Description

The study analyzes current and future trends in the European pumps market in the oil and gas industry. The pumps market in oil and gas industry is concentrated in countries mostly around the North Sea. With the economic recession of 2008-2009, most projects in Europe were put on hold. The way forward to revive the industry is deep sea exploration which will need considerable investments as well as government initiative. This study determines the impact of the recession on this market. Each type of centrifugal and positive displacement pump has been discussed and analyzed. Product trends across various application sectors are included. Market drivers and restraints along with the industry challenges are discussed.