Oil & Gas Pumps Market is estimated to be US$ 12.01 billion by 2030 with a CAGR of 6.2% during the forecast period

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Published Date: May 2023

Pumps are essential components of the oil and gas industry, whether they are used in upstream, midstream or downstream stages, pumps provide enough energy to move gas, oil and other liquids from one place to another. Centrifugal, oil, positive displacement, oil transfer, diaphragm and petrochemical pumps are required to transport oil from the ground to tankers, then to the refinery and then to storage. Centrifugal pumps are the most common type of industrial pumps used in the oil and gas industry, centrifugal pumps consist of one or more rotating impellers that draw fluid into the suction end of the pump and expel it through the discharge end using centrifugal force. Various types of pumps are used in the oil and gas industry, the oil and gas industry works on the ability to transfer liquids and gases from one place to another and pumps play an important role in this, thus refineries cannot function without pumps to meet the pumping needs. Pumps in the oil and gas industry depend on a wide variety of requirements. Pumps play important role in many applications among oil and gas sector, pumps are used for methanol injection, glycol pumping, chemical processing, gas sweetening and water disposal. Pumps offer an efficient solution for transporting chemicals. Each type of pump is integrated into the refining system for a specific purpose and is crucial in transporting or refining various fluids. Pumps are classified into two basic types based on the way they transmit energy to the pumped fluid: kinetic or positive displacement. Pumps are used in every stage of the oil and gas industry, from oil and gas exploration to refining, a different type of pump in every stage of the oil and gas industry, the failure of traditional pumping systems has led to the rise of smart pumping. Oil and gas pump refers to a machine that is an internal combustion engine that transfers engine oil from one point to another by circulating engine oil under pressure, bearings, sliding pistons and camshafts that rotate the engine, oil and gas pumps are used in oil and oil, Gas industry for transferring lubricants, gases and other liquids. Increasing consumption of natural gas, along with government policies related to natural gas, increased investment in liquefied natural gas supply infrastructure in some key markets, will significantly boost the sales of pumps in the midstream segment. The continuous increase in demand for oil due to increasing population and industrialization has increased the demand for pumps for various applications in the oil and gas industry. However, the development of oil and gas pipeline infrastructure is expected to drive the market for oil and gas pumps during the forecast period.

The report “Oil & Gas Pumps Market, By Type (Submersible, Non-submersible), By Pump Type (Centrifugal Pumps (Single stage, Multi-Stage, Axial and Mixed, Submersible, Seal less and Circular), Positive Displacement (Screw Pumps, Reciprocating Pumps( Piston, Plunger, Diaphragm), Rotary & Gear Pumps, Progressive Cavity Pumps), Cryogenic), By Capacity (Small, Medium, High), By Pump Characteristics (Engineered Pump, Standard Pumps, Special Purpose Pumps), By Deployment Type ( Onshore, Offshore), By Application (Upstream, Midstream, Downstream), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends Analysis and Forecast till 2032 “

Key Highlights:

In March 2022, Flowserve Corporation, a leading supplier of flow control products and services to the global infrastructure markets, announced the launch of its new Energy Advantage program – a holistic flow control approach aimed at helping customers reach their carbon reduction goals at the lowest cost of ownership.
In May 2022, KSB Limited launched all new 'Aqua Series' pumps to strengthen its domestic product basket. This new AQUA series is available in the range of 0.5 HP-1.5 HP, with high efficiency with flow rates up to 4,400 LPH and heads up to 66 meters.
In October 2018, Denver Petroleum and Industrial Pumps announced the launch of GDNX, the next generation of fluid end technology, specifically designed to extend the operational service life of fluid ends used in hydraulic fracturing applications.

Analyst View:

The oil and gas industry supports millions of American jobs, lowers energy costs for consumers, and ensures energy security. Basically, they help transfer process fluid from one point to another, for example a pump can be used to transfer crude oil from a storage tank to a pipeline, and a mud pump is used to circulate drilling mud in an annulus. Back to drill bits and storage tanks for further refining. Applications of pumps in the industrial sector are vast, such as moving process chemicals to support manufacturing processes, boiler feed, pressure boosting, filtration and many other functions. Pumps are used for irrigation, water supply, gasoline, air conditioning, refrigeration (commonly called compressors), chemical movement, sewage movement, flood control, marine services, etc. Applications of pumps in the industrial sector are vast, such as moving process chemicals to support manufacturing processes, boiler feed, pressure boosting, filtration and many other functions. The primary purpose of an oil pump is to circulate engine oil under pressure to bearings, pistons, and camshafts, which lubricates these systems, allows the use of high-capacity fluid bearings, and helps cool the engine.

Browse 60 market data tables and 35 figures* through 140 slides and in-depth TOC on* “Oil & Gas Pumps Market, By Type (Submersible, Non-submersible), By Pump Type (Centrifugal Pumps (Single stage, Multi-Stage, Axial and Mixed, Submersible, Seal less and Circular), Positive Displacement (Screw Pumps, Reciprocating Pumps( Piston, Plunger, Diaphragm), Rotary & Gear Pumps, Progressive Cavity Pumps), Cryogenic), By Capacity (Small, Medium, High), By Pump Characteristics (Engineered Pump, Standard Pumps, Special Purpose Pumps), By Deployment Type (Onshore, Offshore), By Application (Upstream, Midstream, Downstream), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”

Key Market Insights from the report:

Oil & Gas Pumps Market accounted for US$ 7.4 billion in 2022 and is estimated to be US$ 12.9 billion by 2032 and is anticipated to register a CAGR of 7.5%. The Oil & Gas Pumps Market is segmented based on Type, Pump Type, Capacity, Deployment Type, Application and Region.

Based on Type, Oil & Gas Pumps Market is segmented into Submersible, Non-submersible.
Based on Pump Type, Oil & Gas Pumps Market is segmented into Centrifugal Pumps (Single stage, Multi-Stage, Axial and Mixed, Submersible, Seal less and Circular), Positive Displacement (Screw Pumps, Reciprocating Pumps (Piston, Plunger, and Diaphragm), Rotary & Gear Pumps, and Progressive Cavity Pumps), and Cryogenic.
Based on Capacity, Oil & Gas Pumps Market is segmented into Small, Medium, and High.
Based on Pump Characteristics, Oil & Gas Pumps Market is segmented into Engineered Pump, Standard Pumps, and Special Purpose Pumps.
Based on Deployment type, Oil & Gas Pumps Market is segmented into Onshore, Offshore.
Based on Application, Oil & Gas Pumps Market is segmented into Upstream, Midstream, and Downstream.
By Region, the Oil & Gas Pumps Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Oil & Gas Pumps Market:

The prominent players operating in the Oil & Gas Pumps Market includes, Alfa Laval SpA, Flowserve Corporation, Gardner Denver Petroleum Pumps LLC, GE Oil & Gas Inc., Grundfos Pumps Corporation, HMS pumps OJSC, KSB Limited, Sulzer Pumps India Ltd, Weir Group Inc., and Xylem Inc. The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period