Oil and Gas Pumps

Oil and Gas Pumps

Global Oil and Gas Pumps Market to Reach US$12.6 Billion by 2030

The global market for Oil and Gas Pumps estimated at US$8.5 Billion in the year 2023, is expected to reach US$12.6 Billion by 2030, growing at a CAGR of 5.8% over the analysis period 2023-2030. Centrifugal Pumps, one of the segments analyzed in the report, is expected to record a 5.7% CAGR and reach US$8.7 Billion by the end of the analysis period. Growth in the Positive Displacement Pumps segment is estimated at 6.3% CAGR over the analysis period.

The U.S. Market is Estimated at US$2.3 Billion While China is Forecast to Grow at 8.5% CAGR

The Oil and Gas Pumps market in the U.S. is estimated at US$2.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.8 Billion by the year 2030 trailing a CAGR of 8.5% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.2% and 5.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR.

Global Oil and Gas Pumps Market - Key Trends and Drivers Summarized

How Are Oil and Gas Pumps Supporting Hydrocarbon Extraction and Processing?

Oil and gas pumps are essential components in the extraction, transportation, and processing of hydrocarbons, ensuring the efficient movement of crude oil, natural gas, and refined products across various stages of production. These pumps are used in both onshore and offshore operations, serving applications like drilling, water injection, pipeline transportation, and refining. Key types include centrifugal pumps, positive displacement pumps, and submersible pumps, each designed to handle different flow rates, pressures, and fluid types. As the industry moves toward deeper wells, harsher environments, and more complex processing requirements, oil and gas pumps continue to be indispensable for maintaining the flow and safety of operations.

What Are the Key Segments in the Oil and Gas Pumps Market?

Major pump types include centrifugal pumps, positive displacement pumps, and submersible pumps, with centrifugal pumps holding the largest market share due to their widespread use in fluid transfer and processing. In terms of application, pumps are used for drilling operations, water injection, gas lift, refining, and pipeline transportation. End-use sectors encompass upstream, midstream, and downstream operations, with the upstream sector representing the largest segment due to extensive use of pumps in drilling, production, and well intervention activities.

How Are Oil and Gas Pumps Integrated Across Different Operations?

In upstream operations, pumps are used for drilling mud circulation, water injection, and enhanced oil recovery (EOR) techniques, which help maintain well pressure and improve extraction efficiency. In midstream operations, pumps facilitate the transportation of crude oil and natural gas through pipelines, ensuring stable flow rates and pressure management over long distances. Downstream applications include the use of pumps in refineries for processing and distillation, where they handle various hydrocarbons and chemicals at high temperatures and pressures. Additionally, submersible pumps are widely used in offshore operations to extract oil and gas from deepwater wells, minimizing environmental risks and operational costs.

What Factors Are Driving the Growth in the Oil and Gas Pumps Market?

The growth in the Oil and Gas Pumps market is driven by several factors, including the expansion of exploration and production activities, which require efficient pumping solutions for drilling, extraction, and enhanced oil recovery. The increasing development of deepwater and ultra-deepwater reserves has fueled demand for submersible pumps capable of handling extreme pressures and depths. Advancements in pump design, such as the development of corrosion-resistant materials and energy-efficient models, have improved performance and extended pump lifespan, supporting broader adoption. The growing focus on infrastructure development, including pipelines and refining capacity expansion, has further boosted demand for oil and gas pumps. Additionally, the rising adoption of digital monitoring and automation in pumping systems has enhanced operational efficiency, contributing to market growth.

Select Competitors (Total 23 Featured) -

• Alfa Laval AB
• ASTUTEK
• Baker Hughes Co
• Borets International
• ELKAM
• Flowserve Corporation
• Gardner Denver Holdings Inc
• GemmeCotti SRL
• Grundfos Holding A/S
• HMS Livgidromash JSC
• ITT Inc.
• KSB SE & Co. KGaA
• Novomet
• PROMARM
• Pumping Solutions SRL
• Ruhrpumpen Group
• Shenzhen CNHT Limited
• Sulzer AG
• Villina LLC
• Weir Group PLC
• Xavintech Micropumps AB
• Xylem Inc.
• Ydra
• ZBKiT LLC
• Promkhimtech

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