The global oil and gas pumps market is poised to experience a robust growth period on account of the continuous increase in demand for oil and gas across the world. This trend is mainly attributable to the rapid economic development, especially in developing nations, which is resulting in increased demand and consumption of energy and power. According to British Petroleum’s Energy Outlook Report 2019, by 2040, world GDP is expected to double as a result of the growing prosperity of developing economies. The Bank of America estimates that global oil demand will hit a peak in 2030, which augurs well for the global oil and gas pumps market. Furthermore, a report by the International Energy Agency (IEA), global oil demand rose by 1.3% in 2018, primarily led by the US, China, and India. With the trend expected to continue in the approaching decade, the demand for oil and gas pumps is also anticipated to rise during the forecast period.
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Fortune Business Insights, in its report, titled “Oil & Gas Pumps Market Size, Share and Global Trend By Capacity (Low, Medium, High), By Type (Rotary, Reciprocating, Centrifugal), By Application (Onshore, Offshore) and Geography Forecast till 2026,” shares a detailed assessment of the trends that are likely to emerge and shape the market. The report incorporates a comprehensive analysis of the factors and dynamics that will be an important influence on the market during the forecast period.
Fortune Business Insights covers some of the key players in the global oil and gas pumps market:
- Flowserve Corporation
- PCM SA
- Sam Turbo Industry
- NETZSCH Pumps and Systems
- National Pump and Energy
- SPP Pumps
- Gardner Denver
- Wastecorp Pumps
- Verder Ltd
- Enpro Subsea
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Key Market Driver – Modernization of oil and gas industry
Key Market Restraint – Low crude oil prices
Strategic Collaborations to Intensify Market Competition
One of the most preferred strategies adopted by market players is to enter into partnerships with other competitors and strengthen their presence in the global oil and gas pumps market. For instance, DASS Can-K Pumps and Enpro Subsea joined hands in 2019 to deliver multiphase pumping solutions for subsea well boosting. Another prominent measure undertaken by players is technological innovation. For example, in 2018, Validere Technologies, a start-up in Toronto, recently secured seed funding of D7 million to introduce AI and IoT in the oil and gas industry.
Key Segmental Overview:
1. By Sector
2. By Capacity
3. By Construction
- Positive Displacement Pump
- Centrifugal Pump
- Cryogenic Pump
4. By Site
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain and Rest of Europe)
- Asia Pacific (China, India, Japan, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (GCC, South Africa, and Rest of the Middle East & Africa)
The information used is derived from various primary and secondary sources. It also throws light on some of the major players operating in the market. The report studies profiles of these leading companies and their share in the market. It provides insights on some of the strategies adopted by these companies to survive the competition and maintain their stronghold.
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Major Table of Content For Oil & Gas Pumps Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Oil & Gas Pumps Market Analysis, Insights and Forecast, 2026
- North America Oil & Gas Pumps Market Analysis, Insights and Forecast, 2026
- Europe Oil & Gas Pumps Market Analysis, Insights and Forecast, 2026
- Asia Pacific Oil & Gas Pumps Market Analysis, Insights and Forecast, 2026
- The Middle East and Africa Oil & Gas Pumps Market Analysis, Insights and Forecast, 2026
- Latin America Oil & Gas Pumps Market Analysis, Insights and Forecast, 2026
- Competitive Landscape
- Company Profile
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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