8:35 AM Oil & Gas Pumps Market Size to experience an impressive growth of 4.4% |
| Oil & gas pumps marketis likely to witness an impressive CAGR of 4.4% during the forecast period. Increasing unconventional resources in North America, South America, and the Asia-Pacific region along with the development of gas terminals are the major factors driving the growth of the market.
Click here to get a Free Sample of the report (with additional insights) Or Read the summary of the report here Oil & Gas Pump Market Insights: By Type: Based on the type, the market is segmented as centrifugal pump, positive displacement pump, and cryogenic pump. The centrifugal pump segment is estimated to lead the market during the forecast period. Centrifugal pumps are preferred for the processes that handle low viscosity fluids and high flow rates. They are employed in a wide array of applications, such as electric submersible pumps which are used as a water and oil separator. Further, by using submersible pumps the water separated from oil can be reinjected into a reservoir without lifting it to the ground surface. By Application Type: Based on the application type, the market is segmented as upstream, midstream, and downstream. The midstream segment is expected to dominate the market during the forecast period. Growth of unconventional resources has led to the need for expanded midstream network of pipelines, rails, tankers, and terminals for ease in transportation, which is the major factor behind the dominance of the midstream segment. By Region: In terms of regions, North America is estimated to be the largest market for oil & gas pumps during the forecast period. The market is driven by the increasing use of alternative resources in the region. Growth in unconventional resources mainly in the US and Canada along with the growing demand from onshore & offshore fields in the Gulf of Mexico are the major factors behind the dominance of North America in the oil & gas pumps market. Europe and Asia-Pacific are also expected to offer substantial growth opportunities to the industry players owing to the rising energy requirement in both the regions. Click below to run through the detailed ToC of the report Features of the Report This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. Based on the research, a proper report is crafted with the following key features:
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