The oil & gas pumps market is expected to grow from an estimated USD 6.6 billion in 2020 to USD 9.0 billion by 2025, 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.
A few major players that have a wide regional presence dominate the oil & gas pumps market. The leading players in the oil & gas pumps market include Flowserve (US), Sulzer (Switzerland), Weir Group (UK), KSB (Germany), and Xylem(US).
The major strategies adopted by these players include contracts & agreements ,new product launches, investments & expansions, mergers & acquisitions, joint ventures, and partnerships & collaborations. Contracts & agreements and partnerships were the two most commonly adopted strategy from January 2017 to September 2020.
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Flowserve(US) is a manufacturer and aftermarket service provider of flow control systems. Its product portfolio includes pumps, valves, seals, automation, and aftermarket services to support various end-use industries such as oil & gas, chemical, power generation (including nuclear, fossil, and renewable) and water management. Flowserve operates through two business segments, namely, Flowserve Pump Division (FPD) and Flow Control Division (FCD). The company combined its previously reported Engineered Product Division (EPD) and Industrial Product Division (IPD) segments into one reportable segment, Flowserve Pump Division (FPD). It offers pumps through the FPD segment.
Flowserve operates in 55 countries and 245 locations worldwide. Some of its popular brand names are BW Seals, Byron Jackson, Calder Energy Recovery Devices, Cameron, Worthington, Durametallic, Durco, Halberg, Aldrich, and Pacific, among others. The FPD products are currently manufactured in 39 manufacturing facilities worldwide, 13 of which are located in Europe, 12 in North America, 8 in Asia Pacific, and 6 in Latin America. The company offers aftermarket services through a global network of 144 quick response centers (QRCs), some of which are co-located in manufacturing facilities in 44 countries.
Sulzer (Switzerland) is a global player that delivers reliable and sustainable solutions. It offers pumping solutions, services for rotating equipment, and separation, mixing, and application technology. The company provides its products and services to industries such as oil & gas, power, and water. Sulzer operates through four business segments, namely, pump equipment, rotating equipment services, Chemtech, and applicator systems. It offers pumps for oil & gas applications under its pumps equipment segment.
The pumps equipment segment focuses on production, transport, crude oil & gas processing, supply, treatment, transport of water as well as wastewater collection, and fossil-fired, nuclear, and renewable power generation. This segment offers its product to various end-use industries such as oil & gas, power, water, pulp & paper, and other related industries where pumps play a vital role.
Sulzer operates worldwide through its strong network with over 180 production and service locations in more than 40 countries around the world.
Oil & Gas Pumps Market by Type (Submersible, Non-submersible) Pump Type (Centrifugal, Positive Displacement (Screw, Reciprocating, Rotary and Gear, Progressive Cavity), Cryogenic), Application (Upstream, Midstream, Downstream), Region - Global Forecast to 2025
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