Oil & Gas Pumps Market is expected to reach US$ 16.25 Bn. by 2029, at a CAGR of 6.34% during the forecast period.Oil & Gas Pumps Market Introduction
Pumps are an essential part of an oil drilling rig's oil displacement system. Pumps of various forms are used in upstream, downstream, and midstream applications, including centrifugal, positive displacement, and cryogenic pumps. With rising unconventional resources in these areas, the current scenario sees massive growth in the Americas and the Asia Pacific. They are used to displace oil in a variety of places, including oil drilling rigs and refineries. Pumps that have been specifically developed for the oil and gas industry are important and irreplaceable.To know about the Research Methodology :- Request Free Sample Report
Oil & Gas Pumps Market Dynamics
Because of the increased use of unconventional resources such as shale gas and liquids, tight gas and oil, and coal bed methane, which require pumps of various designs and specifications, the oil and gas pumps market is expected to grow rapidly. Increased demand for gas pumps in the industry, owes to increasing natural gas use and favorable government policies on the subject. According to the IEA, the global oil demand rose by 1.1 million barrels per day, year on year (y-o-y) in the third quarter of 2022, more than double the 435 kb/d seen in the second quarter. During the forecast period, global oil demand is projected to rise at a CAGR of xx%, which will fuel demand for pumps for use in refineries and exploration activities. Over the forecast period, technological advancements that have made deep water and ultra-deep water exploration feasible and cost-effective are expected to boost oil production. This, in turn, is expected to open up a chance for business expansion in the near future. Oil and gas pumps that have been incorporated with modern technologies are driving the process of innovation in the industry. Manufacturers of oil and gas pumps are concentrating on developing Industrial Internet of Things (IIoT) integrated smart oil and gas pumps, which include data collection devices, sensors, and analysis/monitoring applications. North America has seen a massive increase in the production of unconventional resources like shale and tight oil over the last decade. The expansion was made possible by advancements in horizontal drilling and hydraulic fracturing technology. With a number of discoveries and technical advancements, shale is one of the fastest-growing energy markets. In the United States, shale gas and tight oil production have grown exponentially, from about 300 billion cubic feet in 2010 to over 23 trillion cubic feet in 2022. Shale gas production is concentrated mainly in the Northeast and Gulf Coast areas, with the Appalachian shale play becoming the most active natural gas field in the United States. Chevron is the largest shale oil producer in the United States in terms of daily crude oil production. Furthermore, as gas production in the United States peaks, majority of supplies will be headed for export through pipelines or LNG. This would certainly result in a surge in demand for oil and gas pumps around the world.Oil & Gas Pumps Market Segment Analysis
The midstream segment of the oil and gas industry comprises a vital infrastructure for the transportation and storage of hydrocarbons. The expansion of the US market's shale oil and gas output is necessitating an extended midstream network of pipelines, rail, tankers, and terminals. Gathering, transporting, and refining natural gas from the wellhead, removal of impurities, and output of natural gas liquids, storage, pipeline transport, and shipping, and liquefaction or regasification of Liquefied Natural Gas are all examples of midstream natural gas operations (LNG). Pumps are used in pipelines and storage, ports, CO2 pipelines, and other midstream applications. The midstream segment is expected to be dominated by North America, followed by the Asia Pacific. North American countries plan to spend approximately USD 30 billion per year on oil and gas infrastructure. During the forecast period, this is expected to drive the midstream segment's growth. Centrifugal pumps (Dynamic Pumps) are used to transport petroleum and its derivatives in refineries and have a wide range of applications. The global refining capacity increased by 2.8% in 2018, and the trend is expected to continue over the forecast period. The demand for centrifugal pumps in refineries has increased as global refining capacity has increased, and this trend is expected to continue over the forecast period.Global Oil & Gas Pumps Market Regional Insights
China's market is expected to expand as it is one of the world's largest oil importers. Between 2022 and 2025, China is projected to account for the majority of the increase in crude oil refining capacity in the Asia-Pacific region. By 2025, the country is projected to account for 26.8% of APAC's total refining expansion potential. Automation enhances resource efficiency while reducing imports. It also aids in the reduction of labor costs and human intervention, which is currently a major problem in the Asia Pacific due to labor laws that are extremely strict. As the Asia Pacific region experiences strong economic growth, demand for oil products is increasingly growing. With less than 9% of the world's confirmed reserves, the area has a high rate of oilfield redevelopment and reconstruction. Economic growth and increased demand for oil and gas have resulted in an increase in offshore oil and gas exploration and production in the region. Philippines and Myanmar are expected to meet rising energy demand by expanding their operations into deeper and more remote waters. Asia Pacific accounted for 44.1% of global primary energy demand, according to the BP Statistical Analysis of World Energy 2022.Global Oil & Gas Pumps Market Report Scope: Inquire before buying
Global Oil & Gas Pumps Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US $10.57 Bn. Forecast Period 2023 to 2029 CAGR: 6.34% Market Size in 2029: US $ 16.25 Bn. Segments Covered: by Type Dynamic Pumps Positive Displacement Pump by Application Upstream Downstream Midstream Oil & Gas Pumps Market, by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)Oil & Gas Pumps Market Key Players are:
1. Flowserve 2. Sulzer 3. Weir Group 4. KSB 5. Xylem 6. Alfa Laval 7. Gardner Denver 8. Grundfos 9. HMS Group 10.Nikkiso 11.Schmitt Kreiselpumpen 12.Trillium Flow Technologies 13.Atlas Copco 14.Wilo SE 15.Corporacion E.G. 16.Halliburton 17.Baker Hughes Company 18.Groman-Rupp 19.EBARA Corporation 20.Tsurumi Manufacturing Co., Ltd. 21.GemmecottiFrequently Asked questions
1. What is the market size of the Global Oil & Gas Pumps Market in 2022? Ans. The market size Global Oil & Gas Pumps Market in 2022 was US$ 10.57 Billion. 2. What are the different segments of the Global Oil & Gas Pumps Market? Ans. The Global Oil & Gas Pumps Market is divided into Application, Type and Region. 3. What is the study period of this market? Ans. The Global Oil & Gas Pumps Market will be studied from 2022 to 2029. 4. Which region is expected to hold the highest Global Oil & Gas Pumps Market share? Ans. The Asia Pacific dominates the market share in the market. 5. What is the Forecast Period of Global Oil & Gas Pumps Market? Ans. The Forecast Period of the market is 2023-2029 in the market.
1. Oil & Gas Pumps Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. Oil & Gas Pumps Market: Dynamics 2.1. Oil & Gas Pumps Market Trends 2.2. Oil & Gas Pumps Market Dynamics 2.2.1.1. Drivers 2.2.1.2. Restraints 2.2.1.3. Opportunities 2.2.1.4. Challenges 2.3. PORTER’s Five Forces Analysis 2.4. PESTLE Analysis 2.5. Regulatory Landscape 2.6. Technological Roadmap 2.7. Key Opinion Leader Analysis for Oil & Gas Pumps Industry 2.8. Analysis of Government Schemes and Initiatives for Oil & Gas Pumps Industry 2.9. Oil & Gas Pumps Market Trade Analysis 2.10. The Global Pandemic Impact on Oil & Gas Pumps Market 3. Oil & Gas Pumps Market: Global Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 3.1. Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 3.1.1. Dynamic Pumps 3.1.2. Positive Displacement Pump 3.2. Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 3.2.1. Upstream 3.2.2. Downstream 3.2.3. Midstream 3.3. Oil & Gas Pumps Market Size and Forecast, by Region (2022-2029) 3.3.1. North America 3.3.2. Europe 3.3.3. Asia Pacific 3.3.4. Middle East and Africa 3.3.5. South America 4. North America Oil & Gas Pumps Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 4.1. North America Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 4.1.1. Dynamic Pumps 4.1.2. Positive Displacement Pump 4.2. North America Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 4.2.1. Upstream 4.2.2. Downstream 4.2.3. Midstream 4.3. North America Oil & Gas Pumps Market Size and Forecast, by Country (2022-2029) 4.3.1. United States 4.3.1.1. United States Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 4.3.1.1.1. Dynamic Pumps 4.3.1.1.2. Positive Displacement Pump 4.3.1.2. United States Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 4.3.1.2.1. Upstream 4.3.1.2.2. Downstream 4.3.1.2.3. Midstream 4.3.2. Canada 4.3.2.1. Canada Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 4.3.2.1.1. Dynamic Pumps 4.3.2.1.2. Positive Displacement Pump 4.3.2.2. Canada Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 4.3.2.2.1. Upstream 4.3.2.2.2. Downstream 4.3.2.2.3. Midstream 4.3.3. Mexico 4.3.3.1. Mexico Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 4.3.3.1.1. Dynamic Pumps 4.3.3.1.2. Positive Displacement Pump 4.3.3.2. Mexico Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 4.3.3.2.1. Upstream 4.3.3.2.2. Downstream 4.3.3.2.3. Midstream 5. Europe Oil & Gas Pumps Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 5.1. Europe Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 5.2. Europe Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 5.3. Europe Oil & Gas Pumps Market Size and Forecast, by Country (2022-2029) 5.3.1. United Kingdom 5.3.1.1. United Kingdom Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 5.3.1.2. United Kingdom Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 5.3.2. France 5.3.2.1. France Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 5.3.2.2. France Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 5.3.3. Germany 5.3.3.1. Germany Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 5.3.3.2. Germany Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 5.3.4. Italy 5.3.4.1. Italy Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 5.3.4.2. Italy Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 5.3.5. Spain 5.3.5.1. Spain Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 5.3.5.2. Spain Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 5.3.6. Sweden 5.3.6.1. Sweden Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 5.3.6.2. Sweden Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 5.3.7. Austria 5.3.7.1. Austria Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 5.3.7.2. Austria Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 5.3.8. Rest of Europe 5.3.8.1. Rest of Europe Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 5.3.8.2. Rest of Europe Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 6. Asia Pacific Oil & Gas Pumps Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 6.1. Asia Pacific Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 6.2. Asia Pacific Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 6.3. Asia Pacific Oil & Gas Pumps Market Size and Forecast, by Country (2022-2029) 6.3.1. China 6.3.1.1. China Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 6.3.1.2. China Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 6.3.2. S Korea 6.3.2.1. S Korea Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 6.3.2.2. S Korea Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 6.3.3. Japan 6.3.3.1. Japan Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 6.3.3.2. Japan Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 6.3.4. India 6.3.4.1. India Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 6.3.4.2. India Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 6.3.5. Australia 6.3.5.1. Australia Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 6.3.5.2. Australia Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 6.3.6. Indonesia 6.3.6.1. Indonesia Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 6.3.6.2. Indonesia Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 6.3.7. Malaysia 6.3.7.1. Malaysia Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 6.3.7.2. Malaysia Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 6.3.8. Vietnam 6.3.8.1. Vietnam Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 6.3.8.2. Vietnam Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 6.3.9. Taiwan 6.3.9.1. Taiwan Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 6.3.9.2. Taiwan Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 6.3.10. Rest of Asia Pacific 6.3.10.1. Rest of Asia Pacific Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 6.3.10.2. Rest of Asia Pacific Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 7. Middle East and Africa Oil & Gas Pumps Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 7.1. Middle East and Africa Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 7.2. Middle East and Africa Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 7.3. Middle East and Africa Oil & Gas Pumps Market Size and Forecast, by Country (2022-2029) 7.3.1. South Africa 7.3.1.1. South Africa Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 7.3.1.2. South Africa Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 7.3.2. GCC 7.3.2.1. GCC Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 7.3.2.2. GCC Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 7.3.3. Nigeria 7.3.3.1. Nigeria Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 7.3.3.2. Nigeria Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 7.3.4. Rest of ME&A 7.3.4.1. Rest of ME&A Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 7.3.4.2. Rest of ME&A Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 8. South America Oil & Gas Pumps Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 8.1. South America Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 8.2. South America Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 8.3. South America Oil & Gas Pumps Market Size and Forecast, by Country (2022-2029) 8.3.1. Brazil 8.3.1.1. Brazil Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 8.3.1.2. Brazil Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029) 8.3.2. Argentina 8.3.2.1. Argentina Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 8.3.2.2. Argentina Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029 8.3.3. Rest Of South America 8.3.3.1. Rest Of South America Oil & Gas Pumps Market Size and Forecast, by Type (2022-2029) 8.3.3.1.1. 8.6.3.2. Rest Of South America Oil & Gas Pumps Market Size and Forecast, by Application (2022-2029 9. Global Oil & Gas Pumps Market: Competitive Landscape 9.1. MMR Competition Matrix 9.2. Competitive Landscape 9.3. Key Players Benchmarking 9.3.1. Company Name 9.3.2. Business Segment 9.3.3. End-user Segment 9.3.4. Revenue (2022) 9.3.5. Company Locations 9.4. Leading Oil & Gas Pumps Market Companies, by market capitalization 9.5. Market Structure 9.5.1. Market Leaders 9.5.2. Market Followers 9.5.3. Emerging Players 9.6. Mergers and Acquisitions Details 10. Company Profile: Key Players 10.1. Flowserve 10.1.1. Company Overview 10.1.2. Business Portfolio 10.1.3. Financial Overview 10.1.4. SWOT Analysis 10.1.5. Strategic Analysis 10.1.6. Details on Partnership 10.1.7. Recent Developments 10.2. Sulzer 10.3. Weir Group 10.4. KSB 10.5. Xylem 10.6. Alfa Laval 10.7. Gardner Denver 10.8. Grundfos 10.9. HMS Group 10.10. Nikkiso 10.11. Schmitt Kreiselpumpen 10.12. Trillium Flow Technologies 10.13. Atlas Copco 10.14. Wilo SE 10.15. Corporacion E.G. 10.16. Halliburton 10.17. Baker Hughes Company 10.18. Groman-Rupp 10.19. EBARA Corporation 10.20. Tsurumi Manufacturing Co., Ltd. 10.21. Gemmecotti 11. Key Findings 12. Industry Recommendations 13. Oil & Gas Pumps Market: Research Methodology