0

Pumps Market for Oil and Gas Industry by Product and Geography - Forecast and Analysis 2020-2024

  • Published: Apr 2020
  • Pages: 120
  • SKU: IRTNTR41542
Technavio

The 2022-2026 version of this report is just being published. Buy it now and get up to $1000 worth of free customization!

Get me the latest version! (includes COVID-19 impact)
Safe and Secure SSL Encrypted
  • 2500.00
  • USD

The pumps market size for oil and gas industry has the potential to grow by USD 2.23 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by product (centrifugal and PD) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Danfoss AS, Enerpac Tool Group Corp., Flowserve Corp., General Electric Co., Grundfos Holding AS, Ingersoll Rand Co., ITT Inc., Robert Bosch GmbH, Sulzer Management Ltd., and The Weir Group Plc.

Market Overview

pumps-market-size

Browse TOC and LoE with selected illustrations and example pages of pumps market

Request a FREE sample now!

Market Competitive Analysis

The pumps market for oil and gas industry is fragmented. Market vendors are increasingly focusing on consolidation activities to expand their geographical presence and product portfolios, improve access to supply and distribution channels, and increase the sales of PD pumps. Ingersoll Rand Co., ITT Inc., Robert Bosch GmbH, Sulzer Management Ltd., and The Weir Group Plc are some of the major market participants. Although the growing need for energy-efficient pumps will offer immense growth opportunities, operations in harsh environments will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this pumps market forecast report for the oil and gas industry provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this pumps market analysis report for the oil and gas industry also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Danfoss AS
  • Enerpac Tool Group Corp.
  • Flowserve Corp.
  • General Electric Co.
  • Grundfos Holding AS
  • Ingersoll Rand Co.
  • ITT Inc.
  • Robert Bosch GmbH
  • Sulzer Management Ltd.
  • The Weir Group Plc

Pumps Market for Oil and Gas Industry: Segmentation by Region

pumps-market-share-by-region

For more insights on the market share of various regions Request for a FREE sample now!

North America was the largest pumps market for oil and gas industry in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The significant investments in upstream oil and gas activities will significantly influence pumps market growth for oil and gas industry in this region.

Over 40% of the market’s growth will originate from North America during the forecast period. The US and Mexico are the key markets for pumps in North America. Market growth in this region will be faster than the growth of the market in Europe and South America.

Pumps Market for Oil and Gas Industry: Segmentation by Product

pumps-market-share-by-distribution-channel

Request for a FREE sample and Get more information on the market contribution of various segments

Centrifugal pumps are preferred for handling large volumes of fluids because of their higher flow rate as compared to PD pumps. Centrifugal pumps can regulate their flow rate with changes in oil and gas piping systems. The resurging investments in shale resources in the US, which is a key oil and gas market, is expected to fuel the growth of the pumps market in this segment.

However, market growth in this segment will be slower than the growth of the market in the PD segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the pumps market size for the oil and gas industry.

Pumps Market for Oil and Gas Industry: Key Drivers and Trends

The considerably increasing need for energy-efficient pumps is one of the key factors driving pumps market growth for oil and gas industry. With the aging infrastructure and increased focus on reducing operating expenditure (OPEX) by improving production efficiency, there has been a significant rise in the requirement of energy-efficient pumps. Additionally, technological advances in PD pumps have made them a viable choice for consumers in the oil and gas industry as they can replace several small pumps due to their variable frequency drive. Such advantages of pumps are encouraging vendors to develop energy-efficient pumps to improve overall operational efficiency. Furthermore, regulatory authorities across the globe are encouraging the adoption of energy-efficient equipment, including pumps. For instance, the US Department of Energy funded USD 25 million for the development of energy-efficient motor technology. Such initiatives by the governments across the globe will further contribute significantly to the growth of pumps market for oil and gas industry during the forecast period.

  • The improvements in the precession of 3D-printing have made it ideal for product testing and designing processes.
  • The use of modeling software solutions to design 3D-printed impellers will minimize the cost of testing pumps.
  • 3D-printed impellers provide a better performance, higher flow rate, and outlet pressure than traditional impellers.
  • 3D printing helps in minimizing the cost of production by reducing fabrication costs significantly.
  • The development of 3D-printed impellers, which is one of the critical pumps market trends for the oil and gas industry, is expected to positively influence the growth of the market during the next five years.
  • During 2020-2024, the pumps market for oil and gas industry will grow at a CAGR of almost 4%. 

pumps-market-report

Request for a FREE sample now!

Pumps Market for Oil and Gas Industry: Key Highlights of the Report for the Forecast Period 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive pumps market growth for oil and gas industry during the next five years
  • Precise estimation of the pumps market size for oil and gas industry and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the pumps market for oil and gas industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of pumps market vendors for oil and gas industry 

We can help! Our analysts can customize this report to meet your requirements. Get in touch

Read More Read Less

Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product placement
  • Centrifugal - Market size and forecast 2019-2024
  • PD - Market size and forecast 2019-2024
  • Market opportunity by Product

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers
  • Volume driver - Demand led growth
  • Volume driver - Supply led growth
  • Volume driver - External factors
  • Volume driver - Demand shift in adjacent markets
  • Price driver - Inflation
  • Price driver - Shift from lower to higher-priced units
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Danfoss AS
  • Enerpac Tool Group Corp.
  • Flowserve Corp.
  • General Electric Co.
  • Grundfos Holding AS
  • Ingersoll Rand Co.
  • ITT Inc.
  • Robert Bosch GmbH
  • Sulzer Management Ltd.
  • The Weir Group Plc

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
Technavio

TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
Technavio

TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
Interested in this report?
Get your FREE sample now!
The pumps market for oil and gas industry market growth will increase by $2230.93 million during 2019-2024.
The pumps market for oil and gas industry market is expected to grow at a CAGR of 3.69% during 2019-2024.
Technavio has segmented the pumps market for oil and gas industry market by product (Centrifugal and PD) ,platform (Urban e-bikes, Trekking e-bikes, eMTBs, Cargo e-bikes, and Others) , and geographic (North America, APAC, MEA, Europe, and South America).
Danfoss AS, Enerpac Tool Group Corp., Flowserve Corp., General Electric Co., Grundfos Holding AS, Ingersoll Rand Co., ITT Inc., Robert Bosch GmbH, Sulzer Management Ltd., The Weir Group Plc are a few of the key vendors in the pumps market for oil and gas industry market.
North America will register the highest growth rate of 40.08% among the other regions. Therefore, the pumps market for oil and gas industry market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • Mexico
  • Saudi Arabia
  • Russian Federation
  • China
The key factors driving the pumps market for oil and gas industry market growth are:
  • Growing need for energy-efficient pumps
  • Development of 3D-printed impellers
The pumps market for oil and gas industry market vendors should focus on grabbing business opportunities from the centrifugal segment as it accounted for the largest market share in the base year.
Safe and Secure SSL Encrypted
Technavio

Single User:

2500 USD

Technavio Get the report (PDF) sent to your email within minutes.

Subscribe & Save

Get lifetime access to our
Technavio Insights

Want to customize this report?

This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time.

We offer $1000 worth of FREE customization at the time of purchase
Technavio
Enquire Before Buying
  1. Home
  2. Industrials
  3. Published Report
17,000 reports available | Plans starting from just 5,000 USD | Get FREE trial>>