumping solutions
✔ Strategic guidance for companies entering LNG and upstream markets
✔ Comprehensive coverage of technological advancements in pump design
Frequently Asked Questions (FAQs)
◆ How big is the global oil and gas pumps market in 2022?
◆ What are the main growth drivers for the oil and gas pumps industry?
◆ Who are the leading players in the pumps segment of the petroleum sector?
◆ What is the forecasted CAGR between 2024 and 2031?
◆ Which region is expected to lead growth in the oil and gas pumps market by 2030?
Company Insights
Atlas Copco AB (Sweden)
Flowserve Corporation (US)
Sulzer Ltd (Switzerland)
KSB SE & Co. KGaA (Germany)
Nikkiso Co., Ltd. (Japan)
Xylem (US)
Baker Hughes Company (US)
ITT Goulds Pumps (US)
Recent Developments:
May 2023 - KSB SE & Co. KGaA expanded its MegaCPK type series with 19 new sizes, enhancing seal compatibility and system reliability.
August 2022 - Atlas Copco acquired LEWA GmbH and Geveke B.V., strengthening its portfolio in diaphragm metering and process pumps.
Conclusion
The global oil and gas pumps market is on a steady growth trajectory, propelled by LNG infrastructure expansion, new oilfield discoveries, and evolving pump technologies that meet demanding operational requirements. As Asia Pacific leads growth and technological upgrades enhance efficiency across upstream, midstream, and downstream operations, pump manufacturers have significant opportunities to innovate and expand in the evolving energy landscape.
Contact Us
Mr. Sai Kiran
DataM Intelligence 4market Research LLP Ground floor
DSL Abacus IT Park, Industrial Development Area
Uppal, Hyderabad, Telangana 500039
USA: +1 877-441-4866
Email: Sai.k@datamintelligence.com
Visit Our Website: https://www.datamintelligence.com
About Us
DataM Intelligence 4Market Research is a comprehensive market intelligence platform offering syndicated and customized reports along with expert consulting across multiple industries, including chemicals, healthcare, agriculture, food & beverages, and more. With extensive experience and a strategy-focused approach, DataM provides businesses and individuals with reliable market insights, statistical forecasts, and personalized research solutions to help them make informed decisions and successfully bring innovations to market.
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