The Business Research Company’s Oil And Gas Pumps Global Market Report 2020-30: COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, March 31, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
The development of oil and gas pipeline infrastructure contributed to the growth of the oil and gas pumps market. Oil and gas pipelines are used for transporting crude oil or natural gas liquids. Pumps or compressors are used for moving the oil or gas through the pipeline at a safe speed. According to India Brand Equity Foundation, the government of India is planning to invest $9.9 billion in expanding the gas pipeline network across the country. According to Invest India, about 12,672 km of gas pipelines are under development. Therefore, the development of oil and gas pipeline infrastructure is expected to drive the market for oil and gas pumps during the forecast period.
Asia Pacific was the largest region in the oil and gas pumps market in 2020. This region is also expected to be the fastest growing region in the forecast period. The regions covered in the global oil and gas pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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The global oil and gas pumps market size is expected to grow from $9.69 billion in 2020 to $11.23 billion in 2021 at a compound annual growth rate (CAGR) of 15.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global oil and gas pumps market is expected to reach $13.29 billion in 2025 at a CAGR of 4.3%.
The global oil and gas pumps market is segmented by type into centrifugal, positive displacement, cryogenic, by capacity into small (up to 500 gpm), medium (500-1000 gpm), high (more than 1000 gpm), and by application into upstream, midstream, downstream.
Major players in the oil and gas pumps industry are KSB SE, Flowserve, Sulzer, Xylem, Gardner Denver, Alfa Laval, SPP Pumps, ITT Oil & Gas, Kirloskar Brother Limited, HMS Group, Nikkiso, Trillium Flow Technologies, EBARA Corporation, Gemmecotti, PCM SA, Ruhrpumpen Global, EDUR-Pumpenfabrik Eduard Redlien, Wastecorp pumps, NETZSCH Pumps & Systems, Framo, SKF, Lewa, DXP, National Pump & Energy, and Enpro Subsea.
Oil And Gas Pumps Global Market Report 2020-30: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides oil and gas pumps market overview, forecast oil and gas pumps market size and growth for the whole market, oil and gas pumps market segments, and geographies, oil and gas pumps market trends, oil and gas pumps market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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