Oil and Gas Pumps Market Industry Share, Trends, Growth, Future Prospects, Forecast 2021 to 2028
Adroit Market Research presents Oil and Gas Pumps Market report a professional and in-depth study of the current state of the market. Additionally, this market report includes an assessment of the impact of COVID-19 on this industry.
Dallas, United States – May 24, 2021 /MarketersMedia/ —
Pumps are considered being very important in gas and oil sector. They are often used for the relocation of oil in numerous cases like inside oil refineries and drilling rigs. Furthermore they are also used for steam stripping, gasoline transfers, chemical transfers or injection tasks. The oil and gas industry can’t operate devoid of pumps which are specially engineered for them. The designing of pumps in the oil and gas industry is done so as to obtain optimum functioning and maximum reliability. The oil and gas industry get faced by several circumstances including chemicals, pressure and temperatures. The pumps used in this industry need to be operational in such conditions, whether offshore or onshore. It is very important for the manufacturers in the Oil and gas pump industry to meet some criteria in order to deliver quality pumps.
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The major players of the global oil & gas pumps market are Alfa Laval, Flowserve, Gardner Denver, GE Oil & Gas, Grundfos, HMS, KSB, Sulzer, Weir Group, and Xylem. Moreover, the market comprises several other prominent players in the oil & gas pumps market that are Lewa, Schmitt Kreiselpumpen, PCM SA, SPP Pumps, and ITT Oil & Gas.
The global Oil and gas pump industry growth is mainly being driven by the increasing utilization of unconventional resources including coal bed methane, tight gas & oil and shale gas & liquids that require pumps with different specifications and design. Furthermore, there has been a significant growth in the demand for gas pumps in the industry over the past few years owing it to the rise in consumption of natural gas across the globe. This enhanced demand has been pushing the market growth further. In addition to that, several favorable government regulations and policies related to the usage of natural gas are also contributing in flourishing of Oil and gas pump industry. The escalation in the investments in the supply infrastructure of liquid natural gas is anticipated to impact the sales of oil & gas pumps positively.
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The rising demand for efficient and higher quality pumps attributed by the increasing concerns related to energy efficiency is anticipated to offer lucrative opportunities to market players. The growing need to control operational costs and capacity enlargement in the current oil & gas fields are expected to boost the product adoption worldwide. The robust demand for pumps to continuously maintain the pressure required transporting oil & gas over long distances is another aspect driving the growth of the Oil & gas pumps Market on global level. Furthermore, the fresh investments in upstream oil & gas segment are also anticipated to act as a catalyst for the growth of the market.
Key Segments of the Global Oil & Gas Pumps Market
Type Overview, 2018-2028 (USD Million)
• Centrifugal pump
• Positive Displacement Pump
Application Overview, 2018-2028 (USD Million)
• Upstream
• Midstream
• Downstream
Regional Overview, 2018-2028 (USD Million)
North America
• U.S.
• Canada
Europe
• UK
• Germany
• France
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Rest of Asia-Pacific
Middle East and Africa
• UAE
• South Africa
• Rest of Middle East and Africa
South America
• Brazil
• Rest of South Americ
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