Global Oil & Gas Pumps Market to 2023 - Leading Players are Flowserve, Sulzer, KSB, Weir Group and Grundfos

DUBLIN, Sept. 24, 2018 /PRNewswire/ --

The "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" report has been added to ResearchAndMarkets.com's offering.

https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

The global oil & gas pumps market is projected to reach a market size of USD 10.36 billion by 2023, at a CAGR of 4.12% from an estimated USD 8.47 billion in 2018.

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 pumps market in oil & gas industry, by type, is segmented into centrifugal, positive displacement, and cryogenic pumps. The centrifugal pumps segment is expected to hold the largest market share by 2023 as these 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; for example, electrical submersible pumps are used as a water and oil separator, in which water can be reinjected into a reservoir without lifting it to the ground surface. The ability of these pumps to be used across various applications has resulted in their higher market share.

The report segments the pumps market in oil & gas industry, by application, into upstream, midstream, and downstream. The midstream segment is expected to dominate the oil & gas pumps market by 2023 owing to the growth of unconventional resources, which is creating the need for an expanded midstream network of pipelines, rail, tankers, and terminals.

In this report, the oil & gas pumps market 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 be the largest oil & gas pumps market from 2018 to 2023.

The pumps market in the oil & gas industry in North America would be mainly driven by 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 pumps market positively during the forecast period.

Oil & Gas Pumps Market

Fluctuating crude oil prices along with growth in renewable energy could act as a restraint for the pumps market in oil & gas industry. Growth in renewable energy is expected to be one of the biggest restraining factors for the pumps market as it reduces the cost of power generation and rising concerns on carbon emission. These factors are expected to reduce the dependency of countries on fossil fuels and are acting as restraints to the pumps market.

Further, the fluctuations in crude oil prices have reduced the upstream operator's capex spending for new fields as crude oil prices have been seen to witness a constant fluctuation over the past 4 years. Therefore, if it becomes less lucrative for oil & gas companies, the operators may suspend their capacity expansion plans. This is likely to affect the demand for new pumps in the oil & gas industry.

The leading players in oil & gas pumps market are Flowserve (US), Sulzer (Switzerland), KSB (Germany), Weir Group (UK), and Grundfos (Denmark). Contracts & agreements was the most commonly adopted strategy by the top players. This was followed by new product developments and investments & expansions.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in the Oil & Gas Pumps Market During the Forecast Period
4.2 Oil & Gas Pumps Market, By Country
4.3 North America Oil & Gas Pumps Market, By Application & Country
4.4 Oil & Gas Pumps Market, By Type

5 Market Overview

5.1 Introduction
5.2 Market Dynamics
5.3 Drivers
5.3.1 Growth of Unconventional Resources in North America, South America, and Asia Pacific
5.3.2 Development of Gas Terminals
5.4 Restraints
5.4.1 Growth in Renewable Energy
5.4.2 Low Oil & Gas Prices
5.5 Opportunities
5.5.1 New Discoveries of Reserves in the African Region
5.6 Challenges
5.6.1 High Level of Competition
5.6.2 Managing Lead Time of Product

6 Oil & Gas Pumps Market, By Type

6.1 Introduction
6.2 Centrifugal Pump
6.3 Positive Displacement Pump
6.3.1 Screw Pump
6.3.2 Reciprocating Pump
6.3.3 Rotary & Gear Pump
6.3.4 Progressive Cavity Pump
6.3.5 Diaphragm Pump
6.3.6 Multi-Plunger Pump
6.3.7 Piston Pump
6.4 Cryogenic Pump

7 Oil & Gas Pumps Market, By Application

7.1 Introduction
7.2 Upstream
7.2.1 Seawater Lift Pump
7.2.2 Water & CO2 Injection
7.2.3 Safety & Firefighting
7.2.4 Gathering & Seperations
7.3 Midstream
7.3.1 Pipeline & Transportation
7.3.2 Terminal
7.3.3 CO2 Pipeline
7.3.4 Others
7.4 Downstream
7.4.1 Primary Processing
7.4.2 Secondary Processing
7.4.3 Storage & Transfer

8 Oil & Gas Pumps Market, By Region

8.1 Introduction
8.2 North America
8.2.1 By Type
8.2.2 By Application
8.2.3 By Country
8.2.4 US
8.2.5 Canada
8.2.6 Mexico
8.3 Asia Pacific
8.3.1 By Type
8.3.2 By Application
8.3.3 By Country
8.3.3.1 China
8.3.3.2 Japan
8.3.3.3 India
8.3.3.4 South Korea
8.3.3.5 Australia
8.3.4 Rest of Asia Pacific
8.4 Europe
8.4.1 By Type
8.4.2 By Application
8.4.3 By Country
8.4.3.1 Russia
8.4.3.2 Germany
8.4.3.3 UK
8.4.3.4 Norway
8.4.3.5 France
8.4.3.6 Italy
8.4.3.7 Rest of Europe
8.5 Middle East & Africa
8.5.1 By Type
8.5.2 By Application
8.5.3 By Country
8.5.3.1 Saudi Arabia
8.5.3.2 UAE
8.5.3.3 Kuwait
8.5.3.4 Qatar
8.5.3.5 Angola
8.5.3.6 Nigeria
8.5.3.7 Rest of Middle East & Africa
8.6 South America
8.6.1 By Type
8.6.2 By Application
8.6.3 By Country
8.6.3.1 Brazil
8.6.3.2 Argentina
8.6.3.3 Venezuela
8.6.3.4 Rest of South America

9 Competitive Landscape

9.1 Overview
9.2 Ranking of Players and Industry Concentration, 2017
9.3 Competitive Scenario
9.3.1 Contracts & Agreements, 2015-2018
9.3.2 New Product Developments, 2015-2018
9.3.3 Investments & Expansions, 2015-2018
9.3.4 Mergers & Acquisitions, 2015-2018
9.3.5 Partnerships, 2015-2018

10 Company Profiles

10.1 Alfa Laval
10.2 Flowserve
10.3 Gardner Denver
10.4 GE Oil & Gas
10.5 Grundfos
10.6 HMS
10.7 KSB
10.8 Sulzer
10.9 Weir Group
10.10 Xylem
10.11 Lewa
10.12 Schmitt Kreiselpumpen

For more information about this report visit

https://www.researchandmarkets.com/research/3f3pkg/global_oil_and?w=5

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

View original content:http://www.prnewswire.com/news-releases/global-oil--gas-pumps-market-to-2023---leading-players-are-flowserve-sulzer-ksb-weir-group-and-grundfos-300717480.html

SOURCE Research and Markets