Oil Rotary Pump Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 – 2032

Oil Rotary Pump Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 – 2032

The Global Oil Rotary Pump Market was valued at USD 1 billion in 2023 and is expected to grow at a CAGR of 3.4% over 2024-2032. The market growth is driven by the expanding oil and gas industry, which is increasing the demand for reliable pumps to handle crude oil and refined products. As exploration and production activities expand, the need for efficient oil rotary pumps rises, supporting upstream and downstream operations. These pumps are essential for handling various fluid viscosities and operating under high pressure, making them critical to the industry's infrastructure.

In addition to these activities, the industry's infrastructure is being enhanced to accommodate growing production and processing requirements. This includes the construction of new storage facilities, pipelines, and refineries, where oil rotary pumps play a key role in transferring fluids efficiently. As these infrastructure projects grow, the demand for rotary pumps remains robust, ensuring smooth and reliable operations. Furthermore, the emergence of unconventional oil and gas resources creates new market growth opportunities. These resources, often found in challenging environments, require specialized pumps that can handle extreme conditions and diverse fluid properties, which rotary pumps are well-equipped to manage.

The market is segmented by type, including rotary vane, cam type, and rocking piston pumps. In 2023, the rotary vane segment led the market, accounting for 46% of the total revenue, and is expected to grow at a CAGR of 3.9% during the forecast period. Rotary vane pumps are highly efficient for managing oil and gas applications due to their design, which allows them to maintain a steady flow under various pressure conditions.

Based on material, the market is divided into cast iron, stainless steel, and others. The stainless-steel segment dominated with a 55.3% share in 2023 and is projected to grow at a CAGR of 3.9%. Stainless steel is widely favored for its resistance to corrosion, high temperatures, and harsh chemicals, making it ideal for industrial oil and gas processes.

Asia Pacific emerged as the leading region, contributing 38.1% of the market share in 2023, with an expected CAGR of 3.7%. The region’s rapid industrialization and growing energy needs drive the demand for oil rotary pumps.