Oil and Gas Pump Market Synopsis

Global Oil and Gas Pump Market Size Was Valued at USD 11.84 Billion in 2022 and is Projected to Reach USD 18.31 Billion by 2030, Growing at a CAGR of 5.6% From 2023-2030.

Oil and gas pumps are essentially mechanical devices designed to transfer process fluids within the petroleum industry. These pumps facilitate the movement of substances such as crude oil and drilling mud, playing a crucial role in processes like oil extraction, refining, and transportation. Centrifugal pumps, gear pumps, and submersible pumps are common types used, each serving specific purposes in the efficient handling and transfer of various fluids in the oil and gas sector.

  • Oil and gas pumps find extensive applications across diverse operations within the industry, playing crucial roles in various functions. These pumps are indispensable for circulating drilling mud during oil extraction, ensuring efficient lubrication and cooling of the drill bit annulus. They also play a key role in the injection of chemicals like methanol for different purposes, gas-sweetening processes, and water disposal. The pumps' ability to handle challenging conditions, including the passage of woody debris and foreign material in sediments without clogging, highlights their reliability in demanding scenarios.
  • The advantages of oil and gas pumps are manifold. Their efficient design and robust construction enable reliable and consistent fluid transfer, contributing to the smooth operation of critical processes. Furthermore, ongoing advancements in pump technology enhance their performance, durability, and ease of maintenance. As industries increasingly recognize these benefits, the demand for oil and gas pumps continues to rise, propelling growth in the sector and ensuring the sustained efficiency of fluid-handling operations.

Oil and Gas Pump Market Trend Analysis:

Increasing demand for Centrifugal Pumps

  • The increasing need for centrifugal pumps emerges as a key factor driving the expansion of the Oil and Gas Pump Market. Centrifugal pumps have become indispensable in the oil and gas sector due to their versatility and efficiency in fluid transfer applications. These pumps operate by employing one or more rotating impellers to draw in fluid at the suction end and expel it forcefully at the discharge end. This mechanism seamlessly aligns with the specific requirements of the oil and gas industry.
  • A major contributing factor to the growing demand for centrifugal pumps is their capability to handle a diverse range of tasks within the industry. Whether it involves transferring crude oil from storage to pipelines or circulating drilling mud during extraction processes, centrifugal pumps provide a reliable and efficient solution. Their sturdy design and high capacity make them crucial for maintaining the flow of various fluids essential to oil and gas operations.
  • As the industry continues to expand and develop, there is an anticipated surge in demand for efficient and adaptable pumping solutions, particularly in the form of centrifugal pumps, driving the overall growth of the Oil and Gas Pump Market. This growth not only highlights the technical prowess of these pumps but also underscores their pivotal role in enhancing the operational efficiency of oil and gas processes.

Technological Development in Rotating Machinery

  • The market experiences substantial growth opportunities with the progression of technology in rotating machinery. Continuous innovation and evolution in the design and functionality of rotating machinery, including pumps and compressors, significantly enhance their performance, efficiency, and reliability. These advancements pave the way for cutting-edge solutions tailored to the specific requirements and challenges faced by industries like oil and gas.
  • An essential aspect of technological development lies in incorporating smart technologies and digitalization into rotating machinery. The rise of the Industrial Internet of Things (IIoT) and sensor integration facilitates real-time monitoring, predictive maintenance, and performance optimization of rotating equipment. This not only minimizes downtime but also extends the lifespan of machinery, reducing overall operational costs for end-users. Moreover, improvements in materials and manufacturing processes contribute to the creation of more robust and energy-efficient rotating machinery, aligning with the increasing emphasis on sustainability and energy conservation across industries.
  • Additionally, the integration of automation and control systems into rotating machinery enhances precision and responsiveness, allowing seamless incorporation into intricate industrial processes. As industries strive to enhance operational efficiency and maintain competitiveness, technological advancements in rotating machinery create compelling opportunities for manufacturers and service providers to deliver state-of-the-art solutions, thereby propelling market growth. The capacity to offer innovative and technologically advanced rotating machinery positions companies to meet the changing demands of industries and capitalize on the expanding market landscape.

Oil and Gas Pump Market Segment Analysis:

Oil and Gas Pump Market Segmented based on Type, Pump Type, Capacity, and Application.

By Type, Submersible segment is expected to dominate the market during the forecast period

  • The Properly Submersible segment is poised to dominate the market, thanks to its versatility and effectiveness in challenging environments. Submersible pumps, specifically designed for complete immersion in fluids, excel across various sectors, including wastewater management, oil and gas extraction, and agriculture. Their efficient operation underwater makes them indispensable for tasks such as groundwater pumping and sewage treatment. Recognizing the benefits of these pumps in terms of reliability, ease of maintenance, and space-saving configurations, industries are increasingly favoring the Properly Submersible segment, positioning it as a market leader. Anticipated further demand is driven by continuous technological advancements that enhance the performance and durability of submersible pumps, solidifying their status as the preferred choice for a wide range of liquid-handling operations.

By Application, Upstream segment held the largest share of 35% in 2022

  • The Upstream segment has secured the largest share of the market, underscoring its significant role in the oil and gas industry. As the initial phase of the energy production process, the Upstream segment involves exploration, drilling, and extraction activities. Its dominance in the market can be attributed to the immense importance of sourcing and extracting raw materials, such as crude oil and natural gas, which form the foundation for downstream processing and distribution.
  • The Upstream strategic position as the starting point of the supply chain, coupled with the global demand for energy resources, contributes to its substantial market share. Additionally, advancements in technology and exploration techniques further bolster the Upstream segment's prominence, facilitating efficient resource identification and extraction, thus solidifying its leading position in the overall market landscape.

Oil and Gas Pump Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast Period

  • Asia Pacific is poised to assert dominance in the market, emerging as a key powerhouse in various industries. The region's anticipated market leadership is driven by factors such as robust economic growth, industrialization, and a burgeoning population. As countries in Asia Pacific undergo rapid urbanization and infrastructure development, there is a substantial demand for products and services across diverse sectors, including oil and gas. The region's burgeoning energy needs, coupled with significant investments in the oil and gas industry, contribute to its expected dominance.
  • Additionally, the presence of major emerging economies, technological advancements, and proactive government initiatives further propel Asia Pacific's position in the market. With a dynamic and expanding industrial landscape, the region is anticipated to play a pivotal role in shaping the trajectory of the market, underlining its significance on the global stage.

Key Players Covered in Oil and Gas Pump Market:

  • SPP Pumps, Inc (USA)
  • ExxonMobil Corporation (USA)
  • Chevron Corporation (USA)
  • BP p.l.c. (USA)
  • Xylem Inc. (USA)
  • The Flowserve Corporation (USA)
  • Baker Hughes Company (USA)
  • Worthington Industries, Inc. (USA)
  • Graco (USA)
  • Blackmer (USA)
  • Designed & Engineered Pumps (USA)
  • Blackmer (USA)
  • Viking Pump, Inc (USA)
  • KSB SE & Co. KGaA (Germany)
  • PJSC Gazprom (Russia)
  • Equinor (Norway)
  • Alfa Laval AB. (Sweden)
  • GE Oil & Gas (UK)
  • Verder Ltd (UK)
  • Shell plc (UK)
  • PCM SA. (France)
  • Sulzer (Switzerland)
  • The China National Petroleum Corporation (China)
  • EBARA Corporation (Japan)
  • Tsurumi Manufacturing Co., Ltd. (Japan), and Other Major Players.

Key Industry Developments in the Oil and Gas Pump Market:

  • In May 2023, KSB SE & Co. KGaA added 19 sizes to its MegaCPK-type series. The new seal chamber design allows the installation of gland packings, all common mechanical seals compliant with EN 12756, as well as a large number of cartridge-type mechanical seals. This expansion will ensure a high degree of reliability and improve the availability of an entire system.
  • In August 2022, Atlas Copco acquired LEWA GmbH, a German manufacturer of diaphragm metering pumps, process pumps, and complete metering systems, including its subsidiaries, and Geveke B.V., an expert in pump systems, compressors, and associated services, including its subsidiaries, to strengthen its industrial pumps business.

Global Oil and Gas Pump Market

Base Year:

2022

Forecast Period:

2023-2030

Historical Data:

2017 to 2022

Market Size in 2022:

USD 11.84 Bn.

Forecast Period 2023-30 CAGR:

5.6%

Market Size in 2030:

USD 18.31 Bn.

Segments Covered:

By Type

  • Submersible
  • Non-submersible

By Pump Type

  • Centrifugal Pumps
  • Positive Displacement Pumps
  • Cryogenic Pumps

By Capacity

  • Low
  • Medium
  • High

By Application

  • Upstream
  • Midstream
  • Downstream

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Increasing demand for Centrifugal Pumps

Key Market Restraints:

  • Environmental Issues

Key Opportunities:

  • Technological development in Rotating machinery

Companies Covered in the report:

  • SPP Pumps, Inc (USA), ExxonMobil Corporation (USA), Chevron Corporation (USA), BP p.l.c. (USA), Xylem Inc. (USA), and Other Major Players.
  1. INTRODUCTION
    1. RESEARCH OBJECTIVES
    2. RESEARCH METHODOLOGY
    3. RESEARCH PROCESS
    4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
    5. MARKET SEGMENTATION
  2. EXECUTIVE SUMMARY
  3. MARKET OVERVIEW
  4. GROWTH OPPORTUNITIES BY SEGMENT
  5. MARKET LANDSCAPE
    1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
    2. INDUSTRY VALUE CHAIN ANALYSIS
    3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
    4. MARKET TREND ANALYSIS
    5. REGULATORY LANDSCAPE
    6. PESTLE ANALYSIS
    7. PRICE TREND ANALYSIS
    8. PATENT ANALYSIS
    9. TECHNOLOGY EVALUATION
    10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
      1. Geopolitical Market Disruptions
      2. Supply Chain Disruptions
      3. Instability in Emerging Markets
    11. ECOSYSTEM
  6. OIL AND GAS PUMP MARKET BY TYPE (2016-2030)
    1. OIL AND GAS PUMP MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. SUBMERSIBLE
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2016 – 2030F)
      3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
    4. NON-SUBMERSIBLE
  7. OIL AND GAS PUMP MARKET BY PUMP TYPE (2016-2030)
    1. OIL AND GAS PUMP MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. CENTRIFUGAL PUMPS
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2016 – 2030F)
      3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
    4. POSITIVE DISPLACEMENT PUMPS
    5. CRYOGENIC PUMPS
  8. OIL AND GAS PUMP MARKET BY CAPACITY (2016-2030)
    1. OIL AND GAS PUMP MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. LOW
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2016 – 2030F)
      3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
    4. MEDIUM
    5. HIGH
  9. OIL AND GAS PUMP MARKET BY APPLICATION (2016-2030)
    1. OIL AND GAS PUMP MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. UPSTREAM
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2016 – 2030F)
      3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
    4. MIDSTREAM
    5. DOWNSTREAM
  10. COMPANY PROFILES AND COMPETITIVE ANALYSIS
    1. COMPETITIVE LANDSCAPE
      1. Competitive Positioning
      2. Oil and Gas Pump Market Share By Manufacturer (2022)
      3. Industry BCG Matrix
      4. Heat Map Analysis
      5. Mergers & Acquisitions
    2. SPP PUMPS, INC (USA)
      1. Company Overview
      2. Key Executives
      3. Company Snapshot
      4. Role of the Company in the Market
      5. Sustainability and Social Responsibility
      6. Operating Business Segments
      7. Product Portfolio
      8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
      9. Key Strategic Moves And Recent Developments
      10. SWOT Analysis
    3. EXXONMOBIL CORPORATION (USA)
    4. CHEVRON CORPORATION (USA)
    5. BP P.L.C. (USA)
    6. XYLEM INC. (USA)
    7. THE FLOWSERVE CORPORATION (USA)
    8. BAKER HUGHES COMPANY (USA)
    9. WORTHINGTON INDUSTRIES, INC. (USA)
    10. GRACO (USA)
    11. BLACKMER (USA)
    12. DESIGNED & ENGINEERED PUMPS (USA)
    13. BLACKMER (USA)
    14. VIKING PUMP, INC (USA)
    15. KSB SE & CO. KGAA (GERMANY)
    16. PJSC GAZPROM (RUSSIA)
    17. EQUINOR (NORWAY)
    18. ALFA LAVAL AB. (SWEDEN)
    19. GE OIL & GAS (UK)
    20. VERDER LTD (UK)
    21. SHELL PLC (UK)
    22. PCM SA. (FRANCE)
    23. SULZER (SWITZERLAND)
    24. THE CHINA NATIONAL PETROLEUM CORPORATION (CHINA)
    25. EBARA CORPORATION (JAPAN)
    26. TSURUMI MANUFACTURING CO., LTD. (JAPAN)
  11. GLOBAL OIL AND GAS PUMP MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Type
      4. Historic And Forecasted Market Size By Pump Type
      5. Historic And Forecasted Market Size By Capacity
      6. Historic And Forecasted Market Size By Application
      7. Historic And Forecasted Market Size By Country
        1. USA
        2. Canada
        3. Mexico
    3. EASTERN EUROPE
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. Russia
        2. Bulgaria
        3. The Czech Republic
        4. Hungary
        5. Poland
        6. Romania
        7. Rest Of Eastern Europe
    4. WESTERN EUROPE
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. Germany
        2. United Kingdom
        3. France
        4. The Netherlands
        5. Italy
        6. Spain
        7. Rest Of Western Europe
    5. ASIA PACIFIC
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Malaysia
        6. Thailand
        7. Vietnam
        8. The Philippines
        9. Australia
        10. New-Zealand
        11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. Turkey
        2. Bahrain
        3. Kuwait
        4. Saudi Arabia
        5. Qatar
        6. UAE
        7. Israel
        8. South Africa
    7. SOUTH AMERICA
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. Brazil
        2. Argentina
        3. Rest of South America
  12. INVESTMENT ANALYSIS
  13. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies

Global Oil and Gas Pump Market

Base Year:

2022

Forecast Period:

2023-2030

Historical Data:

2017 to 2022

Market Size in 2022:

USD 11.84 Bn.

Forecast Period 2023-30 CAGR:

5.6%

Market Size in 2030:

USD 18.31 Bn.

Segments Covered:

By Type

  • Submersible
  • Non-submersible

By Pump Type

  • Centrifugal Pumps
  • Positive Displacement Pumps
  • Cryogenic Pumps

By Capacity

  • Low
  • Medium
  • High

By Application

  • Upstream
  • Midstream
  • Downstream

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Increasing demand for Centrifugal Pumps

Key Market Restraints:

  • Environmental Issues

Key Opportunities:

  • Technological development in Rotating machinery

Companies Covered in the report:

  • SPP Pumps, Inc (USA), ExxonMobil Corporation (USA), Chevron Corporation (USA), BP p.l.c. (USA), Xylem Inc. (USA), and Other Major Players.
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Frequently Asked Questions :

What would be the forecast period in the Oil and Gas Pump Market research report?

The forecast period in the Oil and Gas Pump Market research report is 2023-2030.

Who are the key players in the Oil and Gas Pump Market?

SPP Pumps, Inc (USA), ExxonMobil Corporation (USA), Chevron Corporation (USA), BP p.l.c. (USA),Xylem Inc. (USA), The Flowserve Corporation (USA), Baker Hughes Company (USA), Worthington Industries, Inc. (USA), Graco (USA), Blackmer (USA), Designed & Engineered Pumps (USA), Blackmer (USA), Viking Pump, Inc (USA), KSB SE & Co. KGaA (Germany), PJSC Gazprom (Russia), Equinor (Norway), Alfa Laval AB. (Sweden),GE Oil & Gas (UK), Verder Ltd (UK), Shell plc (UK), PCM SA. (France), Sulzer (Switzerland), The China National Petroleum Corporation (China), EBARA Corporation (Japan), Tsurumi Manufacturing Co., Ltd. (Japan), and Other Major Players.

What are the segments of the Oil and Gas Pump Market?

The Oil and Gas Pump Market is segmented into Type, Pump Type, Capacity, Application, and region. By Type, the market is categorized into Submersible and Non-submersible. By Pump Type, the market is categorized into Centrifugal Pumps, Positive Displacement Pumps, and Cryogenic Pumps. By Capacity, the market is categorized into Low, Medium, and High. By Application, the market is categorized into Upstream, Midstream, and Downstream. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

What is the Oil and Gas Pump Market?

Oil and gas pumps are essentially mechanical devices designed to transfer process fluids within the petroleum industry. These pumps facilitate the movement of substances such as crude oil and drilling mud, playing a crucial role in processes like oil extraction, refining, and transportation. Centrifugal pumps, gear pumps, and submersible pumps are common types used, each serving specific purposes in the efficient handling and transfer of various fluids in the oil and gas sector.

How big is the Oil and Gas Pump Market?

Global Oil and Gas Pump Market Size Was Valued at USD 11.84 Billion in 2022 and is Projected to Reach USD 18.31 Billion by 2030, Growing at a CAGR of 5.6% From 2023-2030.