Assessment of future trends and growth of pumps market in oil & gas industry on the basis of investments in different streams (upstream, midstream, and downstream) in the oil & gas industry.
Northbrook, IL -- (SBWIRE) -- 07/03/2019 -- According to the market report published by MarketsandMarkets™, "Oil & Gas Pumps Market by Type (Centrifugal, Positive Displacement (Screw Pumps, Reciprocating Pumps, Rotary & Gear Pumps, Progressive Cavity Pumps), Cryogenic), Application (Upstream, Midstream, Downstream), Region - Global Forecast to 2023", The global oil & gas pumps market is projected to reach USD 10.36 billion by 2023 from an estimated USD 8.47 billion in 2018, at a CAGR of 4.12%. This growth can be attributed to the increasing unconventional resources in the North American, South American, and Asia Pacific regions and development of gas terminals.
The centrifugal pump segment is expected to hold the largest share of the pumps market in oil & gas industry, by type, during the forecast period.
The centrifugal pump segment is estimated to dominate the oil & gas pumps market in 2018 and is projected to have the largest market share during the forecast period. Centrifugal pumps are preferred for processes that handle low viscosity liquids and high flow rates. Various types of centrifugal pumps are used in a wide variety of applications. The ability of these pumps to be used across various applications has resulted in their higher market share.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=72491540
The midstream segment is expected to hold the largest share of the pumps market in oil & gas industry, by application, during the forecast period.
The midstream segment is estimated to dominate the pumps market in oil & gas industry in 2018 and is projected to have the largest market share during the forecast period. The midstream oil activities mainly include transportation of crude oil and refined products over land, using a network of pipes and pumping stations as well as trucks and rail cars. The growth of unconventional resources is creating the need for an expanded midstream network of pipelines, rail, tankers, and terminals. This is expected to drive the pumps market in the midstream segment.
North America: The leading market for pumps in oil & gas industry
In this report, the pumps market in oil & gas industry has been analyzed with respect to 5 regions, namely, North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is estimated to dominate the global pumps market in 2018 owing to the growth in unconventional resources in the US and Canada. The demand from the onshore & offshore fields in the Gulf of Mexico is also likely to impact the pump market positively during the forecast period.
Request Sample Pages of the Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=72491540
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the oil & gas pumps market. The key players include Flowserve (US), Sulzer (Switzerland), KSB (Germany), Weir Group (UK), and Grundfos (Denmark). The leading players are adopting various strategies to increase their shares in the pumps market in oil & gas industry.
Browse more related reports:
Centrifugal Pump Market by Type (Overhung Impeller, Vertically Suspended, and between Bearing), Stage (Single Stage, Multistage), End-User (Water and Wastewater, Chemicals, Oil & Gas, Power, Commercial and Residential), and Region - Global Forecast to 2022
Drilling and Completion Fluids Market by Application (Onshore and Offshore), Fluid System (Water-Based System, Oil-Based System, Synthetic-Based System), Well Type (Conventional and HPHT), and Region - Global Forecast to 2023
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441