Oil & Gas Pumps Market, By Type (Centrifugal, Positive Displacement (Screw Pumps, Reciprocating Pumps, Rotary & Gear Pumps, Progressive Cavity Pumps), Cryogenic), By Application (Upstream, Midstream, Downstream), and By Region (North America, Latin America, Europe, Middle East, Asia Pacific, and Africa) - Trends, Analysis and Forecast till 2030

Oil & gas pumps market accounted for US$ 6.6 billion in 2020 and is estimated to be US$ 12.01 billion by 2030 and is anticipated to register a CAGR of 6.2%.

Pumps are important component of the oil and gas industry. From delivering oil from the ground to a ship, oil refinery, or storage to speeding up the fluid flow from one point to another, pumps are used in various ways in the oil and gas industry. A centrifugal pump is the most common type of pump used in the oil & gas industry. It comprises one or more impellers, which move fluids by rotation and draw them into the suction end of the pump and then, through centrifugal force, push the fluid towards the end. There are two types of gear pumps. External and Internal gear pump. The centrifuged pumps are designed for wide range of applications and is preferred to handle low viscosity liquids and high flow rates. The main purpose of pumps is to circulate engine oils under the pressure to the bearings, pistons and the camshaft. Refineries pumps are used to transport petroleum and its derived products in refineries, petrochemical plants and the chemical industry.  They are used in temperature ranges from 120°C to 450°C at pressure of about 65 bar.

Rising oil and gas demand

Growing development in gas terminals across the globe, coupled with the growing oil and gas sectors are some factors expected to drive growth of the global oil & gas pumps market, in the near future. Moreover, development in transportation sector worldwide also fuel the growth of this specific market. Increasing fuel charges and taxes are another key driver of the target market. Rising fuel production by major market players to meet the global demand is the propelling the growth of the market. Additionally, government initiatives and policies on supply of the gas directly the house also boost the global oil & gas pumps market.

However, fluctuating prices associated with crude oil, coupled with growing sector of renewable energy are major factors expected to hamper growth of the global oil & gas pumps market over the forecast period.

Oil & gas pumps market is segmented based on type, application, and region.

The type segment includes centrifugal, positive displacement (screw pumps, reciprocating pumps, rotary & gear pumps, progressive cavity pumps), cryogenic. The application segment is further sub segmented into upstream, midstream, downstream.

Regional Insights:

The global oil & gas pumps market accounted for US$ 6.6 billion in 2020 and is estimated to be US$ 12.01 billion by 2030 and is anticipated to register a CAGR of 6.2%. On region the global oil & gas pumps market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America currently dominates the market for oil & gas pumps and is expected to continue its strong hold for a few more years owing to growing unconventional resources in the countries such as us and Canada, of the region. The markets in Asia-Pacific and Europe are expected to register high growth rate, owing to the increasing adoption from oil and gas sectors in the countries of the region, over the forecast period

Oil Gas Pumps Market Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global oil & gas pumps market report based on type, application, and region.

Oil & Gas Pumps Market, By Region:

• North America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • U.S.
  • Canada

The key players operating in the global 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.

Gardner Denver Petroleum Pumps LLC:

GD, the global provider of high-pressure pumps, parts and services, has expanded its suite of pump offerings for the horizontal directional drilling (HDD) market with new GD 800HDD pump.

• 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.
• Xylem Inc.