Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Oil & Gas Pumps Market to exceed $10.36 Billion by 2023

Industry News

Oil & Gas Pumps Market to exceed $10.36 Billion by 2023

Contributor: MarketsandMarkets

The pumps market, by type, is segmented into centrifugal, positive displacement, and cryogenic pumps. The centrifugal pump segment is projected to grow at the highest CAGR from 2018 to 2023. As centrifugal pumps are widely used for various applications and are preferred for processes that handle low viscosity liquids and high flow rates, these pumps are expected to witness the highest growth rate during the forecast period.  

Request Sample Copy @ 

The report segments the pumps market, by application, into upstream, midstream, and downstream. The midstream segment is expected to grow at the highest CAGR during the forecast period owing to the growth of unconventional resources, which is creating the need for an expanded midstream network of pipelines, rail, tankers, and terminals.  

Target Audience:The report “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”,

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 growth of unconventional resources in the North American, South American, and Asia Pacific regions and development of gas terminals.  

Free PDF Sample Report @ 

Browse 85 market data Tables and 36 Figures spread through 142 Pages and in-depth TOC on “Oil & Gas Pumps Market – Global Forecast to 2023”

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the oil & gas pumps market. The key players include

Some of the key Players in Oil & Gas Pumps Market:

  • Flowserve (US), 
  • Sulzer (Switzerland), 
  • KSB (Germany),
  • Government and research organizations
  • Investment banks
  • Pump manufacturers
  • Raw material suppliers
  • Exploration and production companies
  • National and international drilling associations
  • Rig manufacturers and suppliers

New discoveries of reserves in the African region offer lucrative opportunities for energy & power companies. These companies are venturing in the region to capitalize resource. Pumps are required in upstream, midstream, and downstream activities. These investments are expected to boost the demand for pumps in the region. Pump manufactures are strengthening their sales and distribution network in the region to increase its sales.

The Middle East & African region is estimated to be the fastest growing market for pumps during the forecast period. The region has been segmented, by country, into Saudi Arabia, the UAE, Kuwait, Qatar, Angola, Nigeria, and the rest of the Middle East & Africa. The region has abundant reserves of hydrocarbons and is one of the leading petroleum producing regions in the world. The pumps market in this region is mainly driven by the investments in the oil & gas sectors.  

Make an Inquiry @ 

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Related Articles

Related Whitepapers

Expansion Joint Expertise Improves Industrial Wastewater System Reliability

The majority of industries have wastewater treatment plants. Government agencies and local governments require these facilities to meet pretreatment requirements. Pretreatment rules were enacted to prevent…

How to Decrease Oil Changes with Bearing Isolators [Inforgraphic]

Learning how to decrease oil changes can be time- and money-saving. Oil life can be long if contamination is eliminated, which is easier said than…

Synchronous Machines Are The Optimal Choice For Heavy Industry

TECO-Westinghouse experience assures superior performance and reliability For over a century, Westinghouse has been the pacesetter in the design and production of electric machines for heavy…

Why FLEXXORs Are Designed Differently

J. Hilbert Anderson, President of Coupling Corporation of America, discusses some of the reasons why FLEXXORs are designed differently from all other flexible couplings, and…


Leave a Reply

Your email address will not be published. Required fields are marked *

Join the #PumpTalk Community

By submitting this form, you are consenting to receive marketing emails from: Empowering Pumps & Equipment, 2205-C 7th Street, Tuscaloosa, AL, 35401, You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact