Pumps and Valves Market for Oil and Gas Industry - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2015 - 2023
Albany, NY -- (SBWIRE) -- 12/24/2015 -- Transparency Market Research has released a new report, titled "Pumps and Valves Market for Oil and Gas Industry - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2015 – 2023", now available on the company website.
According to the report, the global pumps and valves market is primarily driven by the increase in the production of oil and gas. This boosted production, along with the increasing need for creating larger transport systems for the oil and gas sector, has ramped up the demand for the global pumps and valves market in the oil and gas industry.
The report provides detailed and credible analyses on the global pumps and valves market for the oil and gas industry from the perspective of market categories and its segments, a geographical segmentation that reveals the regional impact of the market based on the availability of raw materials and demand, and the current trends that guide the market.
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On the basis of application, the global pumps and valves market for the oil and gas industry can be segmented into onshore and offshore equipment. Of these, the market is dominated by onshore pumps and valves, owing to an increase in onshore exploration rate. New onshore pipeline projects are expected to be set up in the near future and will require an additional supply of pumps and valves in order to efficiently produce and transport oil and gas.
The offshore applications segment is expected to grow at a steady rate owing to technological advancements and modifications that allow the equipment to be more effective in the harsh offshore conditions.
The report's segmentation of the global pumps and valves market for the oil and gas industry is also performed according to the type of valves. This includes check valves, gate valves, ball valves, and needle valves.
The global demand for energy is constantly on the rise, prompting a greater production rate of oil and gas. This also means that oil and gas will have to be transported over greater distances, as exploration activities continue to stretch across the globe. The demand for pumps and valves will consequently increase, especially through the use of artificial lifts and other equipment. This large number of projects coming up across the world is expected to propel the global pumps and valves market for the oil and gas industry in the near future.
Key players in the global pumps and valves market are L.B. Bentley Limited, Sulzer Ltd., PERAR s.p.a, FMC Technologies Inc., BuTech, PetrolValves, Oliver Valves Limited, Cornell Pump Company, Cameron, LEWA GmbH, DAFRAM S.p.A., The Weir Group PLC, CORTEC, LLC, Flowserve Corporation, and SPP Pumps.
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