Pune, Maharashtra -- (SBWIRE) -- 05/02/2019 -- Key Insights - Oil and Gas Pumps Market

Tier 1 Players Account for Nearly 40% Share in Oil & Gas Pumps Market

With diverse product portfolio, tier 1 players account for nearly 40% share of the oil & gas pumps market. Expansion with new product launches, industry and supply chain partnerships, and strategic acquisitions are among the key strategies of market players.

Major players in the oil & gas pumps market are also integrating sensors and monitoring software to provide advance monitoring system. Xylem, GRUNDFOS, Weir Group, Flowserve Corporation, KSB SE & Co. KGaA, and Sulzer Ltd. are some of the leading companies in the oil & gas pumps market.

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Rise in Global Oil & Gas Demand: A Key Driver

According to International Energy Agency's (IEA's) Oil Market Report, oil demand is projected to increase to 99.3 million b/d in 2018. Growing oil supply from Saudi Arabia, Russia, and the US is likely to create sustained opportunities for oil & gas pumps market players.

Oil is projected to remain the fuel with the major share in the energy mix. The demand for OPEC crude is projected to increase to nearly 40 million b/d by 2040, as per the Organization of the Petroleum Exporting Countries (OPEC). Moreover, refinery additions are expected in the Asia Pacific, the Middle East, Africa, and Latin America in the coming years.

The demand for natural gas is likely to increase, especially from Asian markets. With strong policy support, China is likely to account for the major share in gas, with demand likely to grow by 60% during 2017-2023, as per the IEA analysis. Moreover, with increasing gas production in the US, most of the supplies will be geared to export market through pipelines or as LNG. This is likely to result in significant demand for oil & gas pumps worldwide.

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Investment in Innovation Growing

The process of innovation in the oil & gas industry is being driven by the oil & gas pumps integrated with new technology. Manufacturers in the oil & gas pumps market are focusing on developing Industrial Internet of Things (IIoT) integrated smart oil & gas pumps including data collection device, sensors, and analysis/monitoring software.

Table of Contents Covered in the report are:

1. Oil & Gas Pumps Market- Executive Summary
1.1. Market Overview
1.2. FMR Analyzed
1.3. Oil & Gas Pumps Market Opportunity Assessment
1.3.1. Winning and Losing Components
1.4. Market White Spaces Analysis and Wheel of Fortune Opportunity Analysis

2. Global Oil & Gas Pumps Market Introduction
2.1. Introduction & Definition
2.2. Market Taxonomy

3. Market Dynamics
3.1. Key Market Trends and Drivers
3.2. Key Challenges

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4. Associated Industry Assessment
4.1. Global Pumps Market Overview
4.1.1. Global Pumps Market Analysis (US$ Mn and Units) and Forecast, 2013-2028
4.1.2. Global Pumps Market Analysis and Forecast by Region, 2018 & 2028
4.1.3. Global Pumps Market Analysis and Forecast by Product Type, 2018 & 2028
4.1.3.1. Centrifugal Pumps
4.1.3.2. Reciprocating Pumps
4.1.3.3. Rotary Pumps
4.1.4. Market Attractiveness Analysis by Product Type

5. Key Indicator Assessment
5.1. Supply Chain
5.1.1. Oil & Gas Pumps Manufacturers
5.1.2. Pumps Manufacturers
5.1.3. Distributors/Suppliers
5.1.4. End Users
5.2. Cost Structure
5.3. Macro-Economic Factors Influencing Demand

And Continue....