LONDON, June 21, 2016 /PRNewswire/ -- Global Pumps Market in the Oil and Gas Industry : Process Equipment Companies Will Continue to Wait out the Brutal Economic Scenario in the Short Term
The oil price crash has sparked economic turmoil and has shaken the entire oil and gas industry value chain. Pump manufacturers are definitely feeling the effects. This research service analyzes current and future trends in the global pumps market in the oil and gas industry, based on usage in the upstream, midstream, and downstream sectors. The market is segmented into centrifugal and positive displacement pumps. Market drivers and restraints and their impact over the 2016 to 2020 forecast period are discussed in detail. The study analyzes the competitive structure and discusses the post-recession impact on end users in North America, Latin America, Europe and Russia, the Middle East and Africa, and Asia-Pacific. The base year is 2015.
Key Trends Affecting the Market
Upstream: Decline in Capital Expenditure (CAPEX) and Shale Production In 2016, for the first time in the past 3 decades, end users will cut CAPEX investment for a second year in a row. The decline in CAPEX, along with the projected decline of US shale oil production, will help stabilize prices in the last quarter of 2016.
Downstream: Make Hay While the Sun Shines With low-priced oil and increasing demand for gasoline, US refineries are running at record capacity; new CAPEX investments will boost pump sales in 2016. Asia-Pacific (APAC) and the Middle East will invest in new refining capacity and experience the largest opportunity during the forecast period.
Oil and Gas Continues to Hurt Process Equipment The oil price rout will have a significant impact on the market in the short term. This is expected to affect the pumps market as oil and gas is the largest end-user segment. Prices are expected to stabilize after 2018, and the market will slowly return to normal.
Key Questions This Study Will Answer
- Is the market growing? How long will it continue to grow, and at what rate?
- How will the oil price decline affect the market?
- Where are the pockets of opportunities in the market?
- What technology trends must pump manufacturers be cognizant of?
- How will the Industrial Internet of Things (IIoT) impact the market?
- Are the products/services offered today meeting customer needs, or is additional development needed?
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