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Global Oil and Gas Pumps Market, 2019
With Short-term Economic Setbacks, There is a Need to Curtail Operating Costs and Improve Well Productivity to Solidify Pump Sales and Boost the Adoption of Industrial Internet of Things (IIoT) Based Solutions in the Long Run
17-Mar-2020
Global
Market Research
The aim of this research study is to identify and analyze various market trends impacting and influencing the pumps landscape in the oil and gas industry. Oil price volatility, economic uncertainties, trade conflict, and political tensions have severely affected the investment sentiment in the oil and gas industry. Moreover, the increasing concern toward well productivity and Operational Expenditure (OPEX), especially in shale reserves, has caused momentary roadblocks in the upstream activities. In this study, Frost & Sullivan correlates various political, economic, and technological factors that have a direct impact on the growth of the pumps industry and those that cause a roadblock in pushing order volumes. The sales of pumps is assessed across 3 segments of the oil and gas industry, namely upstream, midstream, and downstream. An in-depth analysis of pumps types that include centrifugal and Positive Displacement (PD) is offered in the study where its impact across regions and the 3 segments of the oil and gas industry is discussed. Furthermore, the competitive assessment of pumps in the oil and gas industry offers insights on the leading market participants and pivotal factors that enable to outperform in this market. Additionally, 5 major growth opportunities are identified for pump manufacturers in the oil and gas industry that will enable to unlock new revenue streams.
This research embraces a specific methodology that includes discussion with the senior management of pump manufacturers both in PD and centrifugal, and oil and gas enterprises and is supported by secondary research.
Research Highlights
- In-depth analysis with market sizing of product segments: centrifugal pumps: single stage, multi stage, axial and mixed, submersible and seal-less and circulator; and positive displacement (PD) pumps: diaphragm, piston, gear, lobe, vane, progressive cavity, screw and peristaltic
- Regional perspective includes North America, Europe, the Middle East and Africa, Asia-Pacific, and Latin America
- End-user market is focused on oil and gas, capturing upstream, midstream, and downstream sectors
- New product capabilities: Energy-efficient pumps, smart pumps and pump monitoring solutions
This research also discusses the role of disruptive technologies, such as Industrial Internet of Things (IIoT) and its role in addressing some of the pressing concerns of oil and gas enterprises such as energy efficiency, cutting down operational costs, enhancing production efficiency, and improving profitability. This study discusses the need for new-age pumps that are embedded with smart and intuitive features enabling plant engineers to redefine plant maintenance strategy by enhancing pump efficiency and its consequent impact on the production throughput. Oil and gas companies, known for their conservative approach, are gradually exploring new methods such as digital transformation, to remain competitive and relevant in this cut-throat business environment. This beginning is expected to be witnessed at plant-level assets and particularly support IoT-based pump solutions that are used in critical operation.
Key Issues Addressed
- What is the market size of pumps in the oil and gas industry? What are its growth prospects in the short, medium, and long terms?
- What are the key drivers and restraints influencing the pump industry growth in oil and gas?
- Which are the key market participants? What is their market share? Is it falling or increasing? How are they differentiating from others?
- Are there any transformational growth opportunities in this mature market? What are they, and how can pump companies capitalize on the same?
- Do existing pump products and associated services offered in the market meet customer requirements? Are there any market gaps? Is there a need for further development?
- What is the future of the pumps industry? Will there be new business models?
?Author: Kiravani Emani
Key Findings
Key Findings (continued)
Market Engineering Measurements
Market Engineering Measurements (continued)
CEO’s Perspective
Research Scope
Key Questions this Study will Answer
Market Segmentation
Market Segmentation (continued)
Market Distribution Channels
Market Drivers
Drivers Explained
Drivers Explained (continued)
Drivers Explained (continued)
Market Restraints
Restraints Explained
Restraints Explained (continued)
Restraints Explained (continued)
Restraints Explained (continued)
Market Engineering Measurements
Market Engineering Measurements (continued)
Forecast Assumptions
Revenue Forecast
Revenue Forecast Discussion
Revenue Forecast by Application
Revenue Forecast Discussion by Application
Oil and Gas Industry—Oil Price Analysis
Oil and Gas Industry—Shift Toward a Carbon Neutral Economy
Oil and Gas Industry—Global Rig Count
Percent Revenue Forecast by Region
Revenue Forecast by Region
Revenue Forecast Discussion by Region
Revenue Forecast Discussion by Region (continued)
Percent Revenue Forecast by Distribution Channel
Percent Revenue Forecast Discussion by Distribution Channel
Market Share
Market Share Analysis
Competitive Environment
Competitive Factors and Assessment
5 Major Growth Opportunities
Growth Opportunity 1—Energy-efficient Pumps
Growth Opportunity 2—Pump Real-time Monitoring
Growth Opportunity 3—New Business Models
Growth Opportunity 4—Industrial Mobility
Growth Opportunity 5—Pump Analytics
Strategic Imperatives for Success and Growth
Mega Trends’ Impact on the Market
Mega Trends’ Impact on the Market (continued)
Mega Trends Explained
Mega Trends Explained (continued)
Centrifugal Pumps Segment Key Findings
Market Engineering Measurements
Revenue Forecast
Revenue Forecast Discussion
Revenue Forecast by Pump Type
Revenue Forecast Discussion by Pump Type
PD Pumps Segment Key Findings
Market Engineering Measurements
Revenue Forecast
Revenue Forecast Discussion
Revenue Forecast by Pump Type
Revenue Forecast Discussion by Pump Type
North America—Key Findings
Revenue Forecast
Revenue Forecast Discussion
Revenue Forecast Discussion (continued)
Europe—Key Findings
Revenue Forecast
Revenue Forecast Discussion
The Middle East and Africa—Key Findings
Revenue Forecast
Revenue Forecast Discussion
Asia-Pacific—Key Findings
Revenue Forecast
Revenue Forecast Discussion
Latin America—Key Findings
Revenue Forecast
Revenue Forecast Discussion
The Last Word—3 Big Predictions
Legal Disclaimer
Market Engineering Methodology
Additional Sources of Information on This Study Topic
List of Companies in “Others”
List of Companies in “Others” (continued)
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
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Research Highlights
- In-depth analysis with market sizing of product segments: centrifugal pumps: single stage, multi stage, axial and mixed, submersible and seal-less and circulator; and positive displacement (PD) pumps: diaphragm, piston, gear, lobe, vane, progressive cavity, screw and peristaltic
- Regional perspective includes North America, Europe, the Middle East and Africa, Asia-Pacific, and Latin America
- End-user market is focused on oil and gas, capturing upstream, midstream, and downstream sectors
- New product capabilities: Energy-efficient pumps, smart pumps and pump monitoring solutions
This research also discusses the role of disruptive technologies, such as Industrial Internet of Things (IIoT) and its role in addressing some of the pressing concerns of oil and gas enterprises such as energy efficiency, cutting down operational costs, enhancing production efficiency, and improving profitability. This study discusses the need for new-age pumps that are embedded with smart and intuitive features enabling plant engineers to redefine plant maintenance strategy by enhancing pump efficiency and its consequent impact on the production throughput. Oil and gas companies, known for their conservative approach, are gradually exploring new methods such as digital transformation, to remain competitive and relevant in this cut-throat business environment. This beginning is expected to be witnessed at plant-level assets and particularly support IoT-based pump solutions that are used in critical operation.
Key Issues Addressed
- What is the market size of pumps in the oil and gas industry? What are its growth prospects in the short, medium, and long terms?
- What are the key drivers and restraints influencing the pump industry growth in oil and gas?
- Which are the key market participants? What is their market share? Is it falling or increasing? How are they differentiating from others?
- Are there any transformational growth opportunities in this mature market? What are they, and how can pump companies capitalize on the same?
- Do existing pump products and associated services offered in the market meet customer requirements? Are there any market gaps? Is there a need for further developm
| Deliverable Type | Market Research |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Kiravani Emani |
| Industries | Industrial Automation |
| WIP Number | K3DC-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9593,9420 |