Increasing Oil & Gas Wells and Shale Discoveries are Fuelling Growth of Fluid End Assembly Market; Valuation to Rise up to ~US$ 14 Bn by 2027-end, Projects TMR
ALBANY, New York, March 10, 2020 /PRNewswire/ -- According to the latest research report published by Transparency Market Research, the global fluid end assembly market was initially valued at around US$9.8 bn in the year 2018. The report states that the market will exhibit a healthy CAGR of ~4% for the assessment period of 2019 to 2027. Given the rate of growth, the valuation of the market is projected to rise up to nearly US$14 Bn by end of 2027.
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Key Findings from the Research Report:
-- The global market for fluid end assembly is broadly segmented based on
type, material, application, and region.
-- Based on type, the market is segmented into quintuplex fluid end abd
triplex fluid end. Of these, the segment of the triplex fluid end led
the global market in 2018. The trend is projected to continue in the
coming years of the forecast period.
-- Based on material, the fluid end assembly market is divided into
stainless steel and carbon steel. Among these, the segment of stainless
steel has been the dominant one in 2018. There is a high demand for
stainless steel because of its long life and superior quality.
-- In terms of application, the global fluid end assembly market is divided
into onshore and offshore applications. The onshore application segment
accounted for a considerable share in the global market in 2018. This
dominance of the segment is due to the presence of substantial number of
wells and relatively lower investment cost compared to the offshore
wells.
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Global Fluid End Assembly Market - Key Driving Factors
-- In recent times, numerous oil and gas well discoveries have been made
all over the world. Moreover, the growth rate of shale discoveries is
also considerably high. For instance, in the peninsula shelf of the Kara
Sea, Russia claims to have discovered around 1.5 billion barrels of oil
equivalent. Another notable example is of ExxonMobil making 14
discoveries in Guyana in the first quarter of 2019.
-- Such discoveries of new gas and oil reserves offer lucrative growth
opportunities for the service providers. This does have a direct
positive impact on the overall development of the fluid end assembly
market.
-- Another important factor that is helping to fuel the growth of the fluid
end assembly market is that the prominent companies are trying to offer
services and solutions that will improve fracture and well replacement
and sizing and staging of frac clusters.
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Fluid End Assembly Market by Type: Triplex Fluid End and Quintuplex Fluid End; Material: Carbon Steel and Stainless Steel; and Application: Onshore and Offshore) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027, at https://www.transparencymarketresearch.com/fluid-end-assembly-market.html
Global Fluid End Assembly Market - Key Restraining Factors
-- Crude oil prices in recent years have dwindled sharply. These prices are
heavily dependent of myriad of factors such weather, geopolitical
developments, and others. This may lead to disruption of supply chain of
oil and gas. Thus, it results in the volatility of in the crude oil
prices.
-- Moreover, the over cost of production of crude oil is also a big factor
that controls the overall prices of the commodity. It is comparatively
less expensive in the Middle East nations such as Iran, UAE, and Saudi
Arabia, than it is in Canada.
-- There are legit concerns about the below average storage capacity of
oil. This is severely hampering incoming investments in the oil and gas
sector. Along with this, there are increasing concerns about the
greenhouse gases and carbon emissions across the globe.
-- All these factors mentioned above are projected to have a restraining
effect on the growth of the global fluid end assembly market.
View Detailed Table of Contents at https://www.transparencymarketresearch.com/report-toc/75209
Global Fluid End Assembly Market - Geographical Outlook
-- North America, Middle East and Africa, Asia Pacific, Europe, and Latin
America are the five main regional segments of the global fluid end
assembly market.
-- Currently, the regional segment of North America is the most dominant
geographical segment of the global fluid end assembly market. The growth
of the market is projected to remain high in the region over the course
of the given period of assessment.
-- Moreover, increasing developments in terms of infrastructure for gas and
oil discoveries in the region is also playing an important role in its
growing dominance.
-- The US has been the key contributor for the development of North America
region, followed by Canada.
-- On the other hand, the regional segment of Asia Pacific is expected to
present a myriad of lucrative development opportunities for its fluid
end assembly market. Increasing consumption of oil and gas, particularly
in developing nations such as India, Indonesia, and China are expected
to drive growth of the region.
Analyze Fluid End Assembly market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
Global Fluid End Assembly Market - Key Market Players
Some of the prominent market players in the global fluid end assembly market are Halliburton, The Weir Group PLC, Forum Energy Technologies, Gardner Denver, Inc, EnTrans International, LLC, and Alco Group.
Global Fluid End Assembly Market: Segmentation
Fluid End Assembly Market, by Type
-- Triplex Fluid End
-- Quintuplex Fluid End
Fluid End Assembly Market, by Material
-- Carbon Steel
-- Stainless Steel
Fluid End Assembly Market, by Application
-- Onshore
-- Offshore
Fluid End Assembly Market, by Region
-- North America
-- U.S.
-- Canada
-- Europe
-- Germany
-- France
-- U.K.
-- Italy
-- Spain
-- Russia
-- Rest of Europe
-- Asia Pacific
-- China
-- India
-- Japan
-- ASEAN
-- Rest of Asia Pacific
-- Latin America
-- Brazil
-- Mexico
-- Rest of Latin America
-- Middle East & Africa
-- GCC Countries
-- South Africa
-- Rest of Middle East & Africa
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