PUBLISHER: QYResearch | PRODUCT CODE: 1875842
PUBLISHER: QYResearch | PRODUCT CODE: 1875842
The global market for API Pumps was estimated to be worth US$ 1871 million in 2024 and is forecast to a readjusted size of US$ 2505 million by 2031 with a CAGR of 4.3% during the forecast period 2025-2031.
This report provides a comprehensive assessment of recent tariff adjustments and international strategic countermeasures on API Pumps cross-border industrial footprints, capital allocation patterns, regional economic interdependencies, and supply chain reconfigurations.
API pumps meet Standard 610 for General Refinery Service as set by the American Petroleum Institute (API). This U.S. trade association for the oil and natural gas industries develops standards for petroleum and petrochemical equipment. Unlike the ANSI standards, which are dimensional, API Standard 610 centers around the pump's construction and design, particularly as they pertain to the pump's ability to handle high temperatures, pressures and emissions.
1. Expanding Oil & Gas Industry
One of the primary drivers of the API pumps market is the expansion of the oil and gas sector, particularly in upstream (exploration and drilling) and midstream (transport and storage) activities. As global energy demand rises, especially in developing economies, exploration activities are increasing in both onshore and offshore reserves.
API 610-compliant pumps are essential for transporting crude oil, natural gas, and refined products under high pressure and harsh conditions.
Major oil-producing countries like the U.S., Saudi Arabia, and Brazil continue to invest in refinery upgrades and new pipeline infrastructure.
2. Growth in Petrochemical and Chemical Industries
The petrochemical industry-which heavily depends on high-performance pumps for moving aggressive, corrosive, and hazardous fluids-represents a major application area for API pumps.
Rising demand for plastics, polymers, solvents, and synthetic materials boosts the need for reliable fluid handling systems.
In regions like Asia-Pacific and the Middle East, significant investments are being made into new petrochemical complexes, further stimulating pump demand.
3. Stringent Safety and Reliability Standards
API pumps are specifically designed to adhere to stringent industry safety and performance standards. These standards are especially critical in hazardous environments where reliability is non-negotiable.
Compliance with API 610, API 674, and API 685 standards ensures mechanical integrity, safety, and operational efficiency.
Increased awareness of workplace safety, regulatory oversight, and environmental compliance drive the replacement of non-compliant legacy equipment with modern API-certified alternatives.
4. Modernization of Aging Infrastructure
In many industrialized countries, especially across North America and Europe, aging refinery and chemical processing infrastructure is being modernized.
Refurbishment projects and plant upgrades require replacement of older pumping systems with new, energy-efficient, API-compliant units.
Retrofitting older equipment with more durable API pumps enhances process reliability and reduces downtime.
This report aims to provide a comprehensive presentation of the global market for API Pumps, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of API Pumps by region & country, by Type, and by Application.
The API Pumps market size, estimations, and forecasts are provided in terms of sales volume (K Units) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding API Pumps.
Market Segmentation
By Company
Segment by Type
Segment by Application
By Region
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (value, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of API Pumps manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of API Pumps in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of API Pumps in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.