PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1182341
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1182341
Oil & Gas Pumps Market Forecasts to 2028 - Global Analysis By Type, By Pump Type, By Capacity, By Application and Geography
According to Stratistics MRC, the Global Oil and Gas Pumps Market is accounted for $7.75 billion in 2022 and is expected to reach $12.58 billion by 2028 growing at a CAGR of 8.4% during the forecast period. Oil and gas pumps refer to the range of pumps required for extracting, processing, and delivering oil and gas to associated equipment. These pumps are useful for extracting oil and gas from various reservoirs or fields and delivering it to various markets or even exporting it. The oil and gas industry is critical to the global economy. The oil and gas industry not only generates the majority of primary energy, but it also serves as a major supplier of raw materials for chemical products such as pharmaceuticals, solvents, fertilisers, pesticides, and plastics.
According to the Organization of Petroleum Exporting Countries (OPEC), demand for OPEC crude oil is expected to rise by more than 40 million barrels per day by the end of 2040, fueling energy demand.
Market Dynamics:
Driver:
Continuous shale development activities
Shale and oil sands are significant sources of energy in North America, Latin America, and Asia Pacific. With a series of discoveries and technological advances, shale is one of the fastest growing energy sectors. Despite the fact that drilling can extract a significant amount of oil and natural gas from reservoir rock, much of it remains trapped within the reservoir itself. As a result, shale reservoirs necessitate more intervention processes in order to maximise oil production. Shale developments in China, the United States, and Argentina boost well production in these countries. As a result, rising shale oil and gas production is likely to increase demand for oil and gas pumps.
Restraint:
Increasing focus on use of renewable energy
Increasing emphasis on the use of renewable energy over the last decade, the use of renewable energy has increased significantly in regions. This has been bolstered further by lower power generation costs and growing concerns about carbon emissions. According to the Energy Information Administration (EIA), the use of renewable energy is expected to increase by 40% between 2012 and 2018. The decrease in solar and wind farm construction costs as new technologies emerge, as well as the increased adoption of electric vehicles, are supporting this dramatic shift from conventional energy to renewable energy, which is hindering the market.
Opportunity:
Development of pipeline infrastructure
Infrastructure development and the midstream oil and gas sector necessitates a widely distributed network because distances can range from many acres for an intermediate or end terminal tank farm to entire continents for a pipeline system. SCADA systems, control systems, and safety systems in storage facilities, control centres, and corporate offices, as well as a fast and reliable communication infrastructure, are required to perform intranet integration. This demand has a high growth potential for midstream communication solutions.
Threat:
Stringent Regulations
As global emissions levels rise, governments around the world are imposing strict emission regulations on the oil and gas industry. The oil and gas industry, for instance, is the largest source of volatile organic compounds (VOCs) and methane. And, as the world's reliance on oil and gas for energy and transportation grows, emissions levels rise as a result of increased oil and gas production and consumption, restricting market growth.
COVID-19 Impact
The negative global effects of the coronavirus are already visible, and they will have a significant impact on the Oil & Gas pumps market. Exports and imports, global manufacturing, tourism, and the financial sectors have all suffered significantly. For about two months, China, the world's largest consumer of oil, gas, and refined petroleum products, was shut down. As a result, oil prices began to fall in February 2020. Furthermore, in March 2020, Saudi Arabia and Russia engaged in an oil price war in response to Russia's denial of cutting production in order to keep prices moderate. This lasted for days, causing oil prices to fall in the spring. Furthermore, the lockdown has hampered the import and export of various goods.
The Midstream segment is expected to be the largest during the forecast period
The midstream segment has the largest market share and is expected to have the largest share during the forecast period. And, it primarily includes refined products transported over land, crude oil transportation via a network of pipes and pumping stations, as well as trucks and rail cars, all of which contribute to the segment's growth.
The Centrifugal pump segment is expected to have the highest CAGR during the forecast period
Because of their functionality as a water and oil separator, centrifugal pump segment is expected to register highest CAGR during the forecast period. Centrifugal pumps are in high demand in the oil and gas industry. With rising crude oil demand, centrifugal pumps are finding increased use in crude oil transportation in a variety of countries. Oil and gas pump manufacturers are concentrating on the modification of centrifugal pumps, which can improve performance and save a significant amount of energy.
Region with largest share:
The Middle East and Africa are the most profitable markets for oil and gas pumps and are expected to be the largest region during the forecast period. Because the Middle East is home to many oil and gas companies, the demand for oil and gas pumps in the UAE, Qatar, and Saudi Arabia is expected to rise rapidly. Furthermore, investments in the oil and gas sector in high-crude oil producing regions are expected to drive market growth over the next few years.
Region with highest CAGR:
North America is expected to have the highest CAGR growth during the forecast period due to significant expansion in unconventional resources in countries such as the United States and Canada. Furthermore, the development of affordable shale gas exploration and extraction technology as well as a surge in demand from the onshore and offshore segments, particularly in the Gulf of Mexico, appear to have had a relatively positive impact on the market for oil and gas pumps over time.
Key players in the market
Some of the key players profiled in the Oil and Gas Pumps Market include Alfa Laval AB, Gardner Denver Holdings Inc, Xylem Inc., Flowserve Corporation, Sulzer, Weir Group, KSB, HMS Group, Nikkiso, Schmitt Kreiselpumpen, Trillium Flow Technologies, Corporacion E.G., Baker Hughes Company, Groman-Rupp, EBARA Corporation and Tsurumi Manufacturing Co., Ltd.
Key Developments:
In Sep 2020, Alfa Laval won a supply contract to supply Framo pumping systems for two Floating Production Storage and Offloading (FPSO) vessels which comprises marine pumping systems for seawater and firewater lift service, operating outside the coast of Brazil
In August 2019, GAIL India announced an investment of USD 4.4 billion in pipeline laying and another USD 1.6 billion in city gas distribution (CGD) networks
In May 2019, Weir Oil & Gas has introduced SPM EXL Frac pump, a quintuplex pump designed for harsh fracking conditions
Types Covered:
- Submersible
- Non-Submersible
Pump Types Covered:
- Centrifugal pump
- Positive Displacement Pump
- Cryogenic Pump
- Other Pump Types
Capacities Covered:
- Small (Up to 500 gpm)
- Medium (500-1,000 gpm)
- High (More than 1,000 gpm)
Applications Covered:
- Upstream
- Midstream
- Downstream
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Oil & Gas Pumps Market, By Type
- 5.1 Introduction
- 5.2 Submersible
- 5.3 Non-Submersible
6 Global Oil & Gas Pumps Market, By Pump Type
- 6.1 Introduction
- 6.2 Centrifugal pump
- 6.3 Positive Displacement Pump
- 6.4 Cryogenic Pump
- 6.5 Other Pump Types
7 Global Oil & Gas Pumps Market Outlook, By Capacity
- 7.1 Introduction
- 7.2 Small (Up to 500 gpm)
- 7.3 Medium (500-1,000 gpm)
- 7.4 High (More than 1,000 gpm)
8 Global Oil & Gas Pumps Market, By Application
- 8.1 Introduction
- 8.2 Upstream
- 8.3 Midstream
- 8.4 Downstream
9 Global Oil & Gas Pumps Market, By Geography
- 9.1 Introduction
- 9.2 North America
- 9.2.1 US
- 9.2.2 Canada
- 9.2.3 Mexico
- 9.3 Europe
- 9.3.1 Germany
- 9.3.2 UK
- 9.3.3 Italy
- 9.3.4 France
- 9.3.5 Spain
- 9.3.6 Rest of Europe
- 9.4 Asia Pacific
- 9.4.1 Japan
- 9.4.2 China
- 9.4.3 India
- 9.4.4 Australia
- 9.4.5 New Zealand
- 9.4.6 South Korea
- 9.4.7 Rest of Asia Pacific
- 9.5 South America
- 9.5.1 Argentina
- 9.5.2 Brazil
- 9.5.3 Chile
- 9.5.4 Rest of South America
- 9.6 Middle East & Africa
- 9.6.1 Saudi Arabia
- 9.6.2 UAE
- 9.6.3 Qatar
- 9.6.4 South Africa
- 9.6.5 Rest of Middle East & Africa
10 Key Developments
- 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 10.2 Acquisitions & Mergers
- 10.3 New Product Launch
- 10.4 Expansions
- 10.5 Other Key Strategies
11 Company Profiling
- 11.1 Alfa Laval AB
- 11.2 Gardner Denver Holdings Inc
- 11.3 Xylem Inc.
- 11.4 Flowserve Corporation
- 11.5 Sulzer
- 11.6 Weir Group
- 11.7 KSB
- 11.8 HMS Group
- 11.9 Nikkiso
- 11.10 Schmitt Kreiselpumpen
- 11.11 Trillium Flow Technologies
- 11.12 Corporacion E.G.
- 11.13 Baker Hughes Company
- 11.14 Groman-Rupp
- 11.15 EBARA Corporation
- 11.16 Tsurumi Manufacturing Co., Ltd.
List of Tables
- Table 1 Global Oil & Gas Pumps Market Outlook, By Region (2020-2028) ($MN)
- Table 2 Global Oil & Gas Pumps Market Outlook, By Type (2020-2028) ($MN)
- Table 3 Global Oil & Gas Pumps Market Outlook, By Submersible (2020-2028) ($MN)
- Table 4 Global Oil & Gas Pumps Market Outlook, By Non-Submersible (2020-2028) ($MN)
- Table 5 Global Oil & Gas Pumps Market Outlook, By Pump Type (2020-2028) ($MN)
- Table 6 Global Oil & Gas Pumps Market Outlook, By Centrifugal pump (2020-2028) ($MN)
- Table 7 Global Oil & Gas Pumps Market Outlook, By Positive Displacement Pump (2020-2028) ($MN)
- Table 8 Global Oil & Gas Pumps Market Outlook, By Cryogenic Pump (2020-2028) ($MN)
- Table 9 Global Oil & Gas Pumps Market Outlook, By Other Pump Types (2020-2028) ($MN)
- Table 10 Global Oil & Gas Pumps Market Outlook, By Capacity (2020-2028) ($MN)
- Table 11 Global Oil & Gas Pumps Market Outlook, By Small (Up to 500 gpm) (2020-2028) ($MN)
- Table 12 Global Oil & Gas Pumps Market Outlook, By Medium (500-1,000 gpm) (2020-2028) ($MN)
- Table 13 Global Oil & Gas Pumps Market Outlook, By High (More than 1,000 gpm) (2020-2028) ($MN)
- Table 14 Global Oil & Gas Pumps Market Outlook, By Application (2020-2028) ($MN)
- Table 15 Global Oil & Gas Pumps Market Outlook, By Upstream (2020-2028) ($MN)
- Table 16 Global Oil & Gas Pumps Market Outlook, By Midstream (2020-2028) ($MN)
- Table 17 Global Oil & Gas Pumps Market Outlook, By Downstream (2020-2028) ($MN)
- Table 18 North America Oil & Gas Pumps Market Outlook, By Country (2020-2028) ($MN)
- Table 19 North America Oil & Gas Pumps Market Outlook, By Type (2020-2028) ($MN)
- Table 20 North America Oil & Gas Pumps Market Outlook, By Submersible (2020-2028) ($MN)
- Table 21 North America Oil & Gas Pumps Market Outlook, By Non-Submersible (2020-2028) ($MN)
- Table 22 North America Oil & Gas Pumps Market Outlook, By Pump Type (2020-2028) ($MN)
- Table 23 North America Oil & Gas Pumps Market Outlook, By Centrifugal pump (2020-2028) ($MN)
- Table 24 North America Oil & Gas Pumps Market Outlook, By Positive Displacement Pump (2020-2028) ($MN)
- Table 25 North America Oil & Gas Pumps Market Outlook, By Cryogenic Pump (2020-2028) ($MN)
- Table 26 North America Oil & Gas Pumps Market Outlook, By Other Pump Types (2020-2028) ($MN)
- Table 27 North America Oil & Gas Pumps Market Outlook, By Capacity (2020-2028) ($MN)
- Table 28 North America Oil & Gas Pumps Market Outlook, By Small (Up to 500 gpm) (2020-2028) ($MN)
- Table 29 North America Oil & Gas Pumps Market Outlook, By Medium (500-1,000 gpm) (2020-2028) ($MN)
- Table 30 North America Oil & Gas Pumps Market Outlook, By High (More than 1,000 gpm) (2020-2028) ($MN)
- Table 31 North America Oil & Gas Pumps Market Outlook, By Application (2020-2028) ($MN)
- Table 32 North America Oil & Gas Pumps Market Outlook, By Upstream (2020-2028) ($MN)
- Table 33 North America Oil & Gas Pumps Market Outlook, By Midstream (2020-2028) ($MN)
- Table 34 North America Oil & Gas Pumps Market Outlook, By Downstream (2020-2028) ($MN)
- Table 35 Europe Oil & Gas Pumps Market Outlook, By Country (2020-2028) ($MN)
- Table 36 Europe Oil & Gas Pumps Market Outlook, By Type (2020-2028) ($MN)
- Table 37 Europe Oil & Gas Pumps Market Outlook, By Submersible (2020-2028) ($MN)
- Table 38 Europe Oil & Gas Pumps Market Outlook, By Non-Submersible (2020-2028) ($MN)
- Table 39 Europe Oil & Gas Pumps Market Outlook, By Pump Type (2020-2028) ($MN)
- Table 40 Europe Oil & Gas Pumps Market Outlook, By Centrifugal pump (2020-2028) ($MN)
- Table 41 Europe Oil & Gas Pumps Market Outlook, By Positive Displacement Pump (2020-2028) ($MN)
- Table 42 Europe Oil & Gas Pumps Market Outlook, By Cryogenic Pump (2020-2028) ($MN)
- Table 43 Europe Oil & Gas Pumps Market Outlook, By Other Pump Types (2020-2028) ($MN)
- Table 44 Europe Oil & Gas Pumps Market Outlook, By Capacity (2020-2028) ($MN)
- Table 45 Europe Oil & Gas Pumps Market Outlook, By Small (Up to 500 gpm) (2020-2028) ($MN)
- Table 46 Europe Oil & Gas Pumps Market Outlook, By Medium (500-1,000 gpm) (2020-2028) ($MN)
- Table 47 Europe Oil & Gas Pumps Market Outlook, By High (More than 1,000 gpm) (2020-2028) ($MN)
- Table 48 Europe Oil & Gas Pumps Market Outlook, By Application (2020-2028) ($MN)
- Table 49 Europe Oil & Gas Pumps Market Outlook, By Upstream (2020-2028) ($MN)
- Table 50 Europe Oil & Gas Pumps Market Outlook, By Midstream (2020-2028) ($MN)
- Table 51 Europe Oil & Gas Pumps Market Outlook, By Downstream (2020-2028) ($MN)
- Table 52 Asia Pacific Oil & Gas Pumps Market Outlook, By Country (2020-2028) ($MN)
- Table 53 Asia Pacific Oil & Gas Pumps Market Outlook, By Type (2020-2028) ($MN)
- Table 54 Asia Pacific Oil & Gas Pumps Market Outlook, By Submersible (2020-2028) ($MN)
- Table 55 Asia Pacific Oil & Gas Pumps Market Outlook, By Non-Submersible (2020-2028) ($MN)
- Table 56 Asia Pacific Oil & Gas Pumps Market Outlook, By Pump Type (2020-2028) ($MN)
- Table 57 Asia Pacific Oil & Gas Pumps Market Outlook, By Centrifugal pump (2020-2028) ($MN)
- Table 58 Asia Pacific Oil & Gas Pumps Market Outlook, By Positive Displacement Pump (2020-2028) ($MN)
- Table 59 Asia Pacific Oil & Gas Pumps Market Outlook, By Cryogenic Pump (2020-2028) ($MN)
- Table 60 Asia Pacific Oil & Gas Pumps Market Outlook, By Other Pump Types (2020-2028) ($MN)
- Table 61 Asia Pacific Oil & Gas Pumps Market Outlook, By Capacity (2020-2028) ($MN)
- Table 62 Asia Pacific Oil & Gas Pumps Market Outlook, By Small (Up to 500 gpm) (2020-2028) ($MN)
- Table 63 Asia Pacific Oil & Gas Pumps Market Outlook, By Medium (500-1,000 gpm) (2020-2028) ($MN)
- Table 64 Asia Pacific Oil & Gas Pumps Market Outlook, By High (More than 1,000 gpm) (2020-2028) ($MN)
- Table 65 Asia Pacific Oil & Gas Pumps Market Outlook, By Application (2020-2028) ($MN)
- Table 66 Asia Pacific Oil & Gas Pumps Market Outlook, By Upstream (2020-2028) ($MN)
- Table 67 Asia Pacific Oil & Gas Pumps Market Outlook, By Midstream (2020-2028) ($MN)
- Table 68 Asia Pacific Oil & Gas Pumps Market Outlook, By Downstream (2020-2028) ($MN)
- Table 69 South America Oil & Gas Pumps Market Outlook, By Country (2020-2028) ($MN)
- Table 70 South America Oil & Gas Pumps Market Outlook, By Type (2020-2028) ($MN)
- Table 71 South America Oil & Gas Pumps Market Outlook, By Submersible (2020-2028) ($MN)
- Table 72 South America Oil & Gas Pumps Market Outlook, By Non-Submersible (2020-2028) ($MN)
- Table 73 South America Oil & Gas Pumps Market Outlook, By Pump Type (2020-2028) ($MN)
- Table 74 South America Oil & Gas Pumps Market Outlook, By Centrifugal pump (2020-2028) ($MN)
- Table 75 South America Oil & Gas Pumps Market Outlook, By Positive Displacement Pump (2020-2028) ($MN)
- Table 76 South America Oil & Gas Pumps Market Outlook, By Cryogenic Pump (2020-2028) ($MN)
- Table 77 South America Oil & Gas Pumps Market Outlook, By Other Pump Types (2020-2028) ($MN)
- Table 78 South America Oil & Gas Pumps Market Outlook, By Capacity (2020-2028) ($MN)
- Table 79 South America Oil & Gas Pumps Market Outlook, By Small (Up to 500 gpm) (2020-2028) ($MN)
- Table 80 South America Oil & Gas Pumps Market Outlook, By Medium (500-1,000 gpm) (2020-2028) ($MN)
- Table 81 South America Oil & Gas Pumps Market Outlook, By High (More than 1,000 gpm) (2020-2028) ($MN)
- Table 82 South America Oil & Gas Pumps Market Outlook, By Application (2020-2028) ($MN)
- Table 83 South America Oil & Gas Pumps Market Outlook, By Upstream (2020-2028) ($MN)
- Table 84 South America Oil & Gas Pumps Market Outlook, By Midstream (2020-2028) ($MN)
- Table 85 South America Oil & Gas Pumps Market Outlook, By Downstream (2020-2028) ($MN)
- Table 86 Middle East & Africa Oil & Gas Pumps Market Outlook, By Country (2020-2028) ($MN)
- Table 87 Middle East & Africa Oil & Gas Pumps Market Outlook, By Type (2020-2028) ($MN)
- Table 88 Middle East & Africa Oil & Gas Pumps Market Outlook, By Submersible (2020-2028) ($MN)
- Table 89 Middle East & Africa Oil & Gas Pumps Market Outlook, By Non-Submersible (2020-2028) ($MN)
- Table 90 Middle East & Africa Oil & Gas Pumps Market Outlook, By Pump Type (2020-2028) ($MN)
- Table 91 Middle East & Africa Oil & Gas Pumps Market Outlook, By Centrifugal pump (2020-2028) ($MN)
- Table 92 Middle East & Africa Oil & Gas Pumps Market Outlook, By Positive Displacement Pump (2020-2028) ($MN)
- Table 93 Middle East & Africa Oil & Gas Pumps Market Outlook, By Cryogenic Pump (2020-2028) ($MN)
- Table 94 Middle East & Africa Oil & Gas Pumps Market Outlook, By Other Pump Types (2020-2028) ($MN)
- Table 95 Middle East & Africa Oil & Gas Pumps Market Outlook, By Capacity (2020-2028) ($MN)
- Table 96 Middle East & Africa Oil & Gas Pumps Market Outlook, By Small (Up to 500 gpm) (2020-2028) ($MN)
- Table 97 Middle East & Africa Oil & Gas Pumps Market Outlook, By Medium (500-1,000 gpm) (2020-2028) ($MN)
- Table 98 Middle East & Africa Oil & Gas Pumps Market Outlook, By High (More than 1,000 gpm) (2020-2028) ($MN)
- Table 99 Middle East & Africa Oil & Gas Pumps Market Outlook, By Application (2020-2028) ($MN)
- Table 100 Middle East & Africa Oil & Gas Pumps Market Outlook, By Upstream (2020-2028) ($MN)
- Table 101 Middle East & Africa Oil & Gas Pumps Market Outlook, By Midstream (2020-2028) ($MN)
- Table 102 Middle East & Africa Oil & Gas Pumps Market Outlook, By Downstream (2020-2028) ($MN)
