September 24, 2018 - 5:32 AM EDT
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Global Oil & Gas Pumps Market 2015-2018 & Forecast to 2023

Dublin, Sept. 24, 2018 (GLOBE NEWSWIRE) -- The "Oil & Gas Pumps Market by Type (Centrifugal, Positive Displacement (Screw Pumps, Reciprocating Pumps, Rotary & Gear Pumps, Progressive Cavity Pumps), Cryogenic), Application (Upstream, Midstream, Downstream), Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global pumps market in oil & gas industry is projected to reach USD 10.36 billion by 2023 from an estimated USD 8.47 billion in 2018, at a CAGR of 4.12%.

This growth can be attributed to the increasing unconventional resources in the North American, South American, and Asia Pacific regions and development of gas terminals. Fluctuating crude oil prices along with growth in renewable energy can hinder the growth of the market.

The midstream application segment is expected to be the fastest growing market from 2018 to 2023.

The midstream segment is estimated to be the fastest growing during the forecast period. North America is estimated to hold the largest market in the midstream segment, followed by Asia Pacific. Growth of unconventional resources in these regions is creating the need for an expanded midstream network of pipelines, rail, tankers, and terminals, thus, driving the pumps market in oil & gas industry during the forecast period.

Middle East & Africa: The fastest growing market for oil & gas pumps

The Middle East & Africa region is expected to be the third largest pumps market by 2023 and is projected to grow at the highest CAGR during the forecast period. The pumps market in the oil & gas industry in this region is mainly driven by the investments in the oil & gas sectors. The government of Saudi Arabia is taking initiatives to control the oil & gas sector of the country by identifying new oil fields, expanding existing fields, and enhancing production. According to Reuters, Kuwait is expected to witness an investment worth USD 1.1 billion by the Kuwait Foreign Petroleum Corporation in the oil & gas sector to boost its production. Such investments are expected to drive the pumps market in oil & gas industry during the forecast period.

The report defines, describes, and forecasts the global pumps market in oil & gas industry, by type, application, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the pumps market in oil & gas industry.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in the Oil & Gas Pumps Market During the Forecast Period
4.2 Oil & Gas Pumps Market, By Country
4.3 North America Oil & Gas Pumps Market, By Application & Country
4.4 Oil & Gas Pumps Market, By Type

5 Market Overview

5.1 Introduction
5.2 Market Dynamics
5.3 Drivers
5.3.1 Growth of Unconventional Resources in North America, South America, and Asia Pacific
5.3.2 Development of Gas Terminals
5.4 Restraints
5.4.1 Growth in Renewable Energy
5.4.2 Low Oil & Gas Prices
5.5 Opportunities
5.5.1 New Discoveries of Reserves in the African Region
5.6 Challenges
5.6.1 High Level of Competition
5.6.2 Managing Lead Time of Product

6 Oil & Gas Pumps Market, By Type

6.1 Introduction
6.2 Centrifugal Pump
6.3 Positive Displacement Pump
6.3.1 Screw Pump
6.3.2 Reciprocating Pump
6.3.3 Rotary & Gear Pump
6.3.4 Progressive Cavity Pump
6.3.5 Diaphragm Pump
6.3.6 Multi-Plunger Pump
6.3.7 Piston Pump
6.4 Cryogenic Pump

7 Oil & Gas Pumps Market, By Application

7.1 Introduction
7.2 Upstream
7.2.1 Seawater Lift Pump
7.2.2 Water & CO2 Injection
7.2.3 Safety & Firefighting
7.2.4 Gathering & Seperations
7.3 Midstream
7.3.1 Pipeline & Transportation
7.3.2 Terminal
7.3.3 CO2 Pipeline
7.3.4 Others
7.4 Downstream
7.4.1 Primary Processing
7.4.2 Secondary Processing
7.4.3 Storage & Transfer

8 Oil & Gas Pumps Market, By Region

9 Competitive Landscape

9.1 Overview
9.2 Ranking of Players and Industry Concentration, 2017
9.3 Competitive Scenario
9.3.1 Contracts & Agreements, 2015-2018
9.3.2 New Product Developments, 2015-2018
9.3.3 Investments & Expansions, 2015-2018
9.3.4 Mergers & Acquisitions, 2015-2018
9.3.5 Partnerships, 2015-2018

10 Company Profiles

10.1 Alfa Laval
10.2 Flowserve
10.3 Gardner Denver
10.4 GE Oil & Gas
10.5 Grundfos
10.6 HMS
10.7 KSB
10.8 Sulzer
10.9 Weir Group
10.10 Xylem
10.11 Lewa
10.12 Schmitt Kreiselpumpen

For more information about this report visit https://www.researchandmarkets.com/research/kv8m2m/global_oil_and?w=12


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Related Topics: Pumps

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Source: GlobeNewswire (September 24, 2018 - 5:32 AM EDT)

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