The liquefied gas pump market is majorly dominated by local manufacturers.
New York, NY -- (SBWIRE) -- 03/28/2017 -- Liquefied Gas Pump Market Dynamics
The liquefied gas pump market is generally rely on the demands from gas processing plants and gas filling stations. The liquefied gas pumps are vastly used in gas filling stations used for refueling of automobiles. Hence, increase in production of gas fueled vehicles and extending network of gas filling stations is estimated to drive the liquefied gas pump market. Also, the demand of LPG, CNG, and LNG in domestic activities like cooking, room heating and water heating may also boost up the liquefied gas pump market. Moreover, increasing national and international gas pipeline networks to reduce transportation charges is expected provide leverage to liquefied gas pump market.
Whereas, production and liquefying gases is an expensive task as it needs superior cooling and compression process. Also, high initial & operating cost and lower performance character are some restraints for liquefied gas pump market. Moreover, the risks associated with leakages and volatility of gasses suppress the growth of liquefied gas pump market.
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Liquefied Gas Pump Market: Key Players
The liquefied gas pump market is majorly dominated by local manufacturers. Although some key players catering superior technology and services includes Sulzer Ltd, Global Teikoku Group, Apollo Goessnitz GmbH (HMS Group), Smith Precision Pumps, Fristam Pumps USA, PSG (Dover Corp.), Moret Industries Group, Pulsafeeder Engineered Products, Ebara Corporation, Renroc Group, KSB Aktiengesellschaft, EDUR Pumpenfabrik Eduard Redlien GmbH & Co. KG.
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Liquefied Gas Pump Market: Region-wise Outlook
Depending on geographic regions, the global liquefied gas pump market is segmented into seven key regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Middle East & Africa (MEA), and Japan. The MEA and North America are estimated to lead the market due to higher oil and gas exploration activities. Also nations such as U.S., Russia, and China are estimated to remain dominant in liquefied gas pump market due to larger dependency on gases. Whereas, developing oil & gas piping network in developing nations across Asia Pacific is expected to offer higher growth rates in the forecast period.