The Worldwide Oil & Gas Pumps Industry is Expected to Reach $9 Billion by 2025
DUBLIN, Nov. 26, 2020 /PRNewswire/ -- The "Oil & Gas Pumps Market by Type (Submersible, Non-submersible) Pump Type (Centrifugal, Positive Displacement (Screw, Reciprocating, Rotary and Gear, Progressive Cavity), Cryogenic), Application (Upstream, Midstream, Downstream), Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global oil & gas pumps market is projected to reach USD 9.0 billion by 2025 from an estimated USD 6.6 billion in 2020, at a CAGR of 6.4% during the forecast period.
Continuous shale development activities and the development of gas terminals are the key factors driving the growth of the oil & gas pumps market. Likewise, the development of pipeline infrastructure in Asia Pacific and the Middle East and the discovery of new reservoirs in the African region are expected to offer lucrative opportunities for the oil & gas pumps market during the forecast period. However, the growing usage of renewable energy and managing lead time of product are expected to hinder the growth of the market.
The submersible pump, by type, is expected to be the fastest-growing market from 2020 to 2025.
Submersible pumps, as the name implies, can be submersed within a tank, well, or other containers. These pumps are designed to be suitable for immersion. Submersible pumps find applications in oil production and in supplying water for agriculture and industry. The type most widely used in the Soviet Union is the submersible centrifugal pump with electric drive for oil production and vertical pumping of water. In other countries, submersible pumps of the piston type with hydraulic drive are also used. The increasing offshore oil & gas activities are expected to boost the demand for submersible pumps in the oil & gas industry
The centrifugal segment, by pump type, is expected to be the largest market from 2020 to 2025.
Centrifugal pumps are used in the upstream segment as part of tri-phase or multi-phase pumping applications. Various types of centrifugal pumps are used in a wide variety of applications, for example, electrical submersible pumps are used as a water and oil separator, in which water can be reinjected into a reservoir without lifting it to the ground surface. Despite the slowdown in the oil & gas sector and the fall in oil prices, the oil & gas industry continues to be one of the largest end users of centrifugal pumps. Also, the oil & gas sector is expected to witness high investments in the coming years. Investments in the oil & gas sector from emerging economies and continuing developments in high crude oil-producing regions such as the Middle East, North America, and Russia are projected to drive the growth of the market for centrifugal pumps globally
Asia Pacific: The largest and the fastest-growing region in the oil & gas pumps market.
The regional market is further segmented into China, Japan, India, South Korea, Australia, and Rest of Asia Pacific. The market in China is expected to grow as it is one of the major importers of oil and its domestic demand surpasses its production. Automation ensures optimum utilization of resources and curbs imports. It also helps in the reduction of labor costs and human interference, which is currently a major concern in Asia Pacific owing to stringent labor laws. The demand for oil products in the Asia Pacific region is rapidly increasing as the region experiences strong economic growth. The region has less than 9.0% of the world's proven reserves, implying a high rate of redevelopment and rehabilitation of oilfields.
Substantial economic growth and the demand for oil & gas have led to an increase in offshore oil & gas E&P in the region. The increasing activities in deeper and more remote waters in the Philippines and Myanmar are expected to meet the growing energy demand. According to the BP Statistical Review of World Energy 2020, Asia Pacific accounted for 44.1% share of global primary energy consumption
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
3.1 Scenario Analysis
3.1.1 Optimistic Scenario
3.1.2 Realistic Scenario
3.1.3 Pessimistic Scenario
4 Premium Insights
4.1 Attractive Opportunities in Oil & Gas Pumps Market
4.2 Oil & Gas Pumps Market, by Type
4.3 Oil & Gas Pumps Market, by Pump Type
4.4 Oil & Gas Pumps Market, by Application
4.5 North America Oil & Gas Pumps Market, by Application & Country
5 Market Overview
5.1 Introduction
5.1.1 Yc Shift
5.2 COVID-19 Health Assessment
5.3 Road to Recovery
5.4 COVID-19 Economic Assessment
5.5 Market Dynamics
5.5.1 Drivers
5.5.1.1 Continuous Shale Development Activities
5.5.1.2 Development of Gas Terminals
5.5.2 Restraints
5.5.2.1 Increasing Focus on Use of Renewable Energy
5.5.2.2 Low Oil & Gas Prices
5.5.3 Opportunities
5.5.3.1 New Discoveries in Africa
5.5.3.2 Development of Pipeline Infrastructure in Asia-Pacific & Middle East
5.5.4 Challenges
5.5.4.1 High Competition
5.5.4.2 Managing Lead Time of Product
5.5.4.3 Impact of COVID-19 on Oil & Gas Industry
5.6 Supply Chain Overview
5.6.1 Key Influencers
5.6.1.1 Raw Material/Component Providers
5.6.1.2 Pumps Manufacturers
5.6.1.3 End-users
5.7 Trade Analysis
5.7.1 Export Data Analysis
5.7.2 Import Data Analysis
5.8 Case Study Analysis
5.8.1 Flowserve Provides Custom-Engineered Pumps for ExxonMobil's Kizomba a and B Floating Platforms
5.9 Market Map
5.10 COVID-19 Impact
5.10.1 Upstream Outlook and Impact of COVID-19 Pandemic
5.10.2 Impact of COVID-19 Pandemic on Midstream Oil & Gas Industry
5.10.3 Impact of COVID-19 Pandemic on Downstream Oil & Gas Industry
6 Impact of COVID-19 on Oil & Gas Pumps Market, Scenario Analysis, by Region
6.1 Introduction
6.2 Impact of COVID-19 on GDP
6.3 Scenario Analysis of Oil & Gas Industry
6.4 Optimistic Scenario
6.5 Realistic Scenario
6.6 Pessimistic Scenario
7 Oil & Gas Pumps Market, by Type
7.1 Introduction
7.2 Submersible Pumps
7.2.1 Increasing Offshore Oil & Gas Activities to Increase Demand for Submersible Pumps
7.3 Non-Submersible Pumps
7.3.1 Increasing Investments in Development of Midstream Infrastructure to Drive Growth of Non-Submersible Pumps Market
8 Oil & Gas Pumps Market, by Pump Type
8.1 Introduction
8.2 Centrifugal Pumps
8.2.1 Developments in High Crude Oil Producing Regions to Fuel Demand for Centrifugal Pumps
8.3 Positive Displacement Pumps
8.3.1 Increasing Upstream Activities to Boost Growth of Market for Positive Displacement Pumps
8.3.2 Screw Pumps
8.3.3 Rotary & Gear Pumps
8.3.4 Progressive Cavity Pump
8.3.5 Reciprocating Pumps
8.3.5.1 Diaphragm Pump
8.3.5.2 Multi-Plunger Pump
8.3.5.3 Piston Pump
8.4 Cryogenic Pump
8.4.1 Development of Natural Gas Reserves and Transportation Infrastructure to Sureg Demand for Cryogenic Pumps
9 Oil & Gas Pumps Market, by Application
9.1 Introduction
9.2 Upstream
9.2.1 Increasing Exploration & Production Activities to Drive Growth of Upstream Oil & Gas Pumps Market
9.2.2 Seawater Lift Pump
9.2.3 Water & Co2 Injection
9.2.4 Safety & Firefighting
9.2.5 Gathering & Separations
9.3 Midstream
9.3.1 Increasing Investments in Pipeline & Transportation Infrastructure to Drive Market for Midstream Oil & Gas Pumps
9.3.2 Pipeline & Transportation
9.3.3 Terminal
9.3.4 Co2 Pipeline
9.3.5 Others
9.4 Downstream
9.4.1 Increasing Refining Capacity to Drive Growth of Downstream Oil & Gas Pumps Market
9.4.2 Primary Processing
9.4.3 Secondary Processing
9.4.4 Storage & Transfer
10 Oil & Gas Pumps Market, by Region
10.1 Introduction
10.2 North America
10.3 Asia-Pacific
10.4 Europe
10.5 Middle East & Africa
10.6 South America
11 Competitive Landscape
11.1 Overview
11.2 Industry Concentration, 2019
11.3 Competitive Scenario
11.3.1 Contracts & Agreements
11.3.2 New Product Launches
11.3.3 Investments & Expansion
11.3.4 Mergers & Acquisitions
11.4 Winners Vs. Tail Enders
11.4.1 Winners
11.4.2 Tail Enders
11.5 Competitive Leadership Mapping, 2019
11.5.1 Star
11.5.2 Emerging Leader
11.5.3 Pervasive
11.5.4 Emerging Company
12 Company Profiles
12.1 Alfa Laval
12.2 Flowserve
12.3 Ksb
12.4 Sulzer
12.5 Weir Group
12.6 Grundfos
12.7 HMS
12.8 Gardner Denver
12.9 Xylem
12.10 Nikkiso
12.11 Schmitt Kreiselpumpen
12.12 Trillium Flow Technologies
12.13 Atlas Copco
12.14 Wilo Se
12.15 Corporacion E.G.
12.16 Halliburton
12.17 Baker Hughes
12.18 Groman-Rupp
12.19 Ebara Corporation
12.20 Tsurumi Manufacturing Co. Ltd.
13 Appendix
13.1 Insights of Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: The Subscription Portal
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details
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