Dublin, Dec. 16, 2024 (GLOBE NEWSWIRE) -- The "Oil and Gas Pumps - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Oil and Gas Pumps was estimated at US$8.5 Billion in 2023 and is projected to reach US$12.6 Billion by 2030, growing at a CAGR of 5.8% from 2023 to 2030.
What Factors Are Driving the Growth in the Oil and Gas Pumps Market?
The growth in the Oil and Gas Pumps market is driven by several factors, including the expansion of exploration and production activities, which require efficient pumping solutions for drilling, extraction, and enhanced oil recovery. The increasing development of deepwater and ultra-deepwater reserves has fueled demand for submersible pumps capable of handling extreme pressures and depths.
Advancements in pump design, such as the development of corrosion-resistant materials and energy-efficient models, have improved performance and extended pump lifespan, supporting broader adoption. The growing focus on infrastructure development, including pipelines and refining capacity expansion, has further boosted demand for oil and gas pumps. Additionally, the rising adoption of digital monitoring and automation in pumping systems has enhanced operational efficiency, contributing to market growth.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Centrifugal Pumps segment, which is expected to reach US$8.7 Billion by 2030 with a CAGR of a 5.7%. The Positive Displacement Pumps segment is also set to grow at 6.3% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $2.3 Billion in 2023, and China, forecasted to grow at an impressive 8.5% CAGR to reach $2.8 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Oil and Gas Pumps Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Oil and Gas Pumps Market such as Alfa Laval, ASTUTEK, Baker Hughes, Borets International, ELKAM and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 23 companies featured in this Global Oil and Gas Pumps market report include:
- Alfa Laval
- ASTUTEK
- Baker Hughes Co
- Borets International
- ELKAM
- Flowserve Corporation
- Gardner Denver Holdings
- GemmeCotti SRL
- Grundfos Holding
- HMS Livgidromash JSC
- ITT
- KSB
- Novomet
- PROMARM
- Pumping Solutions SRL
- Ruhrpumpen Group
- Shenzhen CNHT
- Sulzer
- Villina
- Weir Group
- Xavintech Micropumps
- Xylem Inc.
- Ydra
- ZBKiT
- Promkhimtech
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 84 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $8.5 Billion |
| Forecasted Market Value (USD) by 2030 | $12.6 Billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Global Economic Update
- Oil and Gas Pumps - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Demand for Enhanced Oil Recovery (EOR) Spurs Growth in Oil and Gas Pumps Market
- Technological Advancements in Pump Efficiency and Reliability Strengthen Business Case for Adoption
- Growing Focus on Subsea Pumping and Deepwater Extraction Expands Addressable Market
- Expansion of Oil and Gas Pumps in Onshore, Offshore, and Midstream Applications Fuels Market Growth
- Increasing Adoption of Centrifugal, Reciprocating, and Gear Pumps in Refining and Processing Expands Market Opportunities
- Technological Innovations in Multi-Phase Pumps, Submersible Pumps, and Electric Submersible Pumps (ESPs) Propel Market Expansion
- Rising Focus on Reducing Energy Consumption and Emissions Drives Demand for Advanced Pumps
- Growing Use of Pumps in Hydraulic Fracturing, Water Injection, and Gas Boosting Expands Market Potential
- Rising Adoption of Intelligent Pumps with Integrated Sensors and Real-Time Monitoring Expands Addressable Market
- Increasing Focus on Integrating Pumps with Automation and Control Systems Drives Adoption
- Rising Demand for Oil and Gas Pumps in Downstream, Midstream, and Upstream Operations Strengthens Global Market
- Expansion of Pumps in LNG Terminals, Floating Production Systems, and Subsea Tie-Backs Expands Market Opportunities
GLOBAL MARKET PERSPECTIVE
FOCUS ON SELECT PLAYERS
- Alfa Laval
- ASTUTEK
- Baker Hughes Co
- Borets International
- ELKAM
- Flowserve Corporation
- Gardner Denver Holdings
- GemmeCotti SRL
- Grundfos Holding
- HMS Livgidromash JSC
- ITT
- KSB
- Novomet
- PROMARM
- Pumping Solutions SRL
- Ruhrpumpen Group
- Shenzhen CNHT
- Sulzer
- Villina
- Weir Group
- Xavintech Micropumps
- Xylem Inc.
- Ydra
- ZBKiT
- Promkhimtech
For more information about this report visit https://www.researchandmarkets.com/r/q5z5w6
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