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.
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Global Oil & Gas Pumps Market Research Methodology:
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 2019, 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.
Global Oil & Gas Pumps Market Overview:
The goal of this study is to provide an overview of the Global Oil & Gas Pumps industry as well as a detailed market segmentation by segments and geographies. The report contains critical information on the market positions of the top Global Oil & Gas Pumps firms, as well as important industry trends and opportunities.
The study also contains company biographies, product images and specifications, capacity, production, price, cost, revenue, and contact information for the leading industry players in the Global Oil & Gas Pumps market. This research looks into , regional, and corporate market trends, volume, and value. This study examines the whole Global Oil & Gas Pumps Market Size from a worldwide standpoint, evaluating historical data and generating estimates.
Global Oil & Gas Pumps Market is expected to reach US$ 13.53 Bn. by 2026, at a CAGR of 6.34% during the forecast period.
Global Oil & Gas Pumps Market Market Scope:
Following the completion of market engineering, which included market statistics computations, market size estimations, market projections, market breakdown, and data triangulation, extensive primary research was conducted to gather information and verify and validate key figures. Both top-down and bottom-up approaches, as well as several data triangulation methods, were often used throughout the market engineering process to get a market evaluation and predictions for the overall market segments and sub-segments included in the Global Oil & Gas Pumps market study. To give vital information throughout the report, extensive qualitative and quantitative analysis is done on all data gathered throughout the market engineering process.
Top-down and bottom-up approaches are used to validate the market size and estimate market size by segment. The market estimations in the research are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights based on usage rate and average sale price are applied to each area to generate percentage splits, market shares, and segment breakdowns. The country-wise divisions of the overall market and its sub-segments are determined by the percentage adoption or usage of the specified market Size in the relevant area or nation.
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Global Oil & Gas Pumps Market Segmentation:
For the transportation and storage of hydrocarbons, the midstream sector of the oil and gas industry is essential. An expanded midstream network of pipelines, rail, tankers, and terminals is necessary due to the increase in shale oil and gas production in the US market. Midstream natural gas operations include gathering, moving, and processing natural gas from the wellhead, removing pollutants and producing natural gas liquids, storing, moving natural gas through pipelines, and liquefying or regasifying liquefied natural gas (LNG).
Global Oil & Gas Pumps Market Key Players:
• Sulzer
• Weir Group
• KSB
• Xylem
• Alfa Laval
• Gardner Denver
• Grundfos
• HMS Group
• Nikkiso
• Schmitt Kreiselpumpen
• Trillium Flow Technologies
• Atlas Copco
• Wilo SE
• Corporacion E.G.
• Halliburton
• Baker Hughes Company
• Groman-Rupp
• EBARA Corporation
• Tsurumi Manufacturing Co., Ltd.
• Gemmecotti
Inorganic growth tactics cited in the industry included acquisitions, partnerships, and collaborations. Because of increased demand, industry participants in the Global Oil & Gas Pumps market are projected to benefit from excellent future growth opportunities. The following are a few firms involved in the Global Oil & Gas Pumps industry.
Regional Analysis:
After studying the political, economic, social, and technical elements impacting the Global Oil & Gas Pumps market in various regions, the report offers a detailed PESTLE analysis for each of the five areas, namely North America, Europe, Asia Pacific, and the Middle East, Africa, and South America.
COVID-19 Impact Analysis on Global Oil & Gas Pumps Market:
Customer behaviour has changed as a result of the COVID-19 epidemic in all areas of society. Industries, on the other hand, will need to revise their plans to account for changing market supply. This report provides an overview of the COVID-19’s influence on the Global Oil & Gas Pumps market and will assist you in developing your business in accordance with the new industry standards.
Key Questions Answered in the Global Oil & Gas Pumps Market Report are:
What will be the CAGR of the Global Oil & Gas Pumps market during the forecast period?
In the Global Oil & Gas Pumps industry, which market category emerged as the market leader?
Who are the main market participants in Global Oil & Gas Pumps?
What will the size of the Global Oil & Gas Pumps market be in 2027?
Which company dominated the Global Oil & Gas Pumps industry in terms of market share?
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