Explore the Oil & Gas Pumps Market Analysis | By Company Profiles | Size | Share | Growth | Trends and Forecast To 2025

The global oil & gas pumps market is projected to reach USD 9.0 billion by 2025 from an estimated USD 6.6 billion in 2020, at a CAGR of 6.4% during the forecast period. Continuous shale development activities and the development of gas terminals are the key factors driving the growth of the oil & gas pumps market. Likewise, the development of pipeline infrastructure in Asia Pacific and the Middle East and the discovery of new reservoirs in the African region are expected to offer lucrative opportunities for the oil & gas pumps market during the forecast period. 

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The Asia Pacific oil & gas pumps market is expected to grow at the highest CAGR during the forecast period. The region is further segmented into China, Japan, India, South Korea, Australia, and Rest of Asia Pacific. The market in China is expected to grow as it is one of the major importers of oil and its domestic demand surpasses its production. The demand for oil products in the Asia Pacific region is rapidly increasing as the region experiences strong economic growth. The region has less than 9.0% of the world’s proven reserves, implying a high rate of redevelopment and rehabilitation of oilfields. Substantial economic growth and the demand for oil & gas have led to an increase in offshore oil & gas E&P in the region. The increasing activities in deeper and more remote waters in the Philippines and Myanmar are expected to meet the growing energy demand. According to the BP Statistical Review of World Energy 2020, Asia Pacific accounted for 44.1% share of global primary energy consumption.

This research report categorizes the Oil & gas pumps market-based on type, pump type, application, and region

Based on type, the Oil & gas pumps market has been segmented as follows:

• Submersible Pumps
• Non-submersible Pumps

Based on pump type, the Oil & gas pumps market has been segmented as follows:

• Centrifugal Pump
• Positive Displacement Pump
  • Screw Pump
  • Reciprocating pump
    • Diaphragm pump
    • Multi-plunger pump
    • Piston pump
  • Rotary & Gear pump
  • Progressive Cavity pump
• Cryogenic Pump

Based on application, the Oil & gas pumps market has been segmented as follows:

• Upstream
• Midstream
• Downstream

Based on the region, the Oil & gas pumps market has been segmented as follows:

• North America
• Asia Pacific
• South America
• Europe
• Middle East & Africa

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The oil & gas pumps market, by pump type, is segmented into centrifugal, positive displacement, and cryogenic pumps. The centrifugal pump segment is projected to grow at the highest CAGR from 2020 to 2025. 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.  

The report segments the oil & gas 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.  

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.

Browse related reports:

Centrifugal Pump Market by Type (Overhung Impeller, Vertically Suspended, Between Bearing), Operation Type (Electric, Hydraulic, Air Driven), Stage (Single Stage, Multistage), End-User (Industrial, Commercial, Residential), Region- Global Forecast to 2026

Diaphragm Pumps Market by Mechanism (Air Operated and Electrical Operated), by Operation (Single Acting and Double Acting), by Discharge Pressure (Up to 80 bar, 80 to 200 bar & above 200 bar), by End User & by Region - Global Trends & Forecast to 2021

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Comprehensive Report on PXI SMU Market Set to Witness Huge Growth by 2024

Latest report, "PXI SMU Market by Channel (1, 2, 4, >4) Application (Semiconductor, Sensor, LED, Green Energy Product, Nanomaterial, Organic & Printed Electronics), End-User (Aerospace, Defense & Government Service, IT & Telecommunication), Region - Global forecast to 2024" The global PXI SMU market size is expected to grow from an estimated USD 124 million in 2019 to USD 267 million by 2024, at a CAGR of 16.5%, during the forecast period. Increasing demand for reliability tests for complex semiconductors and batteries to complement the expanding IoT devices is driving the PXI SMU industry growth.

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The semiconductor segment is expected to hold the largest PXI SMU market share during the forecast period.

The semiconductors application segment is expected to grow at a higher CAGR during the forecast period. The higher manufacturing rate of semiconductors for complying demand from end-use industries drives the requirement for PXI SMUs.

As the devices are getting smarter and software-centric, the semiconductor industry is focused on transformations in their basic IC designing and their testing to make these semiconductors more robust and reliable. Semiconductor technology requirements often overtake the test coverage that traditional approaches offer for analog, mixed-signal, and RF test. PXI SMUs are used for semiconductor testing as these are a smarter alternative to conventional source measure units to meet cost and coverage requirements of increasingly complex RF and mixed-signal ICs.

North America is expected to be the fastest-growing region in the PXI SMU market during the forecast period

In this report, the PXI SMU industry has been analyzed for five regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The North American market is expected to grow at the fastest CAGR in the global PXI SMU industry during the forecast period. North America is anticipated as the fastest-growing PXI SMU industry due to the high adoption of modular test & measurement equipment in the R&D facilities.

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To enable an in-depth understanding of the competitive landscape, the report covers the profiles of some of the top players in the PXI SMU market including National Instruments (US), Keysight Technologies (US), Chroma ATE (Taiwan), VX Instruments (Germany), Marvin Test Solutions (US), and LitePoint a Teradyne Company (US). The leading players are trying to enter the market of developing economies and are adopting new product launches as a major strategy to increase their market shares.

Key Questions Addressed by the Report:

• The report identifies and addresses the key segments of the PXI SMU market, which will help manufacturers and service providers review the growth in demand.
• The report helps system providers understand the pulse of the market and provides insights regarding the drivers, restraints, opportunities, and challenges.
• The report will help key players understand the strategies of their competitors better and make more pivotal strategic decisions.
• The report addresses the market share analysis of key players in the PXI SMU market, and with the help of this, companies can enhance their revenues in the respective markets.
• The report provides insights about emerging geographies for PXI SMU, and hence, the entire market ecosystem can gain a competitive advantage.

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, "Knowledgestore" 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.

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Residential Energy Storage Industry to 2024 – Market Driven by the Rising Use of Electric Vehicle

Latest report, the "Residential Energy Storage Market by Power Rating (3–6 kW & 6–10 kW), Connectivity (On-Grid & Off-Grid), Technology (Lead–Acid & Lithium-Ion), Ownership (Customer, Utility, & Third-Party), Operation (Standalone & Solar), Region - Global Forecast to 2024", is projected to reach USD 17.5 billion by 2024 from an estimated USD 6.3 billion in 2019, at a CAGR of 22.88% during the forecast period. This growth can be attributed to factors such as declining cost of batteries, regulatory support and financial incentives, and the need for energy self-sufficiency from consumers. Residential energy storage systems provide backup power during power outages, and therefore, play a vital role in the energy industry.

The 3–6 kW segment is expected to hold the largest share of the residential energy storage market, by power rating, during the forecast period.

The 3–6 kW segment is projected to be the largest market during the forecast period. This is mainly because of the increase in the need for power backup during natural disasters. Furthermore, consumers and governments install small storage solutions that can be utilized in times of need to avoid a major electricity crisis, which is also contributing to the growth of the market.

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The customer owned segment is expected to be the fastest growing residential energy storage market, by ownership type, during the forecast period.

The customer owned segment is expected to account for the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing need for energy self-sufficiency and rising demand for power backup. This is expected to increase the demand for the residential energy storage market during the forecast period. In addition to this, there is a rising demand for modular energy storage infrastructure in residential areas in developed countries such as the US, the UK, Germany, Norway, and China, which is driving the growth of the residential storage market.

This research report categorizes the global market on the basis of power rating, operation type, technology, ownership type, connectivity type, and region.

On the basis of power rating:

• 3–6 kW
• 6–10 kW

On the basis of operation type:

• Standalone systems
• Solar and storage

On the basis of technology:

• Lithium-ion
• Lead–Acid

On the basis of ownership type:

• Customer owned
• Utility owned
• Third-party owned

On the basis of connectivity type:

• On-grid
• Off-grid

On the basis of region:

• Asia Pacific
• North America
• Europe
• Middle East & Africa
• South America

Asia Pacific: The leading residential energy storage market.

In this report, the residential energy storage market has been analyzed with respect to 5 regions, namely, North America, South America, Europe, Asia Pacific, and the Middle East & Africa. Asia Pacific dominated the global residential energy storage market in 2018, owing to the installation of storage solutions for residential end-users. Over the past few years, this region has witnessed rapid economic development as well as the growth of renewables and demand for energy self-sufficiency, which has resulted in an increase in the demand for energy storage options. Countries such as Australia and some parts of India and China are also providing subsidies and financial incentives to residential consumers. This movement toward solar and storage is resulting in grid stabilization and greener countries with lower carbon emissions, thereby driving the residential energy storage market.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the residential energy storage market. Some of the key players are Huawei (China), Samsung SDI Co. Ltd. (South Korea), Tesla (US), LG Chem (South Korea), and SMA Solar Technology (Germany). The leading players are adopting various strategies to increase their share in the residential energy storage market.

Don’t miss out on business opportunities in Residential Energy Storage Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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, "Knowledgestore" 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.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com